Find the best Risk Management Software
Showing 1 - 20 of 688 products
Reviews: Sorts listings by the number of user reviews we have published, greatest to least.
Sponsored: Sorts listings by software vendors running active bidding campaigns, from the highest to lowest bid. Vendors who have paid for placement have a ‘Visit Website’ button, whereas unpaid vendors have a ‘Learn More’ button.
Avg Rating: Sorts listings by overall star rating based on user reviews, highest to lowest.
A to Z: Sorts listings by product name from A to Z.
TeamMate+ Audit is a cloud-based audit management tool for businesses of all sizes to improve the visibility, efficiency and consistency of internal audits across the departmental and organizational levels. TeamMate+ allows audito...Read more about TeamMate+ Audit
SpiraPlan provides a complete Enterprise Program & Portfolio Management System in one package, that can manage your project's requirements, releases, risks, resources, documents, baselines, tasks, and defects/issues in one environ...Read more about SpiraPlan
GOAT Risk. The pain free way to manage risk - so you can get on with managing your business. GOAT Risk is a simple, flexible, low cost risk management software solution packed with all the tools you need to manage risk effectivel...Read more about GOAT Risk
Nlyte Data Center Infrastructure Management (DCIM) is designed to help businesses plan, manage and automate the entire infrastructure lifecycle including data centers and hybrid-cloud resources. It enables administrators to foreca...Read more about Nlyte DCIM
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
ZEBSOFT is a cloud-based governance, risk management, and compliance (GRC) solution designed to help businesses streamline processes related to auditing, equipment maintenance, version control, team communication and more. Enterpr...Read more about ZEBSOFT
iDenfy is a cloud-based identity verification solution. Enhance your business operations with leading-edge ID verification by iDenfy. It comes with identity verification, fraud prevention, and a compliance platform best known for...Read more about iDenfy
Accountable is a cloud-based compliance and risk management software designed for healthcare practices of all sizes. It helps users manage HIPAA compliance, policies and procedures, HIPAA training, risk assessment and business ass...Read more about Accountable
Intellect provides a flexible enterprise Quality Management Software (eQMS) solution and platform designed to meet any FDA and ISO compliance requirements, as well as digital transformation goals. Built on the Intellect Compliance...Read more about Intellect QMS
CTM360 is a digital risk protection platform that detects, manages, and responds to threats and vulnerabilities across the Surface, Deep & Dark web. Subscribers of the CTM360 platform get access to external attack surface manageme...Read more about CTM360
KYC PORTAL is a fully configurable Client Lifecycle Management solution that provides a single, centralized, secure repository with fully customizable parameters, fields, rules, and user rights. The platform ensures that all data ...Read more about KYC Portal
3E Protect is a health and safety management solution that helps businesses across healthcare, pharmaceutical, petrochemical and other industries manage associated safety data sheets (SDS) to reduce incidents across departments. T...Read more about 3E Protect
Hyperproof is an on-premise and cloud-based compliance management solution that helps businesses conduct audits, assess risks and handle compliance programs. It comes with an administrative dashboard, which enables professionals t...Read more about Hyperproof
GoAudits is an all-in-one inspection platform that helps retail chains, telecommunication companies, food manufacturers, construction companies conduct standard, quality, and safety audits. Businesses can easily plan and schedule ...Read more about GoAudits
eTHIC is a software that helps businesses manage their ethics and compliance. It provides an easy-to-use platform for managing all of your company's compliance requirements, including government regulations, industry standards, an...Read more about eTHIC
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
Application AI is a fraud prevention and risk management solution, powered by artificial intelligence (AI), that helps financial services organizations detect potential fraud scenarios in real-time by analyzing the data provided b...Read more about Application AI
Fraud.net is a cloud-based risk management platform that offers a suite of fraud prevention tools. This solution uses AI/machine learning, real-time analytics, data mining, identity proofing, rules management, and other technology...Read more about Fraud.net
BizAway is a travel booking solution to handle business travel and optimize resources using a simple yet very intuitive interface, retaining all billing and expenses under control, with incorporable travel policies and automated a...Read more about BizAway
MasterControl Quality Excellence
MasterControl Quality Excellence
MasterControl Quality Excellence (a QMS Software Solution) is an integrated quality management system that eliminates the need to paper-based quality processes. It helps life-science companies adhere more efficiently to the ever-c...Read more about MasterControl Quality Excellence
Buyers GuideLast Updated: March 16, 2023
What is Risk Management software?
Risk management software is a set of tools that help companies prevent or manage critical risks that all businesses face, including finance, legal, and regulatory compliance and strategic and operational risks.
Risk management software can help organize and track your risks, so you can prioritize tasks needed to manage and/or overcome the various risks you face. But what type of risk management software do you need? We're here to help you figure that out.
Here's what we'll cover:
Common Features of Risk Management Solutions
Benefits of Adopting Risk Management Software
Risk Management Tools Buying Tips for New Buyers
Common Features of Risk Management Solutions
Even the simplest risk management software tools include numerous components.
Core Features of Risk Management Software
Identifies and records risks your business faces. Defines the risks for a repository or allows you to choose from a pre-established risk dictionary.
Assigns simple ratings to risks or enables you to develop detailed classifications based on multiple factors defined by individual business units.
Monitoring and testing
Defines key risk indicators (KRIs) and records the effectiveness of risk management processes.
Monitors risks and solutions with easy-to-understand visual reporting and dashboards.
Ensures your risk management processes meet all necessary regulatory compliance by defining and tracking processes and required compliances.
Manages the execution of key risk-based projects. Ensures critical risk management issues are identified and accounted for.
Allows you to collaborate and share documents and reports in real time. Houses a knowledge base for new and curious employees.
Risk management solutions support businesses throughout the risk life cycle, from identification to assessment and on to monitoring and potentially eradication. The first line of defense is risk identification and assessment. It's here that you'll identify the risks facing your business. This could be as simple as inputting regulations and compliances, or it might take some digging and thinking to determine what your pressing risks are—which leads into the next step: assessment.
Once you have identified risks, it's time to assess their potential impact and prioritize them accordingly. Assessment can mean assigning your risks a simple rating within a given scale of severity (e.g., 1 - 5, with 1 being a low risk and 5 being a high risk). More detailed assessments can provide a risk score that takes many variables into account. Regardless of the complexity of the assessment, completing this step enables you to use your risk management tools to monitor risks and test your ability to manage and work through them.
Issue management is a key feature used in day-to-day operations surrounding risk testing and other related projects. Key capabilities within issue management include task assignment, workflow monitoring and automatic notifications and reminders for deadlines and communications.
Benefits of Using Risk Management Software
A properly utilized risk management system will enable you to operate more efficiently. The awareness that comes with proactively and systematically monitoring critical risks will help you overcome any potential setbacks or downtime in your business.
Specific benefits of adopting risk management tools include:
Creating a proactive, risk-aware culture. Systematically identifying and addressing risks will lead to a risk-aware business culture that operates more strategically.
Staying organized throughout risk life cycle. Inputing newly identified risks into the system allows you to monitor them constantly throughout their life cycle.
Assigning accurate risk scores for easy prioritization. You can assess and assign scores to each identified risk based on numerous variables for easier prioritization.
Improving workflows for monitoring and working through risks. Leverage issue management and task tracking to easily assign responsibility for each stage of risk monitoring.
Leveraging risk reporting, analytics and metrics. Monitor the status of each risk and its progression toward escalation or eradication and see the real business impact that risk management has on your organization.
Risk Management Tool Buying Tips for New Buyers
Risk management systems have many benefits to offer your business, but that doesn't mean all risk tools are right for you. Choosing the risk software that's going to drive your business to greater success is no easy feat. There are a ton of risk management software vendors itching to get your business, so move carefully when navigating the vendor landscape.
The following recommendations will help you stay the course and choose the best risk management solution for your business. They come from a cross-industry software buyer survey we conducted to determine effective tactics for choosing the best software for your unique business. The most recommended tactics from the survey are:
Do your due diligence researching risk management offerings. If you're new to risk management or risk management software tools, read up on what's available in the market. Talk to peers in the space who are using risk software to get their take on the system they currently use.
Identify where, why and how your current risk management practices fail. When you do eventually start reaching out to vendors and setting up demos, you'll need to identify key areas of improvement that software can help with. Don't just look for the system with the most or "coolest-looking" features—look for the one that's best equipped to help your business' top pain points.
Read all the risk management software reviews you can get your hands on. As simple as it sounds, reading user reviews from your peers in the risk management space can provide a wealth of info into how individual systems work. Whereas vendors tend to try and overwhelm you with marketing jargon, reviews cut straight through to give you a clear picture of the software's pros and cons.