Best Enterprise Risk Management (ERM) Software

by Adam M. Sandman on

Best Enterprise Risk Management (ERM) Software for 2026: Top 10 List

What Is Enterprise Risk Management Software?

Enterprise risk management (ERM) software minimizes the risk to a company’s capital and earnings through automation, compliance, and reporting tools. There are several different types of risks that organizations may need to consider, including strategic, regulatory, safety, operational, auditing, and capital risks.

Regardless of the risk type, there are several approaches to managing risks, which are enhanced and supported by ERM software:

  • Risk Avoidance: Averting risks by negating actions or processes that might exacerbate risks.
  • Risk Mitigation: Reducing the impact of risk and minimizing damage.
  • Risk Transfer: Transferring the weight of the risk away from the business via insurance, etc.
  • Risk Acceptance: Accepting risks when the expected profit outweighs the expected risk.

Overview: Enterprise Risk Management Software Comparison

Platform Gartner Rating(Out of 5) G2 Rating(Out of 5) PeerSpot Rating(Out of 5)
1. SpiraPlan 4.7 4.6 5
2. LogicManager 4.1 4.2 4
3. AuditBoard 4.5 4.6 4.3
4. IBM OpenPages 4.1 4.2 3.6
5. Archer 4.1 3.6 3.5
6. Fusion Framework 4.6 4.4 No Reviews
7. Resolver 4.1 4.3 4
8. SAP Risk Management 4.9 4.2 No Reviews
9. Diligent 4.2 4.3 4.3
10. StandardFusion No Reviews 4.5 No Reviews

Key Features to Look for in ERM Tools

To control and minimize risks, large companies adopt enterprise risk management software that combines the following critical features:

  • Identification: Spotting and recording business risks, including defining risks for a repository or allowing users to choose from a pre-established risk dictionary.
  • Assessment: Assigning ratings to risks or developing detailed classifications based on multiple factors defined by individual business units.
  • Monitoring and testing: Defining key risk indicators (KRIs) and recording the effectiveness of risk management processes.
  • Regulatory compliance: Ensuring the company’s risk management processes meet all necessary regulatory compliance by defining and tracking processes and required compliance.
  • Issue management: Managing the execution of key risk-based projects and ensuring critical risk management issues are identified and accounted for.

Our List of the Best ERM Software for 2026

#1: SpiraPlan


SpiraPlan is an enterprise solution that helps manage IT and other risks to foster a risk-aware business culture within companies of all sizes. It does this by embedding risk management directly into the SDLC instead of being a standalone GRC tool like others on this list. That means risk identification, assessment, analysis, tracking, mitigation, and reporting in one centralized hub. Risks in SpiraPlan are a separate artifact with their own types, attributes, and workflows, but are still fully integrated with its requirements, project management, issue management, and task-tracking modules.

SpiraPlan’s built-in risk matrix identifies and scores potential risks (both on probability as well as impact), making it easier than ever to prioritize, assess, and assign each identified risk. Our new Inflectra.ai integration with Spira generates recommended mitigation strategies that map directly to specific risks, requirements, and development efforts. SpiraPlan also provides native support for adding, scheduling, and tracking the various mitigations to the risk, and provides visually rich executive dashboards with widgets that include a colored matrix of risk probability. For regulated industries, risks include a full audit trail of any changes made to the risk. SpiraPlan is an integrated, unified, and aligned ERM platform that outperforms many legacy GRC tools, which is backed up by third-party reviews on sites like Gartner, G2, and PeerSpot.

Ideal For: An organization that manages a mix of delivery programs, initiative portfolios, and operational workflows across departments and industries, and needs a single platform to unify planning, execution, risk, compliance, and traceability. SpiraPlan supports teams in environments with changing priorities, regulated contexts, or evolving delivery methods.

Differentiators:

  • Risk management is embedded into the SDLC and project-portfolio workflows, rather than being a standalone GRC tool.
  • Offers a unified view via a single “pane of glass” that shows requirements, tasks, issues, releases, risks, and more in one environment.

Key Features:

  • Risk management module for risk identification to assessment through mitigation to monitoring.
  • Integrates SDLC and ALM so requirements, tasks, test cases, defects, and builds are all in one unified system.
  • Traceability and audit trails that fully link artifacts to their history of changes.
  • Rich collaboration and content tools like wikis, diagrams, instant messaging, and mobile support.

SpiraPlan Pros SpiraPlan Cons
Unified platform for delivery, risk, requirements, and traceability.SDLC/portfolio-friendly with risk module embedded.Highly customizable and supports different delivery methods. The broad and deep feature set may lead to a learning curve for new users, but we also offer world-class support and product training.

#2: LogicManager


LogicMonitor is a risk-based GRC framework that excels at centralizing an enterprise's risks, governance, and compliance in a single place. It helps bridge siloed departments and provides a holistic view of risk across the various business units. A major benefit of LogicManager is that it comes with risk assessment templates to get you off the ground and running faster, plus it is a mature and well-established ERM tool. It efficiently links risk assessments, governance procedures, controls, and performance metrics in a single system for easier management, making it a solid choice in 2026. However, its implementation can take longer and may require more governance overhead due to its oversight of multiple departments and business units. It also lacks deeper alignment between SDLC and risk compared to other platforms like SpiraPlan, which can be detrimental in certain environments (e.g. software or IT delivery).

Ideal For: A mid-to-large enterprise aiming to build or mature an ERM foundation across business units (including risk, vendor, compliance, and operations) and prepared for a governance upgrade that will take time and sustained focus to embed throughout the organization.

Differentiators:

  • Strong emphasis on “risk-maturity modeling” rather than simply providing checklist capabilities.
  • Prescriptive risk-based approach via templates, maturity models, and dashboards aligned to risk-management best practices.

Key Features:

  • Pre-built risk taxonomies and AI-powered “Risk Ripple” analytics to uncover hidden dependencies.
  • End-to-end ERM to assess, mitigate, monitor, and report.
  • Extensive third-party and vendor-risk support, including document-analysis AI.

LogicManager Pros LogicManager Cons
Comprehensive ERM features covering risk assessment, vendor, and compliance. Strong customer support and industry recognition. May be complex for smaller organizations or less mature risk programs. Reporting and interface may feel less intuitive.Pricing is not always clear.

#3: AuditBoard


AuditBoard is a well-known tool for audit, control, and assurance workflows that are tied to enterprise risk. This also offers a unified platform for risk management and is especially valuable for compliance teams. Its risk registers span ERM as well as ORM (operational risk management), plus scenario planning, full risk lifecycle, and more. AuditBoard’s control testing and incident management features bolster compliance and support internal auditing. Like the other tools on the list so far, this also comes with templates and integrations to speed up onboarding and help users hit the ground running. However, this platform is more targeted towards broad enterprise assurance rather than software-focused teams, so it lacks some of the DevOps or SDLC risk features that other tools offer. It’s also fairly heavy and not a recommended option for teams looking for a lightweight and embedded risk management tool, so keep that in mind as you’re deciding.

Ideal For: A company with a strong internal audit, compliance, or control-assurance function (for example, in regulated industries) where the priority is to unify audit, risk, and compliance workflows into a common platform built for assurance teams rather than development or delivery teams.

Differentiators:

  • Solid user-friendliness, collaborative features for audit/risk teams.
  • Built so risk assessments link closely to control testing, internal audit, and compliance.

Key Features:

  • Unified risk-audit-compliance workflows.
  • AI-enabled automation that can auto-scope memos, summarize audits, and auto-map controls/frameworks.
  • Real-time dashboards and no-code analytics for performance reporting.

AuditBoard Pros AuditBoard Cons
Strong unified audit/risk/compliance workflow and automation. Known for ease of collaboration and time-saving productivity gains. Pricing may be high for smaller teams and advanced modules require training. Some users report limitations in certain integrations or offline functionality.

#4: IBM OpenPages


IBM OpenPages is a common choice for very large-scale enterprises looking to upgrade their governance, risk, and compliance (especially in regulated industries). IBM excels at this scale, providing a modular architecture that covers operational risk, policy management, financial controls, and more. OpenPages’ scale makes it a strong option for organizations that already use large enterprise systems, especially those with IBM-centric tech stacks, and require strong cross-domain risk capabilities. However, this is typically overkill for companies and teams that don’t fit into this category, slowing down implementation and creating unnecessary complexity for users.

Ideal For: A large global organization with multiple lines of business, extensive regulatory exposure, and diverse risk domains (financial, operational, third-party, model, IT) that needs a scalable, modular GRC infrastructure to span the enterprise.

Differentiators:

  • Very extensive, modular architecture that supports operational risk, financial risk, third-party risk, regulatory compliance, and internal audit.
  • Solid AI/analytics integration with Watson for scale and cross‐enterprise consolidation.

Key Features:

  • GRC modules that include operational, financial, third-party, and model risk.
  • Strong AI analytics engine with a centralized data repository for controls across domains.
  • Scalable deployment (cloud or on-premises) for large global enterprises.

IBM OpenPages Pros IBM OpenPages Cons
Modular, enterprise-scale GRC architecture covering multiple risk domains.Strong third-party risk management and vendor risk modules. Complex to implement and may require significant consulting/IT resources. Costly and may be overkill for smaller or less complex programs.

#5: Archer


Archer performs well as a configurable, integrated risk management platform for teams that manage multiple dimensions of risk (e.g. compliance, IT, operational, financial). It provides risk assessment and mitigation capabilities, which pair well with its security risk management and model risk governance. Archer also comes with issue management, regulatory compliance workflows, and more. Its customizable dashboards and integrations enable enterprises to tailor the system to their specific needs. However, this customization comes at the expense of “plug-and-play” capabilities, making it more complicated and time-consuming to set up and learn (and may even require consultants). Its focus on broad IRM also means that it may lack more targeted features offered by other platforms on this list.

Ideal For: An enterprise with complex integrated-risk and IRM requirements (such as business continuity, vendor risk, IT risk, or model risk) and willing to invest heavily in configuration, governance, and customization to build bespoke workflows aligned with its risk architecture.

Differentiators:

  • Highly configurable platform to build custom workflows and integrate with multiple risk domains.
  • Already has a strong presence in large enterprises with robust support and a large ecosystem.

Key Features:

  • Customizable workflows to tailor risk, issue, and mitigation processes.
  • Cloud-native SaaS with modern UI and workflow automation.
  • AI governance module to help manage emerging risks, model risk, and dashboards.

Archer Pros Archer Cons
Configurable workflows and broad IRM capability.Deep risk library, vendor risk, and compliance features. Steep learning curve and user interface may be less intuitive.Extensive customization can increase maintenance and budget.

#6: Fusion Framework System


The Fusion Framework System is a cloud-based risk and response management tool that helps gather, organize, and analyze data for more informed decision-making. It helps users align strategic objectives with key risk management techniques and supports risk monitoring across the enterprise. Users can perform assessments and establish inherent and residual risks, while risk management modules help identify risks, control deficiencies, determine responses, and develop action plans. Through Fusion Framework’s data visualization capabilities, businesses can clearly see and understand the connection between processes, dependencies, risks, and business impacts. However, its emphasis on business continuity, IT disaster recovery, and crisis management may hamper its capabilities for enterprises looking for a platform that can do more to support project risk.

Ideal For: An organization where operational resilience, business-service dependency modeling, scenario-based continuity planning, and disruption preparedness are critical priorities rather than only project-delivery risk, such as utilities, supply-chain-intensive firms, or large operational enterprises.

Differentiators:

  • Strong visual modeling of business services, dependencies, and resilience modeling.
  • Emphasis on preparedness, incident response, and operational resilience as part of risk management.

Key Features:

  • Business-service modeling to map critical services and dependencies for resilience.
  • Scenario simulation tools to plan, rehearse, and respond to disruption.
  • Integrated vendor/third-party risk with continuity and risk modules in one suite.

Fusion Framework System Pros Fusion Framework System Cons
Strong focus on operational resilience, business-service mapping, and continuity.Integrates vendor/third-party risk with resilience workflows. More specialized for continuity-focused environments.May require broader cross-functional collaboration and domain expertise for full value.

#7: Resolver


Resolver is a tool that focuses primarily on risk planning and preparation for organizations that want to move beyond manual spreadsheets with more structured risk intelligence processes. It supports early planning of risk identification, in stages when project objectives and regulatory requirements are still in the making. Resolver also uses custom workflows, dashboards, and analytics for risk exposure that fit your needs. The platform can integrate with other risk, security, and IT tools to extend capabilities like automation and incident-response linkage. For risk prioritization and analysis, it uses a risk-scoring algorithm that ranks threats based on priority and severity level. Resolver is aimed at mid-market organizations looking for solid value without enterprise overhead, which is why it’s lower on this list of enterprise risk management software. The tool also tends to lean more heavily on integrations than other ERM software, indicating that its out-of-the-box capabilities don’t quite measure up.

Ideal For: A mid-market organization looking to move beyond spreadsheets or manual processes for risk, incident, and compliance workflows, needing a solution that delivers solid functionality with manageable complexity rather than a full-scale enterprise GRC rollout.

Differentiators:

  • Strong combination of incident + risk register + compliance.
  • Offers a compromise between a structured risk framework without the enterprise-level cost/complexity.

Key Features:

  • Centralized risk/incident/case management with configurable workflows.
  • Automated alerts, scheduling, and notifications for risk events and assessments.
  • Modular mid-market solution with faster deployment and leaner footprint.

Resolver Pros Resolver Cons
Good value ERM tool with risk, incident, and compliance management.Quicker to deploy and lighter footprint than large enterprise suites. May lack depth of large-enterprise modules (e.g. global model risk, very large audit footprint).Might need integrations/custom work for the full breadth of enterprise risk domains.

#8: SAP Risk Management


SAP is another juggernaut of the enterprise software landscape, with its Risk Management platform contributing to this popularity. As with other major vendors like Oracle, IBM, etc., SAP Risk Management is best-suited for teams that already heavily use the associated ecosystem (such as SAP’s ERP, finance tools, etc.). The platform integrates and connects well with these other SAP platforms, tying risk and assurance capabilities to existing operational and financial processes. It can handle risk identification, assessment, mitigation, monitoring, internal controls documentation, and compliance workflows. This, paired with its access to real-time data (assuming you have other SAP systems), makes SAP Risk Management a strong option for SAP-centric organizations. As with other high-walled ecosystems, SAP Risk Management is probably not the best choice for companies outside of the SAP ecosystem, and its legacy setup and interfaces can be cumbersome and needlessly complex to learn (plus integration with non-SAP systems can be difficult).

Ideal For: A company deeply invested in the SAP ecosystem (ERP, operations, finance) that wants risk, controls, and assurance embedded within its operational/financial systems rather than toggling between separate risk tools.

Differentiators:

  • Tight integration with SAP ERP/finance modules.
  • Strong control/assurance workflows, especially for SAP-centric organizations.

Key Features:

  • Embedded into SAP ERP and finance (tied into financial and operations data).
  • Quantitative and qualitative analysis for scenario modeling, KRI monitoring, and real-time data feeds.
  • Visual dashboards supplemented by integration with SAP process management tools.

SAP RM Pros SAP RM Cons
Strong integration with SAP ERP/finance/operational systems (risk and control tied to actual transactional data).Good for finance-centric organizations already within the SAP ecosystem. Implementation is complex, expensive, and resource-intensive for non-SAP teams. Less flexible for organizations outside SAP ecosystems or focused on agile/delivery risk.

#9: Diligent One


Diligent is particularly adept at managing and communicating risk for strategic governance and boardrooms. It combines governance with risk, auditing, compliance, and board oversight in one strong platform, complete with benchmarking and even external data. Diligent centrally captures risk data, aligns to strategic goals, and provides board-level dashboards to visualize information. It uses data from Moody’s to benchmark external risks, and can even build storyboards for leadership. However, this focus on board-level or executive presentation can limit it in other areas, such as project or portfolio risk management and more in-the-weeds capabilities.

Ideal For: An organization where risk management is tightly integrated with board governance, strategy, audit, ESG, and compliance that needs a platform that serves senior leadership, board reporting, audit oversight, and enterprise-wide governance.

Differentiators:

  • Aims to provide a single “pane of glass” for the board and executives to view risk, controls, audit, and ESG.
  • External data and benchmarking intelligence (e.g. Moody’s, third-party data feeds) are embedded in the platform.

Key Features:

  • Unified GRC for streamlined board governance, risk, compliance, audit, and ESG within one interface.
  • Executive/board-level dashboards and templates with embedded benchmark intelligence (e.g. third-party data).
  • Extensive integrations/APIs for deeper insight.

Diligent Pros Diligent Cons
Unified board/leadership-level GRC, governance, risk, audit, and ESG in one platform.Strong integration with external data, benchmarking, and executive dashboards. May feel strategic/governance-heavy and less tailored to operational/project-risk teams.Investment and scope may exceed what smaller or delivery-focused teams need.

#10: StandardFusion


StandardFusion is a cloud-based GRC tool designed to quickly and easily manage basic risks, comply with standards, and follow best practices. It is cost-effective, user-friendly, and can be valuable for simplifying risk and policy management. StandardFusion helps users identify risks by leveraging the platform's integrated threat library. Once a risk is surfaced, users can evaluate and prioritize it using one of the built-in risk methodologies (or define custom calculations). This platform is great for rapid deployment, easy-to-use templates, and low-code configuration, making it appealing for small-to-medium-sized teams. However, its capabilities are limited for true enterprise-level risk management and global companies. StandardFusion’s broad scope also means relatively generic workflows, which can be a drawback for specific industries.

Ideal For: A small-to-mid-sized organization seeking an all-in-one GRC/ERM platform (risk, compliance, audit, vendor, policy) with faster deployment, simpler footprint, and lower overhead.

Differentiators:

  • Balances usability and cost-effectiveness with quick deployment and easier UX than legacy systems like SAP, Oracle, and IBM.

Key Features:

  • All-in-one GRC that combines risk, compliance, vendor, audits, and policy in one platform.
  • Real-time risk scoring and threat libraries with no-code configuration.
  • Rapid deployment for mid-market with lower overhead than large suites.

StandardFusion Pros StandardFusion Cons
All-in-one GRC/ERM platform with simpler deployment, intuitive UI, and good support for mid-market. Good for teams consolidating risk, compliance, audit, and vendor management in one tool. Limited customization or advanced analytics compared to full-scale suites. Integration and performance may become constraints with large datasets or complex operations.

ERM Software Honorable Mentions:

  • 360Factors
  • Active Agenda
  • Active Risk Manager
  • Riskonnect (previously Camms)
  • CyberOne
  • Essential ERM
  • ETQ
  • Intelex
  • IsoMetrix
  • NAVEX IRM (previously Lockpath)
  • LogicGate
  • MetricStream
  • Onspring
  • Optial Risk Manager
  • Pims Risk Management
  • Protecht
  • Quantivate ERM
  • Risk Management Studio
  • SAS
  • Scarlet ERM
  • Workiva

SpiraPlan is the Best ERM Software for Financial Services, Aerospace, & Other Regulated Industries

While SpiraPlan may fly under the radar for some when it comes to risk management, its capabilities, pricing structure, testimonials, and 3rd-party reviews make it clear that it is a leading risk management solution heading into 2026. From comprehensive security and compliance for regulated industries to cutting-edge AI features that streamline risk assessment processes, it creates a unified pane of glass to monitor multiple projects and portfolios. Spira’s concurrent user licences mean that you get more value for your money compared to the named-seat pricing of other platforms. Interested in learning more about how SpiraPlan can support your enterprise risk management? Get in touch to schedule a demo, or try a free 30-day trial to see for yourself why so many partners trust it for their portfolio management and more.

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