10 Signs Your GRC Platform is Outdated

When you rely on a Governance, Risk, and Compliance (GRC) platform, it needs to be reliable, up-to-date, and flexible enough to handle the complexities of your organization’s compliance and risk needs. However, not all GRC platforms evolve at the same pace. Here are ten signs that your GRC platform may be outdated compared to the modern, cloud-based, customisable GRC platforms available on the market today.

1. Poor User Experience

If your GRC platform feels clunky or difficult to use, it’s probably outdated. User experience (UX) is everything when it comes to keeping staff engaged, productive, and on board with using the platform regularly. A modern GRC platform should feel intuitive, making it easy for everyone to navigate and use. From risk managers & executives who are using the platform view risk data to operational staff who are completing risk assessments & control checks as part of their daily tasks – staff should be able to use the platform with minimal training.

In today’s digital world, users expect access to essential platforms on the go. If your GRC platform doesn’t work seamlessly on mobile devices or via a browser, that’s a sign it’s outdated. Modern platforms are responsive and optimized for mobile and many also offer a mobile app – allowing users to complete compliance and risk related tasks from wherever they are and to view the latest reports.

2. Constant Buffering and Slow Speeds

A telltale sign of an outdated platform is constant buffering and slow processing times. If loading screens takes more than a second per click, or if reports take forever to generate, these are clear indicators that the system is outdated and slowing down your team. Today’s GRC platforms are optimized for speed and efficiency with sub second screen load times and instant reports and live dashboards.

3. Limited Risk Registers, Categories, and Types

If your current platform puts a limit on the number of risk registers, categories, or risk types you can have, it may be holding your organization back. With risk sources and types constantly evolving, a GRC platform must allow for flexibility in identifying and categorizing risks accurately ensuring risk reporting can be broken down into the relevant areas. Outdated platforms often restrict the options available – limiting reporting outputs and making it harder to grow and mature your program as your needs expand.

4. Lack of Integrations with Other Systems

A modern GRC platform should be able to integrate seamlessly with other systems & data sources – such as financial tools, HR platforms, or data analytics software – via API integrations. This enables firms to pull in transactional or operational data into the platform that could act as Key Risk Indicators (KRIs) or to integrate the tool with their active directory to ensure risk & control owners are current.

If your platform can’t integrate with other systems & data sources, you’re likely missing out on a lot of valuable insights and will struggle to allocate ownership & responsibility for key GRC activities. Today’s GRC technology is built to integrate easily with other systems, enabling your team to have all the necessary data in one place – ensuring a single source of truth.

5. Static Reporting

If you’re still dealing with static reports that require hours of manual data manipulation, it’s a red flag. Modern GRC platforms offer dynamic reporting that can pull real-time reports at the touch of a button, allowing for immediate insights and up-to-the-minute information. Outdated platforms typically lack this capability, leaving teams to manually create reports themselves by exporting data outside of the platform or to work with static reports that are often outdated the moment they’re generated.

6. Inadequate Incident Management Capabilities

Outdated platforms can also fall short in providing robust incident and issue management capabilities. Modern GRC platforms offer a best practice framework for capturing, managing, tracking and resolving incidents as they occur. Staff can simply log an incident via an online form – with all data feeding directly into the platform. Strict data governance guidelines ensure data is entered accurately so it can easily be reported on. Automated workflows escalate the incident and ensure each case is worked through to a full resolution. The platform supports with assigning tasks, setting deadlines, and automating alerts to prevent incidents from slipping through the cracks.

7. Inability to relate GRC to Business Objectives & Performance

Modern GRC platforms enable firms to align risk management with their strategic objectives and enterprise performance. This enables firms to take risks that will help them to achieve their goals and mitigate the most critical risks that could negatively impact their strategic plans. Failure to make these important linkages could mean that you are not prioritizing the right risks and missing out on strategic oportunities.

The latest GRC tools enable firms to plan out their strategy and break it down into clear projects, tasks, and actions so they can be allocated out across the business for completion. Each task is allocated clear deadlines, budgets, ownership, and dependencies, and risks are captured and managed to ensure the strategy stays on track. Companies can also alter their strategy based on new or emerging risk factors to ensure their long-term goals are met. There’s no point in having a risk register and simply working to ‘stay out of the red’, you need to be able to enable certain risks to achieve your goals, and modern GRC platforms that link risk to strategy provide vital data to guide those important decisions.

8. Poor Customer Support and Training Resources

Is the support for your platform hard to reach, or are training resources minimal? A lack of quality customer support and resources is often a sign that a platform is out-of-date or isn’t a priority for the provider. An up-to-date GRC platform comes with a commitment to ongoing customer support, training resources, and regular upgrades. Many use interactive AI based help tools to guide users as they use the platform.

9. Inflexible Permissions and Access Controls

Older GRC platforms often lack the granularity needed to manage complex permissions hierarchy’s and access controls. Organizations need the ability to tailor access based on roles and responsibilities, ensuring the right people have access to the right data, and that they are not blindsided by copious amounts of information that they don’t need to see. User tracking is also vital to ensure firms can track who entered the data and completed the tasks – to instil accountability & responsibility. Modern GRC platforms should offer flexible, role-based access controls that are easy to configure and manage.

10. No Customization Options

Every organization has unique needs and evolving requirements. If your GRC platform isn’t flexible enough to be tailored to meet your organizations bespoke needs, that’s a warning sign that it may be outdated. Today’s GRC solutions offer configurable dashboards, customizable workflows, and options to tailor the platform to fit your team’s needs. Modern platforms often offer configuration tools enabling the clients to build their own workflows and update fields, menus, and dropdowns themselves without the need for costly configuration fees.

In Conclusion: Is It Time to Upgrade?

If you recognize any of these signs in your current GRC platform, it may be time to consider an upgrade. An outdated GRC platform not only slows down processes but can also prevent you from effectively managing risk and compliance. Investing in a modern, agile, and integrated platform can make a big difference in streamlining your operations and ensuring your organization stays resilient. These platforms provide insightful reporting outputs to guide business decision-making.

To learn more about how a modern GRC platform could support your business, request a demo.