Cybersecurity risk management tools in Cyber Security Software plays an imperative role in securing a company’s or individual’s cyber security as well as preserving their privacy.
In a nutshell, cybersecurity refers to the way in which a network, system, or application is protected from cyber-attacks by providing additional security measures.
Cyber security tools are mainly used to prevent unauthorized access to data, cyberattacks, and identity thefts from occurring on a regular basis.
An organization’s ability to recognize, control, and mitigate cyber risks is greatly enhanced by cybersecurity risk management tools.
In terms of risk management strategies and data security, they are crucial components of any strategy relating to those topics.
Nowadays there is a greater reliance on connected systems in modern businesses and organizations to operate their business, and this evolution is becoming increasingly complex in terms of security.
While the digital landscape of risks keeps expanding and progressing, it is wise to recognize that you could face new cyber threats as a result.
The concept of cyber security risk management refers to a solution that aims to prioritize threats in order to mitigate them.Â
In short, a cybersecurity risk management program is primarily used by organizations and companies, as they implement this approach to secure their IT networks and respond fast to multiple critical threats.
An effective cybersecurity risk management process involves a variety of processes that interact with one another.
However, to make it simpler it’s divided into four key stages, and here below we have mentioned those stages:-
1. Identifying risk
2. Assess risk
3. Review controls
4. Control risk
In order to manage uncertainty, risk management tools are an effective way of addressing several aspects of the issue, including:-
1. Identification
2. Generation
3. Parameterization
4. Prioritization
5. Development of responses
6. Monitoring of the risks
It means that for an organization to be able to mitigate cyber threats effectively, it depends on these cybersecurity risk management tools.Â
What does it imply? It signifies that without these tools it’s completely impossible to mitigate such threats.
In an effort to improve cybersecurity vigilance for your organization, these cybersecurity management tools deliver quantifiable techniques, strategies, and ready-to-use tactics.
In an effort to improve cybersecurity vigilance for your organization, these cybersecurity management tools deliver quantifiable techniques, strategies, and ready-to-use tactics.
A comprehensive cybersecurity management system is vital for decision-makers since it enables them to make accurate choices based on the information that they possess.Â
Not only that, but this approach also enables them to implement proper security measures.
The first step which a business must take to determine if it is vulnerable to cyber-attacks is to conduct a cyber-risk assessment to assess the level of vulnerability that a business faces and the risks associated with cyber-attacks.Â
In such cases, it is imperative to implement a proper Cybersecurity Management approach to ensure the network’s safety.
With the security risk management strategic plan, users can find and fix issues in an effective way. And it also became easy to implement the best security measures with the help of monitored security results.
SRMP (Strategic Security Risk Management Plan) is an essential foundation that outlines the issues that are pertinent to an organization from the viewpoint of security risk management.
With the help of Strategic Security Risk Management Plans, security companies make their way to a broader range of organizations.
Cybersecurity Risk Management Tools & Key Features
| Cybersecurity Risk Management Tools | Key Features |
| 1. ZenGRC | 1. Audit management 2. Automated audit evidence collection 3. Compliance management 4. Contract management 5. Routine compliance |
| 2. Active Risk Manager | 1. Compliance Management 2. Audit Management 3. Internal Controls Management 4. Risk Assessment 5. Legal Risk Management |
| 3.ManageEngine Log360 | 1. Logs from different places are brought together in one place. 2. Live tracking of events makes it easy to act quickly. 3.Immediate alerts about possible threats. 4. Finding out when a user does something strange. 5. Easy access to certain log entries. |
| 4. Pathlock | 1. Improve decision-making capabilities 2. Centralization 3. Better performance 4. Integrated view 5. Control and Visibility |
| 5. Resolver Risk Management Software | 1. Enterprise management 2. Security risk management 3. Internal audit 4. Vendor risk 5. IT risk management |
| 6. Risk Management Studio | 1. Audit Management 2. Business Process Control 3. Compliance Management 4. Corrective and Preventive Actions (CAPA) 5. Internal Controls Management |
| 7. CheckIt | 1. Safety inspections 2. Quality audits 3. ESG assessment 4. Supply chain management 5. Security management |
| 8. CURA Enterprise Risk Management | 1. Support for multiple methodologies 2. Support for several frameworks 3. Risk management 4. Ensure compliance with regulations 5. Real-time visibility |
| 9. Enablon | 1. Data Virtualization 2. Text Analysis 3. Business Intelligence 4. Enterprise Search Software 5. Predictive Analytics |
| 10. Isometrix | 1. Internal Controls Management 2. Risk Assessment 3. Alerts & Notifications 4. Compliance Management 5. Corrective and Preventive Actions (CAPA) |
10 Best Cybersecurity Risk Management Tools 2023
- ZenGRC
- Active Risk Manager
- Cloud GRC
- Pathlock
- Resolver Risk Management Software
- Risk Management Studio
- CheckIt
- CURA Enterprise Risk Management
- Enablon
- Isometrics
Let’s look at the Cybersecurity Risk Management Tools and their features.
1. ZenGRC
There are two types of GRC management solutions available for organizations, and they are most commonly known:-
- Cloud-based
- On-premise
But, ZenGRC is extraordinary in terms of these two availability options.
This GRC solution is available in both options for the organizations.
Business owners of all sizes from all types of industries can benefit from this GRX solution, including:-
- IT
- Technology
- Retail
- Consumer goods
- Health care
- Finance
With the help of this solution admins controlling the audit and compliance section can dramatically reduce the risk and errors revolving around the compliance and brand.
There are several features that the solution offers, which make it suitable for a variety of industries.
It is also possible for users to automate processes related to compliance within the application by using the workflow module.
The project solution offers an audit module that can be utilized in conjunction with the compliance reporting and data collection functions for the purpose of commenting on controls.
Features
- ZenGRC delivers tools to help organizations discover, assess, and mitigate risks.
- The software assists businesses in managing compliance with multiple regulatory frameworks and standards.
- Businesses can use the program to manage compliance with numerous regulatory frameworks and standards.
- The software can help to speed up the auditing process.
Pros and Cons
| Pros | Cons |
|---|---|
| Excellent support | Less reporting and visual features |
| Offer a robust audit management system | Confusing UI |
| Extensible product roadmap |
2. Active Risk Manager
Active Risk Manager is one of the most comprehensive risk management solutions.
With this solution, enterprises can manage risk from a corporate level to a project level or from an operational level.
This security solution is best suited to medium to large-type businesses for significant risk management.
Active Risk Manager comes with a cloud-based platform that provides several tools and here below we have mentioned the key ones:-
- Comprehensive auditing
- Security controls
- Incident management
- Configurable risk alerts
Users of this security solution also get the option to report accidents across a wide range of projects via the ARM SNAPPit mobile incident management module.
Features
- Through comprehensive risk assessments, ARM enables organizations to identify and understand hazards.
- The program provides a consolidated risk register where firms may document and manage the hazards they have found.
- ARM aids in the creation and implementation of risk management plans.
- The tool facilitates risk monitoring and measurement using Key Risk Indicators.
Pros and Cons
| Pros | Cons |
|---|---|
| Offers excellent project-supporting facilities | Less interactive UI |
| Simulates quantitative data with ease |
Active Risk Manager Demo/Trial
3.ManageEngine Log360
Log360 is a SIEM or security analytics solution that helps you combat threats on-premises, in the cloud, or in a hybrid environment.
It also helps organizations adhere to compliance mandates such as PCI DSS, HIPAA, GDPR, and more.
You can customize the solution to cater to your unique use cases and protect sensitive data.
With Log360, you can monitor and audit activities that occur in your Active Directory, network devices, employee workstations, file servers, databases, Microsoft 365 environment, cloud services, and more.
Log360 correlates log data from different devices to detect complex attack patterns and advanced persistent threats.
The solution also comes with machine learning-based behavioral analytics that detects user and entity behavior anomalies and couples them with a risk score.
The security analytics are presented in the form of more than 1000 pre-defined, actionable reports.
Log forensics can be performed to get to the root cause of a security challenge.
The built-in incident management system allows you to automate the remediation response with intelligent workflows and integrations with popular ticketing tools.
The solution can be installed on-premises and is also available on the cloud as Log360 Cloud.
Features
- Log360 can collect logs from many places, such as servers, applications, network devices, and endpoints, and store them all in one place.
- It has real-time log monitoring, so you can keep track of events as they happen.
- This makes it easy to spot strange things and security incidents.
- Log360 can send alerts based on rules or thresholds that have already been set.
- This helps organizations respond quickly to possible security threats.
- It has advanced security information and event management features that let events from different sources be correlated so that complex attack patterns can be found.
| Pros | Cons |
|---|---|
| Comprehensive Log Management | Integration Complexities |
| Built-in Compliance Support | Support Variability |
| Access Control Monitoring | Advanced Analytics |
| Active Directory Integration | Limited Cloud Focus |
ManageEngine Log360 – Trial / Demo
4. Pathlock
In this Cybersecurity Risk Management Tool, the solutions provided by Pathlock are trusted by thousands of customers across the globe for automating key access control and security features.
Below you will find a list of some of the most important features it provides in addition to its many other features:-
- Access control management and user certification
- The quantification of risk for the reporting of SODs
- Defining and provisioning the roles of users
- Management of vulnerabilities in applications
It is no surprise that the world’s leading companies trust Pathlock with their security needs.
This program reduces fraud and identifies inefficient processes in order to Put Money Back on the Books.
Features
- Pathlock continuously analyzes data access activity for both structured and unstructured data sources.
- Machine learning algorithms are used by the platform to discover abnormalities and unexpected patterns in data access and usage.
- Pathlock monitors user behavior and creates baseline patterns for each individual.
- Organizations can use the platform to develop and enforce data access policies.
Pros and Cons
| Pros | Cons |
|---|---|
| Robust automation system | High Cost |
| Provides well-groomed support | Less efficient support |
| Excellent audit system |
5. Resolver Risk Management Software
As one of the largest risk management software companies in the world, Resolver provides businesses across a wide range of industries and business needs with a cloud-based solution to manage risk.
With the help of a single solution, you would be able to do the following essential things:-
- Manage risk aversion
- Manage mitigation plans
- Manage budgets
- Manage forecasts
One of the purposes of Cybersecurity Risk Management Tools is to help link risk and incident assessments so that they can be linked to what actually happened at the time.
In order to help you resolve disputes, Resolver uses cloud-based software and is compatible with desktops, tablets, and smartphones.
Features
- The program enables businesses to discover and assess risks in several areas of their operations.
- Resolver makes it easier to establish and implement risk-mitigation solutions.
- The software has customized reporting and dashboard options to better visualize and discuss risk information.
- Resolver contains capabilities for recording and managing occurrences and risk issues.
Pros and Cons
| Pros | Cons |
|---|---|
| Extremely customizable | Other aspects of this software are not intuitive |
| very knowledgeable support team and developers | Slow operation |
| cost-effective product |
6. Risk Management Studio
Companies and institutions are choosing to take an integrated approach to risk management through Risk Management Studio, which is a well-renowned Cybersecurity Risk Management Tool.
There are many ways to manage risk in your organization.
Still, IRMF software provides you with a comprehensive list of tools and solutions to help you manage these processes, procedures, and policies effectively.
A company’s compliance with third-party requirements can be seen as its willingness to implement and adhere to those requirements.
In terms of the Integrated Risk Management framework, RM Studio presents a turnkey solution that provides an efficient, holistic, and standardized approach to managing risks.
Features
- The program enables businesses to systematically detect and assess hazards.
- Risk Management Studio makes it easier to develop and implement risk mitigation solutions.
- Risk Management Studio simplifies the development and implementation of risk reduction solutions.
Pros and Cons
| Pros | Cons |
|---|---|
| Excellent operational risk management | Pricey |
| Offers robust internal controls management | Slow support resolutions |
| Corrective Actions (CAPA) | Extremely fewer options available in a free trial |
Risk Management Studio Demo/Trial
7. CheckIt
In Cybersecurity Risk Management Tools, There’s no other platform on the market that captures all the activity of your frontline staff like Check it.
Through healthier work environments and happier staff, you can improve safety, compliance, and productivity and keep your employees from becoming cyber threat targets.
In addition to powering digital safety systems, the Operations Management Platform, CheckIt also gives the operators greater control over their operations in real-time.
In order to help businesses of any size, the smart cloud-based technology of CheckIt allows each of the following tasks to be performed:-
- Manage people
- Manage processes
- Manage compliance
Features
Users can create and manage tasks, as well as assign due dates, priorities, and labels to them.
Pros and Cons
| Pros | Cons |
|---|---|
| Easy-to-implement setup | High priced |
| Dynamic workflows | Complex UI |
| Automated alerting |
8. CURA Enterprise Risk Management
It is no secret that CURA is one of the best web-based solutions on the market when it comes to Cybersecurity risk management. Through the use of an integrated set of internal controls, it assists businesses in ensuring compliance and managing risk.
There are several solutions offered by CURA Software that help to manage the following key things:-
- Enterprise risks
- Project risks
- Incidents
- Business continuity
- Compliance
- Operational risks
- Information security
On the basis of the cloud-based platform, the applications in CURA can be integrated together to form a GRC system within the organization as a whole.
Features
- Organizations can use the software to discover, assess, and prioritize risks.
- CURA ERM makes it easier to establish and implement risk-mitigation strategies.
- The program provides a single repository for the maintenance and management of risk registers and libraries.
- CURA ERM allows you to assign risk scores or ratings based on established criteria.
| Pros | Cons |
|---|---|
| Easy to implement | Lack resources |
| UI is very intuitive | Crash issues |
| Excellent support attentiveness | Delays with NG surveys |
9. Enablon
In addition to managing the environmental, EHS, and safety aspects of an organization, Enablon provides a cloud-based solution to track how resources are used in an organization.
Users of Enablon software can create action plans and track the progress of their actions using the reporting tools that Enablon has built-in.
It comprises a comprehensive set of tools that help businesses manage environmental, health, and safety risks, as well as operational risks in order to promote sustainability and efficiency within their business.
Furthermore, Enablon reduces costs and improves efficiency by providing robust data-driven decisions and efficient resource utilization.
Features
- Enablon provides solutions for managing many elements of environmental, health, and safety compliance and performance.
- The program lets businesses to discover, analyse, and manage risks in several areas of their operations.
- Enablon assists organizations with tracking and managing their sustainability projects.
- Enablon provides compliance management tools to assist enterprises in adhering to applicable legislation, standards, and permits.
| Pros | Cons |
|---|---|
| Robust EHS Management | No free trial |
| Mobile Capabilities | Not for small and medium size businesses |
| Superb performance |
10. Isometrix
A leading provider of Cybersecurity risk management software, IsoMetrix is a technology company that has been trusted by multiple global brands for over 25 years and it provides solutions for the following areas:-
- EHS management
- ESG management
- GRC management
Unlike many organizations, IsoMetrix believes that it is possible to obtain powerful and wide-ranging benefits from properly managing governance, risk, and compliance.
By utilizing a single integrated system instead of multiple-point solutions they isolated and refined their risk management system.
Embracing a unified approach to risk management, enabling clients to be proactive in managing risk.
Features
- Isometrix delivers solutions to help organizations discover, assess, and manage risks.
- Compliance with regulatory regulations, industry standards, and corporate policies is facilitated by the program.
- The program facilitates compliance with regulatory requirements, industry standards, and corporate policies.
- Isometrix facilitates the planning, execution, and tracking of audits and inspections.
| Pros | Cons |
|---|---|
| Refined functionalities | No free trial |
| Intuitive UI | Fewer support mediums |
| Compatibilit |
Conclusion
In order for your business to achieve its overall cybersecurity goal effectively, the quality of your cyber risk assessments is essential. As a consequence, cyber threats have continued to increase in complexity over the years.
In short, the addition or adoption of cybersecurity management tools is crucial nowadays to ensure the proper functionality of a business or organization.
All these risk management solutions from eminent cyber security companies provide a valuable means of managing risks proactively.
While to make it simple, we have compiled this list with a variety of Cybersecurity Risk Management Tools, and this list will help you in selecting the best tool that suits your needs.
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