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Integrated Risk Management Software
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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 about Ventiv IRM
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 about Gatekeeper
Optial SmartStart
Optial SmartStart
Optial SmartStart is a cloud-based governance, risk and compliance (GRC) solution. It serves businesses of all sizes in industries such as banking, insurance, manufacturing and retail. Primary features include compliance managemen...Read more about Optial SmartStart
FaceUp
FaceUp
FaceUp is a comprehensive whistleblowing platform, ethics hotline and HR tool. It is a secure, intuitive and easy to use solution, which allows employees and pupils to report instances of wrongdoing. Anybody can anonymously send r...Read more about FaceUp
Auditor
Auditor
Auditor is a fully automated auditing platform that replaces slow and manual audits with faster and more accurate audits . Auditor supports mainly Web applications, services and social networks to assess their security status. Aud...Read more about Auditor
Risk Cloud
Risk Cloud
LogicGate Risk Cloud® is a no-code governance, risk, and compliance (GRC) platform that scales and adapts to your changing business needs and regulatory requirements. It combines a suite of purpose-built Applications with intuitiv...Read more about Risk Cloud
Resolver
Resolver
Resolver’s risk management software is a cloud-based solution for midsize to larger enterprises that serves customers across a variety of industries and business needs. These industries include banking and financial services, heal...Read more about Resolver
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 about Enablon Risk Management
ZenGRC
ZenGRC
ZenGRC is a cloud-based and on-premise governance, risk and compliance (GRC) management solution. It serves businesses of all sizes in any industry, including technology, retail, consumer goods, health care and finance. Primary fe...Read more about ZenGRC
AuditBoard
AuditBoard
AuditBoard is the leading cloud-based platform transforming audit, risk, and compliance management. More than 35% of the Fortune 500 leverage AuditBoard to move their businesses forward with greater clarity and agility. AuditBoa...Read more about AuditBoard
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 about VendorINSIGHT
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 about Essential ERM
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 about StandardFusion
IsoMetrix
IsoMetrix
IsoMetrix is an award-winning risk management software developer, providing state-of-the-art solutions for EHS, ESG and GRC management. For over 25 years, global companies have trusted IsoMetrix to manage their environmental, heal...Read more about IsoMetrix
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 about A1 Tracker
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 about LogicManager
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 about Aperitisoft
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 about Netwrix Auditor
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 about Quantivate
MyVCM
MyVCM
For organizations operating security programs who need to demonstrate compliance to security standards internally and externally, Ostendio MyVCM is an Integrated Risk Management Platform that Makes it easier to build, operate and ...Read more about MyVCM
Popular Integrated Risk Management Software Comparisons
Buyers Guide
Last Updated: November 18, 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.