areena gToday, security, compliance, and risk management feel like nonstop fire drills, especially with India’s DPDP Act 2023 mandating consent management, 72-hour breach notifications, and fines up to INR 250 crore.
A study shows 70% of Indian firms grapple with data privacy due to siloed processes, heightening DPDP risks.
GRC platforms unify these efforts, embedding DPDP compliance via automated data mapping and audits, cutting costs by up to 40% while enabling proactive risk detection.
In this blog, we will discuss the key advantages of a GRC tool and its impact on an organisation’s security and compliance.
Mitigata: Premier GRC Service Provider in India
Mitigata is a comprehensive cybersecurity firm that offers an automated GRC platform. This platform provides a real-time, consolidated view of your organisation’s risk and compliance status, enabling businesses to monitor and manage risks more efficiently.
What we bring to your table:
Continuous improvement: The system consistently refreshes your strategies and assists in recognising and revising current strategies.
Cost-effective and Expandable: It streamlines repetitive tasks, reducing expenses related to hiring external services and manual work, making it both time-efficient and economical.
Immediate Alerts and Reporting: You will get instant notifications if a compliance issue is detected, enabling you to tackle it quickly before it worsens.
Efficient Management: It offers a unified, centralised interface to oversee all aspects from detecting risks to compliance reporting.
Control Status: You can monitor the status of all tasks, whether pending, in progress, or finished.
See All Your Risks Clearly on a Single Dashboard
Track open risks, control status, vendor assessments, and audits instantly with Mitigata’s cost-effective and scalable GRC platform.
What Is a GRC Tool?
A GRC tool is a software application that integrates governance, risk, and compliance functions. One platform instead of different spreadsheets and scattered documents manages:
- Policies
- Controls
- Risk registers
- Evidence
- Audits
- Vendor risk
- Reporting
- Compliance status
This allows teams to have a common area to monitor responsibilities, achievements, issues, and documentation. The advantages of GRC tools stem from transparency, uniformity, and automated workflows.
Get a clear breakdown of the best GRC tools and learn which one can strengthen your risk and compliance workflow.
Why Businesses Need GRC Tools Now
Regulators, auditors, and customers are putting increasing demands on organisations. Manual compliance takes a longer time, distracts teams, and increases mistakes and gaps.
GRC platforms are the solution to these problems as they provide teams with an organised system that reduces wait time and helps them make better decisions.
Key reasons businesses adopt GRC systems:
- Regulatory requirements demand accurate records
- Leadership wants real-time risk visibility
- Compliance tasks grow heavier each year
- Cyberattacks often originate from poor risk or control management
- Manual evidence work consumes excessive time
This shift explains why the importance of GRC tools continues to increase across BFSI, SaaS, healthcare, manufacturing, and other sectors.
Top 12 GRC Tool Benefits
Below are the most impactful GRC tool benefits observed across high-performing organisations.
Complete Visibility of Risks Across the Organisation
The risk data is aggregated into a single dashboard by the GRC platforms. The teams can monitor high-risk processes, control failures, overdue tasks, and new threats without having to wade through many files. This helps to make decisions faster and to plan with less uncertainty.
Automated Compliance and Risk Workflows
One of the key benefits of GRC software is that it minimises manual work. The system sends alerts, assigns tasks, collects evidence, links controls to frameworks, and updates the status all by itself. This allows the teams to focus on more critical tasks and reduces errors.
Faster Audit Readiness
The majority of companies take years to get audit-ready. GRC tools aid in storing evidence, monitoring status, and organising documentation throughout the year. Thus, when the audit comes, everything is ready, resulting in a significant reduction in the audit preparation period.
Stronger Governance Through Clear Policies and Controls
A GRC system accumulates all policies, versions, controls, owners, review dates, and approvals in one spot. This transparency is a deterrent to policy infractions, and it also provides teams with a systematic method for upholding compliance standards.
From Policy to Proof, Manage Everything in One Place
Mitigata GRC streamlines compliance tasks so you save time, reduce errors, and focus on what really matters.
Lower Cost of Compliance
Labour-intensive compliance tasks are costly. GRC systems eliminate a large chunk of the documentation, evidence gathering, and audit times. A lot of organisations report visible savings as there are fewer personnel resources involved in the repetitive work.
Real-Time Reporting and Dashboards
Management usually does not know the actual compliance situation or the level of risk they are exposed to.
GRC software offers a unified dashboard that instantly shows the project areas that are on time, overdue, or at risk. This enables fast decision-making without the need to rely on reports that are outdated.
Better Decision-Making Through Accurate Data
With policies, risks, controls, and vendor information all on one platform, executives can look at precise data. This helps them in budget allocation, control enhancements, and quicker responses to problems.
Improved Cybersecurity Preparedness
A number of breaches happen because security controls were either missing or obsolete. GRC applications monitor the state of controls, assign corrective actions, and expose weaknesses. This fortifies the company’s cyber defence and minimises the risk.
Understand how leading SOC monitoring tools improve visibility, response speed, and overall security readiness for your organisation.
Stronger Vendor and Third-Party Risk Management
With the use of GRC platforms, the whole process of vendor assessments, questionnaires, documents, and renewals is made easier and more organised. It will be much easier for companies to identify high-risk vendors and expired certifications, helping them avoid supply-chain risks.
Scalability for Growing Compliance Needs
The compliance duties of organisations grow as they grow in size. A GRC platform is not limited to the current compliance setup but can be easily expanded to cover different areas, such as new frameworks, teams, and workflows, thereby eliminating the need for heavy manual work and making it cost-effective.
Improved Stakeholder Confidence
The organisations that maintain proper paper trails, have controls in place, and provide accurate reporting are the ones that are trusted. GRC systems help demonstrate the maturity and reliability of audit, tender, and client review processes throughout the process.
Reduce your organisational risk through GRC control systems
Try our free demo and discover easy integration, full setup support and unbeatable pricing for long-term security and compliance growth.
Conclusion:
The advantages of using a GRC tool extend beyond ease of use to include other aspects. Companies that use GRC software can expect improved clarity, enhanced compliance, faster audits, reduced expenses, and more trustworthy data for more intelligent decision-making.
Regulatory demands are increasing, and risks are growing; thus, the importance of organised risk and compliance systems has increased significantly.
Ready to simplify risk management? Talk to our experts today and take charge of your organisation’s risk posture with confidence.
akshit k