Nowadays, every business, especially massive corporations, operates with technology, causing them to receive hundreds of data every day. These sets of data can be either helpful or harmful to your company. That is why firms have an IT department to evaluate risks from this data while securing their company’s data. Continue reading below. 

IT Risk Management

10+ IT Risk Management

1. Quantivate

quantivate

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Rating: 5/5

Price: Custom

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2. LogicManager

logicmanager

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Rating: 4.6/5

Price: $12000/Year

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3. LogicGate

logicgates

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Rating: 4.7/5

Price: Custom

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4. SureCloud

surecloud

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Rating: 4.4/5

Price: Custom

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5. MetricStream

metricstream

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Rating: 4/5

Price: Custom

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6. ZenGRC

zengrc

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Rating: 4.5/5

Price: $2500/Month

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7. Riskonnect

riskonnect

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Rating: 4.7/5

Price: Free

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8. OneTrust

onetrust

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Rating: 4.5/5

Price: $30/Month

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9. Fastpath Assure

fastpath assure

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Rating: 4.6/5

Price: $200/Month

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10. Resolver

resolver

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Rating: 4.5/5

Price: $10000/Month

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11. Galvanize

galvanize

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Rating: 5/5

Price: $229/Year

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What is IT Risk Management Software?

Using technology as part of your company gives out impressive contributions. However, you can’t ignore the fact that technology also provides immense risks. That is why experts developed IT risk management software to help companies that use technology evaluate and assess data that put your company at risk. IT risk management software provides innovative features and functionalities to help you monitor and detect threats, vulnerabilities, and consequences that could occur if data is not secured. Such a tool presents quick and convenient methods that can assist you in locating weak points in your company’s system. Data is the lifeblood of every company, which is why high security is a must. 

Benefits

Various threats are always lurking in the corner. Without high security and high-quality risk management, putting your company in a disadvantageous position is possible. With IT risk management software, you can prevent threats from destroying your system due to its attributes. You can strengthen weak points and guarantee a long-lasting company life span.  

Features

There is numerous software available in the market provided by various known technology firms. However, to ensure you avoid wasting money from buying incompatible or unreliable software membership plans. It is advisable to research and assess software you find interesting. As you know, some platforms give out empty promises; that is why considering crucial factors such as its capabilities is essential. Reading user reviews and reviewing ratings is also helpful to determine which software is the best for your company. Below are a few advanced features most users recommend:

  • Activity Dashboard
  • Activity Planning
  • Activity Tracking
  • Brainstorming
  • Budget Management
  • Alerts/Notifications
  • Predictive Analytics
  • Threat Response

Top 10 IT Risk Management Software

1. MetricStream

MetricStream includes corrective and preventive actions (CAPA), legal risk management, exceptions management, and more valuable features. MetricStream has annual revenue of $268.8 million and 1,854 employees. 

2. OneTrust

OneTrust includes automated routing, compliance tracking, consent management, audit trail, and more valuable features. OneTrust has annual revenue of $221.4 million and 1,894 employees. 

3. Galvanize

Galvanize includes archiving and retention, data connectors, data visualization, operational risk management, and more innovative features. GAlvanize has annual revenue of $100 million and 477 employees. 

4. Riskonnect

Riskonnect includes controls audit, exceptions management, incident management, audit planning, and more advanced features. Riskonnect has annual revenue of $59.4 million and 457 employees. 

5. LogicGate

LogicGate includes activity tracking, compliance management, activity dashboard, monitoring, and more advanced features. LogicGate has annual revenue of $31.2 million and 215 employees. 

6. ZenGRC

ZenGRC, developed by Reciprocity, includes vendor assessment management, audit management, risk management, and more innovative features. Reciprocity has annual revenue of $25.4 million and 175 employees. 

7. Resolver

Resolver includes asset tracking, controls audit, alarm management, business process control, and more advanced features. Resolver has annual revenue of $19.8 million and 79 employees. 

8. SureCloud

SureCloud includes data mapping, HIPAA compliance, internal controls management, offboarding, and more valuable features. Surecloud has annual revenue of $18.2 million and 89 employees. 

9. LogicManager

LogicManager includes compliance tracking, environmental compliance, incident management, data security, and more valuable features. LogicManager has annual revenue of $10.7 million and 74 employees. 

10. Quantivate

Qunativate includes audit management, business process control, disaster recovery, performance metrics, and many more innovative features. Quantivate has annual revenue of $10 million and 69 employees. 

FAQs

Why is IT risk management important?

Businesses receive and send data daily. Data can be beneficial or harmful. IT risk management ensures that your company’s system is secure and protected. Such a procedure can also locate vulnerabilities in your system that can be prone to malware. These are a few factors that explain why IT risk management is essential to every firm.

Why is software crucial in IT risk management?

Manual processes are undeniably time-consuming and a lot of work. On top of that, it can give you inaccurate results, which can drive you to inaccurate fixings and plans. However, the software can lessen or even eradicate these challenges. It possesses features that can give you accurate data analysis, enabling innovative procedures.

What are the benefits of risk management?

Risk management provides impressive benefits and advantages to your company. Executing high-quality risk management helps you locate vulnerabilities of the critical aspect of your business. Risk management improves decision-making that involves budgeting, sales and operational planning, and project management. This method helps you save weak points and polish operations in your firm.

Undeniably, technology is what businesses need to grow and develop. Although, that is indeed the case. It requires continuous monitoring and maintenance to ensure the prevention of threats and vulnerabilities. Technology is a double-edged sword; it gives immense assistance, but it can also lead you to your downfall. That is why it is crucial to execute IT risk management and assessment to ensure security and purge vulnerabilities.

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