Enterprise Risk Management (ERM) tools help organizations identify, assess, manage, and monitor risks across their operations.
These tools provide a structured framework for integrating risk management into strategic planning, ensuring that potential threats and opportunities are systematically addressed.
By offering features such as risk assessment templates, real-time reporting, and compliance tracking, ERM tools enable organizations to mitigate risks and make informed decisions proactively.
Additionally, they facilitate communication and collaboration across departments, promoting a culture of cyber risk awareness and enhancing overall organizational resilience.
Here Are Our Picks For Best Enterprise Risk Management Tools:
- RSA Archer: Comprehensive risk management with flexible, integrated modules.
- MetricStream: Robust platform for enterprise-wide risk and compliance management.
- LogicManager: Streamlined risk assessment and mitigation with intuitive dashboards.
- SAP GRC (Governance, Risk, and Compliance): Integrated risk management with advanced analytics.
- Riskonnect: Unified risk management with real-time data and insights.
- IBM OpenPages: AI-driven risk and compliance management for large enterprises.
- Resolver: End-to-end risk management with automated workflows.
- Wrike: Project management with integrated risk tracking and reporting.
- StandardFusion: Cloud-based risk management with compliance tracking.
- Qualys: Continuous risk assessment and security compliance.
- Netwrix: Risk-based IT auditing and compliance solution.
- Riskalyze: Financial risk assessment and portfolio analysis tool.
- ServiceNow: Integrated risk management with real-time analytics and reporting.
- HighBond: Comprehensive GRC platform for risk, compliance, and audit management.
- SAI360: Enterprise-wide risk and compliance management with customizable workflows.
Enterprise Risk Management Tools Features:
| Enterprise risk management tools | Features | Stand Alone Feature | Pricing | Free Trial / Demo |
|---|---|---|---|---|
| 1.RSA Archer | Comprehensive risk management framework Policy and compliance management Incident management integration Real-time risk reporting Customizable risk assessment templates |
Comprehensive risk management platform | Contact for pricing | No |
| 2. MetricStream | Integrated risk management solutions Automated risk assessment workflows Compliance tracking and reporting Advanced risk analytics Scalable for enterprise needs |
Integrated risk and compliance management | Contact for pricing | No |
| 3. LogicManager | Centralized risk management platform Incident and event management Risk and compliance dashboards Automated risk mitigation plans Intuitive user interface |
Risk management and compliance software | Contact for pricing | Yes |
| 4. SAP GRC (Governance, Risk, and Compliance) | Holistic GRC management Real-time risk monitoring Automated compliance management Risk and audit integration Advanced reporting capabilities |
Unified risk management solutions | Contact for pricing | No |
| 5. Riskonnect | Comprehensive risk and compliance management Incident and claims tracking Advanced analytics and reporting Integrated risk assessments User-friendly interface |
Cloud-based risk management platform | Contact for pricing | No |
| 6. IBM OpenPages | Enterprise GRC platform Advanced risk analytics Automated compliance workflows Scalable risk management solutions Real-time risk monitoring |
Scalable risk and compliance management | Contact for pricing | No |
| 7. Resolver | Integrated risk management solutions Incident and issue tracking Risk assessment and reporting Compliance management tools User-friendly interface |
Incident and risk management solutions | Contact for pricing | Yes |
| 8. Wrike | Project and risk management Real-time collaboration features Customizable risk tracking Integrated reporting tools Scalable for enterprise use |
Project and risk management integration | Starts at $9.80/month | Yes |
| 9. StandardFusion | Centralized GRC management Automated risk assessments Compliance tracking and reporting Real-time risk monitoring User-friendly dashboard |
GRC and risk management software | Contact for pricing | Yes |
| 10. Qualys | Cloud-based risk management Automated vulnerability assessments Real-time threat detection Comprehensive compliance tools Scalable for enterprise needs |
Continuous security and compliance monitoring | Starts at $1,995/year | Yes |
| 11. Netwrix | IT risk management Real-time monitoring and alerts Automated compliance reporting Risk assessment and mitigation Scalable for various industries |
Data security and risk management | Contact for pricing | Yes |
| 12. Riskalyze | Financial risk management Real-time risk analytics Automated risk assessments Compliance tracking tools User-friendly interface |
Investment risk alignment tool | Contact for pricing | No |
| 13. ServiceNow | Integrated GRC platform Automated risk workflows Real-time risk reporting Compliance management tools Scalable enterprise solutions |
Integrated risk management workflows | Contact for pricing | Yes |
| 14. HighBond | Comprehensive GRC management Real-time risk monitoring Automated compliance workflows Advanced analytics and reporting Scalable for enterprise use |
Automated risk and compliance management | Contact for pricing | No |
| 15. SAI360 | Integrated risk management Real-time compliance tracking Automated risk assessments Incident management tools Scalable for enterprise needs |
Comprehensive compliance and risk management | Contact for pricing | No |
1. RSA Archer
Year: 2001
Location: Bedford, Massachusetts
Enterprise risk management (ERM) software like RSA Archer lets companies identify, assess, and eradicate threats across many operational domains. RSA Archer is reliable for risk, compliance, and governance.
This comprehensive platform uses cutting-edge technology, robust functionality, and an easy-to-use interface to help organizations make informed decisions, improve operational efficiency, and ensure regulatory compliance.
The enterprise-wide risk management solution RSA Archer helps firms find and assess threats, implement effective risk mitigation programs after identifying and assessing dangers, and comply with internal and external policies.
RSA Archer facilitates risk, event, and issue management. Ad hoc reporting, trend analysis, and executive summaries help users make decisions and track risk mitigation initiatives.
Why Do We Recommend It?
- Identify, assess, and prioritize risks across the organization.
- Track and manage compliance with various regulations, standards, and laws.
- Capture and track incidents, breaches, and security events.
- Execute audits, manage work papers, and track findings.
| What is Good? | What Could Be Better? |
|---|---|
| Integrates governance, risk, and compliance functions into one platform. | Can be difficult for users and administrators to learn. |
| Highly configurable for organizational needs. | Setting up and customizing might be expensive. |
| Improves efficiency by automating operations. | |
| Protects sensitive data with high security. |
RSA Archer – Trial / Demo
2. MetricStream
Year: 1999
Location: San Jose, California
MetricStream unifies risk identification, assessment, and mitigation throughout an organization’s operations.
MetricStream helps businesses improve risk management, operational efficiency, and regulatory compliance with cutting-edge risk identification, mitigation, compliance management, incident and issue management, and reporting and analytics tools.
MetricStream helps businesses protect their brand and achieve long-term goals by proactively managing risks, building resilience, and making informed decisions. The tool’s workflows and templates can be customized to identify and assess risks.
Users can set control objectives, assign responsibilities, and monitor control effectiveness using real-time dashboards and reports. MetricStream tracks regulatory changes, automates compliance assessments, and coordinates corrective measures.
MetricStream helps businesses improve incident management and minimize recurrence by identifying root causes, tracking corrective actions, and producing meaningful results. MetricStream’s powerful reporting and analytics engine helps firms assess risk.
Why Do We Recommend It?
- Manage the creation, approval, distribution, and enforcement of policies.
- Manage compliance with regulations, standards, and laws.
- Audit, organize work papers, and report findings.
- Orchestration: Streamline and optimize complex business workflows.
| What is Good? | What Could Be Better? |
|---|---|
| Provides comprehensive reporting and analytics for data-driven decision-making. | MetricStream setup and implementation may delay platform benefits. |
| Promotes efficient incident and issue resolution. | MetricStream’s robust features require time and training to master. |
| Helps create, distribute, and track policies and procedures. | |
MetricStream – Trial / Demo
3. LogicManager
Year: 2005
Location: Boston, MA.
A comprehensive enterprise risk management (ERM) platform, LogicManager helps firms detect, analyse, and reduce risks throughout their business activities.
LogicManager’s comprehensive features, cutting-edge technology, and user-friendly interface make it a trusted solution provider. This complete platform improves risk management, streamlines compliance, and helps firms reach strategic goals with data-driven decisions.
Users can set risk appetite and tolerance, allocate ownership, and create risk mitigation plans. Continuous risk mitigation is achieved by automating control testing, issue tracking, and remedy management with LogicManager.
LogicManager automates compliance evaluations, regulatory changes, and remediation. The tool allows enterprises to capture, track, and investigate incidents and issues. It also offers customizable dashboards, real-time data visualization, and comprehensive reporting.
Why Do We Recommend It?
- Track and manage compliance with various regulations, standards, and laws.
- Capture and track incidents, breaches, and security events.
- Execute audits, manage work papers, and track findings.
- Capture, manage, and track issues that impact business operations.
| What is Good? | What Could Be Better? |
|---|---|
| Security features protect sensitive data and restrict user access. | Setting up and implementing LogicManager can delay the platform’s full benefits. |
| Assesses and manages vendor and supplier risks. | IT and GRC specialists are needed to manage and run LogicManager. |
| Accesses and manages data remotely. | |
| Supports continuous improvement through data analysis. |
LogicManager – Trial / Demo
4. SAP GRC (Governance, Risk, and Compliance)
Year: 2002
Location :
SAP AG, a renowned corporate software company, developed SAP GRC, an enterprise risk management tool that helps companies streamline governance, risk, and compliance operations.
It centralizes user roles and responsibilities and ensures access rights comply with organizational policies and compliance standards. It helps design, document, test, and monitor essential business processes to meet internal and regulatory standards. Systematic risk identification, analysis, and response planning are used.
SAP GRC Audit Management simplifies audit preparation, execution, reporting, and remediation. SAP GRC integrates with ERP, CRM, and BW.
This integration may extract data for risk analysis, real-time monitoring, and cooperation between risk, compliance, and business teams.
Why Do We Recommend It?
- Identify and prevent conflicts of interest by analyzing user access for potential segregation of duties violations.
- Implement controls, action plans, and monitoring to mitigate identified risks.
- Generate compliance reports, track audit findings, and communicate with stakeholders.
- Use advanced analytics and anomaly detection to detect patterns indicative of fraud.
| What is Good? | What Could Be Better? |
|---|---|
| SAP GRC is customizable to meet an organization’s GRC needs. | SAP GRC licensing, implementation, and maintenance costs are high. |
| The package streamlines GRC operations and reduces manual labor. | SAP GRC requires dedicated IT staff and GRC experts. |
| SAP GRC enhances risk assessment, mitigation, and decision-making. | |
| Organizations can gain GRC insights from the suite’s robust reporting and analytics. |
SAP GRC (Governance, Risk, and Compliance) – Trial / Demo
5. Riskonnect
Year: 2007
Location: Atlanta, GA, USA
Riskonnect is a comprehensive enterprise risk management technology that helps companies identify, assess, reduce, and monitor risks. Riskonnect’s risk management service tracks risk trends, treatment plans, reports, and dashboards.
Incident Management also identifies trends, investigates root causes, and implements preventative measures. Policy and compliance help implement controls and document compliance evidence.
Riskonnect’s vendor and third-party risk management help firms identify and manage external partner risks. It provides qualitative and quantitative risk assessments and a risk score for prioritization. It also lets companies allocate, schedule, and track tasks.
Riskonnect consolidates a company’s data sources and processes for risk analysis and reporting. Riskonnect streamlines regulatory, internal, and control effectiveness tracking with its policy and compliance component.
Riskonnect’s scalable design meets enterprises’ rising data and user needs.
Why Do We Recommend It?
- Develop and implement risk mitigation strategies.
- Create, distribute, and enforce policies and procedures.
- Define and manage user roles and permissions to ensure segregation of duties.
- Monitor critical business processes for compliance and efficiency.
| What is Good? | What Could Be Better ? |
|---|---|
| Aids audit preparation, execution, and reporting. | Riskonnect setup and implementation may delay platform benefits. |
| Ensures organizations meet regulatory criteria. | Riskonnect updates, support, and enhancements may limit flexibility for organizations. |
| Helps plan business continuity and disaster recovery. | |
Riskonnect – Trial / Demo
6. IBM OpenPages
Year : 1990
Location : Waltham , United States
IBM OpenPages is one of the most comprehensive enterprise risk management (ERM) technologies. The platform’s integrated perspective allows businesses to manage risk better and strengthen their risk posture.
OpenPages offers risk registers, assessments, and scenario planning to help identify and assess risks. It also assists organizations with risk management, monitoring, and reporting. Risk dashboards, heat maps, and trend analysis help businesses of all sizes manage risk with OpenPages.
OpenPages is an effective ERM solution for risk management and decision-making. Flexible and easy to use, the platform suits enterprises of all sizes. OpenPages helps businesses create and implement risk management plans to decrease risk and improve posture.
Nations need risk management programs to reduce hazards and build resilience.
Why Do We Recommend It?
- Continuously monitor risks and track mitigation efforts.
- Design internal controls and assess their effectiveness.
- Generate audit reports and insights for audit findings and recommendations.
- Identify critical processes and assets for business continuity.
| What is Good? | What Could Be Better? |
|---|---|
| Organizations can customize the platform to their business processes and needs. | IBM’s expertise and support help IBM OpenPages. |
| IBM’s expertise and support help IBM OpenPages. | IBM updates, support, and enhancements may limit flexibility. |
| Storage and version control for documents. | |
IBM OpenPages – Trial / Demo
7. Resolver
Year: 2000
Location: Toronto, Ontario
.Cloud-based enterprise risk management (ERM) software Resolver lets companies identify, assess, and manage hazards. We offer detection, evaluation, treatment, and reporting for Enterprise Risk Management (ERM).
Resolver is user-friendly and customizable for every business. Its scalability makes it suitable for all sizes of enterprises. Resolver finds and evaluates internal and external threats to a firm and offers risk controls, registers, and maps.
Resolver delivers detailed risk management reports to help organizations measure progress and make educated decisions. Resolver consolidates all hazards, assisting organizations to comprehend how they affect each other and the firm.
Resolver lets businesses detect, rate, reduce, and report threats to improve risk management.
Why Do We Recommend It?
- Identify and assess risks across the organization.
- Track and manage compliance with various regulations, standards, and laws.
- Capture and track incidents, breaches, and security events.
- Assess and manage risks associated with third-party vendors.
- Develop and execute plans to address and resolve identified issues.
| What is Good? | What Could Be Better? |
|---|---|
| Companies can customize the platform to fit their needs. | Resolver licensing, implementation, and support can be costly. |
| Resolver centralizes GRC data storage, tracking, and reporting. | Resolver management requires IT and GRC experts. |
| Data analysis supports continuous improvement. |
Resolver – Trial / Demo
8.StandardFusion
Year: 2014
Location: Vancouver, BC, Canada
StandardFusion, an enterprise risk management tool, helps firms standardize and improve risk management. It helps firms quickly and confidently discover, assess, and mitigate hazards with practical risk management tools.
StandardFusion helps analyze risk, manage compliance, handle events, and organize rules and procedures. Recognizing and assessing risks helps a corporation comply with regulations, handle events, and enforce internal rules with the latest documentation.
StandardFusion is used in IT, manufacturing, healthcare, and finance. Helping firms with risk mitigation, compliance monitoring, and incident response ensures efficient risk management, compliance operations, and problem-solving.
StandardFusion uses safe storage and transmission mechanisms to ensure data integrity and compatibility. Using external apps and resources streamlines information sharing and boosts productivity. StandardFusion is a cloud platform accessible from any web browser.
Users can access the tool’s many modules and functions after logging in. This application lets users create policies, manage events, personalize risk assessment forms, and monitor items.
StandardFusion’s easy UI, customizable dashboards, automated workflows, and collaborative capabilities simplify risk management and promote cross-functional cooperation.
Why Do We Recommend It?
- Continuously monitor risks and track mitigation efforts.
- Capture and track incidents, breaches, and security events.
- Assess and manage the risks associated with third-party vendors.
- Identify critical processes and assets for business continuity.
| What is Good? | What Could Be Better? |
|---|---|
| StandardFusion’s intuitive interface makes it easy to use. | StandardFusion’s GRC processes should match an organization’s needs. |
| Businesses can customize the platform to fit their needs. | StandardFusion has a mobile app, but its functionality may be limited. |
| The platform helps teams and stakeholders collaborate. | |
| Scales for different-sized organizations. |
StandardFusion – Trial / Demo
9. Wrike
Year: 2006
Location: San Jose, California, United States of America.
The excellent business management application Wrike can streamline project management methods. Its easy-to-use interface and powerful features aid teamwork and goal-setting. Team members can use task creation, assignment, due date, and status tracking.
This keeps everyone on track and streamlines projects. It centralizes file-sharing, comments, and conversations. Team members can work together, share ideas, and learn. Wrike is excellent for managing several projects. Its interactive Gantt chart shows task linkages, time, and priority.
Wrike’s Kanban boards help agile teams view workflows, switch tasks, and customize project management. Integration boosts Wrike’s strength. It integrates with Jira, Slack, and Microsoft Office to simplify workflows and collaboration.
Wrike protects data using encryption, backups, and user restrictions, which protects private data. Its rich reporting and analytics features allow project managers to provide detailed reports on project status, team efficiency, and resource consumption.
These invaluable insights help make decisions and identify growth opportunities.
Why Do We Recommend It?
- Track task progress and completion
- Create standardized project structures for easy replication.
- Upload and store documents in a centralized repository.
- Create customized reports and dashboards.
- Visualize project data and key performance indicators (KPIs).
| What is Good? | What Could Be Better? |
|---|---|
| Get insights with robust reporting. | Wrike can be expensive for larger teams, depending on the plan and the number of users. |
| Improve efficiency by automating monotonous processes. | Wrike has many features, but some users may not use them all. |
| Improve workload and resource allocation. | |
Wrike – Trial / Demo
10. Qualys
Year: 1999
Location: Foster City, California, United States
A robust risk management system, Qualys helps businesses improve security, preserve data, and comply with regulations. Qualys assesses vulnerabilities with automated scans, risk assessments, and thorough reports.
In real time, it checks policy compliance and preloads threat intelligence to safeguard you. Qualys’s automatic scanning finds vulnerabilities and assesses IT security. It analyzes data and produces valuable reports.
Qualys connects with security products for visibility and risk mitigation. The tool’s automatic and user-friendly features ease corporate risk management.
Effective vulnerability management is provided by Qualys’ risk identification and prioritization tools, compliance assessment support, real-time monitoring, and forensic analysis during incident response
Qualys provides visibility in cloud, on-premises, and hybrid settings by connecting to several operating systems and IT architecture.
Users like Qualys’ clean design, detailed reporting, and easy use. Data is encrypted in transport and storage by Qualys. Industry-standard access restrictions, authentication, and data protection for susceptible data.
Customer support from Qualys includes manuals, tutorials, and a dedicated team. Certificates, workshops, and training satisfy customers and teach best practices. Qualys’ flexible pricing considers assets, modules, support, and annual subscriptions.
Why Do We Recommend It?
- Discover and inventory assets across your organization’s network.
- Monitor for known threats and vulnerabilities using threat intelligence feeds.
- Scan and assess container images for vulnerabilities.
- Monitor critical system files and directories for unauthorized changes.
| What is Good? | What Could Be Better? |
|---|---|
| Uses threat intelligence for proactive security. | Qualys’ complex features may take time and effort to master. |
| Qualys automates vulnerability scanning and assessments. | Some scanning may be impossible for offline or air-gapped systems. |
| Helps companies comply with regulations. |
Qualys – Trial / Demo
11. Netwrix
Year: 2006
Location: Frisco, Texas, US
Perpetual and subscription licensing exist. Netwrix is a complete IT infrastructure risk management system. Its strong features and operations help firms prevent security risks, protect sensitive data, and meet legal requirements.
Netwrix helps firms assess risk, manage compliance, find internal risks, and secure secret information. Netwrix analyzes IT infrastructure logs, event records, and configuration data. The system analyzes user behavior and security concerns using complicated algorithms and regulations.
The tool’s report and alert creation capabilities help organizations manage risk and protect assets. Netwrix uses this technology for risk analysis, compliance, user activity tracking, and data security. Netwrix supports numerous computer and network security systems.
Its seamless interaction with Active Directory, Microsoft Exchange, and SharePoint gives it comprehensive coverage and user-friendliness. Its straightforward design and numerous reporting tools earn Netwrix high praise.
Only authorized users can access sensitive data on Netwrix using encryption, access controls, and authentication. Netwrix’s training and support tools include documentation, video classes, and friendly customer service.
Netwrix’s pricing is flexible to match any business’s needs, regardless of size or features. License charges include one-time and continuing subscriptions.
Why Do We Recommend It?
- Track user actions and behavior across systems and applications.
- Automatically classify sensitive data based on predefined policies.
- Detect abnormal user behavior and potential insider threats.
- Monitor and audit actions of privileged users and administrators.
| What is Good? | What Could Be Better? |
|---|---|
| Customizes reporting for in-depth analysis. | Netwrix’s complex features may take time and effort to master. |
| Has an easy-to-use dashboard. | Netwrix’s many features may complicate implementation and maintenance. |
| Works with IT and security tools. | |
| Automation simplifies security and compliance. |
Netwrix – Trial / Demo
12. Riskalyze
Year: 2011
Location: Auburn, 373 Elm Ave, United States
Business risk management tool Riskalyze works well. Its insights help firms assess, analyze, and mitigate risks throughout their operations to safeguard assets and achieve goals. With risk assessments and adjustable risk scoring, Riskalyze helps identify and prioritize risks.
It interacts with multiple data sources, assuring data integrity and compatibility. Users can use departmental data for a more holistic risk management strategy. Risk intelligence-based teamwork and information sharing are also encouraged.
Riskalyze addresses investments, compliance, patient safety, data privacy, and supply chain disruptions to increase operational efficiency and asset protection in banking, healthcare, and manufacturing.
Riskalyze’s simple UI, clear dashboards, and actionable reports appeal to users. It notifies enterprises of significant dangers in real-time so they may respond quickly. Riskalyze prioritizes data security. To safeguard sensitive data, it uses encryption and access controls.
Regular security audits and industry standards protect data. Riskalyze offers dedicated support, documentation, and training to enhance user value. The sales team provides pricing and licensing information. The price model considers organization size, user count, and needed functionality to fit varied budgets.
Why Do We Recommend It?
- Administer personalized risk assessment questionnaires to clients.
- Assess the risk and potential returns of client portfolios.
- Create model portfolios that align with clients’ risk preferences.
- Access training materials and support resources for effective use of the platform.
| What is Good? | What Could Be Better? |
|---|---|
| Prepares detailed risk reports for client meetings and compliance. | Some users may find the platform’s subscription rates costly. |
| Discussions and education on risk engage clients. | Users may take time to master the platform. |
| Helps financial professionals meet regulations. | |
| Scales for individual advisors and huge financial institutions. |
Riskalyze – Trial / Demo
13. ServiceNow
Year: 2004
Location: Santa Clara, California, United States
ServiceNow is a robust Enterprise Risk Management Tool that speeds up and optimizes risk identification, assessment, and mitigation.
ServiceNow offers streamlined risk assessment, centralized incident management, automated compliance, vendor risk management, and in-depth risk analytics and reporting for effective risk management. ServiceNow’s system integration protects data.
Among its best qualities are its customizable dashboards and simple UI. ServiceNow offers trustworthy safety and customer service, and its friendly sales staff can explain the tool’s flexible price plans.
ServiceNow manages risks like compliance, security, financial transactions, patient safety, and data privacy for banks, healthcare providers, manufacturers, and governments.
We also address supply chain interruptions, operational efficiency, product quality, environmental restrictions, public safety, cybersecurity, data protection, and regulatory compliance.
ServiceNow may be used anywhere with an internet connection. It can manage risk assessment, incident management, compliance monitoring, and vendor risk management in one system. Automation, protocols, and analytics boost efficiency and provide rapid feedback.
User-specific dashboards, reports, and alarms for proactive risk management.
Why Do We Recommend It?
- Track and manage incidents and service disruptions.
- Track and manage IT assets and resources.
- Provide a centralized point of contact for IT support.
- Detect, investigate, and respond to security incidents.
| What is Good? | What Could Be Better? |
|---|---|
| ServiceNow’s UI is simple and easy to use. | Setting up and customizing ServiceNow might take time, delaying its full benefits. |
| Allows mobile access. | Due to the platform’s flexibility, organizations may over-engineer processes, adding complexity. |
| Scales for different-sized organizations. | |
ServiceNow – Trial / Demo
14. HighBond
Year: 1982
Location: Vancouver, British Columbia, Canada.
HighBond ERM software reduces vulnerabilities, improves compliance, and drives continual development. The cloud-based platform saves, processes, and reports risk data, simplifying risk identification, evaluation, and prioritization.
Users can create risk matrices, assess probability and impact, and assign risk ownership. It helps companies comply with government, company, and voluntary industry requirements. Businesses can develop and maintain internal control systems with the program.
It simplifies creating control tests, monitoring control performance, and finding system flaws. This tool also simplifies audit preparation and reporting. HighBond centralizes incident tracking and reporting.
It helps banks and insurance companies handle money transfer, compliance, and client data concerns. HighBond helps healthcare providers identify and mitigate risks like patient safety, data privacy, and HIPAA compliance.
HighBond was designed for corporate system interoperability and data integrity. It works with popular ERP and GRC platforms. It is often praised for its simplicity and usability.
Risk management professionals and stakeholders will like the tool’s easy UI and customizable dashboards. HighBond protects user data and private data using industry-standard encryption. Many training and support options let users maximize the tool’s capabilities.
Why Do We Recommend It?
- Continuously monitor risks and track mitigation efforts.
- Track and manage compliance with various regulations, standards, and laws.
- Design internal controls and assess their effectiveness.
- Execute audits, manage work papers, and track findings.
| What is Good? | What Could Be Better? |
|---|---|
| Promotes safety and sustainability EHS initiatives. | Reliance on Galvanize for updates, support, and additions may limit flexibility. |
| Storage and version control for documents. | HighBond setup and implementation can delay platform benefits. |
| Supports continuous improvement through data analysis. | |
HighBond – Trial / Demo
15. SAI360
Year: 2008
Location: Chicago, Illinois
A robust risk management framework is crucial in today’s fast-changing business environment. ERM tool SAI360 helps organizations discover, assess, and mitigate risks. SAI360 is a comprehensive risk management solution with many features and functions.
SAI360 helps companies discover and manage risks across their operations. Financial, operational, compliance and strategic risks are included. SAI360 provides risk reduction tools and resources. Risk control plans, registers, and workshops exist.
SAI360 allows firms to report risk in many ways. Graphical, dashboard, and narrative reports exist. SAI360’s comprehensive risk identification, assessment, and mitigation solution may help firms improve risk management.
SAI360 helps firms comply with regulations by tracking and managing risk. SAI360 can spot and mitigate hazards before they become issues, saving companies money. It helps firms identify and manage risk, which improves decision-making.
SAI360 can boost risk management in organizations. SAI360 helps organizations detect, assess, mitigate, and report threats to improve decision-making and profitability.
Why Do We Recommend It?
- Continuously monitor risks and track mitigation efforts.
- Conduct assessments to ensure adherence to compliance requirements.
- Execute audits, manage work papers, and track findings.
- Develop and execute response plans for different incident types.
- Create custom reports and visualizations to analyze data and trends.
| What is Good? | What Could Be Better? |
|---|---|
| Offers extensive risk assessment, modeling, and mitigation tools. | SAI360 licensing, implementation, and support can be expensive. |
| Aids audit preparation, execution, and reporting. | SAI360’s advanced features may take time and effort to master. |
| Ensures organizations meet regulatory criteria. | |
| Provides comprehensive reporting and analytics for data-driven decision-making. |
SAI360 – Trial / Demo
