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10 Best Integrated Risk Management Software [2023]

The Top Integrated Risk Management (IRM) Software Shortlist

Here’s the list of the best integrated risk management platforms that I’ll cover in this article.

  1. 1. Deel — Best risk management software for payroll & global hiring compliance
  2. 2. Corporater — Best integrated risk management software for enterprise
  3. 3. RAIDLOG.com — Best for managing risks within projects
  4. 4. Diligent ESG — Best for viewing your organization’s risk profile
  5. 5. Netwrix Auditor — Best security risk management software for detecting data breaches
  6. 6. Resolver — Best for tying risk to specific incidents
  7. 7. A1 Tracker — Best for data integrations
  8. 8. AuditBoard — Best for creating risk mitigation workflows
  9. 9. Archer — Best for loss event management
  10. 10. LogicManager — Best for customer support

Business risk is inevitable, but many companies aren’t sufficiently prepared. A McKinsey study found that only 6% of executives feel they are effective at managing risk. 

Risk management software can help. These tools work by helping you define risks, assess their potential impacts, and create strategies to mitigate each one. 

They also often have reporting features that show how your actions are affecting the overall risk your business takes on. 

You just need to find the tool that suits your business. This list of the ten best-integrated risk management tools will help.  

Comparison Criteria

What do I look for when I select the best-integrated risk management systems? Here’s a summary of my evaluation criteria: 

  1. 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 on managing risk via spreadsheets.
  2. Usability: Risk management tools need to be easy to use to encourage employees to perform the activities required of them. 
  3. Integrations: Some IRM tools integrate with business software and external data sources to provide a more informed overview of business risk. 
  4. Value for $: 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.

Integrated Risk Management: Key Features

  1. 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. 
  2. 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 the work on time. 
  3. 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. 
  4. Reporting: Reporting features help you present risk data to your organization's leaders, enabling them to make data-driven decisions. 

Overviews Of The 10 Best Integrated Risk Management Solutions

Here’s a brief description of each 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. 

1

Deel

Best risk management software for payroll & global hiring compliance

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, as well as by providing automated payroll and compliance tools that simplify the process of paying and managing remote workers.

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 also provides a range of compliance tools, including contractor agreements, time tracking, and HR support, to ensure businesses remain compliant with local laws and regulations.

Deel offers a global network of legal and financial experts who can provide businesses with guidance and support when it comes to complex compliance issues. Finally, 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.

This is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.
4.6 679

Free demo available

Flat rate user pricing, with a free version for businesses with up to 200 people

2

Corporater

Best integrated risk management software for enterprise

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. A free personalized demo is available, and pricing is available upon request.

Free demo available

Pricing upon request

3

RAIDLOG.com

Best for managing risks within projects

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.

A free plan and free demo are available. Paid plans start from $99/year, although a special product launch price of $57/year is currently available.

This is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.
3.5 2

30-day free trial

$99/year (special: $57/year)

4

Diligent ESG

Best for viewing your organization’s risk profile

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.

Diligent doesn’t provide pricing information, but you can contact the company for a product demo.

This is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.
4.5 105

Pricing upon request

5

Netwrix Auditor

Best security risk management software for detecting data breaches

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

They offer pricing details upon request, as well as a 20-day free trial.

This is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.
4.4 24

20-day free trial

Pricing upon request

6

Resolver

Best for tying risk to specific incidents

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.

Resolver doesn’t advertise pricing online, but you can find out more via the website.

This is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.
4.3 45

Pricing upon request

7

A1 Tracker

Best for data integrations

A1 Tracker is a risk management toolkit for tracking issues in all areas, including environmental, political, and financial. The tool can assess risk across your organization and in external vendors.

The software has multiple features that help you manage risk. In the analysis stage, you can assess the probability of a potential issue occurring and the estimated impact it could have on business operations.

Once you’ve assessed potential problems, the risk management workflow toolkit helps you create an action plan to deal with them. Just define each step necessary to handle a risk, assign a manager, and then set notifications to alert people to the work they need to do.

The tool also has plenty of reporting features. You can view quick reports about overall risk management or check timeline graphs that show how this changes over time. There is also an activity and event log that highlights influencing factors such as legislative changes or changes to the market.

Data migration is a key part of the tool. You can integrate data from internal sources, such as your CRM or ERP, or bring in data from third parties like government databases or insurance companies.

A1 Tracker doesn’t promote pricing, but you can find out more via the website.

Pricing upon request

8

AuditBoard

Best for creating risk mitigation workflows

AuditBoard is operational risk management software used by 30% of Fortune 500 companies. It aims to help companies navigate an ever-changing risk landscape.

It works by bringing audit management, risk, and compliance into a centralized program. This helps these teams collaborate on risk management, enabling you to create streamlined processes. The workflow builder is an excellent example of this. You can create tasks and assign them to people across all three teams.

Connected systems also enable in-depth reporting. For example, the dashboard highlights the top risks facing your organization and shows how this trend changes over time. Meanwhile, the risk heat map is an easy way to see your organization’s risks and their potential impact. Use this data to make better decisions around risk.

AuditBoard integrates with your organization’s other apps, including Office356, Google Drive, and Slack. You can also use the tool's API to create your own integrations if the one you need doesn’t exist already.

AuditBoard doesn’t advertise pricing, but you can request a demo on the website.

Request a free demo

Pricing upon request

9

Archer

Best for loss event management

Archer is a leading integrated risk management platform. It helps organizations standardize risk management processes which, it says, can enable more informed decision making.

The risk catalog is central to the tool. It enables organizations to record risk factors consistently and gather all this data in a central location. Being consistent with risk assessments provides a more accurate view of how each issue relates to others.

Another helpful feature is loss event management. This catalogs both losses and near misses and helps you assess these events to establish how they occurred and where accountability lies. It creates an automated workflow for these events to ensure you perform them consistently every time.

Archer doesn’t advertise its pricing online. You can contact the company for a quote via the website.

Pricing upon request

10

LogicManager

Best for customer support

LogicManager is dedicated risk management software. It helps businesses manage risk in compliance, new projects, and mergers and acquisitions.

The tool has features that cover all areas of risk management, from identification through mitigation and then reporting. This helps you identify the risks most likely to affect your business and then build strategies to minimize them. Once you’ve created systems, workflows and notifications keep everyone on track, while visual reporting helps you explain results to company leaders.

The tool stands out because it bundles unlimited risk management support with the software. This means you get access to a team of expert consultants who help you protect your business. You can also access training sessions and best practice consulting services. It’s perfect if your team lacks specific expertise or you simply want outside help.

LogicManager doesn’t promote pricing, but you can request a quote via the website.

Request a quote

Pricing upon request

Need Expert Help Selecting The Right Risk Management Software?

We’ve joined up with Crozdesk.com to give all our readers (yes, you!) access to Crozdesk’s software advisors. Just use the form below to share your needs, and they will contact you at no cost or commitment. You will then be matched and connected to a shortlist of vendors that best fit your company, and you can access exclusive software discounts!

The 10 Best Integrated Risk Management Solutions Summary

Tool Free Option Price
1
Deel

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 Visit Website
2
Corporater

Best integrated risk management software for enterprise

Free demo available

Pricing upon request Visit Website
3
RAIDLOG.com

Best for managing risks within projects

30-day free trial

$99/year (special: $57/year) Visit Website
4
Diligent ESG

Best for viewing your organization’s risk profile

Not available

Pricing upon request Visit Website
5
Netwrix Auditor

Best security risk management software for detecting data breaches

20-day free trial

Pricing upon request Visit Website
6
Resolver

Best for tying risk to specific incidents

Not available

Pricing upon request Visit Website
7
A1 Tracker

Best for data integrations

Not available

Pricing upon request Visit Website
8
AuditBoard

Best for creating risk mitigation workflows

Request a free demo

Pricing upon request Visit Website
9
Archer

Best for loss event management

Not available

Pricing upon request Visit Website
10
LogicManager

Best for customer support

Request a quote

Pricing upon request Visit Website

Other Options

Here are a few more integrated risk management tools that didn’t make the top list.

  1. IBM Financial Crimes Insight

    Best risk management software for financial institutions

  2. VelocityEHS Risk Management

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

  3. MetricStream

    Best for intelligently identifying issues

  4. TradeTapp

    Best for profiling subcontractors

  5. Onspring

    Best for viewing the monetary value of risk

  6. Fusion Framework System

    Best IRM software with situational monitoring and risk analysis reporting

  7. Ventiv IRM

    Best for managing asset risk

  8. StandardFusion

    Identify risk and create workflows to minimize it

  9. Camms.Risk

    Easy to use risk management software

  10. Risk Cloud by LogicGate

    Risk management with powerful automation features

Related Read: 10 Best Employee Evaluation Software For Performance Reviews & Recognition

What Is Integrated Risk Management?

Integrated risk management is a way for organizations to identify and manage risk. It involves creating a strategy for identifying, assessing, managing, communicating and preventing potential issues.

An integrated risk management process should consider the entire organization and external factors like suppliers, subcontractors, and partners. Risk management software helps you manage this from within a centralized platform.

Related Read: HR Software: What It Costs And How To Decide What’s Best For Your Company

What Do You Think About This List?

The tools on this list help you understand how vulnerable your company is in different areas and then take steps to protect yourself. 

Because each solution is different, I think there is one suitable for all types of companies. But, I’d like to hear what you think. Drop a comment in the section below to tell us if you have used any of these tools and what the experience was like.

And don’t forget to subscribe to the People Managing People newsletter before you go. We send out exclusive insight from top HR thinkers every week.

For even more help on choosing the best HR software, check these out:

By Tim Reitsma

Tim is the co-founder and General Manager of People Managing People, an online publication focused on building a better world of work. He is experienced with people & culture, leadership, business strategy and operations with a focus on building great teams who are excited about their craft and their organization. With over 15 years of leadership experience, Tim has always been guided by his core values: faith, family, curiosity, and fun. He is a coach, mentor, speaker, advisor, and an active volunteer in his community. Tim loves spending time outdoors with his wife and two kids as well as mountain biking in the north shore mountains.