A GRC (Governance, Risk and Compliance) platform is a software system that helps organisations manage and monitor their governance, risk and compliance activities. It is a set of tools and processes that an organisation can use to ensure it is following laws and regulations and minimising risks.
While GRC platforms are designed to help organisations in a very wide compliance perspective, Openli focuses on the vendor management part of privacy compliance. Openli automatically collects the data on behalf of organisations and can create the RoPA (Record of Processing Activities) in minutes.
Openli and contract management systems differ in some aspects. Here are some of the most important ones to consider:
Annual ROI from
purchase of Privacy hub
To get the full value of a complex GRC platform, you need to vet your vendors yourself or use an external service provider. Openli automates this process to generate the data for a GRC platform. Many GRC platforms offer a vendor management module, but you still need to input the data yourself, which drives the value of the module down.
With Openli’s Privacy Hub you can avoid keeping track of vendors in a spreadsheet and put your privacy program on autopilot. You can also connect your GRC platform with Openli API’s to streamline your workflows even more.