10 Best Risk Management Software & Tools In 2025

Are you looking for risk management software to identify threats, assess impact, and protect your organization with confidence?

A good risk management solution can help you centralize risk data, automate assessments, monitor threats in real-time, and simplify reporting.

I’ll cover the 10 best risk management tools that can help you reduce operational and financial risk, save time on manual assessments, and ensure consistent oversight across your business.

TL;DR

SmartSuite offers the best risk management software with its all-in-one risk management capabilities, no-code automation, and ready-to-use compliance templates.
Tools like LogicGate and OneTrust are ideal for organizations that need AI-powered insights, advanced privacy, and third-party risk management.
On the other hand, solutions like ServiceNow GRC and ArcherIRM can help large enterprises unify risk, compliance, and IT operations at scale.

Before we begin, I wanted to go over some of the factors to consider when you’re buying risk management platforms:

What are the factors to consider when evaluating risk management software?

The main factors to consider when buying risk management software include the scope of risks it covers, the level of automation and workflow support, the depth of reporting & analytics, and how well it integrates with your existing tool stack.

Let’s dive deeper into each one of them: ⬇️

#1: How broad and deep should your risk coverage be?

The first question you need to ask yourself is which risk types you need the tool to manage, such as operational, financial, strategic, cyber, third-party, and/or regulatory risks.

If I were you, I’d also think about whether I need industry-specific frameworks (e.g., banking) and the ability to map risks to controls, policies, and regulations.

➡️ If you only need a narrow use case, a focused tool might be cheaper and faster to implement.

#2: What level of automation and workflow orchestration do you require?

The 2nd question to ask yourself is how much of your risk lifecycle you want automated versus manually managed.

This includes risk identification, assessment, control testing, issue remediation, and incident response.

Examples of automations include scheduled assessments, automatic risk scoring, notifications, and task assignments to owners, which speeds up remediation and reduces human error.

#3: How important are reporting, analytics, and risk quantification?

Next up, you want to figure out whether you need simple risk registers or advanced analytics that support trend analysis, heat maps, scenario modelling, and quantified loss exposure.

If I were looking for a risk management solution, I’d look for:

Customizable dashboards for execs, risk owners, and auditors.
Risk scoring methods and the ability to tweak scoring factors or use probabilistic models.
Exportable reports and evidence trails for audits and regulatory reporting.

➡️ Strong analytical capabilities let you move from reactive firefighting to proactive risk reduction and clearer conversations with leadership.

#4: What level of integration, scalability, and usability is required?

Last but not least, your enterprise should consider whether the tool needs to pull data from ERPs, SIEMs, HR systems, vendor portals, or other internal sources and whether it offers secure APIs or prebuilt connectors.

Evaluate scalability (users, data volume), role-based access control, and ease of onboarding (i.e., a powerful tool that no one uses delivers little value).

Finally, I’d also check vendor support, training resources, and the product roadmap to ensure it can grow with my organization.

What are the best risk management tools on the market?

The best risk management solutions on the market include SmartSuite with its all-in-one risk management capabilities, intuitive interface and affordable pricing structure, as well as LogicGate and OneTrust.

Here’s a comprehensive breakdown:

#1: SmartSuite: Best for banks and credit unions looking to launch GRC workflows in days, not months, with no-code automation, dynamic dashboards, and ready-to-use compliance templates.

#2: LogicGate: Best for organizations needing a no-code, highly configurable GRC platform with AI-powered insights to predict risk and automate workflows at scale.

#3: OneTrust: Best for companies prioritizing privacy, data rights, and vendor risk management across global regulations with its shared evidence framework.

#4: MetricStream: Best for highly regulated enterprises needing a unified, scalable GRC platform with deep compliance, audit, and AI-powered risk intelligence.

#5: ServiceNow GRC: Best for organizations already on ServiceNow that want integrated GRC tied to ITSM and operational workflows for continuous monitoring.

#6: StandardFusion: Best for small-to-mid-sized organizations seeking an affordable, easy-to-deploy GRC solution with automated workflows and consolidated frameworks.

#7: Diligent: Best for executive teams and boards needing governance-first risk visibility, secure reporting, and AI-powered insights for decision-making.

#8: SAI360: Best for organizations managing both EHS and enterprise risks, unifying compliance, ethics, and safety management into one customizable platform.

#9: Onspring: Best for teams wanting a flexible, low-code platform to automate risk assessments, audits, and compliance workflows with powerful survey tools.

#10: ArcherIRM: Best for large enterprises needing a mature, configurable IRM platform with global regulatory tracking and advanced scenario modeling.

#1: SmartSuite

SmartSuite offers the best risk management solution on the market for banks and credit unions with our modern, no-code project management platform.

Our GRC software empowers compliance managers and CISOs to automate every risk management process with clarity and control.

💡 We have recently partnered with the Cyber Risk Institute to deliver a CRI profile for U.S. Banks' compliance needs.

Let’s go over the functionality that makes SmartSuite the best choice for compliance teams looking for a comprehensive risk management solution: 👇

All-In-One Risk Management

SmartSuite gives you an integrated, flexible platform to prioritize and mitigate risks, automate repeatable work, and provide the executive visibility needed to run an effective risk management program.

With our no-code, easy-to-use solution, you can automate all risk management processes with a start date next week and not next year.

Here are the use cases that you’ll get with SmartSuite:

Create reports and dynamic dashboards: Build executive-ready views of your organization’s risk posture with powerful charting, metric widgets, and roll-up reports.

You’ll be able to display risk scores, control effectiveness, and incident trends in customizable dashboards for stakeholders across the business.

Collaborate and respond to risks in real-time: Bring stakeholders into threaded conversations directly on issues, incidents, and assessments.

SmartSuite sends instant updates and automations so decision-makers see critical information the moment it’s available.

Automate policy creation, real-time approval, and control assessments: Streamline risk management by building an integrated program on a single platform.
Keep risk and compliance data secure: Define teams, roles, and granular access controls across all GRC practice areas so sensitive compliance data is visible only to the right people.

Integrate with your existing systems: Consolidate GRC data by connecting SmartSuite to ticketing systems, identity providers, procurement platforms, and CMDBs.

Automate for accuracy and efficiency to remove inefficiencies and the chance for human error by automating repeatable workflows.

SmartSuite's no-code automation builder provides you with a visual interface that makes it easy to respond to events and take action.

That means your compliance team can customize your GRC workflows without technical resources.

Monitor, measure and score: Create risk calculations and metrics to evaluate every aspect of risk.

Policy management: Assign owners, manage reviews and revisions, publish policies to the workforce, and link policies to controls, audits, and training for end-to-end traceability.

PSTOS Compliance Tracker: Designed for regulatory compliance and built on SmartSuite.

This solution focuses on data security as the core of compliance frameworks with services such as compliance readiness, virtual CISO, and IT security implementation.

Learn more about it from this webinar that we did on the topic:

Prioritize & Mitigate Risks

With SmartSuite, you and your team can create a centralized risk register to effectively identify potential risks to your organization.

You will be able to properly assess threats and establish risk mitigation strategies inside SmartSuite.

Your team can ensure that the appropriate controls are in place and measure their effectiveness by evaluating risk indicators and displaying results in SmartSuite’s rollup reports and dashboards.

💡 Pro Tip: Teams that use our platform use automation to move tasks through defined workflow stages that comply with their policies and procedures.

We understand how crucial threat management is and the need to respond quickly to incidents.

SmartSuite lets you centralize incident response and threat mitigation by linking incidents to assets and organizational data to offer context during your investigations.

Your compliance team can also set up automation with our no-code automation builder to escalate critical events to make sure that your team is aware of active risks to your organization.

Ready-To-Use Risk Management Templates

We have a few risk management templates for your team can get started with right away, instead of building everything from scratch.

Our general risk management template includes a:

Risk register, where your team can break down the risks, the risk owner, the annual loss expectancy, risk event category, risk type, volatility, and status.

Issue assessments, where you’ll be able to see a comprehensive breakdown of each risk.

Action plans, where you can describe the actions (best practices) to mitigate the risks.

A separate tab for control standards, your findings, exception requests, risk assessment by type, and risk assessment issues.

You can customize our risk management template here.

Alternatively, you can check out and customize our 14 other risk management templates for various use cases, such as contract management, policy management, and incident management.

Pricing

SmartSuite offers a free-forever plan with access to 250+ automation actions, team collaboration, multi-dashboard views, and more.

There are four paid plans with a 14-day free trial (no CC required):

Team: Starts at $12/user per month, including Gantt charts, timeline views, 5000 automation runs, and native time tracking.
Professional: Starts at $30/user per month and adds two-factor authentication, Gmail & Outlook integrations, and unlimited editors.
Enterprise: Starts at $45/user/month and includes access to audit logs, data loss prevention, and 50,000 monthly API calls.
Signature: A custom plan tailored to your needs and team size with no predefined limits.

Pros & Cons

✅ A free-forever plan that includes access to advanced features of the tool for up to 5 solutions.

✅ 15 pre-built GRC templates for various use cases.

✅ Dynamic dashboards and reports that are easy to build and navigate, unlike some alternatives that require you to hire consultants to handle it for you.

✅ Automate risk scoring, compliance tracking, audits, and vendor reviews.

✅ A modern solution with an intuitive user interface.

❌ Fewer native integrations when compared to other platforms in this list.

#2: LogicGate

Best for: Organizations needing a highly configurable, no-code GRC platform to automate risk workflows and scale quickly.

Similar to: SAP GRC, ArcherIRM.

LogicGate excels as risk-management software because its no-code “Risk Cloud” lets teams model and automate risk processes quickly, connecting risk data, issues, and controls across the business.

The platform’s visual workflows and configurable assessments make it easy to operationalize risk decisions and scale governance without heavy IT overhead.

Features

Integrated risk orchestration and workflow automation that routes issues, approvals, and remediations across teams.
Centralized risk repository for visibility across governance, compliance, and third-party risks.
Automated compliance reporting with built-in templates that you can start with, and audit trails.