Defining agile GRC software & what it means for your business
The strategic nature of GRC has traditionally required significant customisation to support an organisation’s unique needs and goals in a software solution. The custom model also had a difficult time scaling outside of second- and third-line operations. Even within the scope of traditional risk management functions, a customised data model is hard to repeat across risk domains – so, therefore, records such as controls have to be re-created in every implementation instance.
For example, a data access control used in your vendor management programme may also be used in your internal IT risk and asset management programme. But with separate records, there is rarely a functioning relationship between the two. Ultimately, the time and effort it takes to build and customise a solution cannot keep pace with the changing needs of governance, risk, and compliance managers today.
What is agile GRC?
An agile GRC software is the solution to the challenges of traditional GRC software. Agile GRC means there is little to no custom development required to use the platform. By leading with a configuration-based approach, agile GRC is easily tailored via front-end settings and workflow automation.
Below are the key characteristics of an agile GRC software as defined by GRC 2020, an industry-leading market research firm.
Agile GRC software characteristics:
- Usability: Product provides a modern and easy-to-use user experience (UX) and user interface (UI).
- Pricing: Product is low cost and has an initial license investment as well as reasonable maintenance fees.
- Configurability: Product requires no custom coding and delivers a variety of data visualisations.
- Scalability: Product grows and changes in line with the unique needs of each organisational business unit while remaining synergistic across a shared data infrastructure.
- Adaptability: Product is responsive and can flexibly restructure organisational hierarchies while retaining data relationships.
- Integrations: Product includes a catalogue of pre-integrated applications that make it easy to integrate GRC into your existing application workflows.
- Artificial Intelligence & Robotic Process Automation: Product can evolve to support cognitive GRC.
- Future proof: Product’s SaaS deployment and flexible structure make it easy to keep evergreen and up to date.
Looking to implement an agile GRC software?
OneTrust built the OneTrust GRC platform guided by these agile GRC software characteristics. With OneTrust GRC, customers can transition their GRC programs away from a reactive checklist or heavily customised software solution to a proactive and flexible risk infrastructure that adapts to changing needs and today’s evolving landscape. Request a demo today to learn more about our agile GRC software and capabilities.