SaaS GRC Solution
Implementation of Governance, Risk Management and Compliance (GRC) solutions can be done on-premise or with third-party applications.
These applications are usually obtained via SaaS or Software as a Service. This implies that there are “Traditional” GRC solutions and SaaS GRC solutions.
What is SaaS?
SaaS stands for Software as a Service. Software as a Service (SaaS) is a method of delivering applications over the internet as a service.
It is a software distribution model in which a cloud provider hosts applications and makes them available to clients or end-users via the internet.
It is a method of software delivery that allows data to be accessed easily from any device. SaaS applications can also be called Web-based software, hosted software, or on-demand software. The job of the software vendors includes hosting and maintaining the servers, databases, and the several codes that make up the application.
How does the Traditional On-Premise GRC Solution differ from SaaS GRC Solution?
The traditional GRC solution delivery method differs from SaaS GRC solutions in two key ways:
Deployment of SaaS GRC solutions does not require extensive hardware. This allows clients to outsource most of the IT responsibilities usually required to troubleshoot and maintain the organization's software.
SaaS applications usually require a monthly subscription payment. This subscription model differs from the traditional model in that the software is purchased through a license, paid upfront. Traditional On-Premise users pay up to 20% per annum in maintenance and support fees, while the SaaS subscription fee usually includes support, software license, and some other fees.
Why should I purchase SaaS GRC Solution?
Lower Entry Cost
SaaS GRC Solution is not considered as a capital expense, but as an operational one. What this implies is that you only get to pay for what is needed without the acquisition of hardware to host your applications. In addition, there is no need for allocation of resources for software installation as your provider does the bulk of the work. This is not so for Traditional On-Premise GRC Solutions. The difference in cost will make a huge reduction in your budget if you implement it.
Reduced Benefit Time
SaaS GRC software can provide solutions in a matter of hours. This is time saving when compared to the Traditional On-Premise Solutions. Because the software is already installed and configured, it takes lesser time to benefit from the investment. It also allows for prototyping or quick demonstrations that give business partners, top management, and key stakeholders more confidence.
Costs are usually predictable.
SaaS GRC solutions utilize the subscription model or a Pay-as-you-go service. You are already aware of subscription costs and can predict administrative expenses you are very likely to incur. This is in contrast to On-Premise Solutions, where unexpected issues may arise, which may lead to unplanned expenses.
The software provider takes the bulk of the responsibility.
On-Premise IT solutions usually worry about their solutions' security, but this is not so with SaaS GRC solutions. Because a vendor hosts the software, he is responsible for maintenance and security upgrades. Hence, you are always confident about the reliability of your data and the security of your applications. SaaS vendors also provide automatic data backup, which should give you peace of mind. Do not bother your IT department with On-Premise GRC solutions and let the vendors worry about their competency.
It can work anywhere.
SaaS GRC software is hosted on the cloud and can be accessed via the internet with any device. This is a huge advantage as many things can be monitored on the go. Orders can be tracked, and instant feedbacks from customers can be received.
How do I choose between SaaS and Traditional On-Premise Solutions?
In order to answer this question, the following must be taken into account:
The first thing to consider is to determine the complexity of your business.
The next thing is to consider your budget. SaaS GRC solutions typically offer a subscription model, which helps small and medium scale companies to spread the cost of ownership over time.
You must also choose between flexibility and functionality. SaaS GRC vendors typically offer the same experience as a traditional on-premise installation.
If you are on the search for SaaS GRC solutions, then Archer SaaS is your best bet.
Archer SaaS provides a Cloud-Based Platform, allowing customers a range of deployment options, including on-premises, private hosted, and cloud-based SaaS.
We also guarantee an Enhanced User Experience, which is facilitated by persona-driven reports and dashboards, which deliver a user interface designed to satisfy both regular and infrequent users.
Through Advanced Analytics, Archer consolidates data from across your organization and uses risk analytics, machine learning, and quantification tools to provide an integrated picture of risk.
What is a SAAS GRC solution?
A Software as a Service or SaaS GRC solution is an application for GRC solutions offered on the cloud and can be accessed via the internet.
Is SAAS better than the traditional GRC solution?
If you are dealing with a huge amount of data, then SaaS is a better option. On the other hand, if the security compliance of an enterprise does not allow third party hosting, then On-Premise solution becomes the better option.