Riskonnect: GRC Vendor Overview and Insight

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Company Description

Riskonnect was founded in 2007 by Bob Morrell, Antonio Dabraio?and Roger Dunkin. Now a Thoma Bravo portfolio company, it offers a suite of cloud solutions for managing risks across the enterprise. It is privately held and based in Kennesaw, Georgia.

Product Description

The core elements of the Riskonnect GRC platform integrate the governance, management and assurance of performance, risk, and compliance activities. This includes the work done by departments like internal audit, compliance, risk, legal, finance, IT, and HR as well as the lines of business, executive suite and the board. Executive/strategic analytics, built into Riskonnect through Riskonnect Insights, provides intelligence for integrated risk management by surfacing, connecting, visualizing and alerting senior leadership to critical risks. Salesforce Force.com serves as its foundation.

“Comprehensive risk management practices should focus on developing an integrated system that creates a single source of truth to address enterprise risks,” said Quin Rodriguez, Vice President of Strategic Marketing at Riskonnect. “From this approach, we don’t see GRC as evolving into Integrated Risk Management, but instead view it as an integral piece in creating a truly Integrated Risk Management program.”

New Features

In 2017, Riskonnect acquired Aruvio, a cloud-based GRC company to add anti-bribery and enterprise GRC features. In addition, it is releasing a platform update that will align to the new SalesForce Lightning interface.

Markets and Use Cases

Key markets include healthcare, retail, manufacturing, aviation, education and the technology sector. The company’s relationship with Salesforce means it has appeal for those already using Salesforce.com who want to add GRC capabilities.

Analyst View

Forrester classed Riskonnect as a Leader, its top rating signaling a strong product and strategy. Forrester noted that Riskonnect leverages Force.com as a foundation. This means the engineers of Salesforce work to develop and maintain the product’s underlying capabilities. Benefits of this partnership include support for 72 languages, strong workflow, dashboarding and reporting.

Metrics

The company boasts more than 260 clients and 52,000 users in 80+ countries.

Delivery

The GRC platform is cloud-based.

Pricing

Riskonnect charges on a per solution (application) and by user licenses.