If you’re running a business in Australia, you already know how important Governance, Risk and Compliance (GRC) has become.
Regulations are tightening, expectations are rising, and the risks facing organisations, from cyber incidents to workplace safety issues, are growing more complex every year.
It doesn’t matter whether you’re a small organisation or a large enterprise; you’re expected to stay on top of compliance, manage risks properly and prove that your processes are working.
The problem is that many organisations still rely on scattered spreadsheets, email threads and manual reminders to manage their compliance and risk activities.
These methods might work for a while, but they eventually create gaps, inconsistencies and unnecessary stress. Tasks get missed, documents get lost and reporting becomes far harder than it needs to be.
When an audit arrives or a regulator requests evidence, you suddenly realise how difficult it is to pull everything together.
That’s where a GRC system comes in. A good GRC system helps you manage your policies, risks, compliance obligations, incidents and reporting all in one place. It gives you structure, visibility and peace of mind.
But with so many tools available, it can be hard to know where to start or what to look for.
This guide is here to help you cut through the confusion.
You’ll learn exactly what a GRC system is, why it’s essential for Australian businesses, and which features matter most when choosing one.
What Is a GRC System?
Before you choose a GRC system, it helps to understand exactly what it does and why so many Australian businesses are now relying on one.
GRC stands for Governance, Risk and Compliance – the three pillars that help your organisation operate safely, responsibly and within the law.
A GRC system brings all these elements together into one central platform, so you can manage them in a structured and consistent way.
A GRC system acts as the hub that keeps your organisation organised. Instead of relying on spreadsheets, emails or separate tools, you use one system to store policies, manage risks, record incidents, track compliance tasks and run reports.
Everything is connected, which means you get a clearer view of what’s happening across your business.
8 Signs Your Business Is Ready for a GRC System
You might be wondering whether your organisation needs a GRC system, or whether your current processes are enough.
The truth is, most businesses reach a point where spreadsheets, shared drives and email reminders simply can’t keep up. When that happens, compliance gaps start to appear, risks become harder to track and governance activities become reactive instead of proactive.
Here are some clear signs that your business may be ready for a GRC system.
1. You’re relying too heavily on spreadsheets
If you have multiple spreadsheets for risks, incidents, audits or compliance tasks, you’re probably spending more time maintaining documents than managing the actual issues.
Spreadsheets are easy to break, hard to version-control and almost impossible to keep consistent across teams.
A GRC system removes that risk by giving you one organised and controlled place to manage everything.
2. You have limited visibility over risks
If you can’t easily answer questions like “What are our top risks right now?” or “Who owns each risk?”, it’s a sign that your current approach isn’t working.
A GRC system gives you real-time visibility and helps you monitor trends so you can make better decisions.
3. Policies and procedures are scattered
When staff don’t know where to find policies or worse, they’re using outdated versions – it creates confusion and increases the likelihood of non-compliance.
A GRC system centralises policies, tracks updates and records who has read and accepted them.
4. Incident reporting feels inconsistent
If staff aren’t sure how to report incidents or if reports get lost in inboxes, it becomes difficult to identify patterns or take corrective action.
A GRC system standardises incident reporting and ensures nothing falls through the cracks.
5. You’re preparing for audits in panic mode
If audits feel stressful because evidence is hard to find or tasks are incomplete, a GRC system can completely change your experience.
With everything stored in one place – risk records, policies, actions and compliance logs – you can feel confident instead of overwhelmed.
6. Regulatory pressure keeps increasing
Australian organisations face more compliance obligations every year.
If you’re struggling to keep track manually, a GRC platform gives you structure, reminders and automated workflows to help you stay ahead.
7. Communication is breaking down across departments
When teams use different tools or follow different processes, it becomes difficult to maintain consistency.
A GRC system brings everything together and standardises your governance activities.
8. You’re growing – and complexity is growing with you
As your business expands, so do your risks, policies, obligations and reporting needs.
A GRC system helps you scale your governance processes without adding unnecessary administrative burden.
6 Core Features Every GRC System Should Have
When you’re choosing a GRC system, it’s easy to get overwhelmed by long feature lists and complex technical terms. But the truth is, the best systems share a common foundation.
These core features are what help you stay organised, reduce manual work and feel confident that your governance, risk and compliance activities are running smoothly.
Below are the essential features you should expect from any strong GRC platform.
1. Risk Management Tools
Risk management is one of the most important parts of any GRC system. It helps you identify what could go wrong, assess how serious it is and decide what actions you need to take.
A good risk management module should give you:
- A central risk register where all risks are stored and updated
- Risk scoring tools so you can evaluate likelihood and impact
- Controls and treatments to help you manage or reduce each risk
- Heatmaps so you can see your risk profile at a glance
- Trend reporting to track how risks change over time
- Ownership fields so it’s always clear who is responsible
When this information is centralised, it becomes much easier to make informed decisions and demonstrate strong governance.
2. Compliance Management
Compliance obligations are becoming more demanding for Australian businesses, and manual tracking often leads to missed deadlines or incomplete tasks.
A GRC system will simplify compliance management by making everything more structured and visible.
Look for features such as:
- An obligations library that stores all requirements in one place
- Automated reminders so nothing gets overlooked
- Attestations and task assignments to confirm actions are completed
- Evidence captures to help you stay audit-ready
- Clear compliance dashboards so you can see your progress instantly
This not only supports day-to-day compliance but also removes the stress that comes with audits and regulatory reviews.
3. Policy & Document Management
Policies guide behaviour across your organisation and help ensure everyone understands their responsibilities.
If your policies are scattered across shared drives or stored in outdated folders, staff can’t reliably access the right information.
A strong GRC system should include:
- Centralised storage for policies, procedures and documents
- Version control so only the latest version is used
- Staff acknowledgement tracking
- Scheduled review reminders for policy owners
- Easy distribution to the wider organisation
This keeps your workplace aligned and ensures everyone has the information they need to do their job safely and effectively.
4. Incident & WHS Reporting
Incidents can have serious consequences, especially when it comes to workplace health and safety.
You need a consistent and reliable process for capturing what happened, investigating the issue and tracking corrective action.
A quality GRC system should offer:
- Simple digital forms so staff can report incidents quickly
- Automated workflows to guide investigations
- Corrective action tracking
- Hazard reporting
- WHS compliance alignment
- Audit trails showing how each incident was handled
This not only improves safety but also helps you learn from past events and prevent repeat issues.
5. Audit & Assurance Tools
Audits are a normal part of governance, but they can become stressful if you can’t access the right evidence when you need it.
A GRC system should remove this pressure by giving you built-in audit support.
Essential features include:
- Internal audit planning tools
- Checklists and findings tracking
- Corrective action assignments
- Evidence storage that links directly to risks, controls and obligations
- Historical audit trails
This makes audits smoother and shows regulators or stakeholders that your organisation is well-managed.
6. Dashboards & Reporting
One of the biggest advantages of a GRC system is the ability to see what’s happening across your organisation in real time.
You shouldn’t have to dig through documents or chase people for updates, your system should show you immediately where attention is needed.
Look for:
- Customisable dashboards
- Visual summaries such as charts, heatmaps and progress bars
- Executive-ready reporting
- Exportable reports for meetings or audits
Strong reporting lets you identify trends early, respond quickly and make informed decisions with confidence.
5 Advanced Features to Consider for Future Scalability
Once you’ve covered the core features of a GRC system, it’s time to think about the future.
Your organisation will grow, regulations will change and risks will shift. That’s why it’s important to choose a GRC platform that not only works for you today but also supports your long-term needs.
The advanced features below can help you scale smoothly, reduce manual work and stay ahead in an evolving compliance landscape.
1. Automation & Workflow Capabilities
One of the biggest benefits of a modern GRC system is automation.
The more your system can handle repetitive tasks, the less time you spend chasing people or manually updating records.
Look for automation tools such as:
- Automatic reminders for overdue tasks
- Approval workflows for policies, incidents or risk reviews
- Escalation rules when deadlines are missed
- Pre-built templates for common processes
Automation doesn’t just save time; it improves accuracy and keeps your processes consistent across the organisation.
2. Third-Party & Vendor Risk Management
Most organisations rely on suppliers, contractors and service providers.
While this helps you operate efficiently, it also introduces external risks. Third-party risk management features help you monitor and evaluate these risks before they impact your business.
Useful features include:
- Supplier risk assessments
- Compliance questionnaires
- Contract and obligation tracking
- Risk scoring for vendors
- Evidence collection
This is especially important for industries such as finance, healthcare, aged care and education, where supply chain risks can affect safety, privacy or operational continuity.
3. Cybersecurity & Information Security Controls
Cyber security is now a central part of compliance. With cyber attacks becoming more common in Australia, you need a system that helps you stay aligned with security standards and respond quickly to incidents.
Look for GRC capabilities that support:
- ISO 27001 alignment
- Information security risk assessments
- Data breach reporting workflows
- Incident response tracking
- Control libraries for cyber frameworks
These tools help you stay prepared, protect your data and demonstrate compliance with evolving expectations.
4. ESG & Modern Slavery Reporting Features
Environmental, Social and Governance (ESG) reporting is becoming a priority across industries.
At the same time, the Modern Slavery Act requires certain businesses to formally identify supply chain risks and document actions taken.
A scalable GRC system should support:
- Ethical sourcing assessments
- Modern slavery questionnaires
- Stakeholder reporting templates
- Sustainability-related controls and metrics
While not all businesses need these features today, you may need them in the near future as regulations expand.
5. AI & Predictive Analytics (Emerging Trend)
AI is beginning to play a bigger role in GRC systems. While not essential yet, these features can help you make smarter, faster decisions.
Examples include:
- Pattern detection in risk data
- Predicted risk scores based on trends
- Automated analysis of incidents
- Suggested actions or controls
These tools can help you move from reactive management to proactive prevention – something that will become increasingly valuable as GRC expectations evolve.
What to Look for in an Australian-Focused GRC Vendor
Finding the right GRC system is not just about choosing the right features, it’s also about choosing the right vendor.
When you work with a provider who understands Australian regulations, workplace culture and compliance expectations, everything becomes easier. From onboarding to support, the experience feels smoother and far more aligned with your organisation’s needs.
Here are the key things you should look for when evaluating GRC vendors in Australia.
1. Local Compliance Expertise
Australia has one of the most unique and tightly regulated environments in the world.
Regulations such as APRA CPS 234, ASIC requirements, WHS laws and the Privacy Act require a local understanding. Not every global GRC vendor is familiar with these details, and that can leave you with a system that doesn’t fully match your compliance obligations.
A strong vendor should:
- understand Australian regulatory frameworks
- provide relevant templates and workflows
- stay updated on changes to local laws
This ensures your system remains useful and compliant as regulations evolve.
2. Australian Data Hosting & Security Requirements
Data sovereignty matters. Many Australian organisations, not just in government and finance, prefer or require their data to be stored within Australia.
This ensures compliance with privacy laws and reduces risks associated with offshore data storage.
When assessing vendors, check for:
- Australian-based data hosting
- Certifications like ISO 27001 or SOC 2
- Secure encryption standards
- Strong access controls
Local hosting gives you more peace of mind and may help you meet industry-specific requirements.
3. Local Support & Responsive Service
One of the biggest frustrations with global GRC vendors is slow support or time zone delays.
When you’re dealing with compliance or risk issues, you need fast help – not a 24-hour wait for someone overseas to respond.
A vendor with Australian-based support can offer:
- quicker resolution times
- culturally aligned communication
- a better understanding of Australian business environments
This makes a significant difference in your day-to-day use of the system.
4. Ease of Use & Adoption
A GRC system is only effective if your people use it.
Overly complex systems can lead to confusion, low adoption rates and inconsistent processes. The best vendors offer systems that are simple, intuitive and clear.
Look for:
- easy navigation
- mobile-friendly access
- simple forms and workflows
- minimal training requirements
A user-friendly system increases compliance, reduces resistance and makes your rollout more successful.
5. Balancing Configurability with Usability
Some GRC systems try to offer every feature imaginable – but that often leads to complexity.
Others are simple but not flexible enough to meet your needs. You want a system that sits comfortably in the middle: configurable where it matters, but not overwhelming.
Ask vendors:
- How much can we customise?
- Is customisation easy, or does it require IT support?
- Can the system scale as we grow?
A balanced approach ensures your GRC system works today and adapts to your business tomorrow.
6. Integration Capabilities
Your GRC system should work alongside your other tools, not replace everything or create more work.
Integrations help your data stay consistent across platforms and reduces double-handling.
Look for compatibility with systems such as:
- HR and payroll software
- Learning management systems (LMS)
- Quality or safety platforms
- Document storage tools
- Identity and access management solutions
Good integration ensures your GRC system becomes part of your workflow rather than an extra burden.
Conclusion
Choosing the right GRC system is one of the most important decisions you can make for your organisation.
The right platform helps you stay compliant, manage risks more effectively and build a stronger governance framework that supports your long-term goals.
As Australian regulations continue to evolve, having a system that gives you visibility, structure and confidence isn’t just helpful – it’s essential.
If you’re looking for a GRC system that ticks all these boxes, Sentrient is one of the best choices you can make.
Sentrient’s GRC platform is designed specifically for Australian organisations, with strong support for local legislation, simple user-friendly features and powerful reporting tools. It offers everything you need to manage risks, policies, incidents and compliance obligations in one secure, easy-to-use system.
Whether you’re a small business or a large enterprise, Sentrient gives you the clarity and control you need to operate with confidence.
Ready to simplify governance, risk and compliance?
Book a personalised demo with Sentrient now and see how easily you can transform the way your organisation manages GRC.
FAQs
1. What is the most important feature to look for in a GRC system?
The most important feature is one that helps you stay organised and compliant. For many organisations, this starts with a strong risk management module and policy control tools. You want a system that makes it easy to identify risks, assign actions and keep processes consistent.
2. Do small Australian businesses need a GRC system?
Yes. Even small organisations face risks, privacy obligations and workplace safety requirements. A GRC system helps you stay compliant without adding unnecessary workload. Many smaller businesses choose easy-to-use platforms like Sentrient because they provide structure without complexity.
3. Should a GRC system store data in Australia?
Ideally, yes, especially if you handle sensitive information or operate in a regulated industry. Hosting data in Australia helps you meet privacy expectations and gives you more control over how your information is managed. Sentrient, for example, stores data locally to support these requirements.
4. How much does GRC software cost in Australia?
Costs vary depending on features, user numbers and whether the system is cloud-based. Some vendors price by module, while others offer bundled packages. Most Australian businesses find they can start with a modest investment and scale over time. Sentrient is known for competitive and transparent pricing.
5. How does a GRC system support Australian regulations?
A good GRC system helps you track obligations, record evidence, assign responsibilities and stay audit-ready. It supports frameworks like APRA CPS 234, ASIC requirements, WHS legislation and the Privacy Act. Systems designed for Australia – such as Sentrient – often include local templates and workflows to make compliance easier.
