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

  1. IBM
  2. SAS INSTITUTE
  3. SAP
  4. Oracle Fusion
  5. Thomson Reuters
  6. BWise platform
  7. EMC RSA Archer
  8. MICROSOFT
  9. METRICSTREAM
  10. 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.

  1. ZenGRC
  2. Cammsrisk
  3. Apptega
  4. VComply
  5. OneTrust
  6. Qualtrax
  7. CyberOne
  8. 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:

  1. Regulatory change management
  2. Policy management
  3. Risk management
  4. Audit management
  5. Risk and compliance reporting
  6. Third-party and supplier risk management
  7. Brand protection

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

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.

VISIONARY LEADERS

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.

DYNAMIC DIFFERENTIATORS

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

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.

EMERGING COMPANIES

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.

Best eGRC Software

Comparing 42 vendors in eGRC Software across 127 criteria.
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IBM GRC solutions, which are predictive, adaptive, and integrated, enable organizations to meet risk and regulatory compliance challenges. Products offered by IBM in the eGRC market include IBM OpenPages GRC Platform, IBM OpenPages Operational Risk Management solution, OpenPages GRC, and Fraud Analytics. IBM OpenPages GRC Platform is an integrated GRC platform that enables companies to manage risk and regulatory challenges across the enterprise.
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It provides a customizable interface and includes features such as common repository, customizable interface, risk management capabilities, corporate performance management capabilities, comprehensive policy management capabilities, and incident management capabilities. SAS Enterprise GRC helps enterprises to consolidate GRC elements, make better and well-informed decisions, improve efficiency and effectiveness, and reduce risk-related losses.
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3.5
The segment offers software solutions, such as SAP Risk Management, SAP Process Control, SAP Audit Management, and SAP Fraud Management. Access Governance segment optimizes the process of managing and validating user access to applications and data in the cloud or on-premises. The segment provides software solutions, which include SAP Access Control, SAP Cloud Identity Access Governance, SAP Enterprise Digital Rights Management by NextLabs, and SAP Access Violation Management by Greenlight.
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Oracle Fusion GRC Intelligence solution combines qualitative and quantitative information and presents this information in integrated dashboards and reports that allow executives and managers to confidently identify and focus efforts on key risks and control issues, including access policy conflicts. Oracle Application Access Controls Governor provides real-time monitoring and proactive enforcement of crucial access policies, such as those that support Segregation of Duties (SOD).
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It offers solutions such as Board Solutions, Disclosure Solutions, Due Diligence Solutions, Enterprise GRC Solutions, Internal Audit Solutions, Internal Controls Solutions, Policy Management Solutions, Regulatory Intelligence Solutions, Risk Management Solutions, Screening Solutions, and Training Solutions.
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3.2
BWise platform helps companies to identify, understand, measure, and manage key organizational risks on a holistic level. BWise offers governance solutions which include financial governance, corporate governance, and IT governance. BWise Risk Management software solution includes operational risk management, enterprise risk management, business continuity management, risk and control assessments, and vendor risk management.
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The company offers GRC solutions, such as RSA Archer Audit Management, RSA Archer Business Resiliency, RSA Archer Enterprise & Operational Risk Management, RSA Archer IT & Security Risk Management, RSA Archer Regulatory & Corporate Compliance Management, RSA Archer Public Sector Solutions, RSA Archer Third Party Governance, and RSA Archer Platform.
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The Microsoft IT GRC Process Management Pack SP1 for the system center service manager, provides end-to-end compliance management and automation for desktop and datacenter computers. Data Classification Toolkit for Windows Server 2012 R2, in addition to configuring File Classification Infrastructure (FCI), the latest version of the toolkit also allows managing central access policy across file servers. It enhances the user’s experience by providing scenario-based wizards that can be used to configure, export, import, and compare file classifications.
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MetricStream offers a holistic suite of solutions and services to manage compliance with multiple regulations, corporate policies, and quality standards. MetricStream GRC platform includes apps and solutions developed by MetricStream. These apps and solutions manage all kinds of risk, audit, and compliance management issues.
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Lien Solutions helps financial institutions and lenders to reduce operational and credit risk and enhance profitability, by offering comprehensive public record searches, lien filings, titling, and life-of-loan management. CT Corporation provides a broad range of business license solutions to help organizations and SMBs stay compliant with all their business license and permit needs. ELM Solutions provides enterprise legal management software and services to legal departments and law firms to streamline their workflow.
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2.7
Cybersecurity solution analyzes millions of records to detect critical vulnerabilities and trigger alerts for case management, forensics, and risk mitigation action. Enterprise Risk Management solution proactively identifies and mitigates risks before they become problems. It leverages the library of over 500 key risk indicators. Decision solutions helps organizations to make informed decisions based on consumers past financial behavior.
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