Best Operational Risk Management Software

Operational risk management software identifies, assesses, and addresses operational risks across all departments of a company. This type of software is used to prevent losses that may be caused by different factors such as human behavior, inconsistent processes, or issues related to technology. Companies use operational risk management solutions to define and implement strategies and plans required to streamline the management of operational risks. Compliance officers and managers from all departments of a company use operational risk management tools to share information and collaborate on risk mitigation and avoidance.

Operational risk management software is often implemented as part of enterprise risk management or governance, risk, and compliance projects. This type of software consolidates data from multiple systems such as ERP systems or accounting software. Operational risk management tools can be integrated with other risk management software such as IT risk management software or environmental health and safety software.

To qualify for inclusion in the Operational Risk Management category, a product must:

  • Deliver various methodologies and frameworks for risk management
  • Include standard processes for risk assessment and mitigation
  • Provide workflows to define and assign tasks related to risk management
  • Integrate and align operational risks with business processes
  • Comply with laws and regulations or internal company policies
  • Monitor the performance of the operational risk management activities
  • Analyze operational incidents or losses and their impact on the company
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    RSA Archer, you can manage risks, demonstrate compliance, and automate business processes.

    Oversight Insights On Demand™ is a web-based software solution that automates spending program compliance by comprehensively analyzing expense report, purchase card, and accounts payable transactions to identify fraud, non-compliant purchases, and wasteful spending. Through visibility into the interaction between policy and behavior, Oversight offers opportunities for ongoing improvement, and helps organizations transform how they are managing risks in their spending programs. Key Differentiators include: • Artificial Intelligence Based Analytics • Behavioral analytics for observing patterns and trends • Robust workflow with automated audit, communications, and root-cause tracking

    Quality & Project Management for achieving and maintaining ISO 13485:2016, CE Mark or U.S.QSR (21CFR 820) for 510(K) Compliance Success. qmsWrapper integrates 5 separate software into 1 complete cloud based system, including Project, Risk, Document and Quality Management modules with built-in Team Messaging for the best Collaborative Compliance experience. Quality managers with little experience can easily step into the role and effectively start. Create safer, better, medical devices and get them to market faster.

    The Aruvio Cloud GRC platform systematically improves business continuity management for organizations of any size.

    BLR is a provider of compliance and training solutions in the hr-employment (DOL), compensation, safety (OSHA) and environmental (EPA) areas.

    Compliance 360 enables a comprehensive approach to regulatory compliance, risk and audit management through a common enterprise-wide platform.

    ModelRisk is an Excel add-in that allows the user to include uncertainty in their spreadsheet models.

    Use Financial Reporting Compliance Cloud Service to optimize controls within and outside your financial processes using an integrated solution as part of your Oracle ERP Cloud deployment

    The Succeed Risk Management Center is a secure, comprehensive risk management and occupational safety solution platform designed to improve risk management, loss control and prevention, and OSHA compliance efforts and results.

    Whether you face well-known or emerging risks, you need a robust enterprise risk manager and framework to navigate these management challenges or strategically seize opportunities.

    Managing and identfying risk has never been so simple.

    AC Risk Data Manager was built to meet the specific data requirements on time series data of risk management and new regulation such as FRTB, BCBS 239, Stress Testing and IPV.

    Active Risk Manager (ARM) one of the most audited risk management solutions in the world.

    AgenaRisk uses the latest developments from the field of Bayesian AI and probabilistic reasoning to model complex, risky problems and improve how decisions are made. You can use AgenaRisk to make predictions, perform diagnostics and make decisions by combining data and knowledge about complex causal and other dependencies in the real world. Our clients use AgenaRisk to model operational risk, systems safety & reliability, health risk, cyber-security risk and strategic financial planning.

    Alcea RiskMgr is a management tool for effective risk management.

    Analytica is a risk management software help to make the decision with its influence diagrams and built-in probabilistic analysis.

    APEX Analytix helps companies to recover and prevent overpayments, improve processes, ensure compliant supplier relationships, and optimize working capital.

    AQMetrics provides integrated compliance and risk management software to asset managers, investment managers and broker/dealer companies.

    Azilon Compliance Manager is a regulatory compliance management solution that helps a healthcare organization to manage the compliance documents and analyze compliance progress.

    Covers all aspects of the risk management process, ranging from initial risk identification, through risk assessment and evaluation to risk mitigation.

    An easy-to-use, online compliance management solution that enables organisations of any type and size to regularly assess, save and share evidence of their compliance with and performance against specified standards and regulations. Which translates to less time and effort spent collecting and analysing compliance data , and more time implementing improvements. If your organisation is seeking to improve its compliance performance, while lowering costs at the same time, this is the software solution for you.

    CompliCheck is the compliance software that allows the users to track various statutory compliances related to labour laws

    ComplyScore offers services executed by our qualified & certified in-house experts who employ proven methodologies to effectively address the challenges of assessing and managing third party relationships.

    Enterprise cloud software that gives you complete control, visibility and real time reporting of every detail and aspect of safety and operational risk in your organisation.

    COSHH365 simplifies your risk assessments so you can work fearlessly.

    Cura's Enterprise Risk Management (ERM) software solutions enable organizations to better manage risk and take advantage of opportunities relating to business objectives and goals. Cura provides a powerful and flexible framework for managing risk, allowing organizations to identify, analyze, evaluate and treat both risks and opportunities in order to protect the corporate brand, create value for shareholders, owners, employees, customers and regulators.

    DCDR is the ideal platform for anyone implementing a risk-led security program and looking for an ESRM software tool to support this. DCDR is fast, robust and functional and was originally built with the security risk manager in mind.

    Decision support software for everyday people - Decision Oven

    Complete Risk & Decision Analysis Toolkit for Microsoft Excel & Project

    MANAGE THE RISKS OF YOUR BUSINESS AND CREATE YOUR UNIQUE DOCUMENT WITH EASE. Digirisk allows you very simply to obtain your Unique Document and to realize your legal posting.

    Operational risk management functionality built on an enterprise-wide foundation covering organizational, process, and data management functionality

    Group Learner™ is a suite of ready-to-go eLearning Courses with a complete Enterprise LMS. Aimed at the Manual Workforce, such as manufacturing companies, Group Learner™ is the perfect solution to manage your training activity.

    Investigation & Cases Software is a investigations and case management software gives the full picture to find the links between a investigation and the incidents in track, ensuring proper management of organization's security risks.

    IRIS Intelligence provides award winning software and ancillary services for managing risk in the enterprise.

    iRISKTM is a risk-management platform to identify, quantify and prioritize risks and to formulate risk mitigation strategies over lifecycle (control strategy) for new or existing processes. It is built to ensure that your risk activities drive your Business Processes and are aligned with FDA, EMA GMP-Annex 15 and ICH guidelines.

    Issue Tracking Software helps to capture, track, investigate, report and analyze incidents and near-miss events, and also control operational risks, improve safety performance and sustain learning.

    LogicGate enables enterprises to transform disorganized risk and compliance processes into easy to use applications with an intuitive user interface. The platform enables organizations to configure powerful yet pragmatic agile GRC workflows, logic, and rules to reduce their risk exposure and reduce costs associated with managing large compliance programs.

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    Mapistry is a mapping tool that allows scientists, civil engineers, and city planners to quickly produce elegant maps.

    NARIS GRC is a GRC platformthat connects all GRC components within the organization and enables comprehensive management reports.


    Taking you to the next level of Risk Maturity

    OptiModel will get you on the right path with tools that right-size for your business.

    The Opture ERM Basic Version is a risk management software solution for "software-starters".

    PHAWorks is a specialized tool for conducting PHA studies, such as HAZOP and What If. The software is designed to allow you to start conducting studies straight out of the box.

    A qualitative tool to help you identify, describe and communicate risks. The application is intuitive and easy to use. Users are able to learn to retrieve relevant risks, and add or edit risks with limited instruction. Pims Risk is more than a documentation database for historic risk development; it is a communication portal for risks within a company. It can easily be accessed by those that require access.

    PRC Enterprise Risk Register is a web-based solution which allows for the tracking of risk at the project and portfolio level with an easy to use system and interface.

    PRMS offers a menu of products and services that are tailored to meet the specific needs of mortgage bankers, both large and small. Click on the links below to learn more.

    Pro-evaluate is a SaaS product that proactively ensures that your business stays safe, compliant, mitigates risk and can react immediately and effectively when incidents do occur.

    Quick Risk Matrix is a software for rapid, easy, and accurate design of risk assessment matrices.