Enterprise Risk Management
Centralize how your organization identifies, assesses, and mitigates risk — with real-time visibility, consistent methodologies, and alignment to strategic objectives.
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Product Overview
Operationalize Enterprise Risk Across Your Organization
Enterprise Risk Management (ERM) is a structured approach to identifying, assessing, and managing risk across an organization. SmartSuite’s Enterprise Risk Management software provides a structured, scalable system to manage risk across your entire organization — enabling teams to move from fragmented processes to a formalized, enterprise-wide risk program.
SmartSuite establishes a consistent approach to identifying, assessing, and mitigating risk across business units, ensuring alignment across strategic, operational, financial, and compliance domains. With a centralized system of record, defined scoring methodologies, and governed workflows, organizations can standardize risk management in a way that is repeatable, auditable, and defensible.
The product supports widely adopted frameworks such as COSO ERM, ISO 31000, NIST RMF, and the CRI Profile, while remaining flexible enough to align with internal methodologies and organizational structures.
SmartSuite delivers real-time visibility into enterprise risk exposure, enabling executives and board members to understand risk posture, mitigation progress, and emerging threats. This supports more informed, risk-aware decision-making and strengthens alignment between risk management and strategic objectives.
As part of SmartSuite’s connected GRC architecture, ERM extends beyond a standalone risk register.
Risk exposure is continuously informed by:
- Third-party assessments and vendor risk activities
- Control testing and compliance programs
- Incident management and operational events
- Business continuity and resilience planning
- Issues management and remediation tracking
This ensures that risk is not managed as a static register, but as a connected, continuously evolving system of governance and operations.
The product supports a wide range of enterprise use cases, including:
- Strategic risk management and executive oversight
- Regulatory risk and compliance alignment
- Board-level reporting and risk communication
- Cross-functional risk identification and mitigation
The result is an ERM program that is:
- Structured and defensible for auditors and regulators
- Operational and actionable for risk and compliance teams
- Transparent and meaningful for executives and the board
What is Enterprise Risk Management (ERM)?
Enterprise Risk Management (ERM) is a structured approach to identifying, assessing, and managing risks across an organization. It enables organizations to align risk with strategic objectives, maintain visibility into enterprise risk exposure, and improve decision-making across business units and functions.
Core Capabilities
SmartSuite’s Enterprise Risk Management product provides the core capabilities required to manage enterprise risk at scale — combining structured data, automation, and real-time reporting in a single connected platform. Each capability works seamlessly with other SmartSuite products, ensuring traceability from risk identification through mitigation and reporting.
Centralized Risk Register
Maintain a single source of truth for enterprise risks with configurable fields, attachments, and complete audit history across all business units.
Risk Assessment Models
Apply consistent qualitative and quantitative scoring aligned with COSO ERM, ISO 31000, NIST RMF, and CRI Profile frameworks.
Risk Mitigation Tracking
Define mitigation plans, assign owners, and track progress with automated reminders, escalations, and workflow-driven accountability.
Key Risk Indicators (KRIs)
Monitor thresholds and trigger alerts automatically to proactively identify and respond to emerging risk conditions.
Connected Risk Relationships
Link risks to controls, incidents, audit findings, and third-party assessments for complete lifecycle traceability and context.
Dashboards & Risk Analytics
Visualize exposure, trends, and concentrations through real-time dashboards, heatmaps, and executive-ready reporting views.
Workflow Automation
Automate assessments, approvals, reviews, and escalations using no-code workflows to improve efficiency and consistency.
Framework Configuration
Align risk categories, scoring logic, and templates with internal methodologies or regulatory frameworks without requiring development.
Role-Based Access Control
Ensure secure access with granular permissions by role, department, or business unit to protect sensitive risk data.
The Enterprise Risk Lifecycle
SmartSuite supports the full enterprise risk lifecycle — from identification through reporting — with connected workflows, automation, and real-time data.
Each stage is configurable to align with your organization’s methodology and industry frameworks.
Identify Risks
Capture risks through structured intake forms, integrations, or linked workflows across departments and systems.
Assess & Prioritize
Evaluate likelihood, impact, and velocity using standardized scoring models to prioritize focus and resources.
Mitigate & Assign Actions
Define mitigation strategies, assign owners, and track execution through automated workflows and approvals.
Monitor & Review
Track KRIs, update risk scores, and continuously evaluate exposure as business conditions change.
Report & Communicate
Deliver dashboards and audit-ready reports to executives, auditors, and regulators with full visibility into risk posture.
Connected Risk Ecosystem
SmartSuite products work together as part of a unified Governance, Risk & Compliance (GRC) platform — ensuring that risk data is continuously shared, updated, and contextualized across your organization. The Enterprise Risk Management product integrates seamlessly with related products to provide a complete, connected view of risk.
Centralize controls and map them across frameworks to reduce duplication, improve alignment, and enable a test-once, comply-many approach.
Standardize vendor due diligence, centralize assessments, and monitor ongoing risk exposure to ensure supplier reliability and compliance.
Define critical services, map dependencies, and validate recovery strategies to ensure business continuity, regulatory alignment, and organizational resilience.
Track and remediate issues across audits, risk, and compliance with structured workflows, clear ownership, and real-time visibility into resolution status.
Who This Product Is For
The Enterprise Risk Management product supports stakeholders across governance, risk, and business operations — providing role-based access to relevant data, workflows, and insights.
Frequently Asked Questions
Answers to common questions about SmartSuite’s pricing models, plan options, and onboarding programs.
Enterprise Risk Management (ERM) is a structured approach to identifying, assessing, and managing risks across an organization. It provides a comprehensive view of risk exposure, enabling leadership to make informed decisions and align risk with strategy. Without ERM, organizations often manage risks in silos, leading to gaps in visibility and inconsistent practices. SmartSuite enables organizations to centralize risk data, standardize assessment methodologies, and track mitigation activities within a single system. By connecting risk data to operational workflows and business context, teams gain a real-time understanding of risk exposure. The result is improved decision-making, stronger governance, and a more resilient organization.
SmartSuite provides configurable frameworks for identifying and assessing risks using both qualitative and quantitative models. Teams can define consistent scoring methodologies, categories, and evaluation criteria across the organization. This ensures that all risks are assessed using the same standards, improving comparability and reliability. SmartSuite also enables structured workflows for risk identification, review, and approval. By standardizing the process, organizations reduce subjectivity and improve consistency. The result is a more disciplined and reliable approach to risk assessment.
SmartSuite links risks directly to assets, processes, business units, and systems, providing full context for each risk. This ensures that risks are not abstract but tied to real operational elements. Teams can understand how risks impact specific parts of the organization and prioritize accordingly. Integration with workflows such as incidents, controls, and issues ensures that risk data is continuously updated. This creates a dynamic, real-time view of risk exposure. The result is more accurate prioritization and better-informed decision-making.
SmartSuite enables organizations to define mitigation plans, assign ownership, and track progress through structured workflows. Each risk can be linked to specific actions, deadlines, and responsible parties. Automated notifications and tracking ensure accountability and visibility into progress. By connecting mitigation activities to issues and controls, SmartSuite ensures that responses are coordinated and effective. This reduces the likelihood of risks being overlooked or unresolved. The result is a more proactive and controlled risk management process.
SmartSuite offers real-time dashboards that aggregate risk data across the organization. These dashboards provide insights into risk levels, trends, and emerging issues. Leadership can view risk exposure by category, business unit, or impact level. By connecting data across workflows, SmartSuite ensures that insights are accurate and up to date. This eliminates the need for manual reporting and improves transparency. The result is better visibility and more effective oversight.
SmartSuite connects risks to controls, compliance requirements, and regulatory frameworks. This ensures that risk management is aligned with governance and compliance activities. Teams can track how controls mitigate specific risks and identify gaps. Integration with control testing and assessments provides continuous validation. This creates a unified approach to risk and compliance. The result is stronger governance and reduced regulatory risk.
Yes. SmartSuite is designed to support enterprise-scale ERM programs with multiple teams, regions, and business units. It provides flexible data models, role-based access, and scalable workflows to ensure consistency across the organization. Centralized data ensures that all stakeholders have access to the same information. This enables coordination and alignment at scale. The result is a scalable and effective ERM program.
SmartSuite improves decision-making by providing real-time, connected risk data that reflects the current state of the organization. Leaders can evaluate risks, assess trade-offs, and prioritize actions based on accurate information. By integrating risk with operational workflows, SmartSuite ensures that decisions are grounded in reality. Over time, this leads to improved resilience and the ability to respond to change effectively. The result is a more agile and risk-aware organization..
Yes. SmartSuite supports multiple teams and large product organizations. It provides centralized visibility and scalable workflows. The result is an enterprise-ready solution.
Connect Risk to Every Part of Your Business
SmartSuite delivers a complete GRC suite that unifies risk, compliance, and operational workflows in one connected platform.