Top 5 Best Governance, Risk & Compliance Software for Solar Businesses 2024

Akshay VR -

The solar industry operates in a dynamic environment where governance, risk management, and compliance (GRC) are essential for sustainable growth. In 2024, the top five GRC software solutions for solar businesses are AuditBoard, Workiva Inc., TeamMate+, Thoropass, and A-LIGN's A-SCEND. These platforms offer robust features to manage risks, ensure compliance, and enhance governance strategies.

Why We Need GRC Software

Governance, risk, and compliance are critical components of solar businesses, ensuring operational integrity, regulatory adherence, and long-term success. GRC software provides a centralized platform to manage risks, streamline compliance processes, and enhance governance strategies. With the complex and evolving regulatory landscape in the solar industry, adopting efficient GRC solutions is imperative.

Top 5 Governance, Risk & Compliance Software

1. AuditBoard

Description: AuditBoard's connected risk platform aims to elevate teams, engage businesses at the front lines, and leverage risk as a strategic driver. At its core is a unified data hub that centralizes risks, controls, policies, frameworks, and more. Surrounding this core are powerful platform capabilities, including collaboration, automation, workflow management, business intelligence, and integrations. AuditBoard offers multiple applications such as RiskOversight, CrossComply, SOXHUB, OpsAudit, ESG, ITRM, and TPRM.

Features:

  • Unified Data Core
  • Collaboration and Automation
  • Multiple Applications

Pricing: Available at AuditBoard Pricing

Accessibility on Devices: Compatible with various devices and platforms.

Ease of Use: Provides a dynamic foundation for streamlined risk management.

Website: AuditBoard

2. Workiva Inc.

Description: Workiva's mission is to power transparent reporting for a better world. The cloud-based platform simplifies complex reporting and disclosure challenges, connecting data and teams to ensure consistency. Workiva delivers regulatory, financial, and ESG reporting solutions, streamlining processes for stakeholders' demands.

Features:

  • Cloud-Based Platform
  • Regulatory and ESG Reporting Solutions
  • Data and Team Connectivity

Pricing: Available at Workiva Inc. Pricing

Accessibility on Devices: Simplifies reporting and disclosure challenges across various devices.

Ease of Use: Streamlines reporting and disclosure processes for transparency.

Website: Workiva Inc.

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3. TeamMate+

Description: TeamMate+ is an end-to-end audit management system designed to help auditors and leaders execute and manage the audit workflow. It empowers audit teams with digital capabilities, integrates critical business systems, and provides data-driven analysis and insights. TeamMate+ is built on a 30-year relationship with the audit profession.

Features:

  • Audit Workflow Management
  • Integration with Business Systems
  • Data-Driven Analysis

Pricing: Available at TeamMate+ Pricing

Accessibility on Devices: Global leader adaptable to teams of all sizes and industries.

Ease of Use: Adaptable to various audit practices, providing future-ready capabilities.

Website: TeamMate+

4. Thoropass

Description: Thoropass, previously known as Laika, offers a compliance and audit solution that includes the auditor in the process. It combines in-house auditors with automation for evidence collection. Thoropass enables implementing, managing, and monitoring compliance and security stances in a single platform. It supports multiple frameworks, including SOC 1, SOC 2, HITRUST, ISO 27001, and PCI.

Features:

  • In-House Auditors
  • Automation of Evidence Collection
  • Compliance with Multiple Frameworks

Pricing: Available at Thoropass

Accessibility on Devices: Single audit platform for various compliance frameworks.

Ease of Use: Frictionless and predictable compliance process.

Website: Thoropass

5. A-LIGN's A-SCEND

Description: A-SCEND is A-LIGN’s compliance automation platform, combining auditor experience with intuitive automation. It addresses compliance audit needs from readiness to report for various standards, including SOC 1, SOC 2, ISO 27001, FedRAMP, HIPAA, and more. A-SCEND offers automated evidence collection, cloud integration, continuous monitoring, and policy center features.

Features:

  • Compliance Automation Platform
  • Automated Evidence Collection
  • Continuous Monitoring

Pricing: Available at A-LIGN A-SCEND

Accessibility on Devices: Streamlined audit process from readiness to report.

Ease of Use: Bridges the gap between auditor experience and compliance automation.

Website: A-LIGN A-SCEND

Conclusion

In 2024, solar businesses can navigate the complexities of governance, risk, and compliance efficiently with advanced software solutions. AuditBoard, Workiva Inc., TeamMate+, Thoropass, and A-LIGN's A-SCEND offer comprehensive tools to manage risks, ensure compliance, and enhance governance strategies. Selecting the right GRC software is crucial for solar businesses to stay compliant, mitigate risks, and foster sustainable growth.