Top 20 Enterprise Risk Management Solution Companies - 2019

Risk management is one of the most critical aspects of any business in today’s increasingly networked and interdependent market. Failings in this area will potentially lead to irreversible financial and reputational damage. “External factors and security-specific threats are converging to influence the overall security and risk landscape, so leaders in the space must properly prepare to improve resilience and support business objectives,” said Peter Firstbrook, research vice president at Gartner.

The outlines of new opportunities and new challenges for risk management leaders—indeed, all organizational leaders are already visible. As per current market trends, we are witnessing companies and enterprises shifting from investments in threat prevention to threat detection.  Most companies and enterprises are seeking to invest in security operations centers (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. According to Gartner, rather than acquiring data protection products and trying to implement them to suit business needs; risk management 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.

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 alerts 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.

 Cloud computing is not a new trend anymore and is quickly becoming an integral part of any business organization. However, it is becoming increasingly complex for risk management leaders to protect and secure their data. Organizations are seeking to invest in security and governance tools that will build the necessary base to keep up with the rapid pace of cloud and development and innovation. Passwordless authentication is gaining market traction. The technology is being deployed in enterprise applications for consumers and employees in an effort to combat hackers who target passwords to access cloud-based applications.

The market is still wide open for leaders and developers who can provide innovations that help companies reduce risks.        

This edition of Enterprise Risk Management 2019 – CIOReview brings you the Top Enterprise Risk Management Companies of 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.