Top 10 IT Risk Management Software of 2024

a cybersecurity professional conducting IT risk management using IT risk management software

Why use SafetyCulture?

SafetyCulture is an excellent software solution to stay ahead of the curve when managing Information Technology (IT) risks. This platform has a user-friendly interface to help IT managers, senior executives, risk managers, compliance managers, business continuity managers, and enterprise architects track and mitigate IT-related risks. Additionally, SafetyCulture has some of the most powerful features available to help companies in their risk assessment and management efforts anytime and anywhere, in real-time.

Features:

  • Identify threats quickly and easily using specific IT risk assessment checklist templates to describe and evaluate applications, databases, operating systems, networks, or other IT risks.
  • Schedule regular inspections to identify risk issues, assign action items to team members for quick remediation, and monitor progress until closure.
  • Implement best practice risk management methodologies with bite-size training on basic IT risk management, security awareness, and risk assessment guidelines.
  • Gain a holistic view of risk from the platform’s robust dashboard and generate reports instantly with live data from inspections and audits to track trends, identify patterns, and prioritize corrective actions.
  • Easily integrate other third-party systems into one platform for automated data sharing relevant to the organization’s IT infrastructure.

Why use LogicGate?

LogicGate is a software solution that replaces scattered emails and spreadsheets with a centralized, no-code environment for efficient risk and compliance activities. The graphical database boosts agility and flexibility as projects evolve, addressing critical issues like IT and third-party risk management.

Features:

  • Enterprise risk management
  • Regulatory compliance
  • Multiple integrations available

Why use Vendor360 by CENTRL?

Vendor360 by CENTRL is an IT risk management platform that helps you handle vendor and third-party risks. It includes pre-set questionnaires to assess vendors’ compliance with regulatory guidelines and offers automation features to streamline document assignment and approval processes.

Features:

  • Centralized vendor directory
  • Vendor selection and onboarding management
  • Issues management

Why use Qualys?

Qualys specializes in cloud security, compliance, and related services. This platform provides businesses with cloud-based security and compliance solutions, including vulnerability management, compliance management, web application security, and cloud security. Qualys can also scan corporate Local Area Networks (LANs) for vulnerabilities, detect malware, and scan web applications for vulnerabilities.

Features:

  • Patch management
  • Policy compliance
  • File integrity monitoring

Why use Resolver?

Resolver collects and analyzes risk data to reveal the true business impact. This platform quantifies the extended effects of various risks and enables customers to communicate them in business terms. This shift in perspective transforms risk from a barrier to a strategic partner, driving the business forward.

Features:

  • Internal audit management
  • Internal library of IT-related safety certifications and frameworks for reference
  • IT risk score calculator

Why use OneTrust?

OneTrust empowers companies to safeguard stakeholders’ privacy, maintain compliance, and efficiently handle potential breaches through a unified interface. This software solution benefits newcomers, offering a readiness assessment grounded in European General Data Protection Regulation (GDPR) principles. It enables businesses to seamlessly incorporate data protection into their operational framework, fostering a secure and privacy-conscious environment.

Features:

  • Ethics program management
  • Privacy management
  • AI-assisted risk management features and calculations

Why use Project Risk Manager?

Project Risk Manager software is a platform designed to assist project teams in comprehensively identifying, quantifying, and mitigating risks across projects of varying scopes and scales. This application provides valuable features, including risk tracking, proactive risk mitigation, and real-time risk occurrence alerts.

Features:

  • Automatic risk ranking
  • Public risk directory access
  • Customizable system parameters

Why use LogicManager?

LogicManager enables organizations to anticipate and manage risks effectively, enhancing performance and maintaining reputation. This platform includes the Risk Maturity Model (RMM), facilitating corporate governance through two-way communication with boards, risk committees, and officers. The RMM offers benchmarking KPIs, actionable steps to improve risk programs, and board-ready reporting.

Features:

  • Dedicated programs for data privacy, vulnerabilities, and asset use
  • Questionnaires for due diligence
  • Risk taxonomy-based tools

Why use nTask?

nTask offers enterprise-grade risk management software that empowers users to identify project risks, assign risk owners, develop mitigation plans, analyze with a risk matrix, and effectively mitigate risks. Itprovides comprehensive risk reporting, ensuring easy visibility and enabling efficient risk assessment. With customizable risk matrices, powerful search and filtering capabilities, and flexible categorization options, nTask facilitates seamless risk management. Additionally, it empowers managers to track progress over time and measure results accurately.

Features:

  • Issue and bug tracking
  • Task management across different teams
  • Team management capabilities

Why use CURA?

CURA offers intelligent software solutions to help businesses worldwide rapidly realize the advantages of Governance, Risk, and Compliance (GRC) advantages. Through swift implementation, seamless configuration processes, and robust enterprise architecture, CURA empowers organizations of all sizes, complexities, locations, and industries to meet their GRC requirements. This platform also boasts powerful configuration capabilities, ensuring comprehensive support for GRC requirements.

Features:

  • Business continuity management
  • Incident management
  • Survey mode for assessments and reviews

What is IT Risk Management Software?

An IT risk management software is a tool that helps organizations identify, assess, and mitigate potential risks related to their IT systems and infrastructure. This software provides a systematic approach to managing IT risks by allowing users to document and track risks, analyze their potential impact, and develop strategies to mitigate or eliminate them. It also helps businesses ensure the security and reliability of their IT systems and protect sensitive data from potential threats and vulnerabilities. With the right IT risk management software, organizations can proactively identify and address potential risks before they cause significant damage or disruption to their operations.

Benefits

The best IT risk management software helps organizations identify, assess, and mitigate potential risks to their IT systems and data. By investing in this software, businesses can enjoy the following advantages:

  • Enhanced security – IT risk management software provides advanced security features such as vulnerability scanning, threat detection, and real-time monitoring, which can significantly reduce the risk of cyber-attacks and data breaches.
  • Streamlined compliance – Compliance with industry regulations and standards is crucial for businesses, especially those operating in highly regulated sectors like finance and healthcare. IT risk management software helps automate compliance processes, ensuring that organizations meet all necessary requirements and avoid costly penalties.
  • Improved decision-making – By providing comprehensive risk assessments and reports, IT risk management software enables businesses to make informed decisions regarding their IT infrastructure and investments. This allows organizations to prioritize risks, allocate resources effectively, and implement appropriate controls to mitigate potential threats.
  • Cost savings – Investing in IT risk management software can lead to significant cost savings in the long run. By proactively identifying and addressing potential risks, businesses can avoid costly incidents, such as data breaches or system failures, resulting in financial losses, reputational damage, and legal liabilities.
  • Increased operational efficiency – IT risk management software helps organizations streamline their risk management processes by automating tasks like risk assessments, incident response, and remediation, saving time and resources that can be allocated to other critical business activities.
  • Scalability and flexibility – The best IT risk management software is designed to be scalable and flexible, accommodating the changing needs of businesses as they grow and evolve. This ensures organizations can adapt risk management strategies and processes to meet new challenges and emerging threats.

Key Features

When selecting IT risk management software, it’s important to consider key features that meet your organization’s needs and effectively manage and mitigate IT risks. Here are some key features to look for:

Choosing the Best IT Risk Management Software

Selecting the optimal tool crib software is vital for efficient inventory management and streamlined operations in your business. The following table concisely overviews container tracking software, highlighting free versions, pricing, and mobile app availability. This resource will assist you in identifying the most suitable option to meet your requirements.

IT Risk Management Software Free Version Paid Plan Mobile App
SafetyCulture Yes $24/user/month* Yes
LogicGate None Custom pricing None
Vendor360 by CENTRL None Custom pricing None
Qualys None Custom pricing Yes
Resolver None Custom pricing Yes
OneTrust None Custom pricing Yes
Project Risk Manager Yes £15 (~$19)/month None
LogicManager None Custom pricing None
nTask Yes $3/month* Yes
CURA None Custom pricing None

* billed annually

Rob Paredes
Article by

Rob Paredes

SafetyCulture Content Contributor
Rob Paredes is a content contributor for SafetyCulture. Before joining SafetyCulture, he worked as a financial advisor, a freelance copywriter, and a Network Engineer for more than a decade. Rob's diverse professional background allows him to provide well-rounded, engaging content that can help businesses transform the way they work.