Managing enterprise risk is key to building a resilient, and compliant business that consistently meets its strategic objectives. To proactively manage exposure and support better decisions, forward-thinking organizations invest in the best Enterprise Risk Management (ERM) software to proactively identify, assess, and mitigate risk at scale.
From Risk Registers to Strategic Insight: How ERM Platforms Have Evolved
ERM platforms have advanced significantly in the last decade, particularly in their ability to centralize risk data and improve risk management across the enterprise. They started out as simple software that housed risk registers, control libraries, and automated risk assessments. Now, they are holistic business systems that enable firms to manage every aspect of their risk management processes in alignment with their business objectives. ERM systems have become a central component to guide strategic decision-making.
Modern ERM platforms are not just for risk teams; they are used by staff across all levels of the organization. Operational staff use the same platform to complete risk assessments and control checks that senior leadership teams also use to inform their strategic direction and allocate resources.
Beyond Operational Risk Management: The Expanding Power of ERM Platforms
ERM platforms offer more API integrations and capabilities than ever, providing deeper insights into potential risk exposure. Many ERM platforms not only manage enterprise risk but also offer broader GRC capabilities. Firms may now use a single platform to manage multiple risk types in one integrated solution, including IT and cyber, third-party, strategic, compliance, insurable risk, and claims.
How to Choose the Best ERM Software in 2026
We’ve reviewed dozens of ERM tools and shortlisted the top 10 ERM platforms in 2026 based on capabilities, performance, and key focus areas. We rated solutions on functionality, ability to scale, risk identification, configurability, regulatory alignment, reporting, ease of use, and implementation.
Riskonnect Ranked as the Leading Enterprise Risk Management Platform for 2026 and Beyond
Riskonnect leads the ERM market with its broad range of features, powerful automation, and seamless integrations. This advanced functionality reduces manual work and offers real-time risk analytics, making it the #1 choice for organizations seeking a scalable, enterprise-grade risk platform to meet their evolving needs.
Top 10 Enterprise Risk Management (ERM) Software Platforms in 2026
| Rank | Platform | Best For |
|---|---|---|
| 1 | Riskonnect | Best overall ERM solution offering a broad range of capabilities for all deployment types |
| 2 | Resolver | Known for rapid, out-of-the-box implementations, with limited customization |
| 3 | OneTrust | Primarily focused on data privacy and cyber risk management use cases |
| 4 | LogicManager | Viable mid-market option |
| 5 | MetricStream | Often used by large enterprises requiring bespoke complex implementations |
| 6 | Fusion Risk Management | An ERM platform primarily focused on operational resilience and business continuity |
| 7 | RiskWatch | A budget option focused on cyber and physical security risk management |
| 8 | SAP GRC | Typically chosen by firms already invested in SAP products |
| 9 | AuditBoard | Commonly used by firms with extensive audit and internal controls teams |
| 10 | Diligent | Offers in-depth board-level governance and oversight |
1. Riskonnect – Best Overall ERM Software in 2026
Riskonnect stands out as the market leader because of its broad spectrum of use cases, usability, and in-depth reporting. Its fully integrated ERM solution enables organizations to connect risk and control data across functions, from operational, IT, and third-party risk to compliance, strategic risk, and insurable risk and claims. The platform’s flexibility, scalability, configurability, and out-of-the-box templates, workflows, and forms make it ideal for mid- and enterprise-level deployments.
Why it’s #1:
- Prebuilt templates and workflows that can be configured for both mid-size and enterprise deployments.
- The comprehensive risk taxonomy enables firms to compare and prioritize risk ratings across different areas holistically, ensuring effective risk quantification.
- Best-practice frameworks to manage multiple risk types in one integrated platform, including:
- Operational risk
- Strategic Risk
- Cyber and IT risk
- Third-party risk
- Insurable risk and claims
- Compliance risk
- Incidents
- Audits
- Business continuity and resilience
- Internal controls
- Industry-specific templates to support highly regulated industries (e.g., healthcare, finance).
- Can be configured to align processes with specific frameworks like ISO standards, COSO, SOX, DORA, APRA CPS 230, GDPR, NIS2, NIST, HIPAA, and more.
- Real-time incident capture, reporting, and remediation workflows to resolve incidents faster and reduce risk exposure.
- It goes beyond traditional ERM to offer advanced capabilities, including AI governance, ESG, and aligning risk to performance and strategic goals.
- User-friendly interface that reduces training time and speeds adoption.
- Real-time dashboards and executive reporting deliver the analytics and insights leadership need to make timely, risk-informed decisions.
Pros:
- The best-practice out-of-the-box templates are highly configurable, eliminating custom code and costly professional services fees.
- Suitable for organizations of all sizes, from highly regulated enterprises to firms moving off spreadsheets.
- Offers the latest advanced ERM capabilities for those who want to scale and mature their programs.
Cons:
- Some initial configuration is required to tailor alignment with business needs and unlock functionality.
2. Resolver
Users recognize Resolver for its straightforward design and quick setup. Their integrated risk management platform provides standard risk assessment tools, control libraries, and basic data visualization, and teams most often use it to link incidents to risks and handle simple workflow automation.
Pros:
- Offers dashboarding and automated reporting.
- Quick setup for standard use cases.
- Simple user interface with some workflow configuration.
Cons:
- Less customizable for bespoke implementations and niche risk frameworks like DORA, HIPAA, and CPS 230.
- Lacks advanced capabilities for ESG, strategic risk, insurable risk, claims, and health and safety.
3. OneTrust
OneTrust is best known for its focus on data privacy, compliance, and third-party digital risk. Its core strength is managing privacy regulations such as GDPR, CCPA, and vendor-related digital risks. While it includes some ERM functionality, it is less suited for organizations looking for a full-spectrum ERM solution that spans operational, strategic, and insurable risk areas.
Pros:
- Specialized modules for data governance, consent, and privacy.
- Focused capabilities for privacy risk, compliance, and third-party risk.
- Prebuilt frameworks for cyber and data privacy regulations.
- Clean user interface with workflow configuration options.
Cons:
- Less suited to traditional enterprise risk frameworks like ISO 31000 or COSO.
- Doesn’t offer strategic and insurable risk and claims functionality.
- Operational risk functionality is limited because of an increased focus on digital risk.
4. LogicManager
The LogicManager integrated GRC tool is often chosen by mid-sized organizations focused on risk and compliance management. Its functionality centers on IT governance and controls, with reporting tools that connect operational and executive-level risk views. While it offers some AI-assisted reporting, the platform lacks broader ERM capabilities and advanced integrations needed for enterprise-wide programs.
Pros:
- Often chosen for mid-sized firms looking to follow standard risk frameworks.
- Positive reviews regarding customer support and implementation.
Cons:
- API Integrations with other systems and data sources can be limited, making it challenging to get a single source of truth.
- Lacks broader ERM capabilities for areas like insurable risk and claims.
- Reporting can be overly granular and requires customization.
5. MetricStream
The MetricStream ERM system is most often deployed in large enterprises with complex, bespoke requirements that require alignment across GRC functions. Its ERM functionality focuses on control testing, compliance monitoring, and third-party risk. While it can be configured to handle wide-ranging needs, implementations are typically lengthy, costly, and resource-intensive.
Pros:
- Typically used for large-scale rollouts with bespoke requirements.
- Offers configuration and integration options.
Cons:
- Requires more upfront configuration, resulting in lengthy implementation time.
- Costs can be higher because of licensing, consulting services, customization, and support.
- It can be time-consuming and technically demanding to configure workflows and reports .
6. Fusion Risk Management
Fusion Risk Management primarily focuses on business continuity and resilience, making its ERM offering most relevant for organizations prioritizing operational risk. It provides prebuilt workflows, forms, and dashboards can be customized for bespoke requirements. Functionality outside continuity and crisis management is more limited.
Pros:
- Primarily used for business continuity, resilience, and crisis management planning.
- Built on the Salesforce platform for basic flexibility and standard Salesforce dashboards.
Cons:
- Upgrades can be disruptive due to Salesforce dependencies, and there are some configuration and reporting constraints and admin complexity.
- Less alignment with regulatory frameworks and industry best practices.
- Set up and configuration can be time-consuming.
7. RiskWatch
The RiskWatch risk management solution primarily focuses on operational and cybersecurity risks, offering a simple, affordable option for smaller organizations. While suitable for entry-level programs, its scope and functionality are limited compared to full ERM platforms.
Pros:
- Caters to smaller firms focused on operational and cybersecurity risks.
- Lower cost because of simplified capabilities.
Cons:
- Narrow scope compared to full ERM platforms.
- Reporting is limited to basic outputs and is not suited for advanced needs.
- Does not scale to include TPRM, insurable risk, business continuity, or other advanced functions.
8. SAP GRC
The SAP GRC platform is most often chosen by organizations that are already invested in the SAP ecosystem. Its functionality centers on access controls, SOX compliance, and integration with other SAP products. While it offers risk monitoring and reporting, setup is complex, costly, and heavily dependent on SAP expertise.
Pros:
- A well-known brand that integrates primarily with SAP products.
- Commonly used for SOX compliance and segregation of duties.
Cons:
- Complex setup with lengthy implementation timelines.
- Steep learning curve; requires SAP expertise to maximize value.
- High-cost relative to other platforms.
9. AuditBoard
AuditBoard is primarily designed for audit and SOX compliance, with ERM functionality layered on through its audit, operational, IT, and third-party risk workflows. The simple, clean interface supports audit and control teams, but the broader ERM program capabilities remain limited compared to enterprise-grade platforms.
Pros:
- Primarily used for internal controls teams and SOX compliance.
- Straightforward interface with workflow configuration options and great customer support.
- Provides functionality for linking workflows—such as controls, tests, and issues for an integrated approach.
Cons:
- Limited risk scoring functionality.
- Complex permission model and admin-heavy setup.
- Does not support advanced use cases such as strategic risk or insurable risk.
10. Diligent
Diligent, which expanded through the acquisition of Galvanize, is primarily focused on governance and board reporting. It combines risk, audit, and compliance functions with automation for tasks and reminders, but its ERM functionality is narrower and less flexible than enterprise-wide platforms.
Pros:
- Provides dashboards designed for board and executive use.
- Intuitive user interface with simple dashboarding for proactive risk management.
- Offers API integrations.
Cons:
- Steep learning curve; requires training for new users.
- Limited flexibility as reporting changes often require vendor support.
- Pricing can be high for smaller organizations wanting to unlock more capabilities.
Final Thoughts: Why Riskonnect is the Best ERM Platform
Riskonnect leads this year’s ERM software rankings by offering an enterprise-wide risk platform that covers a full spectrum of risks, from operational, IT, and third-party to strategic risk, insurable risk, and claims.
The platform balances deep configurability with ease of use, automation, and alignment with global risk and compliance frameworks—from ISO and SOX to GDPR, HIPAA, and CPS 230, making it widely used across industries. The platform empowers organizations to scale their risk management program, boost accountability, and stay ahead of evolving risks.
Riskonnect delivers the breadth and depth of capabilities unmatched by other ERM platforms, making it the clear market leader in 2026.
Ready to Find the Right ERM Platform?
Connect with our risk specialists and see why leading organizations choose Riskonnect, or download our RFP template for a list of key questions to compare ERM vendors effectively.