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Integrated Risk Management Software
Compare All Integrated Risk Management Software
Ventiv IRM
Ventiv IRM
Ventiv IRM is an Integrated risk management software platform that can provide the insights you need to monitor and lower your Total Cost of Risk (TCoR). Make informed decisions with real-time analytics by integrating multiple dat...Read more
Essential ERM
Essential ERM
Essential ERM is a secure web-based Enterprise Risk Management system. Easy-to-use screens and innovative visual features engage business unit managers, executives and board members. Essential ERM is an excellent catalyst to launc...Read more
Gatekeeper
Gatekeeper
Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software. Users can manage contracts and vendor in...Read more
Enablon Risk Management
Enablon Risk Management
Enablon is a cloud-based environment, health and safety (EHS) management solution that helps organizations track the use of natural resources. Enablon allows users to create action plans and ensure proper follow-ups with bui...Read more
AuditBoard
AuditBoard
AuditBoard transforms how audit, risk, and compliance teams manage today’s dynamic risk landscape with a modern, connected platform that engages the front lines, surfaces the risks that matter, and drives better strategic decision...Read more
VendorINSIGHT
VendorINSIGHT
EnterpriseInsight is a SaaS platform that helps users manage business risk. With configurable pre-built risk frameworks, it overcomes the complexities of implementing and updating other ERM-GRC platforms. The interface is equipped...Read more
Software pricing tips
Read our Integrated Risk Management Software Buyers GuideSubscription models
- Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
- Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.
Perpetual license
- This involves paying an upfront sum for the license to own the software and use it indefinitely.
- This is the more traditional model and is most common with on-premise applications and with larger businesses.
Rated best value for money
Riskonnect
Riskonnect
Riskonnect is a cloud-based risk management solution that provides an integrated platform for compliance management, business continuity management, enterprise risk management and audit management. Riskonnect’s risk managemen...Read more
StandardFusion
StandardFusion
Standard Fusion is a cloud-based compliance management solution that is designed for industries such as healthcare, technology, manufacturing, government and retail. Key features include control management, control monitoring and ...Read more
A1 Tracker
A1 Tracker
A1 Tracker Contract Management Software is a cloud-based contract management & lifecycle platform. A1 Tracker's features include contract approval workflow, documents, vendors, audits, reminder notifications, templates, certi...Read more
LogicManager
LogicManager
LogicManager is a cloud-based solution that helps businesses implement and integrate all risk management processes in a customizable platform. The tool enables users to identify and assess high-impact risks and allocate the right ...Read more
NAVEX IRM (formerly Lockpath)
NAVEX IRM (formerly Lockpath)
Recognized as a Leader in the Gartner® Magic Quadrant™ for both IT Risk Management and IT Vendor Risk Management, NAVEX IRM brings visibility to risks frequently managed in disparate sources. It aggregates internal data points fro...Read more
Aperitisoft
Aperitisoft
Aperitisoft software has the ability to provide qualitative or quantitative risk assessments to support the decision making process of a business. Features include survey tools, a Monte Carlo Simulation engine, multiple category ...Read more
Netwrix Auditor
Netwrix Auditor
Netwrix Auditor is a security solution that helps organizations overcome compliance and operational challenges. Netwrix solutions empower you with total control over what's going on in your hybrid IT environment by delivering acti...Read more
Quantivate
Quantivate
Quantivate is a web-based solution, which assists banks, credit unions, insurance, manufacturing and retail businesses with risk assessment and compliance management. Key features include data sharing, vulnerability scanning, KPI ...Read more
Popular Integrated Risk Management Software Comparisons
Buyers Guide
Last Updated: March 11, 2022Efforts to manage organizational risks yield better results when there is a data-based approach. Integrated risk management software adds to that approach by collecting key risk indicator (KRI) data and computing risk across a range of categories. This intelligence informs many decisions about risk management, compliance, and operations.
This buyers guide will explain how integrated risk management software helps companies make better decisions.
Here’s what we’ll cover:
- What is integrated risk management software?
- Common features of integrated risk management software
- What type of buyer are you?
- Benefits of integrated risk management software
- Market trend to understand
What is integrated risk management software?
Integrated risk management software is a tool that helps companies measure and address various kinds of business risks. For example, it helps ensure compliance with policies and regulations.
Integrated risk management software improves upon older governance, risk, and compliance/controls (GRC) tools. GRC tools mostly focus on government regulations and audits and stop short of offering top-to-bottom insights into all the risks an organization faces. That’s where advanced integrated risk management software comes in.
Common features of integrated risk management software
Most integrated risk management platforms offer some or all of the following features:
| Dashboard | Review all your bottom-line statistical insights in graphs and charts in one location. |
| Key risk indicator monitoring | Allow managers to define risk thresholds, observe trends, drill down on metadata, and benchmark goals for various entities. Link directly to controls for compliance and auditing purposes. |
| Risk assessment | Collect and analyze key data about enterprise risk. Monitor industry-specific controls and business processes. |
| Risk mitigation planning | Develop strategies for risk avoidance, control, transfer, or assumption. |
| Compliance management | Track and manage failures to comply with policy in services, products, processes, and supplier behavior. |
| Risk repository | Consolidate risks and supporting risk reports into a single source of truth for your organization. Access this repository on premise or remotely through the cloud. |
| Response management | Track risk status and remediation efforts from a centralized location. Initiate corrective and preventive actions (CAPA) at the root cause of errors to avoid recurrence. |
What type of buyer are you?
Choosing the right integrated risk management software begins with understanding what type of buyer you are. Most buyers fall into one of the following categories.
Small businesses: Many companies with fewer than 100 employees and no IT department may have never used any kind of risk management software before. Look for entry-level integrated risk management software that offers the basic features your company actually needs. Flashy features and attractive displays are less important than selecting a solution that your team can understand and use.
Midsize businesses: Companies with 100 to 1,000 employees tend to have more sources of risk than smaller firms do. Look for solutions that offer deeper customization and KRI benchmarking. Compliance tools should automatically collect data about adherence to company policies and regulatory obligations. Consider integrated risk management tools designed for your industry.
Enterprise businesses: Companies with more than 1,000 employees need richer entity segmentation to track controls by department, business segment, or region. If your risk managers travel or are responsible for multiple facilities, they may prefer cloud access over on-premise solutions. Also, you can improve transparency by choosing a solution that gives your employees access to employee-focused risk dashboards.
Benefits of integrated risk management software
Integrated risk management software offers many data-driven benefits to risk managers and the organizations they protect:
- Create a proactive, risk-aware culture: Naming and addressing risks helps decision makers at every level choose more calculated options.
- Make better use of risk reporting analytics: Monitor each risk's trends and progression. Quantify the real business impact of your risk management decisions. Heat maps, scorecards, graphs, pie charts, and other visualizations summarize complex data at a glance.
- Prioritize risks by assigning accurate scores: Assign and assess values for each risk you define. Evaluate risks based on each scenario's likelihood (from "rare" to "almost certain") and impact (from "insignificant" to "catastrophic").
- Stay organized throughout the risk life cycle: Define new risks at any time and monitor them in context alongside all your other risk mitigation priorities.
Market trend to understand
Risk managers are beginning to calculate risks based on all business decision-making, not just regulatory compliance. For example, a perfectly compliant organization may enact business strategies that prove unpopular among employees. Simple risk management or GRC software would only quantify risks based on compliance with regulations and internal policies. However, integrated risk management software is considered "integrated" because it could be configured to factor in the likelihood and financial impact of an employee strike or other union action. Integrated risk management software quantifies complex variables to provide a complete picture of organizational risk. This data helps companies make better strategic decisions while also addressing traditional GRC objectives.