Onspring vs Riskonnect

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Our analysts compared Onspring vs Riskonnect based on data from our 400+ point analysis of Risk Management Software, user reviews and our own crowdsourced data from our free software selection platform.

Product Basics

Onspring is an end-to-end risk management software that integrates governance, risk and compliance, IT service management, business operations, and regulations and framework. It provides complete visibility into an organization’s risk, policies and compliance status. Built-in automation and workflows help optimize risk detection, remediation and prediction procedures. It saves a lot of time and money, both in terms of company resources and potential noncompliance penalties.

The IT service management module provides visibility into IT activities and mitigates costs with strategic initiatives. The third-party risk management module offers real-time coverage of the supply chain.
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Riskonnect is a cloud-based solution to manage enterprise risk, improve efficiency and boost performance. Its reporting and analytics modules integrate insurable and non-insurable risks to correlate their associations and prevent future occurrences. Users can automate routine processes, break down information silos, drive cross-platform collaboration and coordinate risk mitigation. Provides intuitive data visualizations to propel data-driven decisions and transformation.

It compiles all data securely under one roof and provides detection, analysis and response modules against third-party risk, enterprise risk and health and safety risk. Users can monitor the administration of claims, handle legal and corporate compliance, and manage audits and healthcare from one interface.
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$20,000 Annually
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Tailored to your specific needs
$283,000 Annually
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Tailored to your specific needs
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Product Assistance

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Product Insights

  • Real-Time Visibility Into Business Operations: Get insights into the condition of critical processes, including supply chain, risk management, IT services and regulatory compliance. 
  • Optimized Task Assignment: Promote accountability by automatically assigning tasks and risk ownerships. Create a clear hierarchical map of who is in charge of what at all times. 
  • Save Money: Predict risk incidents and lapsed contracts with real-time insights. Devise the most cost-effective contract and business strategies. 
  • Streamlined Contract Negotiations: Negotiate contracts in good faith with live analytics on associated third and fourth-party risk data. 
  • Increased Adaptability: Customize the platform to make it suitable for any use case such as location-based auditing, automation, SOX compliance, HR and legal compliance, and more. 
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  • Enhanced Decision Making: Riskonnect provides real-time data and analytics, enabling businesses to make informed decisions quickly. This leads to better risk management strategies and operational efficiency.
  • Comprehensive Risk Visibility: The software offers a 360-degree view of risk across the organization, identifying hidden exposures and interdependencies. This holistic perspective helps in mitigating risks more effectively.
  • Streamlined Compliance: With Riskonnect, organizations can easily adhere to regulatory requirements and standards. The software automates compliance tasks, reducing the likelihood of errors and penalties.
  • Improved Risk Response Time: The platform's proactive alerts and notifications system ensures that potential risks are identified and addressed promptly, minimizing their impact on the business.
  • Cost Reduction: By identifying and mitigating risks early, Riskonnect helps in avoiding costly incidents. This proactive approach results in significant savings on potential losses and insurance premiums.
  • Enhanced Collaboration: Riskonnect fosters collaboration among teams by providing a centralized platform for sharing information and strategies related to risk management. This improves coordination and the execution of risk mitigation plans.
  • Customizable Reporting: The software offers flexible reporting tools that allow businesses to create tailored reports. These insights can be used to track progress, identify trends, and make strategic adjustments.
  • Increased Operational Resilience: By managing risks effectively, Riskonnect helps businesses to become more resilient. This resilience enables organizations to withstand shocks and adapt to changes in the business environment.
  • Strategic Risk Management: Riskonnect not only helps in operational risk management but also aligns risk management with strategic objectives. This alignment ensures that risks are managed in a way that supports long-term goals.
  • Scalability: The platform is designed to grow with your business, accommodating new risks and compliance requirements as your organization expands. This scalability ensures that Riskonnect remains a valuable tool over time.
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  • Process Automation: Set up automated workflows for a range of procedures, including risk assessments, policy updates, control tests and more. 
  • Risk Register: Connect risks, audits, controls and policies in a centrally accessible risk register for real-time insights. 
  • Task Assignment: Assign tasks and risk ownership based on risk scores, urgency and prioritization for optimal risk mitigation. 
  • Security: Create custom groups, roles and users for permission-based access to core processes. 
  • Compliance: Cross-check the compliance of controls against relevant regulatory standards like SOX, GDPR and NERC. 
  • Analytics: Run advanced analytics on internal and residual risks and generate visual reports by history and heat maps. 
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  • Risk Management Information System: Consolidate system, risk and people data from multiple sources into a single source of truth. Streamline and automate regulatory, risk and incident management processes with custom workflows. Investigate the shifting risk landscape to discover unprecedented insights, hidden relationships and actionable information. 
  • Claims Administration: Integrate incident entry, claims data, people information and compliance status under the same platform. Automate intake processes, documentation management, data entry and validation. Manage indemnity-based benefit plans and return-to-work initiatives in accordance with Official Disability Guidelines. 
    • Electronic Report of Injury: Follow workers’ compensation guidelines in creating and filing the First Report of Injury (FROI) and Subsequent Report of Injury (SROI). Automatically populate entries with existing data. Submit electronic data interchange reports in accordance with standard IAIABC EDI requirements, including SIEDRS. 
    • Data Transformation Services: Clean, process, transform and validate data from multiple external sources used by carriers and TPAs. 
  • Internal Audit: Perform internal audits for operational, compliance, IT and financial processes. Automate task assignment, document management, data deduplication, status reports, data entry, productivity reports and more. Use the intuitive dashboard to create remediation measures and storyboard-driven reports. 
  • Third-Party Risk Assessment: Consolidate all third-party supplier information, including vendor agreements, policies, access credentials and contracts. A dedicated vendor portal tracks documentation, issues, questionnaires and responses. Create point-and-click reports and assign vendor risk scores and overall classification. 
    • Certificate Management: Access all certificates of insurance (COI) through a common portal. Automate compliance management, administration and review of COIs. Issue alerts for vendors with out-of-compliance certifications. 
  • Enterprise Risk Management: Get a 360-degree view of risk with integrated identification, remediation and monitoring. Use the dashboard to track risk assessments based on KPIs and KRIs. Correlate risks and run custom reports with drag-and-drop builders. Set up custom risk thresholds. 
    • Risk Register: Identify vulnerable business processes with a heat map of assessed risks. Categorize risks according to location, business unit or risk score. 
  • Healthcare: Securely manage safety and risk obligations, including enterprise risk, third-party suppliers, compliance, patient safety, provider quality and more. Eliminate information silos and share actionable, accurate and critical data across multiple departments. 
    • Patient Safety: Manage the entire range of patient experience from non-clinical rounding to long-term care. Track incidents throughout the patient lifecycle, capture incidents, send alerts, visualize satisfaction metrics and more. Connect clinical data to corporate and legal regulations. 
    • Provider Quality Management: Streamline the provider accreditation appraisal process for Ongoing Professional Practice Evaluation (OPPE) and Focused Professional Practice Evaluation (FPPE). 
    • Risk and Insurance: Automatically consolidate claims data and categorize entries based on department, specialty, event date, similarity and allegation. Track healthcare and payment history. 
  • Compliance: Manage corporate and legal policies, procedures and requirements. Implement control frameworks and automate assessments, remediation and testing. Link risks to associated assets, processes and patients. Comply with frameworks, regulations and industry guidelines including NIST CSF, HIPAA, COBIT, FDA, SOX, GLBA, ISO 27001 / 27002 / 31000, and more. 
    • Regulatory Change Management: Always keep an eye out for changes in federal and state regulations. Automatically notify key stakeholders and administrators about essential changes. 
    • Content Framework: Import content associated with tens of thousands of controls and regulations via the Unified Compliance Framework. 
    • Corporate Policy Management: Manage corporate policies, reviews, approvals and training with built-in workflows. Categorize based on policy metadata, key dates, domain, title, vendor and other important information. Identify policy violations through continuous surveillance. 
  • Health and Safety: Get a comprehensive view of safety processes, compliance requirements, hazard data and workplace incidents to spot trends and warning signs. Leverage easy-to-use screens, anonymous entry, web-based access and intuitive forms to streamline the incident reporting process. Automatically alert incident investigators and transfer data across channels with preloaded protocols. 
    • Claims Regulatory Compliance: Use existing safety data to track deadlines and reportable incidents in real time. Create timelines for critical reports. 
    • Audit: Continuously evaluate the status of existing incident reports and compare results against past audit scores. 
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Product Ranking

#37

among all
Risk Management Software

#42

among all
Risk Management Software

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Analyst Rating Summary

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Reports and Dashboards
Risk Management
Regulatory Management
Policy Management
Operational Risk Management and IT Security
Compliance
Policy Management
Regulatory Management
Reports and Dashboards
Risk Management

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Onspring
Riskonnect
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Audit Management Business Continuity Management Compliance Incident Management Operational Risk Management And IT Security Platform Capabilities Policy Management Regulatory Management Reports And Dashboards Risk Management Vendor Risk Management 91 89 86 67 93 64 96 98 100 100 83 85 56 100 79 94 97 100 100 100 98 67 0 25 50 75 100
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User Sentiment Summary

Excellent User Sentiment 57 reviews
Great User Sentiment 12 reviews
95%
of users recommend this product

Onspring has a 'excellent' User Satisfaction Rating of 95% when considering 57 user reviews from 1 recognized software review sites.

82%
of users recommend this product

Riskonnect has a 'great' User Satisfaction Rating of 82% when considering 12 user reviews from 2 recognized software review sites.

n/a
4.0 (2)
4.75 (57)
n/a
n/a
4.1 (10)

Awards

Onspring stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

SelectHub research analysts have evaluated Riskonnect and concluded it earns best-in-class honors for Compliance, Policy Management and Regulatory Management.

Compliance Award
Policy Management Award
Regulatory Management Award

Synopsis of User Ratings and Reviews

Intuitive Interface: Users praise Onspring's user-friendly design, finding it easy to navigate and use for tasks like creating risk assessments and generating reports.
Flexible and Customizable: Users appreciate the ability to tailor Onspring to their specific needs, such as configuring workflows and creating custom fields for risk data.
Strong Reporting Capabilities: Onspring's reporting features are well-regarded, enabling users to easily generate insightful reports on risk data, which aids in decision-making.
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Centralized Risk Management: Riskonnect provides a centralized platform to manage various risk types, including operational, IT, third-party, and compliance risks. This allows organizations to gain a comprehensive view of their risk landscape and make informed decisions.
Customizable and Scalable: The platform's flexibility allows organizations to tailor it to their specific needs and risk management processes. As businesses evolve, Riskonnect can scale to accommodate growth and changing requirements.
Improved Reporting and Analytics: Riskonnect offers robust reporting and analytics capabilities, enabling organizations to generate insightful reports, identify trends, and track key risk indicators. This data-driven approach facilitates better risk management decision-making.
Enhanced Collaboration: The platform fosters collaboration among risk management teams, departments, and stakeholders. It streamlines communication, facilitates information sharing, and promotes a more coordinated approach to risk management.
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Reporting Limitations: Users have expressed frustration with the reporting functionality, citing limitations in customization and the inability to easily extract specific data points for analysis.
User Interface Complexity: The platform's user interface has been described as complex and not intuitive, requiring extensive training to navigate effectively. This complexity can lead to decreased user adoption and productivity.
Limited Flexibility for Risk Assessments: Some users have found the platform's risk assessment capabilities to be somewhat rigid, lacking the flexibility to accommodate unique organizational needs and risk methodologies.
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Usability Challenges: The platform's interface can feel clunky and outdated, leading to a steep learning curve for new users. Common tasks, like generating reports or navigating between modules, can be more cumbersome than anticipated.
Performance Issues: Users occasionally experience slow loading times and system lags, especially when dealing with large data sets or complex workflows. This can hinder productivity and cause frustration, particularly for time-sensitive risk management tasks.
Customization Limitations: While Riskonnect offers some degree of customization, users may find it restrictive when tailoring the platform to their specific needs and workflows. This can lead to workarounds and inefficiencies as users try to adapt the system to their unique requirements.
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Is Onspring the software that will help your business to not only spring forward but also leap ahead of the competition? Users describe Onspring as a flexible and user-friendly platform that excels in centralizing risk management information, making it easier to track and improve processes. For example, users praise Onspring's ability to connect risks to other business operations, such as network management, providing a holistic view of potential vulnerabilities. However, a recurring criticism is the price tag, which some users find steep, especially compared to alternatives like LogicManager or OneTrust. Despite this, users highlight Onspring's no-code environment as a key differentiator, empowering non-technical personnel to build and customize workflows without relying on IT, a factor greatly appreciated by smaller teams with limited IT resources. Ultimately, Onspring appears best suited for organizations, particularly those with lean teams, seeking a comprehensive, customizable, and user-friendly risk management solution, but who are also prepared to make a significant financial investment. However, businesses prioritizing cost-effectiveness might find other options more appealing.

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Can Riskonnect help you reconnect with a sense of control over your organization's risk landscape? User reviews from the past year suggest that it can, particularly for those seeking a comprehensive and integrated approach to risk management. Users praise Riskonnect for its user-friendly interface and robust features, highlighting its ability to centralize risk data, streamline risk assessment processes, and facilitate informed decision-making. For example, the software's bow tie analysis feature allows users to visually map out the causes and consequences of potential risks, enabling proactive risk mitigation. This comprehensive approach sets Riskonnect apart from competitors that may focus on only specific aspects of risk management. However, some users have noted that the initial setup of Riskonnect can be complex and the software can be expensive. These drawbacks may make it less suitable for smaller organizations with limited budgets and technical expertise. Overall, Riskonnect appears to be best suited for larger organizations with complex risk profiles and the resources to implement and manage a sophisticated risk management solution. Its ability to integrate risk information across different departments and provide a holistic view of organizational risk makes it a valuable tool for enterprises seeking to enhance their risk management posture.

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