When existing tools are enough
A spreadsheet or SharePoint list can be entirely adequate for a small, stable portfolio with one owner, few approvals and infrequent reporting. The case for separate software is not that Excel cannot store rows.
Where maintenance cost appears
The cost emerges in maintaining framework logic, approval routes, evidence lineage, reminders, periodic reviews, conditions, material-change history and repeatable board reporting. Internal workflow tools can reproduce those functions, but the organisation then owns the design and ongoing maintenance.
When a dedicated system becomes credible
A separate product becomes more compelling when the organisation has multiple accountable owners, sensitive or high-impact uses, recurring approvals, evidence requests and quarterly or six-monthly management reporting.
Where Swell fits: the product turns these governance principles into a maintained register, explainable triage, evidence, approvals, review and board reporting. It does not replace legal, privacy, security or professional judgement.