20 Best Enterprise Risk Management (ERM) Software In 2025
10 Best Enterprise Risk Management Software Providers Shortlist
Here's my pick of the 10 best software from the 20 tools reviewed.
Managing risks and ensuring compliance can be a big challenge for CFOs. You might feel the pressure to keep everything on track while dealing with ever-changing regulations and financial uncertainties. That's where enterprise risk management (ERM) software can be a real help.
In my experience, the right ERM tool can make these tasks less daunting by organizing and analyzing risks efficiently. I've spent time researching and testing various ERM solutions to provide you with an unbiased look at the best options available.
In this article, you'll find detailed reviews of top ERM software, focusing on features, benefits, and how they can fit your team's needs. Let's find the right tool to help you manage risks effectively.
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Best ERM Software Summary
This comparison chart summarizes pricing details for my top enterprise risk management software selections to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 | Best for global employment risk management | Free trial + demo available | From $29/month | Website | |
| 2 | Best for agile risk management | Free demo available | Pricing upon request | Website | |
| 3 | Best for business integrated and holistic risk management | Free demo available | Pricing upon request | Website | |
| 4 | Best for AI-driven risk insights | Free demo available | Pricing upon request | Website | |
| 5 | Best for security and compliance management | Free demo available | Pricing upon request | Website | |
| 6 | Best for automation | Free demo available | Pricing upon request | Website | |
| 7 | Best for automations | Free demo available. | Pricing upon request | Website | |
| 8 | Best for cyber risk management | Free demo available | Pricing upon request | Website | |
| 9 | Best for internal auditing | Free demo available. | Pricing upon request. | Website | |
| 10 | Best for risk assessment | Free demo available. | Pricing upon request | Website |
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Rippling Spend
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.8 -
LiveFlow
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.9 -
Float Financial
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Best Enterprise Risk Management Software Reviews
Below are my detailed summaries of the best ERM software that made it onto my shortlist. My reviews offer a detailed look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Deel is a comprehensive global people platform that simplifies global HR and compliance management for companies looking to expand around the world with speed and ease.
Why I picked Deel: As an enterprise risk management solution, Deel is unique because it focuses on risk management in the context of global employment. It extends beyond worldwide payroll processing to include legal compliance and financial reporting across diverse regulatory environments.
Deel has a comprehensive compliance database that is updated in real-time to ensure companies remain consistent with local labor laws and tax regulations, proactively mitigating risks associated with global employment.
Deel Standout Features and Integrations:
Standout features include localized contract generation, with the help of experts, tailored to meet the specific legal requirements of each country.
Additionally, Deel's payroll management system reduces the financial risks associated with currency fluctuations and cross-border payments.
Integrations include Hibob, Netsuite, Okta, OneLogin, Quickbooks, Ashby, BambooHR, Expensify, Greenhouse, SCIM, Xero, Workday, and Workable. It also has an API for custom integrations.
Pros and cons
Pros:
- Simplifies the process of hiring employees in different countries
- Provides assistance with visas and other related services
- Compliance with local laws
Cons:
- Potential learning curve for new users
- No mobile app
New Product Updates from Deel
Introducing Deel AI Workforce
Deel has launched the AI Workforce, a set of specialized agents designed to handle repetitive HR, payroll, and compliance tasks with speed and accuracy. These AI agents don’t just assist—they execute tasks from start to finish. For more information, visit Deel's official site.
Mitratech's Alyne is an integrated Governance, Risk, and Compliance (GRC) software solution that provides a comprehensive platform for enterprise risk management.
Why I picked Mitratech: The platform provides continuous risk monitoring and management capabilities, featuring a web-enabled and mobile-responsive design, dynamic dashboards and reports, scalable risk assessments, and ready-to-go templates. Mitratech aims to offer a comprehensive view of an organization's risk and compliance profile, enabling users to understand and assess risk, implement compliance requirements, and leverage analytics for informed decision-making.
Overall, Mitratech takes an agile approach to risk management with real-time risk assessments, third-party risk management, and policy management, helping organizations make quick decisions and pivot where needed.
Mitratech Standout Features and Integrations:
Standout features include no-code workflow automation and scalable risk assessments. Both these features allow users to build out workflows without technical expertise while still aligning with growing risk management operations.
The platform also offers thousands of ready-to-go templates mapped to regulations and controls, powerful enterprise integrations, and multi-language capabilities to support global operations.
Integrations include Black Kite, SecurityScorecard, DocuSign, Salesforce, and more.
Pros and cons
Pros:
- No-code workflow automations
- Mappings to relevant laws, regulations, and industry standards
- AI-enabled capabilities for GRC
Cons:
- Integration with other applications may require additional resources
- Learning curve for new users
New Product Updates from Mitratech
Mitratech INSZoom Prepares Platform For H-1B FY-2027 Registration
Mitratech has enabled INSZoom for H-1B FY-2027 pre-registration, allowing case managers to begin preparing beneficiary data before USCIS opens the registration period. For more information, visit Mitratech's official site.
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Corporater offers an integrated business management platform for governance, performance, risk, and compliance (GPRC) solutions. It covers a wide range of risk management capabilities, including third-party risks, project and portfolio risks, IT risks, and operational risk management.
Why I picked Corporater: I chose Corporater for its holistic platform, which seamlessly integrates governance, risk, and compliance (GRC) with performance management. It allows organizations to create a digital twin of their operations, providing real-time insights and data-driven decision-making. The platform offers customizable dashboards, risk assessment and mitigation tools, compliance tracking, and performance analytics. This holistic approach ensures that all aspects of enterprise risk and performance are managed efficiently.
Corporater Standout Features and Integrations:
Standout features include a process engine, data automation, data modeling, AI integration with GRC, performance data, forms and surveys for data collection and validation, and support for EU taxonomies for digital risk libraries.
Additionally, the reporting engine automatically combines data and insights into different reports. Risks can also be quantitatively assessed, and the software supports internal controls for compliance.
Integrations include a wide range of information providers and enterprise systems.
Pros and cons
Pros:
- Comprehensive tools for risk assessment and mitigation
- Customizable dashboards
- Advanced analytics
Cons:
- Lack of automation capabilities
- May come with a learning curve
New Product Updates from Corporater
Corporater and Raynet Enhance GPRC Platform
Corporater has partnered with Raynet to integrate Discovery & Inventory functionalities, enhancing operational resilience and asset intelligence. For more information, visit Corporater's official site.
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SAI360 is an integrated enterprise risk management solution that offers a comprehensive Governance, Risk, and Compliance (GRC) platform. It provides a suite of tools designed to help organizations manage various risks while ensuring compliance with industry standards.
Why I Picked SAI360: I picked SAI360 because of its robust modules that cater to enterprise risk, incident management, and regulatory compliance. These features allow you and your team to address diverse risk types effectively, making it a versatile choice for any organization. Additionally, the platform's emphasis on connecting compliance management, risk management, and policy administration ensures a holistic approach to managing your organization's needs.
SAI360 also leverages analytics and artificial intelligence to enhance decision-making, offering you valuable insights and automation capabilities. With over 20 configurable modules, it caters to various industries, including healthcare and finance, providing tailored solutions that align with your specific requirements. This adaptability and focus on operational resilience make it a noteworthy option for enterprise risk management.
SAI360 Standout Features and Integrations:
Features include workflow automation that streamlines the risk management process by automating repetitive tasks, freeing up your team to focus on more strategic initiatives. The platform also offers comprehensive reporting and analytics tools, giving you the ability to generate detailed reports and gain insights into risk trends. Furthermore, SAI360's adaptability across industries ensures it can meet the unique needs of your organization, whether in healthcare, finance, or technology.
Integrations include Workday, ADP, Salesforce, Microsoft 365, ServiceNow, Oracle, SAP, DocuSign, Amazon Web Services (AWS), LexisNexis, Everbridge, and Compliance.ai.
Pros and cons
Pros:
- Comprehensive integration of governance, risk, and compliance
- Real-time monitoring and decision support
- Adaptable to different industry requirements
Cons:
- Lack of transparency in pricing
- May require significant time and resources for implementation
ManageEngine Log360 is an SIEM solution designed to help organizations manage and mitigate security threats across on-premises, cloud, and hybrid environments.
Why I picked ManageEngine Log360: It integrates SIEM capabilities with advanced threat detection, machine learning-based anomaly detection, and compliance management, providing a thorough and proactive risk management framework. This integration ensures that organizations can effectively monitor and respond to potential risks, enhancing their overall security posture and compliance with industry regulations.
ManageEngine Log360 Standout Features and Integrations:
Standout features include its user and entity behavior analytics (UEBA), which detects unusual behavior patterns that might indicate potential risks. Another critical feature is its forensic analysis capabilities, enabling detailed investigation of security incidents to understand the root cause.
The software also includes incident management, which streamlines the process of tracking and resolving security incidents.
Integrations include Microsoft Active Directory, Office 365, Google Workspace, AWS, Azure, Salesforce, Box, ServiceNow, Jira, Slack, IBM QRadar, Splunk, SolarWinds, Palo Alto Networks, Fortinet, Cisco, and Sophos.
Pros and cons
Pros:
- Compliance with legal regulations
- Comes with numerous pre-configured reports
- Effective in managing and analyzing logs
Cons:
- Requires regular maintenance and updates
- Complex setup and configuration
Hyperproof is a compliance-focused risk management platform with support for firms aligning with multiple compliance frameworks. It encompasses security, risk, and compliance.
Why I picked Hyperproof: I selected Hyperproof because it has substantial automation features that can free up valuable time for teams.
Hyperproof Standout Features and Integrations:
Standout features include automated evidence collection and automated task management to help speed up workflows. It can also test control effectiveness by running automated risk impact assessments.
I also like that Hyperproof has 70+ framework templates to start from and that it helps firms align strategy with recognized frameworks including SOC 2, ISO, and NIST CSF.
Integrations include Slack, ZenDesk, Salesforce, Gusto, and GitHub.
Pros and cons
Pros:
- Collaboration features
- Very easy integrations
- Substantial automation for faster workflows
Cons:
- Lacking in third-party risk management features
Resolver is an ERM tool with an equal focus on risk and controls. Its automated workflows help teams identify organizational risks more effectively.
Why I picked Resolver: I selected Resolver primarily because of its automated workflows for risk management (and auditing) teams. For instance, Resolver automatically transfers data in from different business systems (like your ERP), eliminating manual data entry work. The tool can also be configured to set up automated reminders for workflow due dates and overdue thresholds.
Overall, Resolver helps teams automate different stages of an organization’s risk identification, management, and mitigation processes.
Resolver Standout Features and Integrations:
Standout features include automated workflow management and comprehensive risk registers.
I like how both of these features combine to help teams collaborate and automate as much as possible — Resolver will be particularly helpful for large firms with separate risk management, compliance, and internal auditing teams.
Integrations include custom integrations via core API, Webhook, and Workato.
Pros and cons
Pros:
- Extensive risk mitigation features
- ISO 31000 and COSO ERM compliant
- Great collaboration and automation features
Cons:
- Integrations could be simpler
MetricStream is a GRC (governance, risk, and compliance) software company, and its Cyber GRC platform is an active cyber risk management platform designed to help automate and enhance cyber security, governance, risk, and compliance processes.
Cyber GRC is solely dedicated to helping firms strengthen and protect their digital infrastructure. For general risk management, MetricStream has a separate Business GRC product line.
Why I picked MetricStream Cyber GRC: While most ERM systems incorporate some level of cyber risk management, I selected Cyber GRC because it’s a 100% cyber/IT dedicated risk management platform.
MetricStream Standout Features and Integrations:
Standout features include IT and cyber risk management functionality, following the latest industry standards (NIST/ISO).
Given the focus on cybersecurity, I appreciate that MetricStream uses a closed-loop process of investigation, response strategy, and remediation to help organizations ensure compliance with changing regulatory environments.
I also really like MetricStream’s Cyber Risk Quantification, it lets you quantify your organization’s exposure to cyber risks into an exact dollar amount.
Integrations include security tools, vulnerability scanners, regulatory content providers, and more via MetricStream APIs.
Pros and cons
Pros:
- Flexible integrations via custom APIs
- Digital regulation and reporting compliance support
- Extensive cybersecurity and IT risk mitigation tools
Cons:
- Solely cyber-focused
AuditBoard is a combined risk management, ESG, auditing, and compliance platform with collaboration tools that help unify teams and policies organization-wide.
Why I picked AuditBoard: I selected AuditBoard primarily because of its collaboration features. I like that teams, stakeholders, and even external vendors can coordinate to resolve issues or establish internal policies.
AuditBoard Standout Features and Integrations:
Standout features include automated workflows across risk management, compliance, and auditing teams. RiskOversight can automate the distribution and aggregation of risk assessments, and even automate risk surveys and internal interviews. Risk scoring also implements AI-driven automation by dynamically scoring potential vulnerabilities based on risk likelihood, impact, strength, and existing controls.
Integrations include Slack, Google Drive, Microsoft Office 365, AWS, and Snowflake.
Pros and cons
Pros:
- Automated ESG and auditing workflows
- Facilitates collaboration and communication
- Easy integrations
Cons:
- Some features require add-on services
Archer is an integrated risk management solution for large firms. The breadth and depth of the tool make it well-suited to multinational companies and those in heavily regulated industries.
Why I picked Archer: I selected Archer because it can be successfully deployed in large-scale firms facing complex risk management scenarios.
Archer Standout Features and Integrations:
Standout features include internal risk management and mitigation tools. The common risk language and rating scales help identify and address risks organization-wide.
Archer also integrates workflows and tools for third-party governance, ESG management, operational resilience, IT risk management, and regulatory/corporate compliance management.
I like how Archer can help you analyze the internal control environments of your third-party service providers to make sure your organization isn’t exposed to an unacceptable level of risk.
Integrations include data sourcing via direct data imports, data feeds, and Archer API.
Pros and cons
Pros:
- Customizable
- Vendor and third-party service provider risk assessments
- Includes ESG and IT security tools
Cons:
- Lacking in no-code integrations
Other ERM Software
Here are some additional enterprise risk management software options that didn’t make it onto my shortlist, but are still worth checking out:
- Ventiv
For incident management
- Fusion Risk Management
For business continuity planning
- Oracle Risk Management and Compliance
For Oracle ERP users
- NAVEX One
For employee training
- Riskonnect
For claims management
- Essential ERM
For customization
- StandardFusion
For ease of use
- LogicGate
For third-party risk management
- ProcessMAP
For EHS risk assessment
- TrackMyRisks
Risk management tool for property managers
ERM Software Selection Criteria
When selecting the best ERM software to include in this list, I considered common buyer needs and pain points like risk assessment accuracy and compliance with industry regulations. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Risk identification
- Risk assessment
- Risk monitoring
- Compliance management
- Reporting and analytics
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Customizable dashboards
- Integration with third-party tools
- Scenario analysis
- Automated alerts
- Advanced data visualization
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Ease of navigation
- Learning curve
- Customization options
- Mobile accessibility
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Access to templates
- Webinars and workshops
- Support during migration
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- Availability of live chat
- Email support responsiveness
- Access to a help center
- Availability of phone support
- Community forums
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Features included in base price
- Flexibility of pricing plans
- Cost of add-ons
- Discounts for annual subscriptions
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall satisfaction ratings
- Feedback on customer support
- Usability experiences
- Feature effectiveness
- Value for money feedback
How to Choose ERM Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
|---|---|
| Scalability | Can the software grow with your business? Look for options that support your team size now and in the future. Consider user limits and expansion costs. |
| Integrations | Does it connect with your existing tools? Check if it syncs with your accounting systems, CRM, or other software you use. |
| Customizability | Can you tailor it to your needs? Assess the level of customization available for workflows, dashboards, and reports. |
| Ease of use | Is it user-friendly? Evaluate the learning curve and how quickly your team can adopt it without extensive training. |
| Implementation and onboarding | How long will it take to implement? Consider the time and resources needed for onboarding and data migration. |
| Cost | Does it fit your budget? Look beyond the sticker price to include hidden fees, add-ons, and long-term expenses. |
| Security safeguards | Are your data protected? Ensure the software complies with industry standards and offers encryption and regular updates. |
| Support availability | What support is offered? Look for 24/7 support, availability of live chat, and the quality of documentation and resources. |
What Is ERM Software?
Enterprise risk management (ERM) software is a tool that helps organizations identify, assess, and manage risks. It's typically used by risk managers, compliance officers, and CFOs to improve decision-making and ensure regulatory compliance. Risk identification, risk assessment, and compliance management features help with organizing risks and maintaining compliance. Overall, these tools provide peace of mind by managing potential threats efficiently.
Features
When selecting ERM software, keep an eye out for the following key features:
- Risk identification: Helps you pinpoint potential risks within your organization to address vulnerabilities early.
- Risk assessment: Allows you to evaluate the severity and impact of identified risks to prioritize actions.
- Compliance management: Ensures your organization meets industry regulations and standards to avoid penalties.
- Reporting and analytics: Provides insights through data visualization and reports to support informed decision-making.
- Customizable dashboards: Enable you to tailor the interface to display information most relevant to your needs.
- Scenario analysis: Offers tools to simulate different risk scenarios and their potential effects on your organization.
- Automated alerts: Keep you informed of risk changes or compliance issues with real-time notifications.
- Integration capabilities: Connects with existing tools and systems to streamline processes and data flow.
- User-friendly interface: Ensures ease of use and quick adoption by your team with minimal training.
- Security safeguards: Protects your data through encryption and regular updates to prevent unauthorized access.
Benefits
Implementing ERM software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved risk management: Identifying and assessing risks helps you address potential threats before they become issues.
- Enhanced decision-making: Reporting and analytics provide insights that support informed choices for your organization.
- Regulatory compliance: Compliance management keeps your business aligned with industry standards and regulations.
- Increased efficiency: Automated alerts and integration capabilities help streamline processes and reduce manual workload.
- Customization: Customizable dashboards allow you to focus on the most relevant information for your operations.
- Data security: Security safeguards ensure your sensitive information is protected from unauthorized access.
- User adoption: A user-friendly interface makes it easier for your team to adopt and use the software effectively.
Costs & Pricing
Selecting enterprise risk management software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in ERM software solutions:
Plan Comparison Table for ERM Software
| Plan Type | Average Price | Common Features |
|---|---|---|
| Free Plan | $0 | Basic risk identification, limited reporting, and basic compliance management. |
| Personal Plan | $10-$30/user/month | Risk identification, basic analytics, compliance management, and email support. |
| Business Plan | $50-$100/user/month | Advanced risk assessment, customizable dashboards, integrations, and alerts. |
| Enterprise Plan | $150-$300/user/month | Full feature set, advanced analytics, dedicated support, and enhanced security. |
ERM Software FAQs
Here are some answers to common questions about enterprise risk management software:
What are the types of risks addressed by ERM software?
Theoretically, ERM software can help firms prepare for any potential risk to their business. That said, the most common risk management approaches focus on the following risk factors:
- Strategic risks, which are risks created by (or affected by) business strategy decisions.
- Hazard risks, which are risks that pose significant threat to life, property, or the environment.
- Financial risks, which are risks directly related to a company’s finances.
- Operational risks, which are risks caused by failed business processes or policies.
How do you set up enterprise risk management systems?
Enterprise risk management systems may be deployed on-premise or via cloud-based solutions. On-premise setups may offer more internal control over security infrastructure, but they are typically slower and often more costly to launch.
In any case, ERM systems should be set up with a firm’s standards, compliance requirements, and stated goals in mind.
Can small businesses use ERM software?
Yes, small businesses can use ERM software. While traditionally used by larger organizations, many ERM solutions now offer scalable options suitable for small businesses. These tools help manage risks efficiently, even if your team is small, ensuring you stay ahead of potential challenges without needing a large IT infrastructure.
Is training required to use ERM software?
Yes, some level of training is often required to effectively use ERM software. Many vendors offer training resources like webinars, tutorials, and support documentation. Investing time in training ensures your team understands the software’s capabilities, leading to better risk management and maximizing the tool’s potential.
What’s Next:
If you're in the process of researching ERM software, connect with a SoftwareSelect advisor for free recommendations.
You fill out a form and have a quick chat where they get into the specifics of your needs. Then you'll get a shortlist of software to review. They'll even support you through the entire buying process, including price negotiations.