eGRC is an umbrella term that covers governance, risk, and compliance, and typically encompasses activities such as corporate governance, enterprise risk management, and corporate compliance with applicable laws and regulations. With the latest development of Artificial Intelligence (AI) enabled eGRC solutions along with their higher adoption rate among end-users, deployment of this solution has become an integral part of the companies to manage their performance effectively. It allows organizations to achieve their desired goals through automation of workflows, while complying with policy guidelines and government regulations, thereby reducing financial risks as well as safeguarding the company’s brand image. The eGRC softwre in this report is defined as the summation of GRC solutions and services.
Top 10 eGRC software
- SAS INSTITUTE
- Oracle Fusion
- Thomson Reuters
- BWise platform
- EMC RSA Archer
- WOLTERS KLUWER HEALTH
Top free GRC Software
The products on this list are those which provide a free trial edition. There are drawbacks as in other free models, usually time or functionality.
- SYNERGi GRC Platform
Top Features of eGRC Software
GRC systems contain any or all of the functionality listed below, either as components for a single integrated framework or as different devices becoming part of a package. Some of the features are:
- Regulatory change management
- Policy management
- Risk management
- Audit management
- Risk and compliance reporting
- Third-party and supplier risk management
- Brand protection
The vendors are placed into 4 categories based on their performance in each criterion: “visionary leaders,” “innovators,” “emerging companies,” and “dynamic differentiators.” The top 25 vendors have been evaluated in this report, including Microsoft, IBM, SAP, SAS, Oracle, BWise, Thomson Reuters, MetricStream, FIS, Wolters Kluwer, MEGA International, LogicManager, Cura Technologies, SAI Global, Fenergo, Misys, Ideagen, ProcessGene, Quantivate, AssurX, Mphasis, EMC, NAVEX Global, Check Point Software Technologies, and Software AG.
Vendors who fall into this category receive high scores for most of the evaluation criteria. They have a strong and established product portfolio, and a very strong market presence. They provide mature and reputable GRC solutions. They also have strong business strategies. Microsoft, IBM, SAP, SAS, Oracle, BWise, Thomson Reuters, MetricStream, and EMC are the vendors that fall into the visionary leaders’ category.
They are established vendors with very strong business strategies. However, they are low in their product portfolios. They focus on specific type of technology related to the product. FIS, Mphasis, Misys, and Check Point Software Technologies are the vendors that fall into the dynamic differentiators’ category.
Innovators in the MicroQuadrant are vendors that have demonstrated substantial product innovations as compared to their competitors. They have a much-focused product portfolio. However, they do not have a very strong growth strategy for their overall business. Wolters Kluwer, Ideagen, MEGA International, NAVEX Global, Software AG, LogicManager, and SAI Global are the vendors that fall into the innovator's category.
They are vendors with niche product offerings and are starting to gain their position in the market. They do not have much strong business strategies, as compared to other established vendors. They might be new entrants in the market and require some more time before getting significant traction in the market. Cura Technologies, Fenergo, ProcessGene, Quantivate, and AssurX are the vendors that fall into the emerging companies’ category.