- Free Version: Available for teams of up to 10
- Pricing: Premium plan $24/seat/month (with free 30-day trial period)
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use SafetyCulture?
An award-winning platform trusted by renowned enterprises worldwide, SafetyCulture offers one of the best BIA or business impact analysis software that helps companies adapt to, recover from, and minimize risks and their negative effects. While it’s known for its customizable templates, the platform has a full-featured suite that streamlines risk-related planning to ensure business continuity. Its flexibility and integration capabilities make this the best solution for organizations of different sizes, across industries.
Features:
- Ensure consistency and accuracy by automating BIA workflows, such as scheduling and assigning inspections, risk assessments, and monitoring.
- Cover all critical parts (e.g., financial, operational, reputational, etc.) comprehensively and efficiently with pre-built BIA checklists.
- Gain a unified view of organizational risks and impacts by seamlessly connecting Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and risk management systems with the platform.
- Facilitate proactive continuity and disaster recovery planning by generating detailed reports and carefully analyzing them for risks and potential impacts.
- Strengthen resilience by incorporating long-term continuity plans into the day-to-day incident management to prevent disruptions and uphold GRC goals.
Why Use Fusion Risk Management?
A comprehensive risk management platform tailored to ensure business continuity, Fusion Risk Management offers dependency mapping, scenario modeling, and other advanced analytics capabilities to identify critical functions that are at risk, determine recovery objectives, and create targeted plans to improve resilience.
Features:
- Business impact and risk assessments
- Dependency mapping
- Dynamic response and recovery
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a web-based software
Why Use LogicManager?
With a focus on Governance, Risk, and Compliance (GRC), LogicManager has a wide array of tools that are adaptable to conducting comprehensive business impact analysis. Its centralized framework enables organizations to assess the impact of risk on key business functions across departments and operational regions.
Features:
- Risk ripple and reference
- Business continuity and disaster recovery planning
- Automated testing
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a web-based software
Why Use Archer?
An integrated risk management platform designed for GRC and business continuity, Archer has flexible modules for evaluating financial, reputational, and operational impacts. With comprehensive frameworks for continuity planning, organizations can ascertain their recovery efforts are aligned with strategic goals.
Features:
- Pre-configured BIA workflows
- Business process catalogs
- Consolidated record system
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Quantivate?
An integrated platform that combines business continuity, risk management, and compliance, Quantivate has tools like pre-built templates, dependency tracking, and detailed BIA reporting, It offers scalable and customizable modules for companies of varying sizes with different budgets.
Features:
- Integrated GRC view
- Strategic decision-making with data integrations
- Report builder
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Riskonnect?
An integrated risk management software, Riskonnect aims to unify strategic goals, critical operational threats, and compliance. By providing a holistic view of the enterprise risks, companies can proactively identify issues, assess their impacts, and develop recovery plans.
Features:
- Threat intelligence
- Live situation reporting
- Real-time response activation
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Resilinc?
Primarily a supply chain risk management platform, Resilinc is one of the best solutions for conducting business impact analysis for companies involved in supply chain activities. It evaluates disruptions and dependencies with real-time monitoring and scenario modeling to plan mitigation strategies effectively.
Features:
- Predictive analytics
- Multi-tier mapping
- Supplier collaboration tools
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
What is Business Impact Analysis Software?
Business impact analysis (BIA) software is a highly specialized tool that helps organizations understand the potential consequences of events that may disrupt their operations, such as organizational changes, equipment failures, natural disasters, and cyberattacks. Its capabilities help identify the company’s vulnerabilities, map out dependencies, and plan for response and recovery efforts for business continuity.
Benefits
BIA became a critical process to minimize organizational disruptions while confronted by environmental calamities, economic downturns, geopolitical tensions, corporate risks, and reputational damage. Digital business impact analysis tools streamline this complex and challenging process, particularly in comprehensive data collection, stakeholder engagement, and strategic alignment. Here are its specific benefits:
- Accurate impact assessment – Apart from gathering real-time and reliable data through digital templates, the software has advanced analytics that facilitates risk scoring, process mapping, and scenario modeling.
- Better prioritization for resource allocation – Thorough BIA and subsequent mitigation efforts require significant effort, time, and manpower. The platform can rank the risks accurately, allowing GRC officers to focus on the most critical threats and dedicate adequate funding.
- Efficient action planning – With detailed reports that outline risks and their impacts, relevant personnel can design the most appropriate mitigation strategies and contingency plans.
- Guaranteed regulatory compliance – Companies that can thoroughly assess risks, handle issues, and maintain business continuity can also assure adherence to industry standards and best practices.
- Strengthened resilience – Proactively identifying risks and impacts helps develop robust contingency plans, improving the company’s ability to act fast and adapt when needed.
Key Features
It’s critical to consider the features that support comprehensive and effective analysis. Look for the following key features when selecting business impact analysis software:
- Customizable checklists for risk-related workflows
- Impact assessment workflow automation
- Real-time monitoring with automated alerts
- Incident management (e.g., recovery strategy planning)
- Collaborative tools
- Reporting with audit trails
- Data analytics
- Integration capabilities
- Mobile accessibility
How to Choose the Right Business Impact Analysis Software
Selecting the ideal business impact analysis software is key to effective risk management and recovery planning. The software solutions discussed above are considered the most outstanding in the market today. Take another look at your options in the summary below:
| Business Impact Analysis Software | Free Version | Paid Plan | Mobile App |
| SafetyCulture | Yes | $24/seat/month* | Yes |
| Fusion Risk Management | No | Contact vendor for pricing | No |
| LogicManager | No | Contact vendor for pricing | No |
| Archer | No | Contact vendor for pricing | Yes |
| Quantivate | No | Contact vendor for pricing | Yes |
| Riskonnect | No | Contact vendor for pricing | Yes |
| Resilinc | No | Contact vendor for pricing | Yes |
* billed annually
Eunice Arcilla Caburao