20 Most Promising Enterprise Risk Management Solution Providers - 2019

Risk management is one of the most critical aspects of any business in today’s increasingly networked and interdependent market. The outlines of new opportunities and new challenges for security and risk management leaders (SRMs)—indeed, all organizational leaders—are already visible.

As per current market trends, companies and enterprises are shifting from investments in threat prevention to threat detection. Due to the increasing complexity of threats, an investment in security operations centers is the need of the hour. That being said, data security governance frameworks will prioritize data security investments.SRM leaders must start to address data security through a data security governance framework (DSGF). The framework will act as a data-centric blueprint that will identify and classify data assets and define data security policies, assisting organizations in selecting technologies to minimize risk.

Predictive analysis for anticipating future threats before they occur, with the help of artificial intelligence and automation is reducing the need for humans to analyze standard security alerts, but sensitive and complex alerts still require human attention. Vendors are starting to offer solutions that are a fusion of products and operational services. Organizations are seeking to invest in security and governance tools that will build the necessary base to keep up with the pace of cloud and development and innovation. The market is still wide open for SRM leaders and developers who can provide innovative solutions that help companies reduce risks.

This edition of CIOReview brings you the “20 Most Promising Enterprise Risk Management Solution Providers - 2019.” This list gives you some of the most prominent organizations in the industry that have excelled with their services and product portfolio in the Enterprise Risk Management Solution space. This list is aimed at bridging the gap between businesses and solution providers that are transforming business processes through their insights and technological prowess.

Top Enterprise Risk Management Companies

Avetta is a supply chain risk-management platform with options of connecting with a commercial marketplace of leading organizations and suppliers. With a perfect mixture of global reach and local expertise, Avetta manages hundreds of international organizations’ supply chain to viable business practices. Right from prequalifying suppliers for reduced risks through supplier audits, insurance monitoring, analytics to systems integration, Avetta does all the heavy lifting allowing the organizations to concentrate resources on other developments. Serving a range of industries like oil and gas, chemical, energy, telecommunications, transport, pharmaceutical and manufacturing, Avetta saves time and ensures efficiency.

CyberVadis is the first scalable solution for managing the full third-party cybersecurity risk assessment process. The company’s platform is based on a methodology that maps to all major international compliance standards, and combines the speed of automation with the accuracy and effectiveness of a team of experts. The company's operational platform includes engaging vendors directly with assessments, validating results with an in-house team of security analysts, and issuing companies a standardized cybersecurity rating that they can share with others, along with a detailed improvement plan for increasing their score and the ability to collaborate with clients and vendors on implementing better practices. CyberVadis was developed by EcoVadis, the world’s most trusted provider of businesses sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. EcoVadis counts industry leaders like Johnson & Johnson, L’Oréal, Nestlé, and Michelin, among the more than 55,000 businesses on its network

Fusion Risk Management Solution with its award-winning software, The Fusion Framework System, helps in preparing, managing, and refining the risk management programs of a company. With a practical approach of understanding that vulnerabilities are endless, but funds to address them aren’t, FusionRM is a matured risk mitigation solution aiming at balancing responsibilities to make the best use of limited funds and resources. It helps in automating processes and enables a secure connection with internal and external resources. Based on Salesforce Lightning Platform, Fusion is imbued with trust and security giving peace-of-mind.

INRY, a Bloomington, MN-based information technology and services provider, offers a solution using a proprietary methodology to assist organizations with tackling risk management using ServiceNow’s Governance, Risk, Compliance, and Security applications.INRY assists organizations with developing an integrated system for Security &Compliance that provides information security and risk managers with real-time insights and visibility to enhance risk response; whether that is related to managing vulnerabilities; or managing information security controls. The uniqueness of their offering lies in the fact that it brings together three major aspects that have never-before been assembled by any vendor in the market. First, the firm is a ServiceNow Gold Partner with over 150 implementations and vast experience across all its applications

Mainline is an IT solution provider working across industries serving nearly 2500 clients with 30 years of experience. Advising the best solutions for business needs with the expertise of over 400 IT professionals, Mainline works from the grass level along with the companies to tailor the business solution for them. Accruing international accreditation by the International Enterprise Architecture Institute (iEAi) speaks for their competence. Offering storage solutions that handle data more efficiently and enterprise computing solutions that boost TCO and increase performance and security, Mainline also performs maintenance at a reduced cost.

Combining economic, social, environmental, geopolitical and operational risks, such as cyber, brand sentiment, severe weather and more, MeasuredRisk connects disparate indicators of risk harvested from a multitude of sources and distils them to give the C-suite clear visibility into business risk; enabling key business decisions to be made. The company is redefining how business leaders see risk by using AI to connect disparate indicators of risk harvested from a multitude of sources

ProcessBolt empowers your process and dramatically simplifies the process for clients, vendors, and service providers. Established in 2017 and based in Minneapolis, Minnesota, US, the company’s AI-based vendor risk management solution comprises risk assessment automation, risk analysis, risk assessment responses automation, and risk assessment workflow features. Its solution enhances the process of enterprise vendor risk management by replacing spreadsheets and emails with AI powered interactive questionnaires, process tracking, notifications, alerting, data driven dashboards, and risk metrics.

For 45 years, Qlarant’s history has been rooted in commitment to quality improvement for organizations –– and quality of life for the people they serve. Qlarant brings together the powerful resources of Delmarva Foundation, Health Integrity, Quality Health Strategies and Quality Health Foundation into a single brand — to help see risks, solve problems and seize opportunities. The organization has a strong commitment to protecting the integrity of national and state health care systems in Medicare, Medicaid, and the private sector. In addition, The Qlarant Foundation issues annual grant awards to various programs that provide programs to underserved communities.

A Veteran owned, global risk services company with deep roots in the United States Military, that combines highly skilled experts and proven protection practices with the latest technology and intelligence to provide a full spectrum of security services across the world. Their flexible, cost-effective solutions help clients make strategic decisions about global travelers, physical assets, safety and security operations so they can operate their business with confidence. SocoSIX Strategies provides customized security solutions for companies and organizations carried out by some of the most experienced, intensely trained professionals in the industry

Tracker Networks is an innovative and growing software solutions and data analytics provider, headquartered in Toronto, Canada and serving clients around the world. The company is recognized for building its clients identification and managing risks and opportunities that affect their strategic objectives, customers, supplier relationships, critical data and more – and to accelerate business strategy, anticipate disruption, improve decision making, save money and protect what matters most.

TruOps is an integrated risk management platform built to drive quick time to value and not get bogged down by over engineered, complex implementations. TruOps is an exceptionally adaptive and simple to use platform created by risk, identity and security professionals. Our vision is to combine risk management with insider and external threat intelligence to give enterprises a holistic view of risk. TruOps leverages intelligence and automation to drive real time actions and enable proactive management of risk to reduce negative impact to any organization

Headquartered in Barbados, in the US; the company specializes in developing and deploying technology for the optimization of customs and border processing. With many years in technology development, bridging the gap between business needs and technical needs is second nature, TTEK promotes a fusion of leading edge products with operational and academic subject matter expertise to help assist nations with modernizing their border processing systems and methodologies. TTEK also creates innovative and disruptive border management technologies using machine learning and predictive analytics -drawing upon artificial intelligence and blockchain methodologies.

A-1 Enterprise

A1 Enterprise risk management software has a unique value proposition in the field. It converts the collected data and analysis into user-friendly workflow steps for better enterprise reporting. Featuring a full-fledged cloud hosting and SaaS model, and CRM software, A1 enterprises helps businesses implement the perfect contract solution software in various fields like healthcare, human resources, profit, nonprofit, and government industries. The solution can both be obtained for a custom requirement from the grass-roots level and compatible with in-house IT solutions.

Access Fintech

Access Fintech is a promising start-up in risk management service targeting banks and buy-side firms. The solution helps in tracking the trade with varying priorities assigned according to the risk. Collating the benefits of in-house technologies and fintech solutions, Access Fintech enables a single-visual display of risks involved by orchestrating the interaction of distribution providers. Providing features like exception sharing, escalation, analytics, machine learning, automated instructions, sandbox, POC, and migration, Access Fintech helps in controlling, scaling, and analyzing business across technology and operations.

AEGIS Energy Risk

AEGIS Energy Risk is a leading fintech solution provider, and their value focused on energy derivatives. Their proprietary FLOW software powers the energy producers, investors, and lenders as they invest, develop, and retrieve capital. With their technologies to leverage information, execution improvement, scene prediction, they provide actionable insights to energy executives. A dedicated team studying global energy markets and infrastructure projects ensures a discernible viewpoint. Tailoring recommendations conforming to the variable requirements of the company like production profiles, and investor objectives, and risk tolerance, AEGIS takes time but stays focused on powering capital deployment and protection through fixed-fee contracts.

Aravo Solutions

Aravo is a leading cloud-based third-party management solutions provider, managing the interests and risks associated with it. Enhancing work progress and streamlining the third-party management programs, Aravo ensures better business outcomes and adapting capability. With abilities to map and support planning, negotiations, monitoring, and issue management, third-party systems can be given a holistic approach. With automation of intake processes, third-party engagements can be managed with a single inventory. The application is proactive and takes a risk-based approach, flagging changes in performance profiles for review. Aravo allows issues management process with full tracking, reporting, and auditability.

ARMCO

ARMCO is a Florida based risk management provider whose product line includes loan quality enterprise software, services, data, and analytics. ACES Audit Technology™, the flagship product, is used at every point of the mortgage cycle and in other liable business transactions. The company is adaptable to the growing challenges in the landscape which has paid off as over 33 percent of the top 150 mortgage lenders choose ARMCO as their risk management software provider. The Intel the company has acquired regarding mortgage risk in the past 25 years has made it the most reliable, fastest, and efficient solution provider to be counted on.

AuditBoard

AuditBoard is a cloud-based risk management system that completely automates workflows, with real-time risk reporting capability. Founded by CAEs of fortune 500 companies with a simple idea that managing internal controls and compliance doesn’t have to be administrative or manual, AuditBoard is tailored for streamlining audits with a fully integrated SOX platform. With a complete suite of control management, operational audit, ERM and workflow management, the program provides a comprehensive audit trail. Hosted on a very secure platform, the security offered is multi-layered, and the data is encrypted with complete control over updates.

Galvanize

Galvanize is a security, risk management, compliance, and audit software building company providing tools to strengthen some of the world’s largest companies through their HighBond software platform. Being the only cloud-based platform to utilize data for uniting the objectives of audit, risk and compliance, HighBond functions end-to-end, streamlining collaboration across organizations. RiskBond to identify enterprise risks, AuditBond to manage entire audit workflow, ACL Robotics to automate critical time intensive processes, Rsam ThirdPartyBond to mitigate risks coming through third party, and Rsam CyberBond for vulnerability detection and normalizing data are a few of the most prized offerings of the company

Sword Group

As a leader in technological and digital transformation, Sword Group has since 2000 acquired a solid reputation in software publishing and in complex IT & business project management. The firm has 2,200+ IT/Digital & Software specialists present over 5 continents to accompany clients in the growth of your organisation in the digital age. Their offer closely support tailored, agile and tried and tested management system. The Group’s performance enables the clients to invest in the R&D projects that contribute to positioning and differentiation on niche markets.