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There are so many different integrated risk management software, so making a shortlist of the best can be tricky. You want to provide a comprehensive view of potential threats from financial, operational, and cybersecurity risks—and now need the right tool for your company and team. In this post, I share my insights on different IRM platforms and recommend my picks of the best integrated risk management software overall, based on my experience as an HR specialist.

What is Integrated Risk Management Software?

Integrated risk management software is a tool that helps organizations manage and mitigate various risks. It combines data from different sources to provide a unified view of risk exposure, covering areas like cybersecurity, compliance, operational, and financial risks.

This software facilitates strategic planning, decision-making, and regulatory compliance by identifying, assessing, and prioritizing risks. It's designed to enhance organizational resilience and efficiency, providing insights and controls to proactively address potential threats and vulnerabilities.

Overviews of the 10 Best Integrated Risk Management Solutions

Here’s a brief description of each top 10 integrated risk management software solution to showcase each tool’s best use case, some noteworthy features, and screenshots to give a snapshot of the user interface. Keep reading to find additional bonus picks at the bottom of the list.

Best for providing real-time risk assessments and mitigation

  • Free demo available
  • Pricing upon request
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Rating: 4/5

Alyne is a full-suite GRC platform for governance, risk, compliance, and ESG designed to deliver data-driven insights, powered by AI technology, to organizations.

Alyne helps teams understand laws and intuitively identify risks in real time, increase transparency and compliance efficiency, and collaborate more effectively across their enterprise and third parties. The tool lets you manage risk and reduce risk exposure. It also helps you understand and confidently implement compliance requirements, thoroughly assess risk, obtain detailed risk analytics and reporting, and make risk-aware decisions for your organization.

Additionally, you can leverage ready-to-go controls and assessment templates, automatic risk identification and qualification, and meaningful risk quantification methods to save on costs and increase time to value.

It is suitable to be used for environmental, social and governance (ESG) management, enterprise risk management, and internal controls and compliance.

Alyne's integrations include key enterprise platforms such as SAP, Salesforce, and Oracle, ensuring that data flows are coherent and uninterrupted.

Best risk management software for payroll & global hiring compliance

  • Free demo available
  • Flat rate user pricing, with a free version for businesses with up to 200 people
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Rating: 4.8/5

Deel is a global payroll and compliance platform designed to help businesses hire anyone, anywhere, in a simple, streamlined, and compliant way.

Deel specifically handles integrated risk management for payroll and global hiring compliance. They do this by providing businesses with access to a global network of legal and financial experts who ensure compliance with local regulations and tax laws, minimizing risks for your business. Deel also provides a range of other compliance tools, including contractor agreements, time tracking, and HR support.

Deel offers a range of additional features and functions to help businesses hire and manage remote workers. One of its key features is automated payroll processing, which calculates and pays employee salaries, taxes, and benefits in over 120 currencies. Deel's platform also offers features such as invoicing, project management, and communication tools, making it a comprehensive solution for managing remote workers.

Deel has a flat rate user pricing, with a free version for businesses with up to 200 people. They also offer a free demo.

Best for multi-standard compliance management

  • 14-day free trial
  • From $1500/month
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Rating: 4.8/5

StandardFusion is a comprehensive GRC platform that specializes in multi-standard compliance management, making it an ideal tool for technology-focused Information Security teams. It offers solutions for risk management, audit management, compliance management, vendor management, policy management, privacy management, and compliance automation, helping organizations in various industries achieve and maintain compliance to standards and regulations.

I chose StandardFusion for integrated risk management software because it provides a comprehensive solution that addresses multiple facets of governance, risk management, and compliance (GRC). Its ability to manage compliance to a variety of standards, including ISO, SOC 2, NIST, HIPAA, GDPR, PCI-DSS, and FedRAMP, makes it a versatile tool for organizations across different industries.

StandardFusion has multiple existing integrations, including Jira, Confluence, Slack, OpenID, DUO, and Google Authenticator. They also offer options for single sign-on, integrations with UCF, and access to their API.

Pricing start at $1250 for 3 users/month.

Best integrated risk management software for enterprise

  • Free demo available
  • Pricing upon request
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Rating: 3.5/5

Corporater is an enterprise-scale software that can support your governance, performance, risk, and compliance (GPRC) operations. Its risk management capabilities are expansive, covering IT and web risk management, third-party risk management, project and portfolio risk management, operational risk management, and more. It's suitable to be used across an organization to detect, manage, and mitigate risks in all departments and teams.

The software can be used to digitize risk management at your organization and automate your various risk management processes. You can establish risk mitigation workflows in the platform to create consistent, standardized procedures for how to navigate different types of risks. Qualitative and quantitative risk assessments can be performed, helping teams make informed decisions on how to move forward when risks are detected.

Reporting can also be done with the software, and users can create visual dashboards to understand the risks detected, managed, and addressed at their organization.

Best for viewing your organization’s risk profile

  • Free demo available
  • Pricing upon request
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Rating: 4.5/5

Diligent's integrated risk management toolkit helps organizations identify, assess, and manage risk using a unified methodology. This can help your business make better risk-related decisions.

The tool has integrations that allow you to analyze multiple sources, including internal and external tools. You get a complete view of how the current risk environment affects your business.

Meanwhile, the tool’s dashboard and reporting features ensure you can view this information in a way that makes sense. It shows your organization’s current risk profile, including an overall risk score and how different risk factors contribute to its risk.

It’s easy to export these reports to provide relevant stakeholders with the data they need to make informed decisions to ensure business continuity.

Best security and IT risk management software for detecting data breaches

  • 20-day free trial
  • Pricing upon request
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Rating: 4.4/5

Netwrix Auditor’s advanced IT security software helps organizations detect security threats quickly and efficiently. Their software can analyze user permissions for company data, including digital files and folders, at scale, with the ability to analyze files in batches by file type, user name, or access date. You can also set up automated alerts so your IT team is notified immediately of any suspicious activity.

Netwrix Auditor includes advanced audit management reports that will improve your organization’s security by pointing out weak spots in your IT infrastructure that need optimization. They have helped over 7,000 organizations secure their sensitive data and successfully pass compliance audits.

Integrations are available with Active Directory, Microsoft 365, SharePoint, Oracle Database, Windows File Servers, NetApp, and numerous other IT systems.

Best for tying risk to specific incidents

  • Free demo available.
  • Pricing upon request
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Rating: 4.3/5

Resolver is a user-friendly risk management tool used by over 1000 businesses, including Starbucks and Nestle. It has solutions for corporate security, compliance, and information security teams.

The risk management solution has everything teams need to discover, assess, and minimize risk. The software’s highlight is the risk assessment features that tie issues to specific incidents and actions, ensuring they relate to actual business events. Highlighting these risk indicators helps you spot gaps in your risk management strategy while showing the impact of your strategies.

Resolver has plenty of other valuable features. For example, the drag-and-drop builder makes it easy to create processes suited to your business. The tool doesn’t require any programming knowledge, which brings the ability to create and customize workflows to anyone in your organization.

Best for intelligently identifying issues

  • Free demo available
  • Pricing upon request
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Rating: 4.5/5

MetricStream is Enterprise Risk Management (ERM) software with modules that help you understand and react to risk across your organization.

The tool has features for identifying and defining risk. Use them to document all the risks your business faces. Once set up, you can view key issues in the dashboard.

The product stands out because it lets you assess risk using internal audits that consider how they relate to your organization, objectives, products, and processes. The idea is that this will improve the efficiency of audits, helping you complete them faster.

MetricStream's intelligent issue and remediation feature is also useful. It uses AI and machine learning to identify issues and make recommendations. You can then review each issue, create a plan, and assign it to a team member to minimize the risk.

Best for managing asset risk

  • Free demo available
  • Pricing upon request
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Rating: 4.1/5

Ventiv's integrated risk management platform is designed to pinpoint hidden risks to your data, hoping you lower your total cost of risk (TCoR).

The software has plenty of useful features, including incident management, claims management, exposure and asset management, insurance renewal automation, property loss control, cost allocation & calculation, policy and program management, and safety management.

They also offer dedicated solutions for patient safety, medical billing, and medical professional liabilities, making them a good choice for healthcare organizations.

Their incident management toolkit highlights problems as soon as they occur, enabling you to take action that minimizes their impact. It also provides visibility into potential future issues so you can take preventative action.

Another feature is asset management. It provides an overview of your assets and their exposure to risks. It also helps you understand how these assets relate to your overall risk profile.

Best for managing risks within projects

  • 30-day free trial
  • $99/year (special: $57/year)
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Rating: 3.5/5

RAIDLOG.com is a project and risk management software that helps organizations identify and mitigate risk in their business initiatives. It's built around the framework of Risk, Action, Issues, and Decisions. By using this framework, teams can effectively determine potential risks associated with each project, set action items towards project completion, manage project issues as they arrive, and make and track decisions along the way.

The software has a customizable risk matrix that can be used to identify risks, evaluate their severity, and assign an appropriate response plan. Its predefined risk frameworks help businesses define and evaluate their risks against industry standards. A reporting dashboard gives a visual overview of risk and project data over time, like the frequency of incidents or the change in risk scores. Custom reports can also be created on things such as risks, remediation, and compliance.

A regulatory compliance module automates compliance processes for GDPR, HIPAA, and PCI-DSS regulations. The software has a comprehensive library of rules, standards, and industry best practices, which is continually updated to ensure compliance with evolving regulatory requirements.

Best Integrated Risk Management Solutions: Pricing Comparison Chart

This comparison chart summarizes basic details about each of my top risk and compliance management solutions. You can view pricing details and the availability of free trials or demos side-by-side to help you find the best software for your budget and business needs.

Tools Price
Mitratech Pricing upon request
Deel Flat rate user pricing, with a free version for businesses with up to 200 people
StandardFusion From $1500/month
Corporater Pricing upon request
Diligent ESG Pricing upon request
Netwrix Auditor Pricing upon request
Resolver Pricing upon request
MetricStream Pricing upon request
Ventiv IRM Pricing upon request
RAIDLOG.com $99/year (special: $57/year)
Preview Image - <h2 class="c-block__title b-summary-table__title c-listicle__title h3" > Compare Software Specs Side by Side</h2>

Compare Software Specs Side by Side

Use our comparison chart to review and evaluate software specs side-by-side.

Compare Software

Other Risk Management Options

Here are a few more integrated risk management tools that didn’t make the top list but they are still worthy of consideration:

  1. LogicManager

    Best for customer support

  2. A1 Tracker

    Best risk management platform for data integrations

  3. TradeTapp

    Best cloud-based platform for profiling subcontractors

  4. VelocityEHS Risk Management

    Best platform for tracking and reducing environment, health, and safety-related risks

  5. IBM Financial Crimes Insight

    Best risk management software for financial institutions

  6. AuditBoard

    Best for creating risk mitigation workflows

  7. Archer

    Best for loss event management

  8. Onspring

    Best for viewing the monetary value of risk

  9. Fusion Framework System

    Best IRM software with situational monitoring and risk analysis reporting

  10. Risk Cloud by LogicGate

    Best risk management software with powerful automation features

Selection Criteria for Integrated Risk Management Software

Wondering how I created this list of the best integrated risk management systems? I started out by reviewing recent market data for integrated risk management software to get a sense of the biggest software providers in this niche.

Next, I examined each risk management platform carefully to understand how each one compared to other risk reporting solutions on the market.

Lastly, I used the evaluation criteria below to systematically compare each system against the others and uncover the clear winners in the pack.

Here's a summary of the selection and evaluation criteria I used to create this list:

Key Features of Risk Management Software

To help me compare each risk management solution to the next, I created this list of the key features I expected each system to cover:

  • Risk Identification: These features help you identify the risks your organization faces. They allow you to assess each potential issue to estimate how likely it is to occur and the potential damage it would cause. 
  • Workflows: Workflow features let you create and assign risk-related tasks to people within your organization. You can set deadlines and automate notifications to ensure people complete their work on time.
  • Loss Events: Some IRM tools let you analyze loss events or near misses to discover what went wrong and create processes to reduce the chances of these issues occurring again. 
  • Reporting: Reporting features help you present risk data and other key metrics to your organization's leaders, enabling them to make data-driven decisions.

Other Assessment Criteria

In addition to the key features above, I also assessed these additional criteria to make my final selections for this list:

  • User Interface (UI): A clear user interface helps you create visual reports that provide quick insight into your company’s risk profile. The best tools are a big improvement from managing risk via spreadsheets.
  • Usability: Risk management tools need to be intuitive and easy to use to create a positive user experience and encourage employees to perform the activities required of them.
  • Integrations: Some IRM tools integrate with business software and external data sources to provide a more informed overview of business risk. 
  • Value for Price: The right IRM tool helps you reduce risk and associated costs. With this in mind, it’s easy to see how they can provide value for money. The tools on the list use a SaaS business model meaning you pay a recurring fee.

Other Risk and Compliance Software

If you're looking for other types of software to help you manage your operational risk and compliance, check these lists out:

Conclusion

All the tools on this list help you understand how vulnerable your company is in different areas so you can take steps to protect yourself. Each solution is different, to satisfy a variety of different business needs.

Lastly, don’t forget to subscribe to the People Managing People newsletter before you go. We'll deliver exclusive insights from top HR thinkers into your inbox every week, for free.

By Kim Behnke

Kim Behnke is an HR Tool Expert & Writer for People Managing People. She draws on her 9 years of human resources experience and her keen eye for systematic processes to support her analyses of the top HR tools on the market. She is passionate about maximizing efficiencies and streamlining workflows to ensure internal systems run smoothly. Kim's HR experience includes recruitment, onboarding, performance management, training and development, policy development and enforcement, and HR analytics. She also has degrees in psychology, writing, publishing, and technical communication, and recently completed a Certified Digital HR Specialist program through the Academy to Innovate HR. When away from her desk, she can usually be found outside tending to her ever-expanding garden.