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Compare the Top Risk Management Software of 2021

Risk Management Software Guide

Risk management software assists companies in the process of preventing and solving any potential finance, operational, legal and regulatory risk. Compare the best Risk Management software currently available using the table below.

  • 1
    Fusion Framework System

    Fusion Framework System

    Fusion Risk Management

    The Fusion Framework System lets you visualize your business, products, and services from a customer perspective. Our platform gives you easy, visual, and interactive ways to explore every aspect of your business so you can identify single points of failure and key risks. Whether you’re focused on building and maturing fundamental risk capabilities or transforming your program to meet the operationally resilient needs of the market, Fusion meets you on your journey and can be configured to your needs. - Visualize how intricately processes and business operations are linked to one another - Engage users across the enterprise with automated workflows - Inform key stakeholders with critical information that enables strategic decision-making in real-time

    Starting Price: Contact Us Partner badge
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  • 2
    Hyperproof

    Hyperproof

    Hyperproof

    Hyperproof makes building out and managing your information security frameworks easy by automating repetitive compliance operation tasks so your team can focus on the bigger things. The Hyperproof solution also offers powerful collaboration features that make it easy for your team to coordinate efforts, collect evidence, and work directly with auditors in a single interface. Gone are the days of uncertainty around audit preparation and compliance management process. With Hyperproof you get a holistic view of your compliance programs with progress tracking, program health monitoring, and risk management.

    Starting Price: $800 per month
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  • 3
    Enterprise Process Center (EPC)

    Enterprise Process Center (EPC)

    Interfacing Technologies

    Interfacing’s Digital Twin Organization software provides transparency and Governance to improve Quality, Efficiency, and ensure Regulatory Compliance. Map, analyze, and automate processes, manage regulatory compliance, assess risks within a single platform! Interfacing’s digital twin solution (Enterprise Process Center - EPC) is an enterprise management system that helps companies digitalize processes to streamline operations, increase productivity, and continuously improve. Interfacing’s digital business platform – Rapid Application Development (RAD) Tools, with its Low-Code Development methodology will optimize usage of your technical resources and maximize transparency for ongoing improvement. Discover how our Low-Code Rapid Application Development module provides all the tools to create and deploy Custom, Scalable, Secure, and Mobile ready Applications in Days vs. Months!

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  • 4
    AuditBoard

    AuditBoard

    AuditBoard

    AuditBoard is the leading cloud-based platform transforming how enterprises manage risk. Its integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, controls management, risk management, and workflow management. AuditBoard’s clients range from prominent pre-IPO to Fortune 50 companies looking to modernize, simplify, and elevate their functions. AuditBoard is the top-rated GRC and audit management software on G2, and was recently ranked as the third fastest-growing technology company in North America by Deloitte.

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  • 5
    AppTrana

    AppTrana

    Indusface

    AppTrana is a fully managed Web application firewall, that includes Web application scanning for getting visibility of application-layer vulnerabilities; instant and managed Risk-based protection with its WAF, Managed DDOS and Bot Mitigation service, and Web site acceleration with a bundled CDN or can integrate with existing CDN. All of this backed with a 24x7 Managed Security Expert service to provide custom rules and policy updates with zero false positive guarantee and promise.

    Starting Price: $99/month
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  • 6
    Camms.Risk

    Camms.Risk

    Camms

    Better equip your organization to make the right business decisions with Camms.Risk, an easy to use Risk Management Software solution. Make operational risk management part of your company culture so you can identify, track and manage risks with confidence. Cloud-based and ISO 3100:2009 & COSO framework compliant, Camms.Risk features a simple user interface, pre-configured risk, incident & hazard management templates and easy-to-read dashboards to improve visibility across all organizational levels.

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  • 7
    LogicGate Risk Cloud

    LogicGate Risk Cloud

    LogicGate

    LogicGate is an agile GRC process automation platform that combines powerful functionality with an intuitive design to enhance enterprise governance, risk, and compliances programs. With our prebuilt process templates, organizations quickly and efficiently operationalize their GRC activities without requiring support from consultants or corporate IT.

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  • 8
    Parapet

    Parapet

    Parapet

    Using a unified approach, Parapet helps you manage your enterprise's risks, compliance, audit, health and safety in one place. Parapet enables you to develop a culture that is risk-aware and prepare for the worst-case scenarios. Parapet also helps the enterprise adopt technologies that improve decision making and performance.

    Starting Price: $3.00/month
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  • 9
    Donesafe

    Donesafe

    Donesafe

    Donesafe, #1 cloud-based all-in-one HSEQ platform that connects your management system from workers in the field to the management team in the boardroom. Donesafe makes it fast and easy to access, enter, and report HSEQ data in real-time. Donesafe is a modern & fresh platform with end to end functionality. It works online with any device, including offline with native iOS and Android apps. Use our out-of-the-box templates or configure to align with your business requirements.

    Starting Price: from $600 annually Partner badge
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  • 10
    RiskWatch

    RiskWatch

    RiskWatch

    RiskWatch risk assessment and compliance management solutions use a survey-based process for physical & information security in which a series of questions are asked about an asset and a score is calculated based on responses. Additional metrics can be combined with the survey score to value the asset, rate likelihood, and impact. Assign tasks and manage remediation based on survey results. Identify the risk factors of each asset you assess. Receive notifications for non-compliance to your custom requirements and any relevant standards/regulations.

    Starting Price: $99/month/user Partner badge
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  • 11
    Vulcan Enterprise

    Vulcan Enterprise

    Vulcan Cyber

    At Vulcan Cyber we’re changing the way businesses reduce cyber risk through vulnerability remediation orchestration. We help IT security teams go beyond remedial vulnerability management to help them drive vulnerability remediation outcomes. The Vulcan platform consolidates vulnerability and asset data, with threat intelligence and customizable risk parameters to deliver risk-based vulnerability prioritization insights. But we don't stop there. Vulcan remediation intelligence takes the vulnerabilities that matter to your business and attaches the remedies and fixes needed to mitigate the threat. Then Vulcan orchestrates and measures the rest of the remediation process with integrations and inputs into application security, DevSecOps, patch management, configuration management, and cloud security tools, teams and functions. From scan to fix, Vulcan Cyber delivers the unique ability to orchestrate the entire vulnerability remediation process to GET FIX DONE at scale.

    Starting Price: $999 / month
  • 12
    MasterControl

    MasterControl

    MasterControl

    MasterControl Quality Excellence solutions are used by five of the largest regulatory agencies in the United States. A leading software-as-a-service (SaaS) provider, MasterControl helps companies get their life-improving products to market sooner. It does this by providing cloud-based solutions that manage an organizations documents, training and exams, corrective/preventive action, validation, and more. And its not just quality MasterControl has solutions for the entire product lifecycle.

    Starting Price: $25,000/ 1st year
  • 13
    TOPIA

    TOPIA

    Vicarius

    With hundreds of new software and OS vulnerabilities detected each month, reducing organizational security risk can become overwhelming. TOPIA's vulnerability management toolbox provides a quick and efficient way to analyze, prioritize, and remediate cyber threats before they're exploited—with or without a security patch. TOPIA's is a cloud-based cost-effective vulnerability assessment tool, actively identifies risks, and eliminates threats using proprietary xTags™ and Patchless Protection™ that go beyond traditional vulnerability management. TOPIA continuously conducts real-time risk analysis and tracks each phase of remediation, so you're always in the loop about your organization's cyber health. TOPIA allows you to get more done faster with risk-prioritization parameters, auto-security patch and efficient reports on your team's progress and performance.

    Starting Price: $5/month/machine
  • 14
    SiteDocs

    SiteDocs

    SiteDocs

    Your Safety & Compliance Made Easy! A business that operates in industries involving Construction, Oil & Gas, Mining, Manufacturing, Mechanical, Electrical, Plumbing, Heating, and Excavating know first hand the importance of staying in compliance with mandatory documentation. In addition, how a company manages to keep everything organized is equally important. SiteDocs is a highly interactive advance Safety Management System that takes organizations from pen-and-paper archiving to a complete, cloud-based, digital workspace. Built with features that allow users to work remotely, mobile, and even offline, the system can virtually be accessed across multiple devices that run on iOS or Android. Employees can now easily complete & sign forms, upload photos with comments and acknowledge receipt of important documentation. All while admin users ensure that staff records, reports, and certifications are automatically updated using system parameters within the web-based panel.

  • 15
    Integrum QHSE Risk & Compliance Software

    Integrum QHSE Risk & Compliance Software

    integrum Management Systems

    integrum is a user-friendly, flexible, yet comprehensive, integrated management system for Governance, Risk & Compliance, Safety, Health, Environment, Quality Management System. Assisting over 1.5 million users from businesses of all sizes across the globe to streamline processes, reduce risks and accelerate business growth. integrum offers off the shelf business processes, that can be used as-is, modified or processes can be configured to your specific requirements. Drag and Drop functionality allows for quick and simple configuration of any business process. Supported by mobile apps (Apple and Android) that allow the flexibility for any business process to be completed in the field in real-time. Then, we use all of the data your team is generating and provide real-time business intelligence reports that provide insights into what is happening in the business. Allowing the business to make fast, data-driven decisions, and providing governance over the business.

  • 16
    TurnKey Lender

    TurnKey Lender

    TurnKey Lender

    TurnKey Lender is a global leader in ULM (Unified Lending Management) solutions and services. The company provides an end-to-end system that automates every step of the lending process, from the loan application and borrower evaluation to origination, underwriting, servicing, collection, reporting, compliance, and more. The system is powered by proprietary deep neural networks and machine learning algorithms that allow for unmatched credit decisioning accuracy and overall security. TurnKey Lender offers award-winning Loan Origination Software powered by proprietary AI-driven technology, machine learning algorithms, and deep neural networks. With this system, loan decisions can be made in under 30 seconds with superior decisioning quality. It is achieved with the help of the TurnKey Lender decisioning engine which allows for in-depth adjustment of the scorecard and decision rules. The system fully automates all steps of the lending process through the loan's disbursal.

  • 17
    Certainty Software

    Certainty Software

    Certainty Software

    Certainty is a powerful and trusted enterprise-level audit and inspection software solution to manage and report business risk, compliance and performance metrics easily and efficiently. Used by more than 100,000 professionals to complete over 2,000,000 audits and inspections annually, Certainty Software is an audit and inspection management solution that provides all you need to easily collect, collate and report consistent, accurate and meaningful metrics across your business. Certainty allows for data entry from paper, browser, Excel import or the Certainty app for smartphones and tablets and provides all you need to design and manage audit/inspection checklists; collect and report audit/inspection data and manage and mitigate the risks, incidents and issues identified in the audit/inspection process.

    Starting Price: $14 per user per month Partner badge
  • 18
    Netwrix Auditor

    Netwrix Auditor

    Netwrix

    Netwrix Auditor is a visibility platform that enables control over changes, configurations and access in hybrid IT environments and eliminates the stress of your next compliance audit. Monitor all changes across your on-prem and cloud systems, including AD, Windows Server, file storage, databases, Exchange, VMware and more. Simplify your reporting and inventory routines. Regularly review your identity and access configurations, and easily verify that they match a known good state.

  • 19
    WipeDrive

    WipeDrive

    WhiteCanyon Software

    WipeDrive allows home users, corporations and government entities to securely and permanently erase data from hard drives, removable media, and mobile devices, providing a cost-effective, secure, and socially responsible way of recycling and retiring computer storage. WipeDrive is the world leader in secure data destruction.

    Starting Price: $19.95/one-time/drive
  • 20
    The Lean Machine

    The Lean Machine

    Lean & Mean Business Systems

    Harness the power of a robust and powerful quality management software (QMS) system with The Lean Machine. Validated and 21 CFR Part 11 compliant, The Lean Machine is a cutting-edge all-in-one quality and material management system packed with key features, such as remote desktop support, animated training tutorials, customized integrations, including QuickBooks or ERP integration. Core modules include document management, quality management, organizational management, risk management, inventory management, compliance management, and more.

  • 21
    ProjeQtOr

    ProjeQtOr

    ProjeQtOr

    ProjeQtOr is an open source project management software grouping in a single tool all the features needed to organize your projects. It is simple, easy to use while covering a maximum of project management features. Its particularity, in addition to its completeness, is to be quality oriented. This means that you can record all the events on your projects, and thereby simplify compliance with leading standards of quality management, whether ISO, CMMI, ITIL or other.

    Starting Price: 0
  • 22
    StaffCop

    StaffCop

    Atom Security

    StaffCop provides a unique, fully integrated solution that focuses on detection and response to insider threats through a combination of advanced behavioral analysis and context-rich logging of insider activity. Collect Collect all activity events at the end points for subsequent analysis, notifications and decision making. Analyze Automatic and statistical analysis of data to detect anomalies of user behavior, identify incidents, insiders and disloyal employees. Alert Automatic alerts about violations of security policies, dangerous and unproductive activities of employees. Report Pre-configured & self-made reports width periodic e-mail sending. You can easily create reports with a powerful constructor. Block Blocking access to "negative" sites, running applications and removable USB-storages to reduces the risk of malware infection and increase employee productivity. Review Search for all data for keywords and regular expressions, easy correlation & drilldown

    Starting Price: $69.00/one-time/user
  • 23
    Direct Claim Solution

    Direct Claim Solution

    Innovative Computer Systems

    Claims and Litigation management software for Captive or Risk Retention Group property and casualty claims. Direct Claim Solution is a complete system with claims, policy and vendor management for Self-Insured, Captive or Risk Pool programs. Offers industry specific tools for investigating and analyzing law as well as coverage. Modules for litigation management, subrogation and loss recovery as well as document management included. Merge feature makes for easy letter or email creation. For management, the robust report screen allows multi-conditional querying of claims by exposure type, state of loss, date ranges and policy issuance periods. Vendor isolation feature allows external service providers to access and populate fields in the system as needed to expedite reporting and collaborative analysis. See our website at www.directclaimsolution.com

    Starting Price: Monthly License fees starting at $1,700
  • 24
    Sofvie

    Sofvie

    Sofvie

    Sofvie is a software and service company focused on minimizing workplace hazards and aligning workplace culture using collaborative intelligence. We provide an all-in-one transformative system leading to enhanced productivity and due diligence.

  • 25
    StandardFusion

    StandardFusion

    StandardFusion

    A GRC solution for technology-focused SMB and Enterprise Information Security teams. StandardFusion eliminates spreadsheet pain by using a single system of record. Identify, assess, treat, track and report on risks with confidence. Turn audit-based activities into a standardized process. Conduct audits with certainty and direct access to evidence. Manage compliance to multiple standards; ISO, SOC, NIST, HIPAA, GDPR, PCI-DSS, FedRAMP and more. Manage vendor and 3rd party risk, and security questionnaires easily in one place. StandardFusion is a Cloud-Based SaaS or on-premise GRC platform designed to make InfoSec compliance simple, approachable and scalable. Connect what your organization does, with what your organization needs to do.

    Starting Price: $750 per month
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An Introduction to ERM Software

Enterprise risk management (ERM) software helps businesses follow regulations and protects against losing time and money. This critical tool is used in many industries or types of businesses: from healthcare and finance to insurance and retail, among others. For example, financial analysts use the software to look at cost effectiveness and waste of projects and legal specialists may use ERM tools to check compliance. ERM software not only protects against hackers’ attacks like DNS and DDos attacks on information but also identifies risks that could stifle or close down a project.

Risk is a part of any business. Owners or managers need to think through all of the potential issues that could arise plus their potential impact on the budget, project and business as a whole. Once identified, risks are put into two main categories: acceptable or unacceptable. After all, some businesses can manage the risks whereas others cannot. Teams make plans or projects with potential issues or roadblocks in mind. This lower the potential impact of any issue and helps team work efficiently on the project.

The following guide gives an overview of how to best use the different types of software available today and how it can support businesses and increase potential growth goals. This is also a chance to consider your type of business and which software model is best for you.What Is Risk Management Software?

The Different Features of ERM Software

One of the main reasons for ERM popularity and usage is linked to software breaches. New state and federal regulations were implemented to dissuade hackers from stealing information. From 2015 to 2016, security breaches increased more than 40 percent. This not only affects businesses’ information and customers’ privacy but also damaged one’s reputation. Everything from home addresses to credit card information is stored in cloud software systems. Having the right ERM software helps businesses take back their security. This is a chance to look at potential weaknesses and close them up before an issue happens.

ERM speaks to all types of businesses because information is a universal commodity. Common ERM features include:

  • Threat or Risk Analysis
  • Financial Reporting and Audit Support
  • Compliance Management
  • Forecasting
  • Incident Report Management
  • Third-Party or Vendor Risk Assessment
  • IT Regulation
  • Policy Management
  • Alerts & Notifications

When choosing the right software for your business, consider how it integrates with existing systems and records. After all, you want to easily upload your records to this software. Time is money and the best tools are those that work with your organization. A lot of risk management software vendors have a host of integration services to make it easy for a business to update their technology. When comparing vendors, consider if they have the following options:

  • On-site support or databases
  • Cloud databases
  • CRM, document management, and fleet management software
  • Accounting and Legal support tools
  • Supply chain management
  • Document management tools

Understanding Usage

Different positions and industries require different needs from their software. Understanding your intentions means you can choose the right tools for you. For example, some folks just need their documents digitized, organized and protected whereas others need to make sure their government contracts are in order. The following information should help you better understand how you might use ERM software.Risk Management Software Features

A lot of businesses use ERM software to assess internal systems and the flow of information. For example, one could use the tools to see how much a project will cost and to identify the risks. This s also a chance for managers to see how much is on an individual employee’s plate and how information is accessed and used. ERM software is a great way to manage the internal side of the business to make sure time and resources are not exploited or wasted.

It is important for businesses to follow the state and federal regulations in place to protect businesses and customers. Software is a great way to make sure all contracts and agreements are in order. This protects a business’s intellectual property and makes sure that everything is in order with third-party groups.

Human resources and finance departments use ERM software to control business resources. This is an easy way to see if a project is under- or over-staffed, to see how projects could be more efficiently managed, and to organize key documents. All of this improves both employee satisfaction and customer satisfaction.

ERM software allows financial groups to understand external and internal risks and to better manage the flow of money both in and out of the organization. This is also a great tool to detect potential fraud and to better protect key information. After all, managers and owners can limit access to key information and set up policies and procedures that protect the organization. Lastly, by staying on top of regulations, one avoids having to go through an extensive audit and potential fines.

How to Compare ERM Software

The sky is the limit when it comes to ERM software options. For example, a business can purchase stand-alone products or invest in a large ERP suite. The first thing a business should consider is their budget and the second thing to consider is how the software will be used and by whom in the organization. Businesses that operate in information or finances may not need a full supply chain or warehouse management system, but a business with products being shipped will need this capability. Businesses should also consider how they might grow in the next couple of years. When considering the best ERM software, consider identification, assignment, prioritization and response planning and implementation.

Identification means considering the risks that affect a company both internally and externally. If you already know your weaknesses, this will help you zero in on the desired features of your ERM software. Additionally, consider what you are lacking. If you still have file folders of documents, then you may need document management. If your businesses is just beginning to up its technology game, then you may need integration services.

Assignment are the features that determine the outcome of risks. For example, what could happen if you waste time or do not follow through on regulations? Consider how software will work when used with other business applications like CRM software. Once you identify risks, you have to prioritize them. You cannot tackle every weakness at the same level. ERM software allows you to look at risks on a dashboard and really consider them. An owner or manager can then make a timeline of actions.

Response planning is important for any organization. You should know what you will do in the event of an emergency or issue. The best businesses have rich staff manuals and policies and procedures in place to ensure everyone is on the same page. Understanding the proper steps everyone should go through makes it easier to deal with an audit. Response implementation refers to the software features that help organizations implement risk management plans. There are tools for people who need support with contracts, regulations or accounting. Additionally, there are project management tools too.