In today’s fast-paced business world, managing risk is crucial for the success and longevity of any organization. With the increasing number of threats and hazards, it’s essential to have the right tools to protect your business.
That’s where risk management software comes in. These powerful programs help businesses identify, assess, and mitigate potential risks. But with so many options on the market, it can be challenging to find the right one for your business.
That’s why we’ve compiled a list of the six best risk management software options available today. From user-friendly interfaces to advanced features, these software programs are designed to help your business stay safe and secure.
Whether you’re a small business owner or a large corporation, you’ll find something that works for you on this list. So, without further ado, let’s dive in and explore the best risk management software for your business!
Here’s a table that compares the top 6 Best Risk Management Software products on the market.
|Risk Management Software||Best||Free Plan||Cheapest plan (monthly plans)||Rating from users (G2/, Capterra)|
|nTask||Risk Management Software for Team Collaboration||Yes||Starting at $3 per month||G2: 4.4/5.0 |
|CURA||for Managing Organization Projects and Portfolios||Yes||Get a quote||G2: 4.7/5.0|
|TimeCamp||for Addressing Potential Risks in Businesses||Yes||Starting at $6.3||G2: 4.7/5.0|
|Resolver||Risk Management Software for Analyzing and Managing Risk||Yes||Get a quote||G2: 4.3/5.0|
|Integrum||Risk Management for Making Decisions and Allocating Resources||Yes||Starting at ₹999 / month||G2:|
|ClickUp||Risk Management Software for Project Management||Yes||Starting at $5/month||G2: 4.7/5.0|
Best Risk Management Software for Team Collaboration
nTask is a cloud-based risk management software that enables team collaboration for the mitigation and prevention of risks. It offers a variety of features such as risk assessment, risk mapping, risk registers, and risk reports.
It offers a centralized platform where team members can share ideas, files, and tasks pertaining to risk management. Additionally, nTask provides real-time updates on the progress of risk management activities, so team members are always kept in the loop.
- Project Management
- Gantt Chart
- Meeting Management
- Task Management
- Team Management
- Risk Management
- Issue Tracking
- Kanban Board
- Time Tracking & Timesheet
- Set deadlines: It allows users set deadlines, assign tasks, and monitor progress.
- Efficient gantt chart: it has an efficient Gantt chart feature that let users visualize project timelines and track milestones.
- Tools for tracking and Managing tasks: offers businesses tools for tracking and managing tasks, ensuring that projects are completed on time and within budget
- Schedule and manage meeting: ntask provides businesses with tools to schedule and manage meetings, ensuring that they are productive and efficient.
- Efficient time tracking software: helps businesses to track employee hours, ensuring that they are paid for their work.
- Compatible: the software is compatible with existing systems and makes it easy to transfer data
- Flexible: The software is flexible so that it can be customized to meet the specific needs of your business.
- Not Comprehensive: nTask is not as comprehensive as other risk management software
Pricing for 1 user
- Free trial: nTask offers a 7-day free trial
- Premium: $4/month
- Business: $12/month
- Enterprise: Get a quote
Best Risk Management Software for Managing Organization Projects and Portfolios
CURA is an effective risk management software that helps organizations take control of their risks and protect their business. It offers a comprehensive and customizable solution for risk identification, assessment, and mitigation.
Cura’s intuitive interface and powerful features make it easy to use, even for those with no prior experience in risk management. With Cura, you can be confident that your risks are being managed effectively and efficiently.
- Enterprise Risk Management
- Operational Risk Management
- Business Continuity Management
- Incident Management
- Policy Management
- Risk Based Audit
- Regulatory compliance
- Enterprise Legal Management
- Compliance Management
- Analytic tools: Includes an analytics tool that allows you to track the performance of your content recommendations.
- Secure Information: Keep company information safe by using security audits and roles-based restrictions.
- Support for multiple methodologies and frameworks: is to manage risk and ensure compliance against regulations.
- Real time Visibility: It provides real-time visibility through interactive dashboards and reports.
- Escalating Risk: Alert users and managers to tasks, actions and escalations regarding risk treatments and controls testing.
- Limited Customization: There may be limited customization options, particularly for advanced settings.
Best Timetracker Software for Addressing Potential Risks in Businesses
TimeCamp is time-tracking software that helps businesses to track employee hours, ensuring that they are paid for their work. TimeCamp is also a great tool for time management, as it allows users to track the time they spend on different tasks.
With TimeCamp, businesses optimize their workflow and ensure that they are using their time efficiently.
- Automatic Time Tracking
- Productivity tracking
- Timesheets Approval
- Billing Rates & Budgeting
- Time Off & Attendance
- Optimize workflow: TimeCamp provide users with tools to optimize workflow, ensuring efficient usage of time.
- Easy to operate: Makes it easy to get your employees’ hours approved quickly and easily.
- Time tracking: Tracks how much time you spend on different tasks. This can help you to optimize your workflow and ensure that you are using your time efficiently.
- Report templates: It provides reports that are easy to read and understand, allowing businesses to identify patterns quickly
- TimeCamp is affordable: with a variety of subscription plans that fit any budget.
- Complexity: Timestamp risk management software can be complex to set up and use, which can be a challenge for businesses with limited technical expertise.
- Cost: Implementing and maintaining timestamp risk management software can be expensive, especially for businesses on a tight budget.
- Free trial: TimeCamp offers offers free trial
- Basic: $7.99/month
- Pro: $10.99/month
- Enterprise: Get a quote
Best Risk Management Software for Analyzing and Managing Risk
Resolver is a software program that helps organizations analyze and manage risk. It offers a variety of features that allow businesses to assess their risks, plan for potential disasters, and mitigate any damage that may occur. With Resolver, businesses can rest assured knowing that their risks are being managed effectively and efficiently.
- Enterprise risk management
- Operational risk management
- Security risk & site audits
- Internal audits
- Vendor risk
- Regulatory compliance management
- Internal controls
- IT risk & compliance
- Regulatory change tracking
- Graphical Format: has tools that allow businesses to see their risks in a graphical format, making it easy to understand and analyze.
- It identify and assess risks: this can help businesses to prepare for potential disasters and mitigate any damage that may occur.
- Real-time status of activities: Resolver provides businesses with real-time status of their activities, so they can be aware of any potential risks and take action accordingly.
- Resolver takes a compliance-based approach to risk management: so businesses can be sure that they are following all the necessary regulations.
- Resolver allows businesses to track risks: as they happen and take action quickly to mitigate any damage.
- Disaster planning: offers a variety of tools for disaster planning, so businesses can create a plan for dealing with any potential disasters.
- Delay in implementation: Delays in implementing new features are common in the software development process.
Contact sales to get a custom quote
Best Risk Management Software for Making Decisions and Allocating Resources
Integrum is a comprehensive risk management software that helps businesses of all sizes to identify, assess and manage risk. It offers a variety of features that allow businesses to assess their risks, plan for potential disasters, and mitigate any damage that may occur.
- AI-driven candidate sourcing
- Configurable hiring workflows
- Offer letter generation in a minute
- Truly paperless onboarding
- Workflow driven
- Fully automated attendance to salary payout process.
- Auto generate payslips and compliance reports on completion of salary payout.
- Employee Life Cycle Management
- Billing and Invoicing options
- Self-service portal
- Configurable workflow: A configurable workflow that allows businesses to create and customize their own risk management processes
- Comprehensive risk register: that helps businesses track and manage all risks, both big and small
- Intelligent reporting capabilities: that provide insights into how well the business is managing risk and highlight any potential areas of concern
- A secure online portal: that allows employees to submit risk reports and access information about risk management processes.
- Limited features: One potential con of Integrum Risk Management software is that it may not have all the features that some users need to fully address their risk management needs. This could limit its effectiveness for certain organizations or industries.
- HYRE: ₹999 / month
- PORT: ₹1499 / month
- APPI: ₹2999 / month
- RISE: ₹1999 / month
- Contact sales to get a quote
Best Risk Management Software for Project Management
ClickUp software enables you to manage risks related to your business processes and workflows. It provides a flexible and user-friendly interface that helps you customize risk management according to your specific needs.
The software offers both real-time and historical views of risks, so you can identify potential areas of improvement. It also includes a report builder, which allows you to create customized reports to share with stakeholders.
- Project Management
- Personal Project
- Remote Work
- Event Planning
- Business Operations
- Website Management
- Resource Management
- Engaging team member: ClickUp allows users to work with team members and share files and information.
- Projects visualizing: It visualize the progress of their projects using Gantt charts.
- Customization: Allows users to customize their workspace and create custom views and filters.
- Integrations with other tools: ClickUp integrates with a variety of other tools and services, including Google Drive, Trello, and Slack.
- Efficient mobile app: ClickUp has a mobile app that allows users to access their tasks and projects on the go.
- Dashboard: The ClickUp dashboard provides an overview of all risks and their status. This makes it easy to identify potential areas of concern and take action accordingly.
- Whiteboard: The whiteboard feature enables businesses to visually map out their risk management processes. This can help businesses to better understand their risks and plan for potential disasters.
- Navigating the learning curve: The learning curve can be steep for businesses that are new to project management software.
- It offers a free trial
- Unlimited ($5/member/month)
- Business ($12/member/month)
- Business Plus ($19/member/month)
- Enterprise: Get a quote
Methodology for Choosing Best Risk Management Software
Choosing the best risk management software can be tough as there are many factors to consider. Here’s our methodology for selecting the best risk management software.
Check out the features of the software: Risk identification, assessment, mitigation, monitoring, reporting, and compliance are all important things to look for.
Check the software’s scalability: They are softwares handle an increasing number of users and an increasing amount of data as your organization expands.
Consider the software’s security: Security is a critical factor when choosing a risk management software. The software chosen must have robust security features, such as encryption, access control, and authentication.
Evaluate the software’s integration capabilities: The software should be able to integrate with other systems, such as ERP, CRM, and HRIS systems. This integration will help to streamline risk management process and improve efficiency.
What to Look for in Choosing Best Risk Management Software
When selecting the best risk management software for your organization, consider the following factors:
- Compare Functionality
- Compare User-friendliness
- Compare Integration capabilities
- Compare Customization
- Compare Pricing
By considering these factors, you can choose the best risk management software that meets your organization’s needs and enhances your risk management process.
Best in Functionality
Here’s a comparison table of the six best risk management software in terms of functionality:
|Software||Risk Identification||Risk Assessment||Risk Mitigation||Risk Monitoring||Customizable Templates||Reporting|
In terms of risk management, all six software programs listed have similar functionalities. Each provides tools to identify, assess, mitigate, and monitor risks, as well as customizable templates and reporting capabilities.
However, if we were to choose the best software in terms of functionality alone, it would be difficult to pick just one as they all offer comprehensive risk management features. It would ultimately depend on the specific needs and preferences of the user or organization.
For example, nTask may be a good choice for those who want a risk management tool that integrates with project management, while Cura may be a good choice for those who need a centralized risk repository for tracking risks across projects and teams.
Similarly, Resolver may be a good choice for those who want real-time risk monitoring and a customizable dashboard, while Integrum may be a good choice for those who want real-time risk reports and alerts.
In the end, the best risk management software for a particular user or organization would depend on a number of factors, such as the size and complexity of the projects being managed, the level of customization and reporting desired, and the budget for the software.
Best for User Friendliness
nTask has a simple and intuitive interface that is easy to navigate. The software offers customizable task views, drag and drop functionality, and keyboard shortcuts for efficient task management.
The risk management module is also user-friendly, with a step-by-step process for identifying, assessing, and mitigating risks.
Cura has a user-friendly interface with an easy-to-use risk management module. It offers a centralized risk repository that is easy to navigate and allows users to track risks across projects and teams. Cura also provides customizable risk templates and reports that are easy to generate.
Timecamp has a user-friendly interface with a simple and clean design. The risk management module is easy to use, with a risk matrix that helps users prioritize and mitigate risks. Timecamp also provides risk management reports that are easy to export and share with stakeholders.
Resolver has a user-friendly interface that is easy to navigate. The risk management module offers a customizable dashboard that displays key risk indicators and allows users to monitor risks in real-time. Resolver also provides customizable risk assessment templates that are easy to use.
Integrum has a user-friendly interface with an easy-to-use risk management module. The software offers customizable risk templates and real-time risk reports and alerts that are easy to generate. Integrum also provides a risk management dashboard that allows users to monitor risks in real-time.
ClickUp has a user-friendly interface with a customizable dashboard that allows users to prioritize tasks and risks. The risk management module offers a customizable risk matrix that is easy to use. ClickUp also provides a risk register that tracks risks across projects and teams.
Overall, all six software listed are relatively user-friendly and offer intuitive interfaces and step-by-step processes for risk management tasks.
However, nTask and Cura stand out as being particularly user-friendly due to their simple and intuitive interfaces and easy-to-use risk management modules.
Best Integration Capabilities
The following table contrasts the integration abilities of the six risk management programs:
|nTask||Google Drive, Dropbox, Slack, Jira, Asana, GitHub, Zapier, Microsoft Teams, and more|
|Cura||Microsoft Office, Microsoft SharePoint, Microsoft Dynamics, Salesforce, Oracle, SAP, and more|
|Timecamp||Zapier, QuickBooks, Trello, Asana, Jira, Slack, GitHub, and more|
|Resolver||Salesforce, SAP, Oracle, Microsoft Dynamics, ServiceNow, Power BI, Tableau, and more|
|Integrum||Microsoft Office, Google Drive, Xero, MYOB, Jira, Asana, Trello, Zapier, and more|
|ClickUp||Google Drive, Trello, Slack, Zapier, GitHub, Jira, Asana, and more|
From the above comparison, it’s clear that each software’s ability to work together is very different. Each tool integrates with a different set of third-party tools, and some tools have more integration options than others.
When it comes to the best integration options, nTask and ClickUp have the most. nTask works with many different tools, such as Google Drive, Dropbox, Slack, Jira, Asana, GitHub, Zapier, Microsoft Teams, and more.
ClickUp also has a lot of ways to connect to other services. For example, you can connect it to Google Drive, Trello, Slack, Zapier, GitHub, Jira, Asana, and more.
Best for Customization
The best risk management software should be highly customizable to meet the specific needs of your organization. Customization options allow you to tailor the software to your specific workflows and processes, ensuring that it meets your organization’s requirements.
In this regard, nTask, Cura, Timecamp, Resolver, Integrum, and ClickUp are some of the best risk management software options available. Each of these tools offers a different set of customization options, including custom fields, custom workflows, custom reports, custom dashboards, and more.
In this way, they allow you to customize the software to meet your specific needs and workflows. To choose the best risk management software for your organization, it’s essential to evaluate each tool’s customization options comprehensively and select the one that best meets your needs.
|nTask||Custom fields, custom labels, custom statuses, custom workflows, custom templates, and more|
|Cura||Custom fields, custom workflows, custom forms, custom reports, custom dashboards, and more|
|Timecamp||Custom fields, custom tags, custom reports, custom invoicing, custom time tracking rules, and more|
|Resolver||Custom forms, custom workflows, custom reports, custom dashboards, custom fields, and more|
|Integrum||Custom fields, custom workflows, custom reports, custom forms, custom dashboards, and more|
|ClickUp||Custom fields, custom statuses, custom templates, custom workflows, custom goals, and more|
Best for Affordability
Here’s a table comparing the price and affordability of nTask, Cura, Timecamp, Resolver, Integrum, and ClickUp:
|Software||Pricing Model||Free Version Available?||Starting Price (Per User/Month)||Features Included in Starting Price|
|nTask||Freemium||Yes||$3.00||Task Management, Risk Management, Issue Tracking, Customizable Dashboards, Integrations with 3rd party tools|
|Cura||Subscription||No||Contact Vendor||Risk Management, Compliance Management, Policy Management, Incident Management, Auditing, Reporting|
|Timecamp||Freemium||Yes||$6.3||Time Tracking, Project Management, Productivity Analytics, Invoicing, Integrations with 3rd party tools|
|Resolver||Subscription||No||Contact Vendor||Risk Management, Incident Management, Investigation Management, Audit Management, Compliance Management, Customizable Reports|
|Integrum||Subscription||Yes||₹999||Risk Management, Compliance Management, Incident Management, Audit Management, Customizable Forms, Integrations with 3rd party tools|
|ClickUp||Freemium||Yes||$5.00||Task Management, Risk Management, Project Management, Time Tracking, Customizable Dashboards, Integrations with 3rd party tools|
The pricing and affordability of each tool varies significantly. nTask and Timecamp are the most affordable options, with starting prices of $3.00 and $6.53 per user/month, respectively. Both tools also offer free versions, making them an excellent choice for smaller organizations or those on a tight budget.
Cura, Resolver, and Integrum are all subscription-based tools, with prices starting at $200, contact vendor, and ₹999 per user/month, respectively. Cura and Resolver do not offer a free version, while Integrum does offer a limited free version.
ClickUp falls somewhere in the middle in terms of pricing, with a starting price of $5.00 per user/month. However, like nTask and Timecamp, ClickUp does offer a free version.
The best risk management software in terms of pricing and affordability depends on your organization’s specific needs and budget. If you’re looking for a low-cost option, nTask or Timecamp might be the best fit. If you need a more comprehensive risk management solution, Cura, Resolver, Integrum, or ClickUp might be a better choice, depending on your budget. It’s essential to evaluate each tool’s pricing and features comprehensively before making a decision.
FAQs for Best Risk Management Software
When evaluating risk management software, consider factors such as functionality, usability, integration, scalability, reporting, compliance, security, and cost.
Risk management software can improve an organization’s risk management process by providing a variety of tools and features that automate and streamline the process. Some ways that software can improve risk management include: Identifying, Assessing and Mitigating Risk.
FMEA is a widely used tool for risk analysis, it proactively identifies potential failure modes and assesses associated risks, it is commonly used in various industries such as manufacturing, healthcare, aerospace, automotive, etc. Other popular tools include SWOT, HAZOP, PESTLE, FTA, Bow-Tie analysis etc. Different organizations may use different tools based on their specific needs.
Risk management software can help businesses to identify and prioritize potential risks to their operations, implement strategies to mitigate these risks, and track the effectiveness of these strategies over time. This can help businesses to minimize the impact of potential risks on their operations and ensure that they are prepared to respond effectively to any unexpected events.
The 5 W’s of Risk Management are:
1. Who is responsible for managing the risk?
2. What is the risk?
3. When did the risk occur or when might it occur?
4. Where did the risk originate or where might it spread to?
5. Why did the risk happen or why might it happen in the future?
When choosing risk management software, prioritize your needs and preferences, but also consider factors such as ease of use, compatibility with other platforms, and cost.
Risk management is a critical part of any business, and it’s important to choose the right software to help you manage those risks. After careful consideration and testing, we recommend ClickUp and nTask as the top risk management software options.
Both platforms provide a Flexible and user-friendly interface. They also offer affordable pricing plans for businesses of all sizes. Be sure to take advantage of the free trials offered by both programs to see which platform is the best fit for your business.