Price risk management software

Nintex Promapp vs Splunk Enterprise. RLDatix vs ServiceChannel. Learn about the key aspects of accurate software pricing before you make your purchase decision. Unexpected costs. Pricing of popular systems. 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. But what type of risk management software do you need?

We're here to help you figure that out. 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. 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. 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.

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:.

Software Advice uses reviews from real software users to highlight the top-rated Risk Management Software products in North America. Get Advice. More risk management solutions. Other Software. Sort by:. Onspring Onspring is a cloud-based, no-code software for reporting, analysis, process management, and coordination. Price Watch Demo Learn More. Price Demo Learn More.

Redlist Redlist helps companies make maintenance management work easier and more productive. LogicGate LogicGate is a cloud-based SaaS solution that helps organizations automate their risk and compliance programs.

Lockpath Lockpath brings visibility to risks frequently managed in disparate sources. Sofvie Sofvie is a web-based collaborative intelligence platform designed to enhance communication and risk management in the workplace.

StandardFusion Standard Fusion is a cloud-based compliance management solution that is designed for industries such as healthcare, technology, manufacturing, government and retail.

Malwarebytes Endpoint Protection MalwareBytes Endpoint Security is designed to provide businesses with layered threat defense, including "zero hour" exploit protection. Okta Okta Identity Suite is a cloud-based identity management solution that caters to businesses across various industries such as information technology IT , consumer services, energy and utilities, telecommunications and more.

BuildingConnected BuildingConnected provides the largest crowd-sourced network in commercial construction, empowering builders to save time and increase accuracy while managing bids. Netwrix Auditor Netwrix Auditor is a security solution that helps organizations overcome compliance and operational challenges. Nintex Promapp Nintex is a workflow management solution that caters to a variety of industries including energy, health and life sciences, financial services and government.

Splunk Enterprise The Splunk Enterprise platform allows users to process and index most forms of data in their native format. RationalPlan RationalPlan is a project management solution that helps small and midsize businesses plan projects, allocate resources, analyze workloads, track work progress, estimate project costs and manage budgets.

View all products. Popular Comparisons. ThreatMark enables banks to secure trusted banking experiences with legitimate users, seamlessly across all digital channels. Learn more about ThreatMark. ThreatMark brings trust to the digital world by providing cutting-edge fraud prevention solutions. Major banks use ThreatMark's AI-powered technology to build secured banking experience by Read more precisely validating their legitimate users, seamlessly across all digital channels.

All while securing the users' most precious assets and keeping the fraudsters away. Defendocs 0. GDPR compliance solution that helps small and midsize businesses protect data and store documents in a centralized repository.

Learn more about Defendocs. Defendocs mission is to take the stress out of your GDPR project: stay Read more compliant and cut costs with Defendocs flexible and easy-to-use tools and software. Your go-to solution for risk related audits, inspections and checks. Learn more about audits. Conduct audits and inspections on the go with your mobile or tablet and continue the work on a computer if you Read more feel so. Attach images and other files, assign corrective actions and notify responsible people, share the automated PDF-reports to stakeholders, and analyse bottlenecks and trends from the real time statistics.

Digitalise Risk Management in your organisation today! Read more business with ease. All standards covered. IntegrityNext 4. Learn more about IntegrityNext. The IntegrityNext platform automatically obtains Read more the required supplier self-assessments and certificates while monitoring social media for malpractice and reputational risks. Fluix 4. Save time and manage risk by switching from paper-based processes to digital ones. Learn more about Fluix. Provide your field team an inspection solution that they can learn fast, while you can manage operations from wherever you are instantly, as well as analyze data collected.

Fluix is used to conduct Read more safety, quality control, and operations inspections across different industries construction, utilities, transportation, facility management, etc. Local product GoAudits 4. Learn more about GoAudits. Plan and schedule inspections, conduct fast mobile audits on your favorite device even offline , immediately assign corrective Read more tasks.

After an inspection, instantly generate insightful reports and automatically email them to the right people for real-time information. With our advanced analytics dashboard, gain unprecedented insights into your operations and maximize your ROI. Simple and affordable solution for professionals. GetSecured 0. Learn more about GetSecured. This tool can be easily understood by a non-technical person Read more also.

We have a super cool dashboard in which you can view all your previous scan details like from which country the asset is located and many more. Malwarebytes Endpoint Protection 4. Complete threat protection and remediation solution, centrally managed from the cloud for organizations of all sizes. Learn more about Malwarebytes Endpoint Protection. Malwarebytes Endpoint Protection provides complete malware protection and remediation with precise threat detection, proactive threat blocking, and thorough remediation, driven from the cloud and Read more easy to use for organizations of all sizes.

Nintex Promapp 4. Nintex Promapp provides an intuitive online, process mapping tool, that supports the development of more efficient ways to work. Learn more about Nintex Promapp. With the risk and compliance add-on that Read more supports ISO compliance, regular and required audits are no longer a point of stress for teams. Nintex Promapp provides an intuitive online, process mapping tool, that supports the development of smarter and more efficient ways to work. Cority 4.

Learn more about Cority. Our team of EHS professionals have collaborated with experts from Read more client companies to deliver market-leading risk assessment software.

This robust solution will enable you to plan and build an effective risk assessment program and perform ongoing analysis to continuously evaluate and mitigate risk. HighBond 4. Integrated risk management software that identifies, assesses, responds to, and monitors your enterprise risks.

Learn more about HighBond. The software also reduces subjectivity by seamlessly integratin Read more g risk indicators into the assessment process. Plus it helps distributed teams identify risks and aggregate risk assessments through remote workshops. As a result, risk management spends less time on process administration and more time effecting change. QT9 QMS 4. Risk Management Software made easy. Risk Management Software Made Easy.

Start Your Day Trial Free. Risk Management Software Buyers Guide. Table of Contents What is risk management software? What are the benefits of risk management software? What are the features of risk management software? What should be considered when purchasing risk management software? What are the most relevant risk management software trends?

When using a risk management platform, these core features will generally allow a business to: Identify risks, classify them, and assign a score, rating, or indication of how serious the threat is Assess internal processes and ensure compliance with rules, regulations, and legislation Define key risk indicators KRIs and set alerts for when specific breaches or failures transpire Create reports on compliance, the status of risks, and incidents that occur internally What is risk management software?

Some of the biggest advantages of the software allow a business to: Identify risks and address them swiftly: arguably, the single biggest advantage associated with the use of risk management software is linked to the ability it provides businesses and their leaders to identify risks, define them, and ensure they are addressed as swiftly as possible. Within many applications, risks can be pinpointed, explained, given an overall score based on the level of threat provided, and categorised so that the nature of the risk is understood.

The relationship between different threats can also be explored. Ultimately, the key benefit of this is the ability to respond to risks in a more efficient and tailored way.

Prioritise the risks that pose the greatest threat: it is important to acknowledge that not all risks pose the same level of threat and that some issues will cause more harm than others.

This, in turn, means that some risks need to be given a higher level of priority. Not only does this allow actions to be taken to prevent problems from manifesting, but it also means that if problems do arise, resources can be appropriately allocated so that the most critical threats are dealt with first.

Risk management software provides users with a crucial ability to score risks and threats so that they are not all treated equally and so that all of the key stakeholders know what the priorities are. Create processes for risk response: once organisations identify and understand the various risks they face, they must also develop processes for responding to each risk. However, this does not only mean defining the actions that will be taken. It also means establishing which stakeholders will be involved in any response and why.

Internally, employees need to know which risks they are responsible for managing and what is expected of them. Develop a culture of risk awareness: as previously stated, one of the broadest ways that risk management software can be used to benefit organisations and their employees is by allowing for the development of a culture that emphasises an awareness of risks. Many of the biggest challenges businesses face manifest from problems that they overlook or fail to identify.

When using risk management software, employees can think more carefully about what may happen, what the consequences could be, and what might be done to avoid those consequences. This then reduces unforeseen threats and allows businesses to become better prepared generally. Establish an overall risk register: risk management software allows for individual risks to be identified and scored, and this also contributes to another significant advantage, which is sometimes overlooked.

When an organisation has a clear sense of the number of risks or threats they face, and scores have been allocated to each of those risks, it can start to build a more comprehensive picture of the overall level of risk posed to the organisation. Establishing a risk register can then make it easier to see the big picture and devise a wider risk strategy.

Promote greater levels of compliance: finally, the use of risk management software can help to promote greater levels of compliance within organisations, and this can be achieved by establishing clear rules and outlining precisely why compliance is so important. Companies that understand the risks that exist and take appropriate action to avoid or mitigate those risks are also much more likely to be operating in compliance with existing legislation and industry regulations.

However, when new rules emerge, action needs to be taken to adjust processes accordingly, and risk management software can help companies to achieve swift transformations. The main features to look out for are: Risk assessment: carry out an assessment of the different risks that exist within a business and assign a score or rating to each of these risks. The purpose of the risk assessment feature contained within risk management software is to allow organisations to understand the different threats they face and understand how serious those threats are and how much attention or focus should be given to them.

The allocation of a score or risk rating also allows different risks to be directly compared to one another and categorised more easily.

Some software solutions are more specialised, meaning they focus on a specific area of risk management, such as financial risk assessment, IT risk assessment, legal risk assessment, or operational risk assessment. These solutions may include some added features and functions that are relevant to that particular risk management discipline. Risk reporting: create risk reports, which include information about current and emerging risks as well as details on how the organisation is currently managing those risks.

Ultimately, a risk report should be able to inform business leaders and other key stakeholders of which policies and controls are working well, which are failing, which show promise, and which need to be altered. Another significant part of risk reporting involves identifying key risk indicators KRIs and using these KRIs to measure how risky a particular activity is. Therefore, using risk management software to create reports of this kind can predict difficult or damaging events before they occur.

Auditing and compliance management: conduct audits, keep compliance information up-to-date, and take action to resolve areas where the business is not operating in full compliance with rules, regulations, or legislation. The ability to carry out audits and manage compliance is absolutely critical, especially at times when new legislation emerges.

A good example of this can be seen with the General Data Protection Regulation GDPR , which brought about new requirements for businesses to handle the personal data of EU citizens with care and transparency to keep that data safe and secure. Yet, one year after it was introduced, 30 per cent of European businesses said they lacked confidence that they were fully compliant.

Risk management software can help avoid similar problems because it can be used to make sure any compliance issues are flagged and resolved in a timely fashion.

As a result, businesses can avoid fines, lawsuits, and numerous other penalties that may exist. Dashboard: oversee risk management performance using a live dashboard, which provides real-time information. The best risk analysis software solutions will make use of the KRIs outlined by an organisation and use these to present valuable information on an interactive display.

This will then allow employees who are involved in areas like risk management and compliance to see where action needs to be taken and where new risks are emerging. Generally, the alerts or notifications system within risk management software can be set up to work in combination with both chosen key risk indicators and any compliance information input into the system. This allows notification of when a breach occurs, when a risk becomes critical, or when new legislation or compliance requirements actually come into effect.

This all helps to ensure that action is taken at the best possible time—by employees in the right department—in order to minimise disruption or damage. A good way to explore the various key considerations is to take the time to ask the following questions: What is the cost of risk management software?

When exploring any new software solution, careful thought must be given to how much it costs and how much is available to spend. On a basic level, try to find the best solution that is realistically affordable, but think about the issue of cost holistically too.

The cost of purchase and installation or setup is only one aspect here. Also, think about how much software will cost to continuously run, how much will be needed to invest in staff training, and whether there will be costs linked to accessing technical support or upgrading software as new versions are released.

If choosing to adopt a Software as a Service SaaS option, consider the ongoing subscription fees and what costs may be linked to ending that subscription. How can risk management software be deployed? There are two main options for software deployment in the modern age. The first is on-premises deployment, where software is purchased, set up and managed on-site, with full ownership and control. The second is the cloud-based approach, often delivered on a Software as a Service SaaS basis, where a third-party service provider will manage the software, its updates, and data storage while providing remote access.

Both models have their pros and cons, with the former offering a greater sense of control, while the latter provides more predictable costs and greater flexibility.

The main things to consider here are not only these advantages and disadvantages themselves, but how they apply to the business. What are your specific expectations? Next, be clear on what is actually required from the risk management software and which features matter the most.

Having a clear sense of purpose makes it a lot easier to carry out a worthwhile enterprise risk management software comparison. Not all features included in software options may be relevant, and even if these features are implemented superbly, they should not form a significant part of a decision-making process. Think about what is actually needed and use that information as the basis for comparing and contrasting the different options in the Capterra software directory.

Are there mobile risk management options? A growing number of businesses operate with employees either working remotely or working while in the field, and these workers may still require access to risk management software and its features. With this in mind, if this applies to the organisation, give consideration to the mobile accessibility on offer.

In some cases, this may come in the form of a dedicated mobile app, while in others, it may be delivered through access to cloud-based software via a mobile web browser. Do you require an industry-specific solution? Finally, if the business operates in an industry like finance or information technology, it may be worth exploring some of the risk management software solutions that are specifically aimed towards the industry.

These solutions will be designed with an awareness of the most common industry-specific risks in mind, helping to reduce the overall workload for staff. With this in mind, some of the most important trends are outlined below: Improvements to artificial intelligence AI : Improvements to the quality and accuracy of artificial intelligence and machine learning have had an influence on a large number of software categories, and risk management software is no different.

Within these applications, AI can anticipate risks before they manifest, carry out certain automated actions to limit the threat, learn from previous solutions to problems, and self-manage areas related to compliance and risk defence. All of this means that risk management can become more efficient, and actions can be carried out in the ideal moment, even if no employee is available to perform the action themselves. With this in mind, it is worth thinking about the AI capabilities of the chosen software solution.

Increased popularity of cloud technology: As a whole, businesses are becoming more aware of the potential advantages of utilising cloud technology, especially in terms of keeping important data secure, recoverable, and continually backed up. Beyond this, cloud-based software solutions can allow businesses to downsize premises because less on-site storage is required, and fewer on-site IT professionals may be needed.

The accessibility of cloud-based options is another major benefit, with employees having the ability to access software remotely, from anywhere in the world, using any compatible internet-enabled device. As businesses increasingly shift more of their IT infrastructure to the cloud, it is worth thinking about whether cloud-based options may provide a more future-proof solution to risk management software needs.

The changing nature of modern work: Advancements in internet speeds, communications technology, and cloud computing have all contributed to wider changes to the very nature of modern work and these changes were accelerated by COVID Indeed, Capterra research shows that 70 per cent of SMEs worldwide adapted their offerings during the pandemic so they could be delivered virtually, while 67 per cent of remote workers stated that they enjoyed having the ability to work from home.

With greater expectations for remote or hybrid working models, businesses need to respond, and this means investing in solutions that are purpose-built with remote and hybrid work in mind.

For risk management software, if remote employees are going to require access, it makes sense to focus on options that offer cloud-based deployment or which can be configured to allow for off-site access. The internet of things IoT within business: The internet of things IoT refers to the inclusion of internet capabilities within everyday devices, turning them into 'smart' devices that are able to communicate with one another.

Increasingly, the concept of IoT technology is entering the workplace , and it is worth contemplating if some of these smart devices could assist with the automated detection of risks. If so, seek out software solutions that are compatible with those smart devices. For free software advice, call us now! Showing 1 - 20 of products. Onspring is a cloud-based, no-code software for reporting, analysis, process management, and coordination.

Read more. Recent recommendations: 2 recommendations. EHS Insight. It helps clients track environmental effects, manages security and risks and ensures compliance with requirements. EHS Insight of VelocityEHS is a cloud-based environment, health, safety EHS and sustainability solution designed to improve visibility and manage risk across organizations.

VelocityEHS modules include incident management, audit and inspec Recent recommendations: 1 recommendations. LogicGate is a cloud-based SaaS solution that helps organizations automate their risk and compliance programs. Instead of depending on spreadsheets and email to handle the most critical risk and compliance activities, LogicGate ce Lockpath brings visibility to risks frequently managed in disparate sources. It aggregates internal data points from all corners of the organization, as well as from assessments, audits, authoritative sources and external systems 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 Okta Identity Suite is a cloud-based identity management solution that caters to businesses across various industries such as information technology IT , consumer services, energy and utilities, telecommunications and more. Key f The solution is designed for a wide range of industries 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 Nintex Promapp. Nintex is a workflow management solution that caters to a variety of industries including energy, health and life sciences, financial services and government.

It is suitable for departments such as customer services, human resourc ProcessGene is a cloud-based governance, risk and compliance GRC platform that helps multi-subsidiary organizations automate workflows and reduce costs and man hours in implementing GRC programs. Features include risk audits, da ServiceChannel is an integrated suite that helps manage facilities tasks: from finding a contractor to overseeing work orders to closing the project with transaction processing 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 Cority offers a cloud-based, enterprise quality management and compliance software solution for midsize to large global manufacturers. It is suitable for manufacturers that operate in industries such as automotive, aerospace and d With the RiskBond application, organizations can access integrated risk m Conga Contracts. Donesafe supports all industry types and organizations large and small. QT9 QMS. The software is available for deployment either on-premise or in the cloud.

The tool eliminates the need f Q-Pulse is a governance, risk and compliance GRC solution for the manufacturing, health care and airline industries.

The solution enables organizations to manage their processes and take preventive action. Q-Pulse provides on-pr