List of Top Risk Management Software and Solutions 2023

Nrisk is a secure online enterprise risk management tool that provides your organization with control assessment at the enterprise level, in real-time. With a clear understanding of risk with ERM platform, you can improve exam readiness and reinforce strategic planning. The LogicManager provides a central place for all of our risk, compliance, and auditing programs, it also provides customized workflows that we use the most. We’ve been able to create more streamlined and efficient programs all because of our ability to create our own workflows.

Features automated system-wide investigation, response and reports on vulnerabilities and data breaches to provide complete security. The Qualys Cloud Platform integrates IT, security and compliance into one vulnerability management solution. It provides organizations with global continuous, end-to-end threat detection in real time.

Origami Risk

Starting from $0, HSI is priced at no cost when starting, offers a free trial on occasion and is most applicable for mid-to-large-sized businesses. HSI can be deployed in the cloud and on-premise and is accessible from a limited amount of platforms including Windows and Linux devices. Maintain an up-to-date infrastructure inventory with continuous surveillance and file integrity monitoring.

The software supports users to set thresholds to identify potential threats and mitigate them in advance. The risk management tool sends alerts and notifications on any breach to relevant personnel for faster decision-making. As companies grow and change, their policies must also adapt to the changing environment. A centralized policy management solution within an ERM gives the entire company a centralized location to store policy, reference existing policies, and use those to build risk mitigation plans. ERM tools that offer operational risk management, like Fusion Risk Management, help businesses create and store policies that lower their organizational risk. Enterprise risk management software options will help companies build processes that identify and mitigate risks.

An ERM program and technology implementation cannot be isolated and separated from the rest of the organization. Siloed risk management software often fails to reach and influence other stakeholders. In this situation, ERM is simply a procedure with no collaboration, impact, or systemic adoption―all of which are essential to success. Instead, aim to build a culture of risk awareness across your organization. Highly regulated industries struggle to stay compliant with federal, state, local, and industry-wide regulations that may have complicated paperwork and strict deadlines.

One of the biggest promises of artificial intelligence and machine learning is that of predictive analytics, which can augment legacy data modeling and forecasting tools with speed and greater accuracy. Modeling and forecasting within risk management solutions will help teams prepare for various known and unknown risks and draw up different scenarios to prepare against. Corporater is a global software company that enables medium and large organizations worldwide to manage their business with integrated solutions for governance, performance, risk, and compliance built on a single platform. The connected methodology behind our enterprise risk management software extends across every solution area of LogicManager.

Ready to take the next step with ERM and ORM? We can help.

ERM is a business process with specific steps, milestones, and stakeholders. A reliable and effective ERM framework is based on committed stakeholder involvement and supported by substantial, actionable data and robust intelligence. They are a chance to learn more about us, our products, and how to level up your skills with our tools. Cultivate a risk-aware culture by communicating risk internally across your organization and to the regulatory body (i.e., Management Board).

If you plan to use a risk management software to assist with security, you’ll want to make sure that the product you choose has the specific cybersecurity risk management you may need. Your ERM software should feature tools that allow you to take a risk-based approach to every activity across your enterprise. ERM software may include tools for identifying and assessing risks, risk mitigation suggestions, risk monitoring strategies, reporting engines, advisory services and more. With ERM software, you ideally apply this risk-based methodology to every process and department in your organization. Both ERM and risk management solutions are made to protect businesses from threats by identifying, quantifying, and minimizing risky situations. However, ERM is a specific type of risk software intended for larger corporations within the fields of finance, healthcare, retail, and insurance.

Product Integrations

Promote a culture of risk-based decision-making with advanced reporting and analytics. By analyzing top and emerging risks, you’re better positioned to focus on actions that improve your organization’s risk landscape. Enterprise risk management software allows you to Integrate your ERM strategy with your current management processes. The Risk Register in isorobot helps in gaining control over every single risk that has a proper budget plan, impact analysis, and assessment.

• From that base, it’s time to jump off and tailor your experience to your needs with our highly skilled teams and one-to-one implementation approach guiding you to value every step of the way.
• You can set up a compliance framework to detect and remedy failures automatically.
• Stay updated on the status of implemented actions at every stage and track them to closure.
• A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure.
• It allows users to monitor a continuous feed of operational data, connected devices and user accounts to respond to vulnerabilities in real time.

From that base, it’s time to jump off and tailor your experience to your needs with our highly skilled teams and one-to-one implementation approach guiding you to value every step of the way. Fintech Providing your organization with the information and capability to manage risk and compliance, making you a more attractive vendor to clients in the financial services industry. We help you break down the silos, allowing your organization to collaborate for seamless, comprehensive risk management and compliance on the enterprise level. The Quantivate GRC Platform’s Report Builder equips users to organize and visualize GRC program data with drag-and-drop ease.

TECHNOLOGY TO MAKE ENTERPRISE RISK MANAGEMENT MORE REWARDING

Resilinc is a well-known software tool that ranks 34 among all Risk Management Software according to our research analysts and 1 crowd-sourced review from 1 source. Starting from $1400, Resilinc is priced moderately, commonly offers a free trial and is most applicable for small-to-mid-sized businesses with less than 1000 employees. Interos is a premier solution that ranks 20 among all Risk Management Software according to our enterprise software solutions research analysts. Interos can be deployed in the cloud and on-premise and is accessible from a fewer number of platforms including Windows and Linux devices. ComplySci is a high-profile application that ranks 18 among all Risk Management Software according to our research analysts and 14 crowd-sourced reviews from 1 source. Starting from $3000, ComplySci is priced moderately and is most fitting for all company sizes.

The prepackaged solutions give flexibility, enabling clients to adapt based on their own interpretation of a regulation. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. From their day-to-day screen, they can slice and dice and drill down to the finest calculation inputs, such as trades, sensitivities, reference data and scenarios.

When you sign on with us, we make sure to pair you with an advisor who is genuinely invested in your success and helps you use LogicManager’s risk management software to its fullest potential. LogicManager’s ERM software can connect all your enterprise risk management, governance, and compliance activities in one centralized hub. This will allow you to save time while improving your business performance with a structured and systematic approach.

Good platforms will do all the heavy lifting for you, thoroughly analyzing system vulnerabilities and third-party risks across all operational domains. As you encounter newer and more advanced threats, you can keep adding definitions to the risk dictionary for a more secure future. Risk management software provides a real-time inventory of existing IT infrastructure, endpoint devices and web applications. You can track every item’s security and compliance posture without breaking a sweat. Ensure audits are data-informed and performed based on where risk is present in your organization rather than on a rotating schedule.

Riskonnect IRM

You may not need ERM software if your company is very small, with no board of directors or governing bodies. Perhaps at this point in your company history no serious risks have taken place, however, without an enterprise-wide view, unforeseen risks could arise at any given moment. The price of ERM software varies greatly depending on which vendor you select. Some ERM software vendors offer platforms for $20,000 or less, while others offer more premium applications and services that put their prices higher, closer to $40,000. To determine the price of an ERM software vendor, since software product offerings often greatly vary based on user needs, you’ll usually need to meet with a representative from their company to receive a customized quote. It’s also important to note that in many cases, the cost of professional services that are needed to use an ERM platform can be significantly more expensive than the cost of the actual software.

What is enterprise risk management (ERM)?

Comes with interactive dashboards for real-time updates on current compliance status. It includes an auditing program, internal audit controls, SOX reporting, and IT and performance auditing functionalities. SoftExpert ERM software enables organizations to identify, analyze, evaluate, monitor, and manage their enterprise risks using an integrated approach. The solution streamlines the risk assessment process, while the risk heat map feature enables organizations to set their priorities and make strategic decisions based on risk levels. Navex Global provides integrated security and compliance management solutions that handle a full range of risk assessments and response protocols.

Ncontracts is a leading application that ranks 25 among all Risk Management Software according to our research analysts and 19 crowd-sourced reviews from 1 source. Starting from $0, Ncontracts is priced at no cost when starting, commonly offers a free trial and is most fitting for businesses large and small. ZeroFOX is a premier software product that ranks 19 among all Risk Management Software according to our research analysts and 1 crowd-sourced review from 1 source. Starting from $99, ZeroFOX is priced reasonably and offers a free trial on occasion. ReliaQuest is a prominent software system that ranks 12 among all Risk Management Software according to our research analysts.

Many MX.3 ERM solutions come with prepackaged regulatory content to accelerate project implementations. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes.