Risk Management Software helps businesses counter, prevent and manage legal, financial, operational or regulatory risks incurred. This software equips businesses with tools to prevent and minimize risks by keeping track and organizing tasks. These software have some essential features like Risk identification, Risk assessments, Monitoring and testing tools, Reporting, Regulatory compliance, Issue management and Document management.
Risk management software is usually a cloud solution. It empowers businesses through a robust feature list to mitigate risks. Few software have more advanced features e.g. self-generating matrix, response and recovery support and collaborative tools.