Finding the right governance, risk, and compliance (GRC) software can feel overwhelming in a market with so much choice. With so many options, how do you pick the best one for your business?

And the stakes are high, because by getting it right, you’ll streamline compliance, reduce risks, save time on reporting and admin, ace audits and give your business a tool that can help make better and more informed decisions. This guide cuts through the noise, helping you choose a GRC platform that fits your needs, budget, and future growth. 

Why your business needs GRC software 

Governance, risk and compliance software is a tool that helps businesses and organisations manage risk and support compliance. Tools are often much more sophisticated than spreadsheets, enabling the centralisation of data and offering handy reporting tools.  

Every company is different and has a varying level of risk maturity, but if your team is still juggling risk management and compliance tasks in spreadsheets, emails, or by using clunky legacy systems, it might be time to make the change.  

For more help with this, check out our blog on the 7 biggest signs you need (the right) risk management system.  

A good GRC solution brings everything into one platform, automates tedious tasks, and helps you stay on top of regulatory changes. The result is less admin, fewer errors, easy user adoption and better decision-making. 

Key features to look for in a GRC solution 

Not all GRC platforms are created equal. Before you commit, we’d recommend ensuring your software can do the basics, and has some qualities that will help with rolling out and getting the wider business involved in risk and compliance work.  

Easy to use 

If it’s too complicated, people won’t use it. Pick a system with a clean, intuitive interface. 

Customisable dashboards & advanced reporting tools 

Your business needs insights that make sense to you. Look for real-time reporting that helps you track risks and compliance effortlessly. 

Seamless integrations 

Your GRC software should seamlessly connect with your existing tools, and that means communication tools, HR systems, finance software and cloud platforms. No more switching between apps. 

Security & compliance 

Since GRC software deals with sensitive data, encryption, Single Sign On (SSO), System for Cross-domain Identity Management (SCIM), access controls, and audit trails are a must. 

A great tip is to check if these features are included in pricing, or if they come at a premium.  

Scalability 

Your business will grow, and so will your compliance needs. Make sure your GRC system can scale with you. A huge part of this is licensing prices and how different providers structure this. Some solutions will charge per new user, making the price to roll the software out to growing teams unsustainably steep.  

One of our customers explains this perfectly.  

“I wanted a solution that would grow with us and eliminate the administrative burden of manual risk tracking. RiskSmart provided exactly that: an intuitive system that allowed us to decentralise risk management while maintaining control and oversight.” 

- Steve Folkard, Chief Risk and Compliance Officer at Jensten. 

High configurability 

Another factor to consider is the configurability of the system.  

As your business grows and evolves, so should the GRC platform. Information you want to capture today may be different tomorrow. GRC tools should be nimble enough for you to change forms and layouts quickly, without waiting months for customer support to act, or for tech tickets to be picked up.

How to get budget approval for GRC software 

Regarding pricing, this is the perfect segue to talk about budget approval.

We tend to see that most risk and compliance professionals are keen to adopt a new system, but convincing leadership to invest in GRC software could feel like a long process.  

Here’s how to get that all-important “yes.” 

 1. Highlight the risks of doing nothing: Show how manual processes can lead to errors, fines, and compliance failures. For this, numbers speak louder than words.  

 2. Prove the ROI: A good GRC system saves time, reduces regulatory risks, and prevents costly mistakes. Make the Business Case with clear cost vs. benefit comparisons. If you have a larger team, get them involved with tracking how much time manual processes take them, and highlight how automation could empower your team to do more.  

3. Showcase quick wins: Some solutions, like automated reporting and risk tracking, deliver results fast. Decision-makers love instant impact. 

4. Ask for case studies: Asking providers in your selection process for examples of how you’ve helped teams or similar companies can help you understand the instant impact of implementing their system, and help you communicate this to your leadership team.  

Want to learn more about building a Business Case for a GRC tool? Check our RiskSmart guide on how to build a Business Case for GRC software.

 5. Compare costs vs. potential penalties: In addition to saving money on admin, errors and decentralised data, explain how the cost of non-compliance (fines, reputational damage, legal fees) far outweighs the cost of a GRC solution. 

With the right pitch, securing budget approval for a GRC platform can be much easier than you think. 

Common mistakes to avoid when buying GRC software 

Overcomplicating the decision: More features don’t always mean better software. Focus on what your business actually needs and how you’d practically apply the features.  

Ignoring user adoption: If your team can’t figure out how to use it, or you get the chill-inducing side-eye when you ask people to complete work using the tool, it’s a waste of money. Your staff should feel like it helps them complete tasks, and that it’s easy and simple to manoeuvre.  

Choosing a support team with risk domain expertise: Check that the provider’s implementation and Customer Success team understand risk management and best practices. They can help do the heavy lifting for you, and their experience could make or break your success with the tool.  

Ignoring security: Choosing a tool that offers robust data security features is key to success in your company, but it can also be a huge factor in getting your senior technical leaders on board. Ensure the provider has all necessary security certifications (e.g. ISO 27001) and is a trusted partner for established brands.  

Choosing a one-size-fits-all system: Your business has unique risks and compliance needs. Customisability, flexibility and adaptability matter. 

Forgetting about support: A good GRC system will have a support team that knows the system. A great GRC system will have a Customer Success team that empowers users to work independently, by predicting the features and tools you’ll need.  

  

Why RiskSmart is the GRC software of choice for Allica Bank, ASOS, PensionBee, Rightmove and many more 

At RiskSmart, we believe GRC software should be simple, powerful, and genuinely helpful. Our user base loves our scalable and adaptable platform. 

User-friendly & intuitive: No confusing interfaces, no endless training. 

Flexible & scalable: Grows with your business and doesn’t charge to add extra users across your organisation and teams.  

Automation-driven: Less admin, more control. 

Compliant & secure: Helps you easily meet regulatory requirements and offers security features like SSO and SCIM as a complementary feature in our platform.  

  

Final thoughts: How to make the right choice 

The best GRC software isn’t just about ticking boxes. It’s about finding a system that fits your business needs and makes risk management effortless. 

Look for usability, automation, and long-term scalability. Choose a solution your team will actually use, and don’t settle for a one-size-fits-all approach. 

Want to see how RiskSmart can transform your risk and compliance processes? Book a free demo today.