10 Best Riskonnect Alternatives For GRC In 2025

Are you looking for Riskonnect alternatives to better manage your governance, risk, and compliance workflows?

Riskonnect’s risk management solution helps you understand each risk, how that risk relates to others, and what it means for the decisions you have to make.

However, some users of the software are not satisfied with its long implementation time, expensive pricing, and steep learning curve.

In this article, I’ll cover the 10 best Riskonnect alternatives in 2025 that can help you manage policies, track compliance efforts, and ensure regulatory alignment.

TL;DR

SmartSuite offers the best alternative to Riskonnect with its modern UI, no-code automation, short implementation time, and ready-to-use GRC templates.
Enterprise-grade solutions like MetricStream and IBM OpenPages are best for large organizations looking for AI-powered insights and global regulatory tracking.
On the other hand, tools like LogicGate and AuditBoard can help you automate workflows, unify audit and compliance, and improve team collaboration without the high costs of Riskonnect.

Before we start, I want to go over some of the main reasons why some users from both SMEs and corporations have been looking to switch from Riskonnect: ⤵️

What are some of the reasons why compliance leaders are looking to switch from Riskonnect?

The main reasons why some customers have been looking to switch from Riskonnect include its expensive pricing, the learning curve to customize and set up the platform, and the long implementation time.

But don’t get me wrong, I’m not trying to claim that Riskonnect is a bad platform that you need to run from.

Hundreds of satisfied enterprises appreciate the platform’s AI-powered tools that provide contextual insights, advanced analytics, and intuitive dashboards.

However, some customers have been dissatisfied with the risk management platform for several reasons:

#1: Long implementation time

Starting off with when you’re purchasing the software, the average reported implementation time is about 10 months, which is considerably more than other alternatives on the market.

Apart from the initial implementation, a verified user of the platform notes that requested changes post-implementation can take between 2-3 weeks to be completed.

‘’Requested changes can sometimes take two or three weeks to implement.’’ – G2 Review.

#2: Deep learning curve to the point where it feels overwhelming

Secondly, some customers of the platform are feeling overwhelmed with the platform’s sea of features, especially when starting out with the tool.

That’d also make wider user adoption more difficult in the long run when you have to train each employee how to utilize the software.

‘’The only dislike I would say I have is in the beginning when using the platform, it can be overwhelming because there is access to so much information, but the more I have worked in it, the ability to work it comes a lot more naturally.’’ – G2 Review.

#3: Can get really expensive despite the one-time purchase fee

Even though Riskonnect’s Active Risk Manager software costs a one-time fee, there are additional fees, such as:

Annual licensing fees per named user.
Implementation cost, which Riskonnect claims to cost about $142,000.

That can bring the cost up to $283,000/year, according to Riskonnect themselves, bringing it to a total of $683,000 for the complete solution.

What are the best Riskonnect alternatives for GRC in 2025?

Here are the 10 best Riskonnect alternatives for governance, risk, and compliance that I shortlisted after reviewing 30+ tools:

#1: SmartSuite: Best for banks and credit unions looking to launch GRC workflows in days. Our platform lets you manage policies, audits, risks, and compliance in a unified, customizable platform.

#2: Fusion Risk Management: Best for enterprises looking for a Salesforce‑based risk and resilience management platform.

#3: MetricStream: Best for companies looking for an all-in-one platform to manage risk across the world.

#4: IBM OpenPages: Best for organizations looking for an AI-powered GRC platform that integrates various risk and compliance functions.

#5: SAP GRC: Best for organizations looking for an integrated, automated GRC and cybersecurity across systems.

#6: LogicGate: Best for Enterprises looking for integrated GRC management with real-time risk insights.

#7: AuditBoard: Best for organizations looking to uncover insights, track trends, and support data-driven decisions.

#8: ServiceNow GRC: Best for organizations looking for integrated risk management and compliance automation.

#9: Onspring: Best for enterprises looking to manage governance frameworks (including ISO, NIST & CMMC).

#10: SAI360: Best for enterprises looking to unify risk, compliance, and ethics management into one customizable platform.

#1: SmartSuite

SmartSuite (that’s us) offers the best Riskonnect alternative for risk management teams with our modern, no-code project management platform that helps you simplify complex regulatory requirements.

Perfect for banks and credit unions, our GRC software lets you streamline and automate policy creation, approval, and control assessments, all in one place.

SmartSuite helps you move faster, manage policies smarter, and adapt easily, without having to sign up for multiple training sessions on how to use the platform.

💡 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 teams looking to make the switch from Riskonnect: 👇

All-In-One Risk Management

Tools like Riskonnect make it so that best-in-class GRC software can be accessible only to the biggest of enterprises.

However, I believe that compliance should be simple, automated, and accessible to all financial institutions, regardless of their size.

Our no-code, easy-to-use platform empowers compliance managers and CISOs to automate all GRC processes with ease.

SmartSuite helps you achieve and maintain compliance without the expense and complexity of adapting legacy GRC solutions like Riskonnect to accommodate new compliance requirements.

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

Create reports and dynamic dashboards: You can monitor executive views into your organization's overall risk profile with powerful charting and metrics widgets.

Collaborate and respond to risks in real-time: Instantly engage key stakeholders in a real-time discussion of potential threats or vulnerabilities.

Our tool will also let you get immediate updates when critical information is 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 your teams and manage access to information across all GRC practice areas.

Integrate with your existing systems: Our GRC software lets you integrate with existing systems and data to consolidate and centralize your data.

Automate for accuracy and efficiency: 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: It’s possible to establish a strong foundation from the get-go with streamlined and flexible policy management.

You’ll be able to assign ownership, manage revisions, and ensure your policies consistently align with key business initiatives and regulatory requirements.

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 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.

Pre-Built GRC Templates

Our team has prepared a few GRC templates for compliance teams looking to get started right away, instead of building everything from scratch.

Our general risk management template includes a:

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

How is SmartSuite different from Riskonnect?

Unlike Riskonnect, SmartSuite offers a solution for compliance leaders with:

A modern software with an intuitive interface that does not confuse your team or require training.
An affordable and transparent pricing model with a generous free plan to help you get started.
Automated workflows that can help your team build multi-step automations to trigger actions at the right time.
Best-in-class customer support and account management will help your team with setting up the automation inside the platform.

➡️ SmartSuite is better for agile, mid-market companies or cross-functional teams as it offers flexible templates, no-code automation, and quick deployment, making it ideal for teams that need visibility across risk, compliance, and operations, without heavy IT involvement.

➡️ Riskonnect is better for large enterprises as it excels in complex governance environments, offering robust risk analytics, regulatory change management, and compliance frameworks tailored to heavily regulated industries.

💡 Case Study: Find out how MediaLab transformed operations, minimized risk, and saved $40,000+ per year by cutting software costs.

Pricing

Unlike Riskonnect, SmartSuite offers a free 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 customized plan tailored to your organization’s needs and team size with no predefined limits.

Pros & Cons

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

✅ 15 out-of-the-box 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 do it.

✅ All-in-one document and file management.

✅ You’ll be able to 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: Fusion Risk Management

Best for: Enterprises looking for a Salesforce‑based risk and resilience management platform.

Similar to: MetricStream, SAP GRC.

The Fusion Framework System delivers a proactive, data‑driven approach to operational resilience so you can anticipate, prepare, respond, and learn from any disruption.

Built on Salesforce, the platform is a viable Riskonnect alternative as it brings together insights and personalized toolsets to make your organization more risk‑aware.

Features

A data framework with insights and personalized interfaces that guide teams through anticipation, preparation, response, and learning phases.
Unlock and integrate data from any system quickly using a unified API platform, hundreds of prebuilt Salesforce connectors, and purpose‑built integrations (e.g., emergency notification, CMDB, situational intelligence).
Access proven methodology, accelerators, tools, and training from Fusion’s advisors to achieve your resilience objectives faster.
Flexibly create unique experiences and workflows. You can configure the platform with no code to further customize it.

Standout Feature: Integrated Data Model

What stood out to me about Fusion is that it lets you seamlessly connect daily operations, frontline activities, and boardroom reporting to help you create clarity out of chaos.