Top 10 Operational Risk Management Softwares in 2025

Operational risk management (ORM) tools provide essential structure, visibility, and control during critical moments to help you mitigate and prepare for process failures, missed compliance steps, and vendor breakdown.

Modern ORM tools perform multiple functions beyond risk tracking by creating control maps, warning about potential issues, generating reports automatically, and simplifying audit processes.

The difference between basic checklist tools and proper business risk management solutions becomes apparent when you operate in high-stakes sectors such as finance, healthcare, or technology.

The following list features 10 leading operational risk management tools and platforms that deliver effective solutions. These tools transform your team's risk management approach while preventing vital issues from escaping detection.

Top 10 Operational Risk Management Platforms in 2025

1. Atlas Systems

Operational risk management is critical to keeping your business stable, compliant, and audit-ready. But most systems either drown you in spreadsheets or give you pretty dashboards without depth.

That’s where Atlas Systems steps in. For over two decades, Atlas has been helping enterprises streamline their vendor risk programs. They’ve worked across healthcare, BFSI, life sciences, and manufacturing industries where missing a vendor red flag can mean fines, lost contracts, or worse.

Atlas Systems acts like an extension of your internal compliance and procurement teams, giving you the tools, support, and process frameworks to track third-party risks from day one.

Here’s how it helps:

Centralized risk profiles: Whether you're onboarding a vendor or conducting your annual reviews, Atlas builds living profiles with continuous updates.
Custom workflows: Atlas lets you design workflows based on your policies, approval hierarchies, and risk thresholds, so it fits right into your current operations instead of forcing you to change them.
Real-time alerts: When something changes, like new legal disputes, failed assessments, or cybersecurity red flags, you hear about it immediately. You don’t need to discover issues during an audit or six months too late.
Audit-ready reporting: Every touchpoint, every decision, and every vendor change is tracked with timestamps and context. When auditors ask questions, you’ve got the receipts all in one place.
Expert support: Atlas doesn’t leave you to figure out implementation on your own. Our team helps with setup, trains your people, and stays around to tweak or scale things as your needs evolve.
Cybersecurity solutions: Our Cybersecurity solution enables you to align security practices with business risk. It ensures complete visibility into your IT risk posture and compliance with leading security frameworks.
Third-Party Risk Management (TPRM): Manage vendor risks more efficiently with Atlas's Third-Party Risk Management solution. Atlas gives you a complete view of third-party exposure.

2. Pirani

Pirani is built for teams that need to manage operational risk, internal controls, and compliance without getting buried in complexity. It gives you a centralized platform to log risks, test controls, conduct audits, and track incidents, all in a structured, clear, and regulator-ready way.

Pirani delivers what compliance, risk, and audit teams need like the tools that help them do the work, stay accountable, and prove it when required.

Standout features

All-in-one risk platform: Pirani covers operational risk, compliance, information security, anti-money laundering, and audit management in one place. No need to juggle multiple tools or spreadsheets.
Real-time monitoring and alerts: Set up indicators and get immediate alerts for any anomalies. Stay ahead of potential issues before they escalate.
Customizable workflows: Tailor risk assessment and mitigation processes to fit your organization's needs and compliance requirements.
Mobile access: Report incidents and access risk data on the go with Pirani's mobile-friendly platform.

3. LogicGate Risk Cloud

LogicGate’s Operational Risk Management solution is built for teams that are tired of chasing risk data across spreadsheets, emails, and siloed systems. It gives you one clear space to track, prioritize, and act on operational risks.

You can customize how risks are scored, who owns what, and how reviews are escalated without having to file IT tickets or wait for vendor support. It’s flexible enough for fast-moving teams but structured enough to support audits, reporting, and compliance with confidence.

Standout features

Centralized risk visibility: Consolidate risk data across departments, providing a unified view that aids in identifying and addressing potential issues promptly.
Automated risk assessments: Streamline the Risk and Control Self-Assessment (RCSA) process with automation, reducing manual efforts and increasing efficiency.
Customizable workflows: Adapt workflows to fit your organization's needs, ensuring that risk management processes align with existing operations.
Role-based dashboards: Provide stakeholders with tailored dashboards that present relevant risk information, facilitating informed decision-making.

4. MetricStream

MetricStream offers one of the most mature, enterprise-ready platforms for operational risk management. What makes MetricStream different is its depth. It is purpose-built for industries like banking, insurance, energy, and healthcare, where compliance isn’t optional and the risk landscape changes daily. You can log, quantify, and prioritize risks, run full RCSAs, track loss events, and set thresholds on KRIs and KPIs with precision.

Standout features

Centralized risk repository: This repository consolidates risk data across departments, providing a unified view that aids in identifying and addressing potential issues promptly.
Risk control self-assessment: Plan, schedule, and perform risk and control assessments easily. Evaluate inherent and residual risks both quantitatively and qualitatively.
Loss event management: Capture, analyze, categorize, and remediate internal risk events and losses across multiple impacted organizations in compliance with industry regulations like the Basel Accords.
Dynamic key metrics monitoring: Measure and closely monitor key indicators for risks (KRIs), controls (KCIs), and performance (KPIs). Set thresholds to identify potential threats and mitigate them in advance.

5. Hyperproof

Hyperproof is laser-focused on making risk and compliance work together. If you’re tired of juggling spreadsheets, GRC tools that are stuck in audit mode, or siloed risk registers, Hyperproof gives you a platform where risk, compliance, and internal controls can actually talk to each other.

Hyperproof lets you map risks to compliance frameworks, assign mitigation owners, and automate follow-ups so nothing falls through the cracks. And unlike rigid legacy systems, it adapts easily as your programs grow, whether you're adding new frameworks, business units, or global regulations.

Standout features

Centralized risk register: Hyperproof provides a unified risk register where organizations can document and track risks, assign ownership, and monitor mitigation efforts.
Automated workflows: The platform enables risk assessment and mitigation workflow automation, reducing manual tasks and improving efficiency.
Integration with compliance frameworks: Hyperproof supports the mapping of risks to various compliance frameworks, facilitating a cohesive approach to risk and compliance management.
Real-time dashboards: Users can access real-time dashboards that provide insights into the organization's risk posture, helping stakeholders make informed decisions.

6. Ncontracts

Ncontracts is an operational risk management tool designed specifically for banks, credit unions, and other regulated institutions that need to manage risk without becoming overly complex.

Ncontract’s primary focus is on connected risk visibility. Instead of spreadsheets, scattered software, or disjointed reports, you get a system that actually reflects how financial organizations operate. From pre-built risk assessments to real-time dashboards, Ncontracts helps you see the complete risk picture, assign accountability, and take action before issues escalate.

Standout features

Integrated risk management: Ncontracts' platform combines risk, vendor, compliance, and findings management solutions, enabling a unified approach to risk management.
Customizable risk assessments: Leverage over 50 pre-built, configurable model risk assessments and hundreds of risk controls to tailor the platform to your institution's specific needs.
Enhanced collaboration: Foster alignment and accountability across all levels of the organization to break down silos and ensure a cohesive risk management strategy.
Expert support: Benefit from Ncontracts' team of compliance experts who provide ongoing support, from implementation to tailoring the platform to your unique requirements.

7. Workiva

Workiva connects your operational risk framework directly to your audit, compliance, and ESG workflows in one platform. Real-time dashboards, automated control testing, and embedded collaboration let everyone, from risk owners to leadership, see what’s at stake and take action fast.

Standout features

Centralized risk repository: This repository consolidates risk data across departments, providing a unified view that aids in identifying and addressing potential issues promptly.
Automated risk assessments: Streamline the RCSA process with automation, reducing manual efforts and increasing efficiency.
Real-time monitoring: Utilize KRIs to monitor risk levels continuously, enabling proactive responses to emerging threats.
Customizable workflows: Adapt workflows to fit your organization's needs, ensuring that risk management processes align with existing operations.
Role-based dashboards: Provide stakeholders with tailored dashboards that present relevant risk information, facilitating informed decision-making.

8. Resolver

Resolver is risk management software that connects incidents, risks, controls, and compliance into one live system. It helps you respond, recover, and prevent faster than traditional GRC tools ever could.

Resolver gives you a real-time operational picture. Your teams aren't left guessing if there’s an outage, security breach, or supplier failure. You see what’s impacted, who’s responsible, and what steps are in place, mapped to business-critical operations.

Standout features

Full-spectrum risk intelligence: See the business-wide impact of risks across operational, financial, compliance, and reputational areas.
Integrated risk and audit tools: Manage enterprise risk, internal controls, internal audit, business continuity, IT risk, and third-party risk in one connected platform.
Advanced compliance management: Support regulatory, pharmaceutical, and IT compliance efforts, including whistleblowing and case management—making it easier to stay audit-ready and policy-aligned.
Enterprise security and investigations: Centralized tools for managing incidents, enterprise investigations, threat assessments, and real-time situational awareness through a dedicated Command Center.

9. Archer

Archer is built for large, regulated organizations that must manage risk with depth, consistency, and visibility. What sets Archer apart is how it unifies all your risk data, workflows, and reporting into one platform that scales with your complexity.

Archer provides the infrastructure to treat risk management as a coordinated, ongoing discipline because enterprise resilience demands it.

Standout features

All-in-one platform with 20+ risk use cases: Archer consolidates IT risk, operational risk, audit, compliance, ESG, and vendor risk in a single system. You won’t need five different tools stitched together with manual workarounds.
Customizable without developer dependency: Archer’s no-code configuration lets risk and compliance teams independently adapt forms, rules, and workflows.
Risk-mature organizations: Archer is used by enterprises in financial services, energy, healthcare, and government. It’s for companies that need to be audit-ready at all times.
Quantitative risk insights: Go beyond heatmaps. Archer enables risk quantification so business leaders can see how threats translate to dollars.

10. AuditBoard

AuditBoard is built for modern audit, risk, and compliance teams tired of clunky legacy systems and patchwork solutions. It streamlines everything from SOX and internal audits to enterprise risk and ESG reporting on an intuitive, collaborative platform that is ready to scale.

Standout features

Purpose-built for GRC teams: Not a generic workflow platform. AuditBoard was designed with audit, SOX, and risk teams in mind—so the workflows, controls, and documentation flow fit how these teams operate.
SOX and compliance powerhouse: AuditBoard leads in SOX compliance for a reason. It simplifies walkthroughs, automates testing, and manages PBC requests. It is ideal for public companies and IPO-ready startups.
One connected environment: One system for risk assessments, audit findings, control testing, and ESG reporting.

11. Strike Graph

Strike Graph is built for growing companies that repeatedly prove trust. It simplifies the process with a modular platform that automates the heavy lifting and helps you stay audit-ready year-round.

What sets it apart is how quickly you can get started, how clearly it shows what needs to be done, and how easily it supports multiple certifications in parallel. It helps with risk assessments, policy creation, evidence collection, and auditor collaboration.

Standout features

Compliance without consultant dependency: Strike Graph is built to reduce the need for outside consultants. It provides a guided workflow that breaks down frameworks into actionable steps your internal team can own.
One platform for multiple certifications: With Strike Graph, you can manage SOC 2, ISO 27001, HIPAA, and more.
Built-in risk and control mapping: The platform helps you define controls based on your risk profile, not boilerplate templates. It aligns controls across standards, so you don’t duplicate work for every audit.
Audit readiness: Evidence collection, policy management, and testing workflows are baked in. Strike Graph keeps you prepared not just for this year’s audit

12. LogicManager

LogicManager helps you identify, assess, and treat risks by connecting them to your business processes, departments, and third-party relationships. It centralizes risk, compliance, audit, and vendor data so you can see how one issue affects others without switching between tools.

You can build workflows, risk assessments, assign tasks, and generate reports in one place. The platform helps you prioritize based on actual risk impact, automate follow-ups, and stay audit-ready with minimal manual tracking.

Standout features

Risk ripple analytics: This approach utilizes AI-powered tools to identify hidden risks, promote cross-departmental collaboration, and prevent minor issues from escalating.
Integration capabilities: Seamlessly connects with over 500 third-party applications, including Workday, DocuSign, and Office365, enhancing data centralization and efficiency.
Comprehensive reporting: This service provides interactive dashboards, heat maps, and risk matrices, facilitating informed decision-making and stakeholder communication.
Cloud-native deployment: Hosted on Oracle Cloud Infrastructure, ensuring scalability, security, and compliance with data sovereignty requirements.

13. risk3sixty

risk3sixty helps companies manage multiple compliance frameworks like SOC 2, ISO 27001, PCI DSS, and HIPAA through one unified system. Their platform, Phalanx, maps shared controls across frameworks so you don’t duplicate work.

From a single dashboard, you can run risk assessments, manage evidence, track vendors, and generate audit-ready reports. Their consulting team also helps you set up and scale your program, ensuring your controls align with real business risks.

Standout features

Multi-framework harmonization: risk3sixty specializes in aligning various compliance standards, such as SOC 2, ISO 27001, PCI DSS, and more, into a cohesive program, minimizing overlap and optimizing resource allocation.
Phalanx GRC platform: Their proprietary platform, Phalanx GRC, offers tools for self-assessment, policy management, vendor risk management, and compliance tracking, facilitating a structured and scalable compliance process.
Expert consulting services: Beyond technology, risk3sixty provides strategic consulting to guide organizations through compliance challenges, ensuring programs are compliant and aligned with business goals.
Continuous monitoring: risk3sixty supports constant monitoring and iterative improvement of compliance programs.

14. NAVEX

NAVEX is different because it brings everything under one roof, such as policy management, risk assessments, whistleblower hotlines, training, third-party risk, ESG, and more. Instead of managing each compliance piece in a separate system (or, worse, a spreadsheet), NAVEX lets you oversee your entire risk and compliance posture from one place.

You get real-time visibility into what’s working, what’s at risk, and where you need to act. For teams responsible for governance and ethics, NAVEX supports a culture of accountability by making it easier for people to do the right thing.

Standout features

Integrated policy and training management: Author, distribute, and track policies alongside role-based training. Employees get the guidance they need, and compliance teams get automated proof of acknowledgment.
Whistleblower hotline and incident management: Built-in reporting tools and case management workflows support anonymous whistleblowing, internal investigations, and resolution tracking.
Third-party risk management: Automate vendor and partner onboarding, due diligence, and ongoing monitoring.
ESG program management: Track environmental, social, and governance metrics using a structured framework. The platform helps streamline data collection, ensure reporting accuracy, and align ESG goals with overall business risk.

15. OneTrust

OneTrust sets itself apart by offering an end-to-end system to manage every domain where trust and risk intersect, privacy, third-party risk, ethics, ESG, AI governance, and compliance.

It’s designed for organizations with complex regulatory requirements, high stakeholder scrutiny, and growing pressure to prove accountability. With OneTrust, teams can automate tasks like consent management, policy distribution, risk assessments, vendor due diligence, and ESG data collection.

Standout features

Trust intelligence platform: Combines risk, compliance, ESG, ethics, and data privacy insights in one dashboard.
Automated privacy management: Streamlines data mapping, DPIAs, DSARs, and consent handling
Third-party risk automation: Centralizes vendor assessments, onboarding, continuous monitoring, and due diligence.
ESG and sustainability reporting: Simplifies ESG data collection, aligns with major frameworks (like GRI and SASB), and prepares audit-ready reports that reduce manual reporting cycles.

Reduce Third-Party Risk with Smarter Operational Risk Management Software

When you're picking a risk management tool, consider whether it fits into how your team works. Many GRC platforms sound great on paper, but things get messy once you try to plug them into your daily workflows. There’s too much setup, too many rigid steps, and not enough flexibility.

That’s why Atlas Systems is in a different league.

It’s simple to roll out, easy for teams to use and helps you stay ahead of risk, especially regarding third-party relationships. You don’t have to keep jumping between systems or chasing updates manually. Everything’s in one place, mapped clearly, and built to scale as your business grows.

What really makes Atlas better is how it cuts through the noise. You’re not stuck configuring a hundred settings just to get started. You get real-time risk visibility, smarter workflows, and tools that make sense whether you’re in compliance, procurement, or operations.

So, if you’re done with clunky GRC tools that slow things down, Atlas offers something better, something that actually supports your business's operations.

Interested? Get on a call with us to know more.

FAQs about Operational Risk Management Tools

1. Which industries rely most on operational risk management companies?

You’ll see these platforms most commonly in finance, healthcare, insurance, and manufacturing, basically, any industry where compliance is non-negotiable and one wrong move can get expensive fast. But honestly, any business dealing with sensitive data or complex operations should be thinking about it.

2. Do operational risk management companies offer third-party risk monitoring features?

Yes, the good ones do. Managing vendor risk is a huge part of operational risk. Most modern tools have built-in features to track, assess, and monitor third-party risks.

3. Are there any free or open-source Operational Risk Management tools available?

There are, but they come with trade-offs. You might save money upfront, but you’ll likely spend more time configuring things or missing key automation. If your risk profile is low, a free tool might be fine. But it's worth investing in a proper solution if you’re scaling or working in a regulated industry.

4. Can small and mid-sized businesses benefit from Operational Risk Management companies?

Yes. The earlier you start building a solid risk process, the easier it is to grow without chaos. Many tools (like Atlas) are flexible enough to work for teams of any size.

5. How often should an organization update or audit its operational risk management software?

Ideally, you should review it at least once a year or whenever there’s a big change in your business. But if your tool has automated monitoring and alerts, it’ll help you stay updated in real time without manually checking everything.