Enterprise Risk Management (ERM) software helps organizations identify, assess, and mitigate risks to reduce potential financial, legal, and operational liabilities. ERM software enables businesses to develop, implement, and monitor comprehensive risk management strategies across the entire organization. Often referred to as Governance, Risk, and Compliance (GRC) platforms, these solutions address a broad range of risks, including financial, strategic, hazard, and operational risks. Key features of ERM software include organizing and evaluating risk-related data, tracking incidents across the company, and providing tools to assess risk factors and adjust operations to ensure compliance with policies and regulations. Primarily used by compliance officers, risk analysts, and managers, ERM software helps operational teams safeguard the organization’s integrity and minimize risks like lawsuits, investigations, and accidents. It’s important to distinguish ERM software from cybersecurity software, which focuses specifically on protecting security and privacy and does not address broader organizational risks. While cybersecurity tools are designed to help businesses adhere to security frameworks and pass security audits, ERM platforms take a more holistic approach, integrating with environmental, quality, and safety management software in industries such as manufacturing and retail. ERM systems are typically structured around three core components: governance, risk, and compliance. These components work together to provide critical insights, helping organizations navigate risk and maintain regulatory adherence. Vendors usually package ERM solutions as comprehensive platforms to deliver integrated risk management benefits.

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Sprinto

sprinto.com

Sprinto is a compliance management platform that automates security compliance processes, integrates with cloud services, and supports various regulatory frameworks.

ServiceNow

servicenow.com

ServiceNow is a cloud-based platform that streamlines service management across various industries, enhancing workflows in IT, customer service, and HR.

Hyperproof

hyperproof.app

Hyperproof is a cloud-based compliance operations platform that automates and streamlines compliance management across various frameworks.

AuditBoard

auditboard.com

AuditBoard is an audit management platform that streamlines audit processes, enhances compliance, and improves risk management through a centralized and customizable system.

Scrut Automation

scrut.io

Scrut Automation is a compliance management platform that monitors security controls, streamlines regulatory adherence, and automates compliance tasks for various standards.

Workiva

workiva.com

Workiva is a cloud-based platform for streamlining financial and ESG reporting, compliance, and collaboration across business functions.

C1Risk

c1risk.com

C1Risk is a SaaS platform that helps organizations manage regulatory compliance and risks through risk assessment, compliance monitoring, and strategic planning tools.