Buyer’s Guide for GRC Platforms: Why Purpose-Built GRC Matters

In today's digital world, organizations are searching for integrated platforms that can address their governance, risk, and compliance (GRC) needs alongside other enterprise demands. However, it's important for buyers to carefully evaluate solution providers to ensure they bring specialized expertise to the table. 

Rather than focusing on purpose-built GRC platforms, many GRC solution providers try to offer additional solutions that stray far from their core GRC competencies. While this approach may appear beneficial on the surface, it often results in diminished value for buyers due to diluted focus, increased complexity, and reduced reliability.  

The Importance of GRC Specialization  

GRC platforms play a pivotal role in helping organizations manage evolving regulatory demands, mitigate risks, and maintain compliance. When a GRC solution provider expands into unrelated domains, such as customer relationship management (CRM) or human resources (HR), they risk losing the focus that makes them valuable. Buyers should be cautious of these risks, which include:  

• Lack of alignment: While enterprise systems like GRC, CRM, and HR software may technically integrate, their user teams often have different goals and processes, undermining the value of the solution.  

• Unnecessary complexity: Multiple solutions with unrelated features can overwhelm end-users, complicating risk management efforts and reducing overall efficiency.  

• Loss of expertise: Specialization is vital in the highly regulated and complex GRC space. GRC solution providers branching into unrelated fields can erode their credibility among users who value focused expertise. 

Advantages of a Purpose-Built GRC Platform  

For compliance and risk management professionals, selecting a dedicated GRC solution provider and platform delivers significant advantages. The most effective solutions prioritize core GRC capabilities and offer:  

• Advanced automation and AI: These tools streamline workflows and allow organizations to adapt to regulatory changes swiftly and effectively.  

• Centralized systems: Specialized GRC solutions bring together risk, compliance, and audit processes into a cohesive platform that enhances decision-making and boosts operational efficiency.  

• Enhanced audit readiness: Real-time tracking and reporting ensure your organization is always prepared to meet compliance requirements, reducing the burden of audits.  
  

These concepts are echoed by Karta, one of Archer’s key partners, in their blog How a 'Do-it-All' Software Approach Can Spoil Your Risk & Compliance Programs. They compare it to a chef trying to cook every cuisine on the planet at once—the result is a chaotic, flavorless mess that satisfies no one. 

Karta states: "This is the danger of working with a software provider that tries to be everything to everyone and claims they can replace distinct, purpose-built tools and platforms in one grandiose offering. While seemingly comprehensive, these 'do-it-all' platforms often lack the depth and expertise needed to truly address the unique and complex challenges of distinct functions in modern organizations."  

What True GRC Solution Providers and Solutions Mean for Buyers  

When considering a GRC platform, buyers should prioritize solution providers who are dedicated to GRC and who draw on years of expertise to tackle the unique challenges found in compliance and risk management. For organizations looking to mitigate risks effectively and achieve long-term success, investing in specialized GRC platforms is essential. A strong GRC platform is the cornerstone of any successful risk management strategy. Without one, it’s infinitely harder to leverage common processes, share data and gain visibility into risks across your enterprise.  

Download our white paper, 5 Things to Know When Researching Risk Management Platforms, and discover the key factors to consider when selecting a strong GRC platform.