10 Best Governance Risk and Compliance Software for Australian Businesses

Australian businesses are operating in one of the most tightly regulated environments in the world. From ASIC and APRA oversight to state-level privacy, ESG, and workplace compliance requirements, even a single oversight can trigger major legal and reputational fallout.

The Optus data breach, which exposed the personal details of 9.5 million Australians, is a stark reminder of how costly compliance lapses can be. The Office of the Australian Information Commissioner (OAIC) has since launched civil penalty proceedings. The case underscores how governance and risk failures can escalate into national headlines and regulatory action.

That is where governance, risk, and compliance (GRC) software comes in. 

Modern GRC platforms help Australian organizations centralize policies, automate risk assessments, and monitor compliance in real time, reducing manual effort while strengthening accountability.

In this guide, we’ll break down what GRC software does, why it matters, and which solutions are leading the way for Australian businesses in 2025.

At a glance:

• Australian businesses face complex regulatory and operational demands that require centralized, automated systems to manage risks, compliance, and policies efficiently
• GRC software streamlines governance, risk monitoring, and compliance tracking while providing real-time insights for informed decision-making.
• Successful adoption depends on careful selection, stakeholder engagement, process mapping, and ongoing training to ensure consistent use and reliable data.
• Challenges such as integration, data migration, and resistance to change can be mitigated with structured planning and thoughtful customization.
• Implementing GRC software effectively improves accountability, simplifies audits, supports strategic decisions, and strengthens overall risk and compliance management across the organization.

What Is GRC Software and Its Key Features

GRC software is a digital platform that helps organizations manage governance, risk, and compliance activities in one place. It replaces fragmented spreadsheets, emails, and manual tracking with automated workflows, centralized documentation, and real-time monitoring.

Key functions typically include:

• Policy and Procedure Management: Create, update, and distribute organizational policies while ensuring employee acknowledgment.
• Risk Management: Identify, assess, and monitor operational, financial, and regulatory risks.
• Compliance Tracking: Map obligations to regulations and standards, track adherence, and automate reporting for audits.
• Incident and Case Management: Log, track, and resolve compliance or risk events efficiently.
• Reporting & Dashboards: Gain organization-wide visibility into risk exposure, compliance status, and operational performance.
• Regulatory Change Management: Stay up to date with local, state, and federal regulations, and automatically reflect updates in workflows.
• Automated Alerts and Reminders: Receive timely notifications for critical deadlines, pending tasks, and overdue actions.
• Document and Evidence Management: Store, organize, and retrieve compliance documentation and risk evidence securely in one place.

This integrated approach helps organizations reduce errors, maintain accountability, and make data-driven decisions.

Why GRC Is Essential for Australian Businesses

Australian organizations face strict regulatory requirements, industry standards, and operational risks. Governance, risk, and compliance software helps businesses stay compliant, reduce risk, and maintain operational efficiency.

1. Ensure Regulatory Compliance

Australian businesses must comply with laws such as the Corporations Act, Privacy Act, and ASIC regulations. GRC software centralizes obligations, automates monitoring, and keeps audit-ready records to minimize penalties and legal issues.

2. Strengthen Risk Management

Operational disruptions, financial risks, and cybersecurity threats can affect business performance. GRC tools help teams identify, assess, and address risks proactively, keeping operations stable.

3. Promote Accountability and Transparency

Role-based access and centralized tracking ensure responsibilities are clear and actions are documented. This transparency builds confidence with regulators, investors, and internal teams.

4. Streamline Audits and Reporting

Organized compliance data, policies, and evidence make audits faster and simpler. Automated dashboards and reporting reduce manual work and highlight areas needing attention.

5. Support Strategic Decision-Making

Real-time insights into risks, compliance gaps, and operational performance help leadership make informed decisions that balance growth with control.

With GRC software, Australian businesses can simplify compliance, strengthen risk controls, and improve accountability across the organization.

Also read: Understanding GRC Technology and Its Importance

Top 10 GRC Software for Businesses in Australia

Choosing the right governance, risk, and compliance software can transform how Australian organizations manage policies, monitor risks, and maintain compliance. Here are some leading solutions available in the market:

1. VComply

VComply is an all-in-one GRC platform that centralizes compliance, risk management, and audit workflows. It automates reminders, tracks obligations, and maintains audit-ready records, helping teams reduce errors and stay accountable.

Key Features:

• Compliance Management: Centralize all compliance programs in one platform, automate reminders, and maintain detailed records to reduce manual processes and stay audit-ready.
• Risk Management: Streamline risk workflows with a single system to conduct assessments, prioritize mitigation efforts, and monitor inherent and residual risks across your organization.
• Policy Management: Simplify policy creation, approval, and distribution while tracking changes and attestations automatically. Assign access and notifications to ensure accountability and transparency.
• Case & Incident Management: Automate case intake, track progress, and resolve incidents efficiently. Set due dates, trigger reminders, and centralize documentation for complete oversight.
• Dashboards & Reporting: Visualize compliance and risk data through interactive GRC dashboards. Customize reports for executives, auditors, and internal teams without relying on spreadsheets.
• Workflow Automation: Automate tasks, alerts, approvals, and notifications to reduce human error and ensure timely action across compliance, risk, and policy activities.
• Integrations & Security: Connect seamlessly with your existing tools and tech ecosystem while maintaining enterprise-grade data security and encryption standards.
• 24/7 Support: Access dedicated support around the clock to guide implementation, address issues, and ensure smooth platform adoption.

Best fit for: Compliance, risk, and audit teams in mid-sized to large Australian businesses seeking an intuitive, all-in-one GRC platform that automates workflows, ensures accountability, and maintains audit readiness.

Pricing: Governance, Risk, and Compliance suite pricing starts at $1,000 per month.

Trial/Demo: Free demo available; 21-day trial available on request.

2. Sentrient

Sentrient provides risk and compliance oversight with real-time dashboards and reporting. It supports incident management, policy tracking, and regulatory updates, ensuring organizations remain compliant across operations.

Key Features:

• Compliance Oversight: Monitor all regulatory obligations and ensure tasks are completed on time across departments.
• Risk Assessment: Identify, evaluate, and prioritize operational and regulatory risks with structured workflows.
• Policy Management: Create, update, and distribute policies while tracking employee acknowledgment.
• Audit Readiness: Maintain a centralized record of compliance activities for faster and smoother audits.
• Reporting & Dashboards: Generate real-time insights on compliance status, risks, and operational gaps.

Best fit for: Medium to large Australian businesses seeking an integrated compliance and training management system that ensures ongoing regulatory alignment.

Pricing: Custom pricing based on organization size and requirements.

Trial/Demo: Free demo available on request. No free trial offered.

3. Protecht

Protecht offers enterprise GRC solutions with modules for risk management, compliance, and internal audit. It provides automated workflows, risk assessments, and reporting tools to help organizations mitigate operational and strategic risks.

Key Features:

• Risk Register: Centralize all risks in one platform and track mitigation actions effectively.
• Compliance Management: Automate regulatory tasks, alerts, and reporting to ensure adherence.
• Incident & Case Management: Log, track, and resolve compliance incidents with full accountability.
• Policy Management: Streamline policy creation, approval, distribution, and attestation tracking.
• Analytics & Reporting: Visualize risks and compliance metrics through customizable dashboards.

Best fit for: Enterprises and government organizations managing complex risk and compliance frameworks across multiple departments.

Pricing: Custom pricing.

Trial/Demo: Demo available on request. Doesn’t offer a free trial.

4. CGR

CGR focuses on simplifying governance, risk, and compliance processes through workflow automation and centralized reporting. Its tools support regulatory compliance, risk tracking, and internal audits for enterprise and mid-market businesses.

Key Features:

• Regulatory Tracking: Keep up with changing laws and regulations to avoid non-compliance.
• Risk Monitoring: Evaluate operational, financial, and strategic risks and assign ownership.
• Policy Control: Manage policies centrally and track employee compliance and acknowledgment.
• Audit Trail: Record all compliance actions and generate audit-ready evidence quickly.
• Dashboards & Reporting: Access comprehensive insights into compliance performance and risk exposure.

Best fit for: Mid-sized to large enterprises in Australia looking for a scalable and easy-to-implement GRC solution.

Pricing: Custom pricing.

Trial/Demo: Free demo available. No option for a free trial.

5. Workiva

Workiva is a cloud-based GRC platform that integrates risk, compliance, and reporting processes. It enables streamlined audit management, regulatory reporting, and collaborative risk assessments, improving transparency and efficiency.

Key Features:

• Document Management: Centralize policies, contracts, and regulatory filings in a secure platform.
• Control Monitoring: Track compliance controls, responsibilities, and deadlines across teams.
• Risk Assessment: Identify, assess, and mitigate risks with integrated reporting tools.
• Workflow Automation: Streamline compliance and risk workflows with notifications and task tracking.
• Analytics & Reporting: Generate interactive dashboards and audit-ready reports for stakeholders.

Best fit for: Large organizations with complex reporting needs seeking integrated risk, compliance, and ESG management in one cloud platform.

Pricing: Custom pricing.

Trial/Demo: Free demo available on request. You can also view their demo video.

6. Pirani

Pirani provides GRC tools for compliance tracking, policy management, and risk monitoring. Its platform helps organizations automate processes, maintain evidence, and gain actionable insights to stay ahead of regulatory requirements.

Key Features:

• Compliance Tracking: Monitor regulatory obligations, deadlines, and task completion across the organization.
• Risk Management: Identify, evaluate, and mitigate operational and strategic risks systematically.
• Policy Management: Create, approve, distribute, and track policies with audit trails and employee acknowledgments.
• Incident & Case Management: Capture, track, and resolve compliance incidents efficiently.
• Reporting & Dashboards: Generate real-time insights and customized reports for compliance performance and risk oversight.

Best fit for: Small to medium-sized organizations in Australia seeking an affordable, easy-to-use GRC solution with strong automation and reporting capabilities.

Pricing: Offers separate plans for risk management, compliance, audit, and more. Plans start at $304/month.

Trial/Demo: Free plan available; full-featured demo offered on request.

7. AuditBoard

AuditBoard focuses on internal audit, risk management, and compliance. Its platform provides workflow automation, centralized documentation, and dashboards to simplify audits and enhance organizational accountability.

Key Features:

• Risk Register: Centralize all organizational risks and track mitigation efforts in one platform.
• Control & Compliance Monitoring: Automate compliance tracking and ensure tasks are assigned and completed.
• Policy Management: Streamline document creation, approval, distribution, and attestations.
• Audit Management: Maintain audit-ready evidence and streamline internal and external audits.
• Analytics & Reporting: Visualize risk and compliance data through customizable dashboards and reports.

Best fit for: Enterprise compliance, audit, and risk teams looking for an integrated platform to streamline internal audits, SOX compliance, and risk assessments with strong collaboration and reporting tools.

Pricing: Custom pricing.

Trial/Demo: Free demo available upon request. No free trial.

8. Ideagen

Ideagen delivers GRC solutions for risk, compliance, and audit management. It offers real-time monitoring, reporting, and workflow tools to help organizations reduce operational risk and demonstrate compliance.

Key Features:

• Regulatory Compliance: Track obligations, maintain documentation, and ensure adherence to changing regulations.
• Risk Assessment: Identify, assess, and mitigate risks with structured frameworks and workflows.
• Policy Management: Centralize policies, automate approvals, and track employee acknowledgment.
• Incident & Case Management: Log, monitor, and resolve incidents with full accountability.
• Dashboards & Reporting: Access real-time insights and generate audit-ready reports for stakeholders.

Best fit for: Regulated industries such as financial services, healthcare, aviation, and manufacturing that need scalable GRC software with deep document control, quality management, and audit tracking capabilities.

Pricing: Custom pricing.

Trial/Demo: You can request a product demo. Doesn’t offer a free trial.

9. MetricStream

MetricStream is a comprehensive GRC platform with modules for risk management, compliance, audit, and policy management. It provides enterprise-grade automation, reporting, and analytics to support strategic decision-making.

Key Features:

• Risk Management: Identify, evaluate, and monitor risks across business units with a centralized system.
• Compliance Monitoring: Track regulatory obligations and automate compliance tasks and alerts.
• Policy Management: Create, review, approve, and distribute policies with full audit trails.
• Incident & Case Management: Capture, investigate, and resolve compliance events efficiently.
• Reporting & Analytics: Generate dashboards, KPIs, and audit-ready reports for decision-making.

Best fit for: Large enterprises and multinational organizations managing complex governance, risk, and compliance frameworks across multiple business units or jurisdictions.

Pricing: Custom pricing.

Trial/Demo: Free demo available on request. Doesn’t offer a free trial.

Also read: Top MetricStream Alternative and Competitor 2025

10. Vanta

Vanta specializes in automated compliance monitoring for cybersecurity and operational risks. It continuously tracks controls, manages evidence, and ensures organizations meet regulatory and industry standards efficiently.

Key Features:

• Automated Compliance Monitoring: Track regulatory obligations and internal controls with minimal manual effort.
• Security & Risk Management: Identify and mitigate operational and cybersecurity risks in real time.
• Policy & Documentation Management: Centralize policies, ensure employee acknowledgment, and maintain version history.
• Continuous Auditing: Maintain up-to-date audit trails and streamline external compliance assessments.
• Analytics & Insights: Gain actionable insights through dashboards and compliance performance reports.

Best fit for: Fast-growing startups and SaaS companies aiming to achieve and maintain SOC 2, ISO 27001, and other security compliance certifications through automated evidence collection and continuous monitoring.

Pricing: Custom pricing.

Trial/Demo: Free demo available on request; no free trial options.

Each of these GRC tools offers unique strengths, giving businesses the insight needed to choose a solution that streamlines governance, risk, and compliance processes effectively.

Selecting GRC Software Solutions for Australia

Choosing the right GRC software is crucial for Australian businesses aiming to streamline operations, ensure compliance, and mitigate risks effectively. With a plethora of options available, it’s essential to focus on key factors that align with your organization’s specific needs.

Key considerations for selecting GRC software:

1. User-Friendly Interface: Opt for software with an intuitive design that simplifies navigation and reduces the learning curve for your team.
2. Comprehensive Risk Management: Ensure the platform offers robust tools for identifying, assessing, and mitigating various risks, including operational, financial, and compliance-related risks.
3. Regulatory Compliance Features: Choose software that helps track and adhere to Australian regulations, including industry-specific standards, to avoid penalties and reputational damage.
4. Customization and Scalability: Select a solution that can be tailored to your organization’s unique processes and can scale as your business grows.
5. Integration Capabilities: Ensure the software can seamlessly integrate with your existing systems, such as ERP and HR platforms, to facilitate data flow and reduce manual entry.
6. Data Security: Prioritize platforms that offer strong encryption, access controls, and compliance with data protection laws to safeguard sensitive information.
7. Support and Training: Consider vendors that provide comprehensive support, including training resources and responsive customer service, to assist with implementation and ongoing use.

Focusing on these elements allows you to select software that not only fits current needs but also supports long-term compliance goals.

Also read: Understanding GRC Software Pricing in 2025

Common Challenges in Implementing GRC Software

Implementing GRC software can bring significant benefits, but organizations often face obstacles that can slow adoption or reduce effectiveness. Here’s a quick look at some major challenges:

• Resistance to Change: Employees may be accustomed to existing processes, like spreadsheets or manual workflows, making adoption of new software difficult. Early engagement and clear communication are key to overcoming hesitation.
• Integration with Existing Systems: Connecting GRC software to ERP, HR, finance, or other legacy systems can be complex. Without seamless integration, data silos and manual workarounds may persist, reducing the platform’s value.
• Data Quality and Migration: Migrating historical compliance and risk data to a new system requires accuracy and completeness. Poor data quality can lead to gaps in risk visibility and flawed reporting.
• Customization Complexity: Tailoring workflows, dashboards, and reporting to match organizational needs can be time-consuming. Over-customization may also complicate upgrades or limit scalability.
• Ongoing Maintenance and Updates: Regulations and business processes change continuously. GRC software requires regular updates and monitoring to remain effective and compliant.

Understanding these challenges is the first step toward a smoother implementation and helps organizations plan strategies to overcome common obstacles.

Best Practices for Successful GRC Software Implementation

 Implementing GRC software effectively requires more than just installation. Following best practices ensures the platform drives compliance, risk management, and operational efficiency from day one.

1. Define Clear Objectives and Scope

Establish what you want the GRC software to achieve, such as improved policy management, automated risk tracking, or audit readiness. Clear objectives help prioritize features and guide rollout.

2. Engage Stakeholders Early

Involve compliance officers, IT, finance, and operational teams from the start. Early engagement ensures workflows reflect real business processes, clarifies responsibilities, and builds buy-in across departments.

3. Map and Streamline Processes

Document existing compliance and risk workflows to identify gaps and redundancies. Use the software to automate repetitive tasks and ensure consistent execution across the organization.

4. Prioritize Training and Change Management

Provide hands-on, role-specific training and communicate the benefits of the software. Encourage adoption by highlighting how it reduces manual effort and improves transparency.

5. Ensure Data Accuracy and Migration Readiness

Audit and clean existing compliance, risk, and policy data before migration. Accurate, complete data ensures reports, dashboards, and alerts are reliable from day one.

6. Customize Thoughtfully

Tailor dashboards, workflows, and reporting to your organizational needs without overcomplicating the system. Balanced customization ensures the software remains scalable and easier to maintain.

7. Monitor, Evaluate, and Optimize

Continuously track adoption, workflow efficiency, and compliance metrics. Adjust processes, dashboards, and notifications to keep the system aligned with evolving regulatory requirements.

Also read: Optimizing the Organization’s Compliance Metrics, Dashboards, & Training

Taking a structured, thoughtful approach to implementation ensures your GRC platform becomes a true enabler of risk management and compliance excellence.

Final Thoughts

Governance, risk, and compliance software is essential for Australian businesses aiming to streamline operations, maintain regulatory adherence, and manage risk proactively. Choosing the right platform, following implementation best practices, and leveraging comprehensive features allows organizations to reduce manual effort, improve accountability, and gain real-time insights into compliance and risk performance.

For businesses seeking a trusted, all-in-one solution, VComply provides a powerful GRC platform that centralizes compliance, risk, and policy management while keeping your organization audit-ready and secure. 

Start your 21-day free trial today to see how VComply can simplify your GRC processes and enhance operational efficiency.

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