10 Most Promising Enterprise Risk Management Consulting/ Services Companies - 2019

In the ever-changing risk management landscape, looking ahead is an essential part of the job description. The outlines of new challenges for security and risk management leaders (SRMs) are already visible. The developments in artificial intelligence (AI) combined with data analytics will detect, predict and prevent risks. Thus, assisting or replacing human-led risk management. Representing an opportunity to detect risks, derive crucial key indicators and take actions in real-time.

As organizations are investing and adopting, IoT and cloud technology for cost-effective connectivity; it is understood that any prevention method can never be foolproof. The best practices focus on detecting risk-patterns and building resilience to contain the impact of risk. The assessment and prioritizing of risks to determine where to invest in is the key. Due to the inability of organizations to eliminate risk through preventive controls—the risk transfer instruments are being used by organizations to protect them from a broader range of risks. The convergence of mobile and social media is intensifying the impact of reputation-risks for organizations and is driving them to foster a risk-intelligent culture, tools, resources, and training to help develop a pro-active brand related crisis management. The use of risk dashboards, visualizations, and scenario analysis is empowering leaders to recognize and take intelligent risk-taking. Lastly, organizations are taking on high-risk innovations as a strategy—ahead of a regulatory framework and as a result, breaking away from traditional industry norms and regulations.

This edition of CIO Review brings you the “10 Most Promising Enterprise Risk Management Service and Consulting Providers - 2019.” This list gives you some of the most prominent organizations in the industry that have excelled with their services portfolio in the enterprise risk management space. This list is aimed at bridging the gap between businesses and consulting/service providers that are transforming business processes through their insights and technological prowess.

Top Enterprise Risk Management Companies

A comprehensive privacy management and marketing compliance technology helping organizations comply with global regulations like GDPR. OneTrust is the largest and most widely used technology platform to operationalize privacy, security and third-party risk management. More than 2,500 customers, both big and small and across 100 countries, use OneTrust to implement their privacy, security and third-party risk programs, automatically generating the specific record keeping needed to demonstrate compliance with the privacy regulations including the EU GDPR, California Consumer Privacy Act (CCPA), Brazil LGPD, and hundreds of the world's privacy laws.

Sargon Solutions provides consulting and Implementation services for Integrated Risk Management (IRM). The focus is on Security Operations (SecOps) and Governance, Risk, and Compliance (GRC) and all the associated use cases such as Policy Management, Compliance Management, Audit Management, Risk Management, and Asset Management. Specialists have extensive experience on the ServiceNow platform. The team has completed hundreds of projects at some of the largest companies in the world across the financial, manufacturing, technology, healthcare, retail, insurance, and telecommunications industries.

ServiceNow believes in the power of technology to reduce the complexity in our jobs and make work, work better for people, by transforming old, manual ways of working into modern digital workflows. Employees and customers get what they need, when they need it—fast, simple, easy. “When Fred Luddy, Founder and Chairman of the Board started ServiceNow in 2004, his vision was to build a cloud-based platform that would enable regular people to route work effectively through the enterprise.

Access Fintech

Organizations choose Access Fintech to control, scale, and analyze their businesses across technology and operations as their service helps firms track the trade lifecycle and get a true sense of prioritized risk, across an increasing number of systems. Access FinTech gathers fintech providers and in-house technology, coordinating the interaction of the distributed providers and creating a single visual display of the risk of financial transactions in a global shareable view, it allows control functions to adjust prioritization based on market condition changes, and managers to oversee and determine bottlenecks and intervention points.

Openlink

As the global leader in trading, treasury and risk management solutions, Openlink delivers transparency that powers and protects world markets. OpenLink Financial provides cross-assets trading, risk, operational, and portfolio management software. The company offers Endur–a back-office solution for trading, risk management, and operations needs serving markets in electricity, natural gas and natural gas liquids, crude oil and refined products, precious and base metals, coal, weather derivatives, emissions, bandwidth, soft commodities, and foreign exchange; and Findur–that provides trading tools, risk management capabilities, and back-office processing solutions for capital market institutions, government organizations, treasuries, insurance companies, and asset managers.

ProcessUnity

ProcessUnity Vendor Cloud is a software-as-a-service (SaaS) application that identifies and remediates risks posed by third-party service providers, combining a powerful vendor services catalog with risk process automation and dynamic reporting, Vendor Cloud streamlines third-party risk activities while capturing key supporting documentation that ensures compliance and fulfills regulatory requirements. It also offers implementation, customer support, training, and professional services. The company was founded in 2003 and is headquartered in Concord, Massachusetts.

Sphera

The largest global provider of Integrated Risk Management software and information services with a focus on Environmental Health & Safety (EHS), Operational Risk and Product Stewardship–Sphera has been consistently recognized as industry leaders by prominent analyst and media properties and their mission is to create a safer, more sustainable and productive world by advancing operational excellence. With Sphera’s proven enterprise software, content and domain expertise, clients can strengthen and improve a number of environment, health and safety risk assessment processes including: Process Hazard Analysis (PHA), the Management of Change (MOC), Job Safety Analysis (JSA), Security & Vulnerability Analysis (SVA), Fault Tree Analysis (FTA), and Bowtie Analysis.

Thomson Reuters

Headquartered in Toronto, Ontario, Thomson Reuters is one of the world’s most reputed suppliers of answers, helping professionals make confident decisions and run better businesses. Our customers operate in complex arenas that move society forward — law, tax, compliance, government, and media – and face increasing complexity as regulation and technology disrupts every industry. Customers of the company operate in complex arenas that move society forward — tax, law, compliance, government, media. In a disruptive digital age, we help professionals reinvent themselves.

Venminder

Established in 2003, in Southern US–Venminder was founded by Dana Bowers, who has been an entrepreneur and leader in the financial industry for more than 30 years. The management has a powerful online software technology that can guide and streamline third party risk management programs through critical processes. The software offers in-app service ordering of document collection and due diligence reviews that can save an organization valuable time, money and resources. Venminder’s suite of outsourced due diligence services have redefined the third party risk management space by providing a cost-effective staff augmentation answer and ability to reduce the workload.

Wolters Kluwer

A global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors help customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer Health, Inc. provides information for professionals and students in medicine, nursing, allied health, and pharmacy sectors.Founded in 1836 and headquartered in the Netherlands, the company serves customers in over 180 countries, maintains operations in over 40 countries and employs 18,600 people worldwide.