Having business agility on a greater height, aligning business performance, and business conformance is a key to enabling your organization to consistently and efficiently make sound decisions — acting as a unified business. Through this, you can effectively manage both current and emerging risks across geopolitical, digital, strategic, third-party, cybersecurity, and compliance areas. This integrated view of how well you manage your organization’s unique set of risks lets you understand the full scope of your risks.


If you’re looking to cut across organizational silos, standardize risk, control taxonomies, and unify risk management across all business functions, integrated risk management software is all you need.

11+ Integrated Risk Management Software

1. Logicmanager

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Rating: 4.8/5

Price: Custom

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2. Metricstream

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Rating: 4.3/5

Price: Custom

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3. Corporater

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Rating: 4.6/5

Price: Custom

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4. Armature

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Rating: 4.5/5

Price: Custom

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5. Riskonnect

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Rating: 5/5

Price: Custom

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6. Essential ERM

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Rating: 4.9/5

Price: FREE

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7. Lexcomply

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Rating: 5/5

Price: Custom

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8. Parapet

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Rating: 5/5

Price: $5/month

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9. Sofvie

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Rating: 4.7/5

Price: Custom

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10. Building Connected

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Rating: 4.6/5

Price: Custom

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11. Netwrix Auditor

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Rating: 4.6/5

Price: FREE

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12. Fusion Framework

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Rating: 5/5

Price: Custom

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What Is Integrated Risk Management Software

Integrated risk management software helps organizations to manage risks at full scope, covering all business functions. By standardizing risk management processes, this software can help organizations align their assurance programs and gain comprehensive visibility into both risk exposure and relationships.

Benefits

As we have mentioned, integrated risk management solutions provide full visibility into risk exposures and relationships. That visibility is key to better understanding risk inter-linkages and their impact on business performance. With integrated risk management software in your hands, you can strengthen your business’s resilience, enhance agility, and empower risk-aware decision-making.

Features

Key capabilities of most integrated risk management software support many areas, including the management of internal audit, enterprise risk, compliance, and third-party risk. Primary and additional features are:
– dashboards
– risk registers
– alerts
assessments
– approval
– collaboration
analytics
– and so much more

Top 10 Integrated Risk Management Software

1. HighBond

HighBond unifies and streamlines core risk management activities in a single platform. In addition, this software also integrates risk indicators into the assessment process in order to reduce subjectivity. If you are looking to save time, help distributed teams aggregate risk assessments, and achieve long-term results, you can leverage HighBond to improve your risk management process.

2. Essential ERM

Essential ERM is an enterprise risk management software with features including risk bow tie functionality, risk appetite frameworks and thresholds, strategy-centric risk, board reporting module, health maps, and more.

3. BuildingConnected

BuildingConnected is a subcontractor prequalification and risk mitigation platform used by general contractors and owners. BuildingConnected has an estimated annual revenue currently at $17.4M per year.

4. iAuditor

iAuditor allows businesses to update and distribute their best practices equipped with real-time visibility into effectiveness across their sites. iAuditor has good ratings and good reviews.

5. EcoOnline Platform

EcoOnline Platform empowers a company’s entire workforce using highly intuitive EHS software tools to promote behavioral change and build a strong safety culture. EcoOnline Platform generates $13.5M in revenue and has 93 employees.

6. AuditBoard

AuditBoard improves audit, risk, and compliance management using a modern, connected platform. AuditBoard generates $36.5M in revenue and has 281 employees.

7. Onspring

Onspring has a set of features that can help you manage your IRM processes from end to end. Onspring generates $9M in revenue and has 40 employees.

8. Fusion Framework System

Fusion Framework System provides an integrated and scalable approach to risk and resiliency for organizations. With good reviews and ratings, Fusion Framework System generates $28.6M in revenue.

9. VelocityEHS

VelocityEHS is a risk management platform that handles risk analysis, verification, and assurance, with bowtie capabilities, to find, evaluate, and control risks for you. VelocityEHS makes $61.2M in revenue and has 422 employees.

10. ZenGRC

ZenGRC is a cloud-based integrated risk management platform that allows holistic management of internal and third-party risk.

FAQs

What Is the Goal of IRM?

Integrated risk management aims to improve decision-making and performance by providing an integrated view of how well your organization manages its unique set of risks.

What Is the Difference Between IRM and ERM?

Enterprise risk management (ERM) is centered on reviewing strategic business decisions and the risks your technology poses to them. On the other hand, IRM specifically focuses on analyzing the risks inherent in your business technologies.

What Are the Attributes of IRM?

– Strategy
– Assessment
– Response
– Communication and reporting
– Monitoring
– Technology

For you to understand the full scop of risk, you need a comprehensive view across all business units and risk compliance functions, as well as business partners, suppliers, and outsourced entities. In order to develop this understanding, you will need risk and security leaders to address all six IRM attributes. All these are covered by IRM software.


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