Strategic Focus: Why A GRC Tool Is Crucial For SMEs

Executive Summary

Despite governance, risk and compliance (GRC) platforms being around since the early 2000s, for a long time, the customer market was centred on large enterprises in highly regulated industries. However, in recent years, small to medium-sized enterprises (SMEs) have increasingly adopted GRC tools. This report examines the drivers behind this shift and finds that GRC software is indispensable for SMEs looking to stay competitive in an evolving regulatory landscape and maintain real security amidst the growing complexity of data governance and cybersecurity practices. As AI-driven GRC tools become mainstream and growing geopolitical uncertainties exacerbate risks across supply lines, SMEs must leverage these platforms to streamline operations, mitigate risks and align themselves with regulatory changes to ensure business continuity and sustainable growth.