IT risk management tools are used to identify and assess IT risks associated with companies. These tools ensure the privacy and safety of customers' data. The tools used by IT departments can be used by all employees. IT risk management software integrates with governance and compliance and other risk management software. So before deciding what service to avail of, it is important to know the necessary details regarding IT risk management tools.

In the list of the top tools, we have mentioned the top 15 IT risk management tools along with their features and pricing for you to choose from.

1. Workscope

Workscope provides a platform where organizations can map, manage and improve the user-end computing industry. This platform provides a real-time contextual view of the spreadsheet which you have typed. These spreadsheets help users to understand the business process of companies. Whether you want to demonstrate operational resilience or understand the time and materiality associated with the making of spreadsheets, Workspace is the software for you. Workspace can provide solutions to all the spreadsheet-related problems without changing any business management services or manual intervention.

Key Features:

• Without manual overhead, you can discover opportunities. You can automate the discovery services and pinpoint the most effective opportunities and manage the necessities.

• End-to-end tracking of data maps relationships between sources of data and spreadsheets. This helps to understand the data risks, data dependencies, and data sources.

• Automatic checking of data makes it for users and managers to maintain compliance. You can access an unlimited number of models, without any fees.

• Identify and analyze before you migrate to new versions of Microsoft Office for business processes. Workscope provides the tools to minimize disruption in the business schedule.

• Error checking is automatic to avoid risks and develop the spreadsheet quality with the help of productivity tools.

Cost:

You can talk to their sales team and request a quote.

2. TrustMAPP

TrustMAPP platform provides the necessary tools and support needed to upgrade cybersecurity discussion into the wider business. The TrustMAPP Cybersecurity Performance Management system is used by companies that empower IT, security leaders, to identify and communicate with the executive stakeholders. TrustMAPP helps IT, leaders, to get a clear vision for how the cybersecurity system adds value to the companies.

Key Features:

• TrustMAPP provides Turnkey Assessments which helps in an easier workflow. These are easier to build templates for your companies.

• This platform provides real-time results as soon as the assessments are performed.

• Complete budgetary guidance is provided by TrustMAPP to guide your redemption efforts and expenses.

• TrustMAPP gives project management tools, also known as redemption tools to keep a check on your team's progress.

Cost:

The entry-level price of TrustMAPP starts at $5000.

3. TeamSuccess

TeamSuccess is an easy-to-use risk management tool that empowers companies to control risks associated with the business. The system software of TeamSuccess enables managers to make team members agree to each risk and monitor risk continuously.

Key Features:

• Each risk is monitored cautiously and the responsibility depends on every team member.

• Provides tools that help in the management and maintenance of privacy of users' data.

• Every employee is responsible to maintain compliance and contribute to the company's management system.

Cost:

You can discuss this with their sales team and request a quote.

4. Tanium Reveal

Tanium Reveal helps to search and monitor data across any number of endpoints. It eliminates data movement and improves data-handling services. Tanium Reveal helps to unify teams across companies' data management services. Tanium Reveal reduces IT infrastructure and helps improve efficiencies through risk inventory.

Key Features:

• The Tanium Reveal platform aligns teams with complete, high-quality data services across the globe.

• This platform helps to control the entire IT estate and departments within seconds with minimal impact on network services.

• Tanium Reveal provides clear visibility into every endpoint and helps to manage and check accurate and real-time visibility.

Cost:

You can discuss with the sales team of Tanium Reveal to know about the package price.

5. STREAM Integrated Risk Manager

STREAM Integrated Risk Manager platform provides an insight into IT operational risk which helps companies to make proper strategic decisions. Through a centralization system, STREAM reduces manual processes, eliminates risks in business, and builds stakeholders' positions.

STREAM Integrated Risk Manager is designed to meet the complex risk management needs of the leading companies. It is practical and easy to implement and delivers values within weeks.

Key Features:

• This platform helps see all the factors involving risk to your organization and update automatically as they change.

• STREAM Integrated Risk Manager uses configurable quantitative and qualitative assessments and determines the significance of each risk involved.

• The Test for Tolerance is high in STREAM Integrated Risk Manager and helps to compare the risk profiles against companies' risk tolerance services.

• You can check the best practices by planning your responses and laying out pre-configured data catalogs making details of the best practices to eliminate threats.

• ROI-based security investments improve maturity readiness. It analyses the security investment needs and provides solutions.

Cost:

STREAM Integrated Risk Manager package price can be known from the sales team of the company.

6. SafePaaS

SafePaaS is a leading company that provides cybersecurity and risk management tools to help organizations efficiently monitor the real controls and manage risks against the company. Its risk management services enable companies to control IT investments and turn cybersecurity risk management obstacles into optimum business performance. SafePaaS is the one place solution for secure and trusted information management in wider applications.

Key Features:

• AccessPaaS is a trusted access platform that allows you to improve performance by reducing costs.

• ProcessPaaS ensures secure collaboration in the Cloud and On-Premise apps.

• ARCPaaS is used for monitoring the datasheet attached. It includes an Audit Manager for automation.

• This platform monitors Ent The enterprise Risk involved and reduces frequency and severity of loss occasions.

Cost:

You can contact the sales team of SafePaaS to know about the package price.

7. Reciprocity

Reciprocity offers optimal solutions to elevate a company's compliance program to the highest infosec level. The Clio cloud-based solutions stand perfectly with the GRC program. Using the GRC program you can continuously monitor and customize audit management needs. ZenGRC acts as a central platform to guide your company throughout the whole management system.

Key Features:

• The automatic nature used by this platform reduces manual effort and helps in the efficient management of the system.

• Risk management tools that are bolted on helps to secure the privacy of the user information.

• It provides risk visibility and reports are shown on the company’s dashboard.

• Provides simplified and shortened audit management systems to increase the working capabilities.

Cost:

The package price is available on the company’s website.

8. LogicGate Risk Cloud

LogicGate Risk Cloud is a cloud-based form that offers risk management applications that helps businesses to govern their processes. It combines high-level intent with easy services to create a proper view of the risk programs involved.

Key Features:

• Dozens of GRC applications are available on this platform to choose from. You can also build your personalized applications.

• All your data is stored in one platform which provides better insights and it's easy to find the right data at the right time.

• The manual processes are automated which eliminates duplicate values and checks them. The platform provides flexible connections for data points from various applications.

• This GRC platform is built by GRC experts and customer service is top-rated and considered as prior for the company.

Cost:

You can talk with the sales team of the company to know about the package pricing.

9. Fastpath Assure

Fastpath Assure is a cloud-based platform that can track, inform and mitigate access risks involved and shows in the dashboard. It comes with a pre-configured combination of duties set specifically for ERP/CRM systems. Using Fastpath Assure clients can easily see what access users have, generate reports, and record sign-offs. The automated process can cut off audit time from weeks to hours.

Key Features:

• The tools provided by Fastpath Assure are very easy to use and provide real-time results.

• It gives fast solutions to your issues offering automated solutions.

• The work time of Fastpath Assure is really saving and one can use it to cut off audit time as needed.

Cost:

You can quote a price for a package on their website.

10. Apptega

Apptega is a cybersecurity management platform that helps to assess, manage and build your compliance program. Apptega offers GRC systems for IT companies. Organizations rely on Apptega to meet the obstacles related to cybersecurity and manage them efficiently. Apptega manages the challenges most efficiently and reduces cost costs by preparing a report and solving issues.

Key Features:

• Cybersecurity experts will guide and support you in your decisions regarding company management.

• Questionnaire assessments are provided to offer real-time solutions to people.

• Workflow is maintained and this platform helps to manage tasks efficiently.

• Collaboration and budgeting are done properly so that the exception of the programs will be done perfectly.

Cost:

Package prices are available on the company’s website.

11. SecurityScorecard

SecurityScorecard offers services in the field of technology which is used by over 1000 companies for third-party risk services, self-monitoring, and cyber insurance. It allows all organizations to easily find and fix IT risks associated with their company. SecurityScorecard provides instant risk ratings which map vendors' queries and resolve them.

Key Features:

• Due to the good analytics available, you can clearly monitor situations that could pose a threat to your company.

• It covers all the external threats like phishing and hacking, and lets you know about any potential issues.

• Continuous monitoring of data helps eliminate risks.

• Fast threat detection and prevention by tracking attacks. It provides time to time alerts so that suspicious activity could be easily eliminated.

• Helps your cybersecurity company to get, maintain and prove compliance with the rules of your company.

Cost:

Package costs are available on the website.

12. Logic Manager

Logic Manager helps to provide better risk management tools that improve performance. The ERM software of this platform helps organizations to maintain their reputation and improve business quality. Logic Manager's SaaS platform has nearly 100 different point solutions packages made available.

Key Features:

• This platform helps in efficient management by providing the necessary tools.

• Sends alerts regarding the potential threats and helps to eliminate them.

• Notifications, alerts, and updates are available on the dashboard and can be updated from time to time.

Cost:

Package costs can be known from the sales team of the company.

13. Camms.Risk

Camms.Risk is an industry-designed flexible software management tool that provides a unique approach to governance, threats, and compliance. A comprehensive and integrated way provided by this platform works across local and global sectors. Camms.Risk helps its users to achieve results and stay a step ahead of the risks.

Key Features:

• It provides cloud cloud-based management services that are compliant with international standards.

• A library of pre-designed templates is available which can be customized according to your need.

• Users can record full-fledged issues. Organizations can monitor incidents with the help of tools available.

• Hazard management can be used to monitor associated risks safeguard the company's safety

• Audit capability helps in the scheduling of data that can be traced back.

Cost:

You can quote a package price from their website.

14. CIMCON Software

CIMCON Software provides risk management tools for model risks and EUC risks. The solutions that they use minimizes errors and protects data in EUC/UDA like data in modeling tools and spreadsheets. CIMCON Software is regarded as the best user-end controlled computing software used for risk management.

Key Features:

• CIMCON EUC insight tool can be used to customize workflows.

• The products available on this platform are very flexible to use. The modules available are easy to learn.

• The technical expertise is quick and responsive. After users are properly trained and get to know about the tools, they require a lot of help in audit management.

Cost:

You can quote a price from their website.

15. Hyperproof

Hyperproof is a scalable, intuitive, and flexible operation platform that helps the compliance team to level up their work. They help organizations to provide continuous assistance and mitigate the potential IT risks associated with the company. Using Hyperproof, you and your team can gain efficiency, consistency, and visibility to stay at the top of all compliance programs.

Key Features:

• It helps businesses to manage compliance programs, eliminate risks and manage audits.

• This platform helps companies to streamline their rational processes.

• By using the Hyperproof API, businesses can integrate it using various risk-free Free Bird party apps.

• It tackles repetitive operational tasks that often disrupt the team's success.

Cost:

You can contact their sales team to quote a price.

Things to keep in mind while choosing IT risk management tools

Do deep research

We have already discussed the different types of IT risk management tools. Now the main thing comes where you have to make a list of tools which you can use keeping your budget in insight. It is very important to do proper research regarding all the tools you want to use and make a list of them. Research properly and then decide which tool would be suitable for your business.

Your Business case should be strong

Your and your team should have a solid case for the investment by acquiring support from upper managers. No doubt, IT Risk Management Tools are really important for business, but you should first properly set up the base of your business and then go for other software

Hence, decision-makers need to see a customized demo before trying out the top tools.

Financial budgeting

Research regarding the top tools, match with your budget and schedule a free demo for top stakeholders. Choose the best software for your organization considering its needs and back it up with valid evidence. IT Risk Management Tools helps in proper budgeting and managing the working capital of the company.

Conclusion

In this article, we discussed the different IT Risk Management Tools. Hope this has given you a clear idea and how you can choose your desired IT Risk Management Tool.

FAQs

What is IT Risk Management Tools?

IT Risk Management Tools are used to trace risks and uncertainties by identifying, prioritizing, and developing proper responses in the IT departments. These uncertainties are difficult to manage and track without IT Risk Management Tools. The techniques involved in these are simplified for users and they can control the systems easily.

What should you consider using IT Risk Management Tools?

It is important to use IT Risk Management Tools because of a lot of uncertainties in the IT sector. With proper risk management, a company cannot define its objectives and goals. A successful IT risk management program helps companies courageously face the risks thrown at them. IT Risk Management Tools analyzes the potential risks and their act. It builds customized solutions based on it.

What are the types of IT risks involved?

It is very important to identify the IT risks and eliminate them as soon as possible in toxoid harm to your business system.

• Hardware and software issues

• Human errors

• Spams, malicious attacks, viruses

• Natural disasters like fires or cyclones

• Hacking and cracking of data

How can you identify that someone is causing harm to the IT system?

Certain signs and odd behavior can help us know that it is at risk. Such signs include:

• Very slow network services and disconnection of net the work from time to time

• Alert or notification regarding suspicious activities from an intruder tool

• Unsuccessful login attempts even after trying for times

• Automatic deletion and modification of stored data, etc.

Is using IT Risk Management Tools reassortant?

To answer this question, yes companies need to use Risk Management Tools to lifeguard their stored and potential data. In today's time, risks related to the IT sector are increasing day by day and we know how valuable information is. So in maintaining the business process so that it can run smoothly, it is needed for companies to use IT Risk Management Tools.