10 Best Risk Register Software [2024] With Reviews, Pros & Cons

Risk management is an essential component for any business operating in today’s era to protect itself from cyber threats and continue its operations without interruptions. As a result, the demand for risk register tools has skyrocketed.

A good risk register systematically inventories different types of risks, identifies risk owners, understands the nature of each risk, and outlines mitigation strategies for you. Not having such features can leave your team vulnerable to unforeseeable threats that can disrupt your business.

Given how crowded the market is currently, we have made things easier for you by carefully selecting the ten best risk register software options for 2024. 

The following software will help you streamline your risk management approaches and enhance decision-making. Whether you’re a small startup or an enterprise, this list will help you find the perfect tool to identify, assess, and mitigate risks with confidence.

What is a Risk Register Software?

A risk register is a risk management tool that documents, categorizes and evaluates different types of risks and their potential impacts on the organization, while also establishing and tracking mitigation actions. It assigns an owner to each type of risk, generates in-depth reports and other documentation, and provides a visualization of risk analysis for your business. 

A risk register helps a company create mitigation strategies and assess their effectiveness while setting up automated alerts for high-impact risks. These software typically provide customizable risk matrices and real-time updates and integrate with your existing business processes.

Top 10 Risk Register Software 

While selecting a risk register, keep in mind your business requirements. A risk register designed for enterprises and large businesses may not be as useful for you, if you’re a startup. Furthermore, dig into feature-specific products that cater to your pain points. 

Here’s a curated list of the top 10 risk register software solutions that can empower your team to manage uncertainties effectively and ensure project success. 

At a glance:

Platform	Best suited for	G2 ratings
1. Sprinto	Tech companies requiring GRC (Governance, risk, and compliance) automation	4.8/5
2. Resolver	Enterprise risk management	4.4/5
3. LogicGate	Flexible risk solution	4.6/5
4. OneTrust	Multi-products functionality	4.5/5
5. RiskOptics	Risk management in multiple industries	4.4/5
6. nTask	Project-based risk approach	4.4/5
7. Fusion	Focus on third-party risk management	4.4/5
8. Riskonnect	Mobile risk management	4.0/5
9. LogicManager	Hands-on customer support	4.6/5
10. MetricStream	Global risk environments	3.5/5

1. Sprinto 

Sprinto is a GRC (Governance, risk, and compliance) automation tool that provides a resilient risk management solution and is a top choice as a risk register tool. The platform identifies and analyzes risks according to their impact on your business requirements and common industry standards. 

Sprinto integrates with your existing business tool stack with more than 200 integrations. You can also use the tool’s own API to connect to the software you use on a daily basis to maximize your automation benefits and ensure the monitoring of risks across all security controls. 

Sprinto’s best features as a risk management tool include:

• Comprehensive risk library: Sprinto’s comprehensive risk library allows you to identify security risks across your business’s assets and processes. You can also add custom risks and assign impact scores to create a thorough risk register that truly reflects your reality and removes any ambiguity in assessment.

• Quantitative risk assessments: Sprinto lets you score risks according to their likelihood of occurrence and impact. It lets you accept, reject, or transfer risks according to your business’s requirements. You can also automate risk assessments with periodical review to keep your risk register updated. 

• Continuous monitoring of risks: You can easily map risks to compliance requirements and security controls, run automated checks, and track your system’s health in the risk dashboard. 
• Automted alerts and remediation: Sprinto automatically triggers alerts and remediation workflows whenever any anomaly is detected in your system. It follows up with suggestions on how you can fix those anomalies. 

• Rich risk reports: Sprinto provides you with a detailed risk report that gives you a granular view of your organization’s risk health. You can gauge your risk posture with the summary of all the active risks visually represented in terms of risk identification, impact, mitigation strategies, treatment, and pending tasks. 

Pros:

• The platform has an Intuitive user interface. 
• Sprinto’s centralized dashboard for entity-level risks makes it easy to monitor risks. 
• The product provides vendor risk management to keep a check on due diligence from third parties and monitor ongoing compliance. 
• Sprinto’s customer support team is very responsive and helpful in resolving issues. 
• It integrates with your existing business infrastructure very easily with integrations or API. 

G2 rating: 4.8/5

Capterra rating: 4.8/5

Customer review:

“Sprinto stands out in the realm of security compliance for cloud companies, offering a versatile platform compatible with any cloud setup. Their innovative solution empowers organizations to monitor entity-level risks and controls seamlessly from a centralized dashboard.” (G2 review, Feb 2024)

2. Resolver

Resolver is a risk management solution for mid-size to enterprise organizations. It’s risk register allows users to create detailed risk profiles including risk descriptions, categories, impact, and likelihood. 

Resolver connects risks with business processes to provide a contextual view of risks across the organization. The platform also offers scenario modeling, allowing risk managers to simulate different risk scenarios and their potential impacts on the business.

Pros:

• Resolver has been claimed to be easy to use and beginner-friendly. 
• Resolver’s customer support team is helpful and responsive.
• The platform’s API integration is easy to set up

Cons:

• The product features have a a steep learning curve.
• The reporting feature has been said not to be intuitive. 
• The licensing model is said to be complicated. 

G2 rating: 4.4/5

Capterra rating: 4.4/5

Customer review:

“Very clean UI, our users enjoy using it. Easy to create new applications and build forms and workflow. New dashboards are great and will make a big difference once embedded in the full system. Great support and implementation teams. Responsive to changes and suggestions. Also API integration was easy to set up” (G2 review, Jan 2024)

3. LogicGate Risk Cloud

LogicGate Risk Cloud allows organizations to build customized risk registers aligned with specific business needs. It uses a visual approach to risk mapping to understand risk relationships and dependencies. 

The platform stands out for its flexibility. It streamlines risk assessment and mitigation processes across various departments and stakeholders and provides workflow automation capabilities to reduce manual workload. 

Pros:

• The customer support team of LogicGate is quite responsive.
• The platform allows for extensive customization to cater to user requirements.
• The product is easy to use and is beginner-friendly

Cons:

• The user-experience of the product is not intuitive and hard to understand at times. 
• There is a steep learning curve to the product. 
• The high-end customizations in the product require more set-up time and assistance. 

G2 rating: 4.6/5

Capterra rating: 4.7/5

Customer review:

“LogicGate allows ease of utilization and customization to accommodate the most tech-savvy of those of us who are just moving away from spiral notebooks and pencils. It’s intuitive interface for both use and development allows users to navigate the ever-changing regulatory landscape in real-time.” – (G2 review, March 2024)

4. OneTrust Risk Management

OneTrust Risk Management integrates risk management with privacy and security compliance. This makes it particularly valuable for organizations operating in heavily regulated industries or those dealing with sensitive data. 

OneTrust’s risk register capabilities are complemented by its extensive library of pre-built risk assessments and controls, which can significantly speed up the initial setup process. The platform also offers advanced data discovery and mapping features. It helps large organizations to identify and manage risks associated with data handling and processing.

Pros:

• There are multiple product solutions available with OneTrust.
• OneTrust enables data governance with Artificial Intelligence (AI).
• There are a wide range of features like risk scoring, monitoring, alerting with the risk register.

Cons:

• The platform limits manual uploading of documents.
• The customer service is slow in OneTrust.
• OneTrust does not offer localized or translated UI for various countries.

G2 rating: 4.5/5

Capterra rating: 4.2/5

Customer review:

“OneTrust GRC and security Assurance cloud helping us automate our compliance and risk management through its highly efficient workflows and advanced features to manage and automate regular audit processes.” (G2 review, Oct 2023)

5. RiskOptics

RiskOptics ZenGRC is an easy-to-use GRC platform that focusses on the relationships between risks, controls, and business processes. This relationship-based approach allows for a more nuanced understanding of how risks impact different areas of the business. 

RiskOptics’ risk register capabilities are user-friendly and highly customizable. It provides a beginner-friendly user interface and strong integration capabilities, allowing teams to gather data from various business systems and provide a more comprehensive view of risk.

Pros:

• RiskOptics is available for multiple non-tech industries like finance, healthcare, social, etc. 
• The platform is fairly easy to navigate.
• The product is very customizable according to the users’ requirements.

Cons:

• There is no restriction modules for access control in RiskOptics. 
• There are some limitations to how much you can personalize the dashboard.
• RiskOptics provides limited training modules for users.

G2 rating: 4.4/5

Capterra rating: 4.4/5

Customer review:

“The tool is easy to navigate in and has a lot of flexibility to add custom attributes to each of the data types, particularly when using it as a system of record for compliance-related activities.” (G2 review)

6. nTask

nTask approaches risk management from a project management perspective. It is particularly useful for organizations that manage multiple projects or programs. Its risk register functionality is tightly integrated with its project management tools. 

nTask’s collaborative features are particularly strong, facilitating team-based risk assessments and mitigation planning. Its simplicity and project focus make it an excellent choice for smaller organizations or those primarily concerned with project-related risks.

Pros:

• nTask can be integrated as a project-management tool as well. 
• nTask has a very intuitive interface and is easy to navigate. 
• The product stands out in terms of design as per some customers. 

Cons:

• The platform loads slow when the workload increases.
• There are limited reporting features in terms of risk.
• nTask does not provide comprehensive risk management.

G2 rating: 4.4

Capterra rating: 4.2

Customer review:

“Rai has been amazing with us from day one, he helped us understand how we can make the best out of nTask and helped our whole team with the onboarding too.” (Sasha, Principal Risk Manager, nTask review)

7. Fusion

Fusion combines risk management with business continuity and crisis management. It is valuable for organizations that are looking to build a risk resilient business function. It approaches risk management from a governance perspective. 

Fusion has a third-party risk management module with risk scoring methodologies to align with your specific needs. It analyzes your vendors’ lifecycle with onboarding workfload and end-to-end testing for multiple scenarios. 

Pros:

• Fusion offers business-specific customizations for its customers making the product more personalized. 
• It has an intuitive incident tracking dashboard for efficient risk mitigation.
• The product is easy to navigate and easy to use. 

Cons:

• The product requires an ample amount of time for setup.
• There are limited features in reporting of risks. 
• Fusion’s design of dashboards cannot be personalized as much. 

G2 rating: 4.4

Capterra rating: 4.4

Customer review:

“The aspect that I find most appealing about Fusion Framework System is that it has so many options available. It comprehensively covers all our needs starting from risk management to tracking of incidents.” (G2 review, June 2024)

8. Riskonnect

Riskonnect’s risk register capabilities are enhanced by its application of automation, which can help identify emerging risks and patterns. The platform’s mobile app is particularly useful for organizations with field operations, allowing real-time risk reporting and assessment from any location.

Pros:

• Riskonnect uses quantitative modeling for risks for a more granular approach.
• The platform is very configurable and easy to customize.
• They introduce new features frequently to keep the system updated. 

Cons:

• The implementation of the software is slow and its set up takes time.
• The administrative features are not user-friendly according to some customers.
• The customer support team takes some time to respond. 

G2 rating: 4/5

Capterra rating: 4.6/5

Customer review:

“I have been using this product throughout my various careers for over 10 years and the support and help I have received to make risk management a priority for the business has been very useful. The product itself helps non risk professional understand the outputs via easy to use reports” (Capterra review)

9. LogicManager

LogicManager is an enterprise-grade risk management tool for all kinds of IT and security risks. The platform combines ERM with corporate governance to address business challenges and build customized risk-based solutions.

LogicManager provides services for both tech and non tech businesses like manufacturing, banking, government, healthcare, etc. It also covers business continuity modules along with environmental, social and governance solutions.

Pros:

• LogicManager has been said to be is easy to use.
• The product is supported with great customer serv