Top 10 Enterprise Risk Management Consulting/ Services Companies - 2019

Risk management is one of the most critical aspects of any business in today’s increasingly networked and interdependent market. Failure in this area will potentially lead to irreversible financial and damage to reputation. As per current market trends, companies and enterprises are shifting from investments in threat prevention to threat detection. Most companies and enterprises are seeking to invest in security operations centres (SOC) as the complexity and frequency of security threats increase. The need for security and risk management leaders to build or outsource a SOC cannot be overstated. That being said, in today’s fast-paced business world, data security governance frameworks will prioritize data security investments. 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.

Gaining insights necessary to drive actionable decisions is becoming more imperative than ever for organizations—due to the increasing complexities in business scenarios related to governance, risk and compliance. Enterprise Risk Management augments the health and life of the business. Organizations institutionalize risk management procedures by standardizing the tools, methodology and processes while monitoring project risks at all levels. By leveraging, enterprise risk management solutions—companies can proactively evaluate risks in advance and plan the company’s growth stage. Modern risk management requires more than an analysis of past or current threats; it requires anticipating future threats before they occur. The advancements in artificial intelligence and automation are reducing the need for humans to analyze standard security alerts, but sensitive and complex notifications still require human attention.  We are starting to witness vendors offer solutions that are a fusion of products and operational services—ranging from full management to partial support, aimed at improving administrators; skill level, and reducing the daily workload.

As the cloud becomes the norm, the landscape is moving toward XaaS—everything as a service. This will transform business value chains, as data will be able to flow seamlessly and securely across different platforms and infrastructures. The transition to the modern cloud and hyper-convergence not only will strengthen an enterprise’s focus on security and data privacy, but also improve the transparency of audits, legal and regulatory compliance.

 The market is still wide open for leaders and developers who can provide innovations that help companies reduce risks. In recent years, workforces have become more mobile, and businesses are demanding new strategies to deal with the risks and requirements in terms of security, authentication measures, infrastructure security, data encryption and country-specific regulations. Witnessing this growing challenge and opportunity, risk management solution providers have emerged to offer their powerful tools that are supported by the latest technologies.

 This edition of Enterprise Risk Management 2019 – CIOReview brings you the “10 Most Promising Enterprise Risk Management Service 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 Consulting/ Services Companies

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

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.

OneTrust

OneTrust

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.

Openlink

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

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

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

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

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

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.