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Risk Management Software: Enterprise Solutions for Risk Reduction

Every company manages risk. It’s intuitive and automatic. In fact, it’s a natural part of making even the simplest business decision. But at an enterprise level, an unstructured approach to risk management is—well, risky. Risk management software provides a better alternative. It does so by helping you systematically recognize and address business threats, so negative outcomes can be minimized and avoided.

Overwhelmed? We’ll help you find your ideal software solution, absolutely free!

Find out why thousands of businesses trust Find Accounting Software to help narrow down thousands of options to a managable list of top recommendations. There’s no pressure, no obligation, and no cost. Sound good? Let’s get started!

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter

Risky business: Who needs it?

When you purchase a risk management software package, what you are really acquiring is a system of coordination and optimization for reducing the chance of harm to your organization’s earnings potential. Fundamentally, this begins with identifying and categorizing risk. As transparency of the risk profile improves, so to does the effectiveness of treating risk. A complete risk management software suite not only provides the tools to plan for risk, but those needed to manage risk incident responses.

Corporate risk arises in many forms. Every company’s risk profile differs. Getting a grip on risk requires flexibility in accounting for risk attributes. Strong enterprise risk management software should track risk characteristics across a number of dimensions, such as:

  • Type: security, quality, compliance, competition, and others.
  • Origin: employees, customers, vendors, and business partners.
  • Ownership: department, location, and responsible stakeholder.

Identifying the benefits of risk management software

With improved risk management, organizations can directly lower operational overhead. The right approach to managing risk can help your company:

  • Avoid lawsuits, fines, and penalties via regulatory compliance,
  • Reduce insurance requirements by demonstrating adherence to risk reduction standards,
  • Eliminate inefficiencies in internal processes, and
  • Improve credit ratings.

Similarly, risk management software promotes profitability by improving customer satisfaction and retention:

  • Decrease instances of sub-standard service, sales, and support by identifying and addressing threats to each.
  • Plan for delivery of service interruptions.
  • Identify competitive conditions that may lead to reduced market appetite for goods and services.

Tools for all phases of the risk management life-cycle

Breaking down the risk management life-cycle provides a basis to understand what’s available in the software tools and how they can differ from each other.

  • Risk identification. In order to treat risk, it must be identified. Risk management platforms offer a variety of tools designed to help with risk capture. Common tools include brainstorming tools like concept maps, interview, survey, and polling applications, as well as process modeling and story-boarding interfaces. Risk identification software is not limited to user-generated risk identification tools, though. Pre-created taxonomies and risk registers that offer libraries of selectable risks are becoming increasingly more popular. Risk registers can provide assistance in more quickly tracking risks to a more granular level.
  • Risk assessment and assignment. Analyzing and assessing risk is essentially a matter of identifying of probability and impact. Probability is generally expressed as a percentage chance of an event occurring, while the optimum approach of assessing impact relies on assigning a quantifiable dollar-based cost to an event occurring. Access to historical information about impact calculations, as well as access to the underlying financial data maintained in core ERP system. or accounting modules can help create accurate quantification of risk impacts. Robust reporting tools are essential to risk assessment. Risk assignment typically coincides with the assessment phase and risk management tools need to include communication tools to effectively relate risk assignments to responsible owners.
  • Risk prioritization. Reporting and dashboard tools for displaying risk prioritizations provide a means of ranking risks, allowing your company to address the most significant risks first. Visualization tools can be particularly beneficial in managing risk prioritization. Risk based heat maps and magic quadrant type displays for displaying risk prioritizations are common tools.
  • Risk response planning. There are four fundamental approaches to managing risk: avoid, prevent, mitigate, and transfer. Risk response planning tools allow for the identification of risk treatment strategies. Detailed risk response planning often requires developing more in-depth processes and procedures. Document management functionality can come into play in terms of databasing risk response strategies and providing a means of communicating risk response plans. Sophisticated programs can also support and track approvals and authorizations of specific risk response strategies.
  • Risk treatment and incident management. No risk management software is complete without capabilities to coordinate the business actions taken to either avoid or prevent risks or to address them when they occur. Risk treatment and incident management tools can involve scheduling functionality, communication tools, and tracking software for identifying where in the treatment process risk incidents are and the results of the actions taken.

Taking the next steps

Risk management software offers an opportunity for organizations to improve both the transparency and accountability related to risk identification and the effectiveness of mitigating negative outcomes. But the variety of risk management options on the market can be daunting for companies looking to understand which option is the most relevant.

If you are at the point where you are ready to find which risk management software options are right for you, we can help. Through a brief phone call, our software specialists will look to better understand your business and software needs to help you locate a handful of solutions suited for your specific requirements. Get started today!

Popular Risk Management Software Products

Looking for great risk management software options? Below you can check out a list of the products most commonly considered by others searching for risk management software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

Which software is right for you? Get quick and accurate recommendations.

What if you could simply tell someone about your software needs and they’d find your best choices? Look no further. We’ll listen to your needs and find your top software matches. That’s it. There’s no pressure, no cost.

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter
  • Risk Manager by DSSbiz

    RISK MANAGER is a system which has been developed specifically for use in risk management. It takes the enterprise through each stage, starting with risk identification, proceeding to the damage portfolio and resulting in the finished risk manual....

  • CorRisk by Rocket Software

    When increasing regulatory pressures like Sarbanes-Oxley, Basel III, and other governance obligations have you searching for a way to better manage risk, look no further than CorRisk. Risk management activities throughout the organization are...

  • Xactium GRC Cloud by Xactium

    Easy to use, collaborative and highly customizable web-based applications for managing your critical Governance, Risk and Compliance activities. Xactium's Governance, Risk and Compliance (GRC) solutions are being used by global companies to...

  • SAP Business All‑in‑One by SAP

    SAP Business All-in-One solutions are designed for midsize companies while the SAP Business One product line is designed for small businesses. SAP Business All-in-One solutions are built on the SAP ERP application - world-class,...

  • SAS Financial Intelligence by SAS Institute

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  • iRely Trading & Risk Management by iRely

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  • Work Engine by EPM Live

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  • Pentana Risk and Audit Solutions (PAWS) by Pentana

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  • Infor d/EPM (Dynamic Enterprise Performance Management) by Infor

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  • Intacct by Intacct

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  • Sage 300 Construction and Real Estate by Sage

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  • Sage 100 Contractor by Sage

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  • Deltek Vision by Deltek

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  • Spitfire Project Management System by Spitfire Management, LLC.

    In one fully integrated system, you get browser-based construction project management with full collaboration capabilities, plus complete project cost accounting and integrated financial accounting (with Acumatica Cloud ERP or Microsoft Dynamics SL)...

  • ArchAdministrator by PS Software Solutions, LLC.

    Designed by architects and specifically for Architectural and Engineering (A/E) firms, ArchAdministrator has harnessed the power of the multi-layered relational database to simplify the task of recording, organizing, and analyzing the wide variety...

  • InFocus by Clearview Software

    InFocus is a all encompassing financial management solution that is functional in the following areas of your business: * Accounting * Billing * Project Management * Project Reporting * Project Forecasting & Planning * Resource...

  • Infor CloudSuite Business by Infor

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  • Spectrum Construction Management Software by Dexter + Chaney

    Version 14 is the most innovative new version of software in Dexter + Chaney’s 30+ year history. With v14, Spectrum enters the cloud. But we’ve done much more than simply move our existing software to a hosted environment. We’ve completely...

  • Acumatica ERP by Acumatica

    Acumatica Cloud ERP provides all of the features of traditional accounting, financial, and ERP software, but is web-based so it is less expensive to maintain, centrally managed, and accessible from anywhere. Customers can purchase a license and...

  • NetSuite by NetSuite

    NetSuite enables companies to manage all key business operations in a single, integrated system, which includes customer relationship management; order management and fulfillment; inventory management; finance; ecommerce and Web site management; and...

  • Project Insight by Metafuse

    Project Insight, by Metafuse, Inc., is the leading mid-market enterprise project management solution that bridges experienced project managers with team members that need an 'easy to use' project solution. Project Insight is 100% web-based and...

  • Dynamics NAV by Microsoft

    Microsoft Dynamics NAV delivers industry-specific functionality along with multi-language and multi-site capabilities. Its integrated development environment enables customizations with minimal disruption to business processes. Designed to work like...

  • Dynamics GP by Microsoft

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    • Financial management and accounting
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    • Business ByDesign by SAP

      The SAP Business ByDesign cloud-based solution (formerly referred to as code name A1S) is a new addition to the SAP offerings for small businesses and midsize companies. It is targeted to the unmet needs of these enterprises, which have...

    • Adagio Accounting Suite by Softrak Systems

      Adagio Accounting is a multi-ledger, modular accounting system that provides best-in-class audit controls and financial reporting capabilities. It is designed for small and mid-sized businesses that process significant volumes of transactions –...

    • Dynamics SL by Microsoft

      Microsoft Dynamics SL (formerly Microsoft Business Solutions—Solomon) is designed to meet the specific business management needs of project, service, and distribution-driven organizations, including companies in these industries: *...

    • Bluegrass Software Solutions by Bluegrass Technology

      A full accounting software system designed by Bluegrass Technology, Inc. Scalable software ideal for small to large contractors. Affordable packages for startup businesses. The best integrated Service, Dispatch and Construction software...

    • Denali Business+Accounting by Cougar Mountain Software

      Everything you expect from a leading business accounting solution, plus the tools to manage cash flow, monitor profitability, analyze trends, track inventory, and make informed financial decisions based on real-time accounting data. Let us show you...

    • ProContractor by Viewpoint® by Viewpoint Construction Software

      ProContractor by Viewpoint® is an all-in-one cloud software solution that helps small to mid-sized contractors handle the complexities of the entire project lifecycle. With an all-in-one solution, you have end-to-end control and seamless...

    • SAP Business One by SAP

      SAP Business One provides a single, affordable solution for managing your entire business, including financials, sales, customer relationships and operations. Streamline your end-to-end operations, gain instant access to complete information and...

    • Budgetrac Real Estate Developer Software by Budgetrac Systems

      Budgetrac is a complete integrated project costing and financial system designed specifically real estate developers and homebuilders. It combines a strong back office accounting solution with a comprehensive project control, powerful property...

    • Corecon V7 by Corecon Technologies

      Corecon’s flagship product, Corecon v7, is a powerful and user-friendly web-based suite of software that offers a complete solution for managing project information, from preconstruction though project closeout. Utilizing the latest web...

    • The Plus Series by Contractors Software Group

      A fully integrated but modular solution for small to medium sized builders and contractors. It consists of fully integrated lead tracking, follow-up marketing, contract management, customer service, estimating, proposal writing, document creation,...

    • Norming Professional Service Automation System by Norming Software International

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    • ajeraComplete by Axium

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    • eSUB Project Management by eSUB Inc.

      eSUB Project Management establishes and standardizes a documentation system for specialty and general contractors based on industry best practices. Create, store and access all your construction documents and project management activities from one...

    • Multiview Financial Suite by Multiview

      For organizations seeking a solution that easily conforms to their existing operations, Multiview Enterprise .NET n10 offers a flexible, integrated suite of financial solutions. With Multiview Enterprise .NET n10, companies gain superior visibility...

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    • TRAVERSE by Open Systems

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    • Beyond Software by Beyond Software

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    • VersAccounts Cloud ERP by VersAccounts

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    • Oracle ERP Cloud by Oracle

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    • Sage ERP X3 by Sage

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    • Bizowie ERP by Bizowie

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    • Isah Business Software by Isah Business Software

      A passion for the manufacturing industry. Isah Business Software is an international software company that develops, sells, implements and maintains business software in all sectors of the make to order manufacturing industry. Based on...

    • AccuFund Accounting Suite by AccuFund

      Accounting software for non-profits, municipalities and other government agencies is the specialty of AccuFund. The AccuFund Accounting Suite is powerful, flexible and affordable financial reporting and accounting software designed specifically for...

Your Risk Management Software Recommendations

Ready to find out which software solutions are best suited for your needs? Great! Understanding that you’re motivated to find risk management software gives us a great start. We’ve helped companies of all shapes and sizes meet their risk management software needs. With a bit more information about your unique requirements, we’ll narrow down to your top options. Let’s get started!

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