LockPath, a provider of governance, risk management, and compliance (GRC) solutions, recently announced the release of the GRC Buyer’s Guide, a resource geared toward professionals seeking out GRC solutions for their organizations.

The GRC Buyer’s Guide aims to help professionals make smarter and more informed decisions during the GRC software research, evaluation and purchasing processes. The five-section guide provides tools to help buyers self-evaluate their current programs and determine their solution needs.

With the term “GRC” being coined in 2002, it is still a new concept to many organizations outside the Fortune 500 or Global 2000. This has led to confusion in the marketplace, as professionals try to make sense of GRC, its components, and the challenges GRC software can solve. As a result, organizations often struggle to find the right questions to ask when evaluating GRC software and providers.

“GRC buyers typically fall into one of three categories: they are either first-time buyers; replacing their first solution because it didn’t bring results; or still struggling to implement another provider’s solution,” said Chris Caldwell, LockPath CEO and founder. “In addition, buyers are frequently needing to put a GRC solution in place rapidly, due to an audit finding or a large reporting gap as it relates to a key regulation.”

“These situations can put the buyer in a vulnerable spot,” Caldwell  added. “Our buyer’s guide aims to bring transparency to GRC purchasing, by debunking much of the misinformation in the marketplace and arming organizations with practical tips to make the right decisions for their enterprises.”

In the modern business landscape, risk management is becoming a priority for organizations, but many still don't have a firm grasp of the processes and technology that help with these initiatives. Risk and compliance programs are commonly operated using manual processes and management methods, such as spreadsheets. These methods and strategies will not scale as the risk and compliance landscape becomes more complex.

Many organizations are already experiencing these scaling issues and are looking to new technologies to help them with these challenges. The GRC Buyer’s Guide was designed as an easy-to-use tool to help with assessing exactly what organizations need.