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In todays world, every industry has numerous regulations and requirements with which businesses must comply.
These regulations center around various aspects, such as safety, privacy, transparency, and even internal security.
Compliance management is more than adhering to documents and long paperwork.
With so many risk management tools on the market, it will be difficult to pick one.
But no to worry, Ive shortlisted the best risk management software with unique features and industry use cases.
you’ve got the option to trust Geekflare
At Geekflare, trust and transparency are paramount.
The platform provides real-time insights into internal audits with its easy-to-use visual dashboards.
It uses generative AI to generate control, risk, and issue languages based on simple prompts.
AuditBoard Features
Identify risks and prioritize the risks based on impact.
Unified platform for improved collaboration across planning, fieldwork, and reporting areas.
Intelligent recommendations that uncover insights into mapping between controls and framework requirements.
Automated evidence collection feature that pulls out the data from the source system without the need for coding.
Third-party vendor assessments using the pre-build templates and compare them based on a score.
This intuitive platform uses a 360-degree view to streamline the risk identification process, from identification to remediation.
Apptega offers various solutions, including vendor risk assessment, audit management, and security posture management.
It helps build comprehensive compliance programs with continuous scoring, tasking automation, risk management, and more.
Apptega Features
Questionnaire-based templates to create assessments against 30+ frameworks.
Unified dashboard that gives real-time snapshots of assessments.
Ability to manage multiple frameworks as one cohesive program without the risk of duplicity.
Cross-team collaboration is needed to manage compliance programs in a large organization efficiently.
Create a mapped program by connecting 3-5 frameworks with a click.
Some users have reported a need for more documentation and support
Offers limited integration
3.
One of its major USPs is its compliance programs for EHS (environment, health, and sustainability).
Enablon serves various industries, including aerospace, chemical, manufacturing, pharma, utility, and more.
Enablon is used by companies such as British Airways, JAL, Pepsico, Rolls Royce, and more.
It was founded in 2000 and is headquartered in France.
Enablon Features
Single integrated platform for managing GRC, ESG, and EHS processes across the organization.
Barrier management provides a holistic and real-time view of site control measures.
Real-time snapshots of your ESG, EHC, and GRC processes by integrating with IoT devices and external systems.
It offers a drag-and-drop visual dashboard for deeper insights.
Enablon Pros/Cons
User-friendly Enablon mobile app for performing compliance and audit processes.
Fusion was founded in 2006 and is headquartered in Chicago, Illinois.
Fusion Features
Integrate with external systems to assess risks within the organization.
Real-time data helps with the quick identification of risks and crises.
Create integrated response plans for IT organizations through eight essential elements.
Ability to create a unified library with industry best practices, enforce standards, and plan policies.
Generative AI-powered CoPilot helps suggest response plans and create incident reports using prompts.
Run various scenarios to identify critical risks and create action plans with a click.
Does not offer direct integrations but through connectors
Users have reported slow customer response times
5.
IBM Open Pages was founded in 1996 and is headquartered in Massachusetts, United States.
It is used by various enterprises, such as CitiBank, Aviva, and SCOR SE.
IBM Open Pages Features
User-friendly interface that streamlines complex processes and user actions.
Drag-and-drop GRC workflow with high customizability
Automated calculations that assign values for various risk-based activities.
Consistent view of risk and compliance through the integration of standard libraries, REST APIs, and third-party integrations.
Dynamic dashboard, real-time charts, and dimensional reporting enable detailed insight into incident and risk management.
LogicGates ability to create customizable risk management frameworks makes it a great fit for any industry.
LogicGate was founded in 2015, and it is headquartered in Chicago.
LogicGate Features
Ability to create and customize the risk cloud applications on the go.
Seamless data privacy management helps avoid compliance gaps and adapt to regulatory change.
Customizable workflows to identify internal audits, entities, and testings.
Supports more than 25 frameworks and regulations.
The platform offers an intuitive whistleblowing service with a culture of anonymity in a large organization.
With Navex, organizations can also scale their processes as their business evolves.
Navex is used by over 13,000 brands, including Hitachi, Coca-Cola, Pepsico, Verizon, and more.
Founded in 1997, Navex Global is headquartered in Oregon, US.
Customizable whistleblowing and compliance frameworks tailored for your industry.
Third-party risk assessment includes real-time alerts, quick onboarding, and risk uncovering from 50 categories.
Comprehensive ESG reporting through automated workflows and efficient tracking.
Offers advanced forecasting capability and relevant insights by personalized analysis.
It heavily focuses on IT risk management and disaster recovery and supports multiple frameworks.
Resolver collects risk data and scrutinizes it based on the business context to identify and mitigate risks accurately.
It stands out for its incredible technical assistance and customized setup.
It was founded in 2000 and headquartered in Ontario.
Resolver Features
Real-time collaboration and communication with your internal teams for compliance and regulatory obligations.
Create documentation, reports, and regulatory requirement proofs with a click.
Automated workflows help collect evidence and streamline processes with automated reminders.
Advanced threat protection helps detect, investigate, assess, and report threats with ease.
Detailed high-lever reports that cover snapshots of your business continuity programs and measure the financial impact.
ZenGRC offers flexibility and scalability to fit the organizations unique risk posture and scoring requirements.
External auditors can dive into the system with limited permissions to the audit process.
ZenGRC was founded in 2009 and is headquartered in San Francisco, US.
Unified platform for centralized evidence collection and requesting updated evidence.
Maintains compliance across various jurisdictions to manage and automate all GRC processes.
Questionnaire-based assessments to analyze third-party risks.
Automated issue identification and tracking when controls are marked ineffective.
The platform supports various security frameworks, allowing businesses to improve their security posture.
Strike Graph offers a comprehensive dashboard that allows teams to distribute the responsibility and automate the process.
Strike Graphs key features include penetration testing, vulnerability scanning, risk management, and compliance dashboards.
Founded in 2020, StrikeGraph is headquartered in the Western US.
Real-time validation of evidence and what evidence is needed for each control.
Detailed vulnerability scanning, such as outdated software versions and missing patches.
Easy export of evidence for audits and reporting.
Ability to customize and prioritize unique risks specific to your business.
This cloud-based platform uses machine learning technology to perform compliance actions and identify risks.
Archer serves in 48 countries and has over 500 Fortune 500 customers.
Founded in 2000, Archer is headquartered in Kansas, United States.
Robust ESG management with a graphical and real-time view.
Central repository for the organizations regulatory changes using centralized data.
AI-powered analytics that gives data such as claims, risk scores, and other metrics to optimize policies.
Unified system to consolidate the organizations internal audit process.
The platform supports automated workflows, can be deployed in the cloud or on-premise, and offers mobile-based applications.
With this powerful risk management platform, organizations can identify, assess, analyze, and monitor the risks.
SAP was founded in 1972 and is headquartered in Walldorf, Germany.
SAP Features
Real-time monitoring of internal and external systems for business assessment.
Automated business monitoring and evaluated risk programs in a graphical view.
Built-in security features and SAP add-ons for extra protection.
Rules-based workflows for issue resolution and mitigation.
Centralize data library on business controls, regulations, risk drivers, and impacts.
Hard to set up for beginners
Too expensive for small and mid-sized businesses
13.
The platform allows you to automate workflows, prepare for audits, and mitigate operational risks.
Using a centralized system, teams can seamlessly identify operational loss and keep track of these issues.
It specifically caters to industries like healthcare and fintech for safeguarding patient data across centralized control systems.
Hyperproof was founded in 2018 and is headquartered in Washington, US.
Hyperproof Features
Use security questionnaire templates to send to vendors and monitor completion progress.
Ability to send automated audit connection requests and collaborate effectively on audit processes.
Built-in exportable dashboards and reports to track risks in real-time.
Security features such as user permissions, multi-factor authentication, and Single Sign-On are included.
Vendor and risk management helps assess risk levels and create action plans.
Using a no-code approach, ServiceNow creates multiple complex workflows.
AI-powered conversational chatbot for personalized support.
Centralized security management to improve cyber resilience and monitor security risks.
Secureframe
Best for Streamlining Compliance Audits
About Secureframe
Secureframe is the best choice for streamlining compliance audits.
The platform empowers AI capabilities for evidence collection, continuous monitoring, and risk management in automation.
Secureframe helps compliance teams build robust strategies by automating policy creation, evidence collection, and vendor management.
It offers real-time monitoring that helps with agile vulnerability detection and personalized support for compliance programs.
Secureframe is the perfect compliance solution for small businesses.
It scales as your needs grow.
Founded in 2020, it is headquartered in California.
Secureframe Features
Offers dedicated support from security experts and personalized assistance.
Generate answers to security questionnaires through GenAI for an improved knowledge base.
Complete control over your compliance programs and map one control to multiple frameworks.
Automated personnel management through various integrations.
Comprehensive system for assessing vendor security, managing compliance, and continuous monitoring.
Sprinto was founded in 2000 and is headquartered in California.
Sprinto Features
Orchestrates compliance programs without needing an auditors assistance.
Real-time vulnerability assessment and risk mitigation as they are pinpointed.
Security questionnaire with ready-to-use responses and auto-response options.
Automated security audits to identify security gaps along with monitored logs, documentation, and system snapshots.
Role-based access and control management.
The platform offers three solutions: Compliance Hub, Risk Hub, and Executive Hub.
Cybersaint was founded in 2016 and is headquartered in New England.
CyberSaint Features
Ability to view compliance posture year over year or a specific period.
AI-powered real-time assessment and control automation.
View risks from any angle through risk dashboards and detailed reports.
Who Uses Compliance and Risk Management Software?
What is the Purpose of Compliance and Risk Management Software?
Compliance and risk management software helps businesses identify, assess, and reduce risks associated with non-compliance.
What are the Benefits of Compliance and Risk Management Software?
What is the Difference Between Compliance and ERM Software?
Compliance, on the other hand, helps keep track of the industry regulations and avoid non-compliance.
Here are the differences between the two types of software:
