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The Top 10 Enterprise Risk Management Tools

Download this e-book for guidance on gathering the facts and articulating the value of ERM software to cultivate support among decision-making leaders. Easily create prebuilt or customized reports with a drag-and-drop report builder. Involve people at all levels and functions – and assign responsibility and accountability for identifying and managing risk in everyday work. Riskonnect’s ERM software speeds up data collection and validation, so you can move on to more important things. Ever had to explain why you weren’t prepared for an event that seemingly came out of nowhere? Riskonnect’s ERM software brings together all risk-related information into one platform so you know what you’re facing before it can surprise you.

enterprise risk management software

Our pre-built, configurable risk assessments criteria standardizes data so what you’re collecting is always comparable. MetricStream is the global SaaS leader of Integrated Risk Management and Governance, Risk, and Compliance solutions that empower organizations to thrive on risk by accelerating growth through risk-aware decisions. We connect governance, risk management and compliance across the extended enterprise.

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Risk managers can rely on a robust software solution that allows them to quickly and accurately assess their risks. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Forecast the potential impact of risk events and management strategies on overall organisational performance.

ERMS includes more tools for both internal and external risk assessment, mitigation, and remediation that can create a macro-view of the enterprise’s risk culture. This can include tools to identify and manage risk from vendors, subcontractors, and other third- and fourth-party sources. SoftExpert software for enterprise risk management offers different alternatives to execute risk mitigation and keep risks under an acceptable level. Organizations can rely on a fully integrated project management system to select, implement and monitor risk responses being supported by an entire set of capabilities offered by a robust project management system. Likewise, action plans and remediation activities make the process of managing risk response strategies easy, offering simple alternatives for risk treatments. RSA Archer provides enterprise solutions to manage governance, policies, deficiencies, risk and compliance.

enterprise risk management software

Design control test plans and assessments and rate the operational and design effectiveness of the controls, leveraging questionnaires and surveys as required. Understand the control evaluation status and analyze the results using interactive dashboards. Connect and coordinate with risk owners in an intuitive enterprise risk management process.

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Features include qualitative and quantitative risk assessments, performance management, heatmaps and more. Active Risk Manager’s risk performance manager tool helps businesses develop and share reports using in-built templates, facilitating strategic decision making and employee engagement. Corporater ERM solution enables you to continuously assess risks and threats posed to your organization’s operations and objectives. The solution enables automated aggregation of risks up the chain and provides a systematic flow of information that aids in an efficient, risk-based decision making. Conduct risk assessments and keep track of risk treatments and controls across your projects, portfolios, departments, business units, divisions, regions, and countries.

  • Create a clear picture of your enterprise risk environment from multiple risk data sources.
  • If you need more detailed information about the features and benefits of ERM software, you may fill out this form for an obligation-free consultation from Software Advice.
  • With CURA’s Governance Risk Compliance, users can identify risks and regulatory requirements at any stage of the project.
  • Using Diligent Compliance’s dashboards and reports, administrators can analyze compliance requirements, identify issues or discrepancies and build suitable remediation strategies.
  • They can also be used for greater visibility into risks of possibly beneficial actions, such as investments or contracting services.

Risk Identification and Analysis The first step to building a risk-free workplace is identifying and assessing risks across new and existing projects. With access to an up-to-date risk database, you can continuously scrub your processes for potential threats and alert relevant risk managers for immediate triage. ServiceNow is enterprise risk management software that unifies your processes into Governance, Risk, and Compliance programs. The goal is to achieve a centralized, comprehensive risk management process to maintain accurate reports and risk prioritization. Via YoutubeA1 Tracker is a user-friendly risk management software with features like threat and risk assessments, alerts, log history, risk audits, web portal, risk ratings, and more. NTask is user-friendly and comes with pleasantly neutral tones on its intuitive dashboard.

ERM software lets you track outstanding paperwork and deadlines, along with any changes in existing regulations. This is a significant upgrade for prioritizing tasks and identifying early signs of noncompliance. Once you’ve established a sizable repository, you need to regularly audit it for maximum efficacy. The system works in tandem with existing risk tolerance thresholds to red flag potential vulnerabilities and prepares a viable remediation strategy. Having all the relevant data in hand makes the job easier for your risk owners. It provides the insight necessary to find a balance between your company’s risk tolerance and risk appetite.

Explore the right questions to ask before buying a Cyber Governance, Risk & Compliance solution.

Allows users to access all the data securely within a single interface for better reporting and analytics. Features automated system-wide investigation, response and reports on vulnerabilities and data breaches to provide complete security. Risk assessments automatically, manually or ad-hoc using customizable workflows. Risks can be assigned to the right people, while notifications and reminders help keep everyone on track.

The platform is highly configurable and is built for the health and safety management of an organization. Integrum helps companies in identifying potential risks before, during and at the end of a project using the artifacts for incident, investigation and document management. Integrum’s BI reporting system allows users to create dashboards, reports and graphical analysis of their mitigation plans. Is a suite of enterprise risk management applications, deployed on-premise or hosted in the cloud, which enables medium to large businesses to identify, analyze and mitigate significant risks across the organization.

enterprise risk management software

Configure, adjust and monitor internal and third-party IT system data connections and integrations with Benchmark applications and workflows. Enhance decision making, protect workers and improve processes by integrating wearables and smart devices. Establish direct, efficient and secure data connection between Benchmark applications and external IT systems based on industry standard Application Programming Interface infrastracture. Complementary to the on-premises deployment model, XVA solutions can leverage a version-agnostic business process as a service offering for intensive computation.

Plan a systematic approach to risk identification, measurement, and monitoring. Clearly identified relationships help to understand how various risks interconnect with one another and the wider business, providing in-depth, practical insights – a key element that spreadsheets struggle to provide. SharpCloud transforms and connects your siloed data imported from Excel, SharePoint, and other line of business tools into compelling and easy to understand visuals. Maintaining business operations in an increasingly complex and unsettled environment requires proactive, integrated solutions across people, data, and infrastructure to ensure alignment when challenges arise. The system provides specialized reporting and risk prioritization modules along with streamlined audit management workflows that make it a good fit for all intents and purposes. If yes, then you should look for options that specialize in compliance management.

Project Risk Manager

SAI360 is a cloud-based risk and compliance management platform that detects, prevents and responds to threats in real time. Automate all risk procedures with configurable workflows and set up business continuity plans in case of disasters or crises. It helps eliminate information silos and get complete visibility into the organization’s risk status.

Decision Focus empowers you with the tools you need to manage environmental, social and corporate governance. Working from a predefined template, the DFN team helps tailor your solution to match perfectly your organisation’s specific risk landscape. Mapping your proposed remediation actions against identified risks helps your organisation navigate within its acceptable risk limits. It is described by the vendor as a complete GRC platform, providing a comprehensive set of applications and workflows integrated into a single platform, for compliance, legal, or HR professionals. You can write, customize, and deploy easily, many different types of surveys, quality control quizzes, questionnaires and the like for your business. Easily monitor if benchmarks are being met by assigning tasks to individuals or a team.

SoftExpert ERM

ERM software alerts businesses about potential risks to prevent losses and subsequent business failure. Companies can analyze these alerts and thereafter use the findings to frame relevant risk management policies, avoid risk-prone processes, and eliminate the chances of exposure to familiar risks. While some risks like natural calamities and accidents cannot be foreseen, others such as financial, strategic, and operational risks can be managed and mitigated using the proper risk management framework. Enterprise risk management software enables risk and compliance leaders to more effectively and proactively protect their organization from loss, fines, and adverse impacts.

ERM software is the first line of defense against potential threats and vulnerabilities that can threaten an organization’s day-to-day functioning. It automates threat identification, fraud detection and regulatory compliance to minimize risk exposure for both the company and its clients. Threat and vulnerability analysis tools monitor systems and projects, analyze the potential for business risk inherent in those projects, and alert administrators. Many of these tools will also rank risks, to give administrators a prioritized list of tasks.

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Decision Focus is designed to be configurable to the needs and maturity level of your business – and to evolve with you over time. 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. RMS products, on the other hand, are geared toward enterprise software for 2031 risk analysis and addressing across multiple departments or operational silos with business strategy and objectives. Risk, in this way, is instead a way to measure project or organization performance. While this can include ways to avoid fines and other penalties, it can also be used to calculate positive outcomes of risk-taking activities, such as investment.

Holistically Assess, Control, and Minimize Workplace Risks with a Configurable Digital Framework

Avoid lawsuits, fines, and penalties via regulatory compliance managed through an ERM platform. A governance, risk, and compliance application can track changing laws to ensure you remain compliant in every territory. This customizable risk assessment lets you improve your management system by knowing industry-specific problems.

#7. CURA’s Enterprise Risk Management

Enterprise Risk Management is an integrated and joined up approach to managing risk across an organization and its extended networks. It’s the process of identifying and addressing methodically the potential events that represent risks to the achievement of strategic objectives, or to opportunities to gain competitive advantage. It’s a multifaceted process aimed at minimizing the risk to a company’s capital and earnings. From energy to infrastructure, supply chains to airport security, hospitals to housing, effectively managed risks help societies achieve. In our fast paced world, the risks we have to manage evolve quickly and we need to make sure we minimise their threats and maximize their potential.

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