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About Essential ERM

Connect Risk, Strategy and Topics for Compliance and ESG. Easiest to Use & Easiest to Setup tool among GRCs.

Learn more about Essential ERM

Pros:

It's user-friendly, intuitive and thorough. Everything works as you should expect, and the risk process has a very good flow.

Cons:

The software is harder to use if your organization has an established process or methodology, as the system has limited customization available.

Essential ERM ratings

Average score

Ease of Use
4.8
Customer Service
4.9
Features
4.5
Value for Money
4.9

Likelihood to recommend

9.1/10

Essential ERM has an overall rating of 4.7 out of 5 stars based on 23 user reviews on Capterra.

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Filter reviews (23)

Verified Reviewer
Verified LinkedIn User
Insurance, 51–200 Employees
Used the Software for: 6-12 months
Reviewer Source

User friendly & supportive team

5.0 6 years ago

Comments: At this time we are not solving any current problems because the software does not have the capability to provide us with management reports in dollars.
Our experience with the software and the people at Tracker Networks has been excellent.
Once reports are generated that are useful to the Board, and our regulators, we will be able to cease using an excel spreadsheet for our risk register. Until then we will continue to populate and manage the manual process - so, unfortunately, we are doubling our work effort.

Pros:

I like that the software is very user friendly. I can navigate easily. The sorting capabilities are appropriate for our business. Whenever I run into a situation customer service promptly investigates and provides guidance. So far we have been using a risk register designed on a spreadsheet. The Bowtie format has made us think about the root cause and mitigation more specifically rather than a broad view/approach.

Cons:

For our business, the Board want us to quantify the risks and impact to the business in dollars. For us to be able to successfully implement using Essential ERM, we need to be able to produce various reports with dollars. ie Top 10 risks; Summary report of all risks; Risk Category; Key Measures Report (which is required for reporting to the regulators).

Peter
Enterprise Risk Consultant in Canada
Government Administration, Self Employed
Used the Software for: 2+ years
Reviewer Source

Essential ERM - Setting the Standard for Strategic Risk Management

5.0 2 years ago

Comments: My overall expereiewnce has been excellent. The Executive and Design Team have bene highly repsonsive to our suggestions for platform enhancements. It has been an incredible journey with the team over the past several years with major benefits to the enterprise risk management world.

Pros:

The software is based on the Bow Tie Methodology and grounded in the ISO 31000. It's core architecture is tied to strategic objective setting with great features for risk appeptite and mitigation tracking. The Essential ERM design and support team are very progressive, creative and repsosnive to industry developments and client needs.The ability to establish risk portfolios for highly diverse and complex organizations with consolidation is a brilliant feature.The risk profiles of individual projects or intiitatives can also managed within Essential ERM.

Cons:

The Essential ERM Team have been highly responsive to requests for improvement in dasboard reporting, voting technology and key risk indicators. The interface capability to industry standard rporting tools such as Power BI has been significantly improved. I can't say at this point I have any major dislikes of the software.

Ahmed
Reviewer in Israel
Accounting, Self Employed
Used the Software for: 1-5 months
Reviewer Source

Comprehensive review

4.0 3 years ago

Pros:

This program is considered very wonderful for several reasons, firstly that it provides new methods in the ways of managing business and institutions and facilitating communication by providing a suitable software environment to complete businessIt and is easy to use and its intervention in the work is very useful

Cons:

There is one thing I did not like that it takes more time than I expected to master it, but after you master it, it will be comfortable to use

Verified Reviewer
Verified LinkedIn User
Hospital & Health Care, 51–200 Employees
Used the Software for: 1+ year
Reviewer Source

Good solution that meets our needs

5.0 5 years ago

Comments: We have multiple organizations working on a large, multi-year shared program. Tool is used to manage the shared enterprise risks; all orgs have access and use it to review and document progress to mitigations.
Also use the tool for other internal risks; the added feature to allow segregation of risks by org or people is helpful.

Pros:

Easy to use and onboard my staff. Did not need a lot of education on how to technically use and navigate the software. Functionality to capture the risk with pre, post mitigation and events is helpful for staff to think through what is important to document for a risk. Appreciate the functionality for risk velocity and other prioritization factors; helps focus our regular reviews. Vendor is open to feedback and enhancing the solution.

Cons:

Reporting is still improving; hard to change our old habits of presenting risks at a meeting without using the tool in the meeting. Like the trending of how a risk is progressing; expect in time it could be presented differently or available in different parts of the application.

Pat
Exexutive Advisor, Corporate Strategy and Risk in Canada
Insurance, 51–200 Employees
Used the Software for: 2+ years
Reviewer Source

Good easy to use Enterprise Riaks Management Application

5.0 2 years ago

Comments: Essential ERM has created efficiencies in our risk tracking and reporting process.

Pros:

Essential ERM is easy to configure and use. Manual processes can be automated to make ERM administration and reporting much more efficient.

Cons:

Transitioning from another application or manual risk tracking requires some effort to enter all of the data for the first time. However, the efficiencies after initial configuration and data entry quickly outweigh the effort and time for initial entry.

Verified Reviewer
Verified LinkedIn User
Banking, 501–1,000 Employees
Used the Software for: Free Trial
Reviewer Source

Essential ERM is straightforward and stregthens the ERM Program

4.0 6 months ago

Pros:

Essential ERM provides a single view of the risks in real time and links to risk appetite and strategies. The indicators are easy to track and monitor. The workflows and other functionalities improve decision making and collaboration. It can be implemented in a very short time (2-6 weeks) even without IT implementation experience and their team is prompt and responsive. Its a must have as risk assessments should be dynamic and risk data are quickly changing. An entity can use every day to know whats top of mind or emerging risks and escalations that must responded to.

Cons:

Because audiences are different, report customizations would help.

Verified Reviewer
Verified LinkedIn User
Management Consulting, 2–10 Employees
Used the Software for: 1-5 months
Reviewer Source

Essential ERM is Fantastic, A Must Use!

5.0 2 years ago

Comments: Allows me to uncover potential problems before they become real issues. Allowing me to plan, prepare, and be more productive!

Pros:

Essential ERM provides a unique outlook on the factors involved with business, clients, and personnel. It allowed me to find issues that I would otherwise have missed, or forgotten about. Not to mention that is super easy to use!

Cons:

Despite the lack of issues with essential ERM, since the program worked great, the part I dislike most is that Essential ERM highlights a lot of the issues, mistakes, or problems that have been hidden from me. Highlighting my issues only shows that the way to improve this part I dislike is solely on me now.

Deryck
CFO in Canada
Computer Software, 51–200 Employees
Used the Software for: 2+ years
Reviewer Source

A great product

5.0 2 years ago

Comments: Risk management. We have many we have to deal with, as a result of the nature of our operation.

Pros:

I found it easy to use, and especially like the way we can integrate it - with our strategy and with our work plans, so it is a living process.

Cons:

Truly, I don't find anything missing. We've had great support, the site is fast and reliable and secure. I like the way they stay on top of the ERM trends and keep improving the product.

Navin
na in Canada
Accounting, 201–500 Employees
Used the Software for: 1+ year
Reviewer Source

Optrimizing Risk information

5.0 6 years ago

Comments: Trying to get a handle on management risk information from across differing entities in the organization proved to be a challenge. The solution was simple to use, efficient and great at reporting. Made an impact on communicating risk information.

Pros:

Ease of use, flexibility, cost, user interface, support team and the innovative mindset of the developers

Cons:

Integration with other assurance functions and reporting seems to be evolving and is still new

Bob
Bob
Chief Operating Officer in Canada
Verified LinkedIn User
Education Management, 51–200 Employees
Used the Software for: 1-5 months
Reviewer Source

Essential ERM implemented a solution and engaged more like a partner than a supplier.

4.0 5 years ago

Comments: We wanted to formalize and create a structure for our risk management process that engaged teams across the organization to easily & effectively add/change/delete risk events, and both assess and manage risk. Essential ERM has proven to be a very cost-effective and adaptable tool to achieve our goal. The company understands the needs of the not-for-profit sector and have been very committed to our success.

Pros:

The software is flexible in meeting our needs and growing with us, as well as encouraging collaboration across our organization. While Essential ERM does provide great training and support, the software is intuitive and easy to pick-up.

Cons:

We are relatively new users, and have not found any issues of concern.

Carol
ERM Consultant in US
Management Consulting, 2–10 Employees
Used the Software for: 1-5 months
Reviewer Source

Easy to Implement for ERM Beginners

4.0 5 years ago

Comments: Using the software gets you out of using spreadsheets, which is a definite plus. The ability to link risks to objectives is important for executives. The support for Essential ERM has been extremely responsive to questions.

Pros:

If you don't have any existing ERM processes, Essential ERM is a great way to jump start a consistent method for identifying and managing risks in your organization. It is easy to use and encourages true understand of the risks so you can address the reason the risk exists, not just the consequence.

Cons:

The software is harder to use if your organization has an established process or methodology, as the system has limited customization available. Ensure that the way the software is built will fit your organization and its needs.

Steve
Director of Finance & Controller in Canada
Insurance, 51–200 Employees
Used the Software for: 6-12 months
Reviewer Source

Tracker Business Partner review

5.0 6 years ago

Comments: The business problems we are solving with ERM is creating engagement with our teams who have responsibility for assessing and documenting risks within our ERM process. Those with little prior experience in SOX or other types of risk evaluation find the tool intuitive, logical and provides the ability to link the outcomes in a more streamlined and visual fashion.

Pros:

The Essential ERM Software is an intuitive dynamic tool that takes a relatively complex subject area and allows the user to simplify the process of risk assessment, quantification and tracking of identified risks. this has been a big help to our team as we look to expand the knowledge base and accountabilities of our team as we look to embed ERM into our orgainzation.

Cons:

At this point we have not identified any significant issues or challenges with the software. The Trackers team has been great at taking feedback and incorporating changes to the product where it makes sense.

Samantha
Enterprise Risk and Audit Director in US
Textiles, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

Essential ERM, excellent customer service and flexibility for ERM processes

5.0 2 years ago

Comments: Fantastic. It is a quality product that was easy to implement and teach to our BUs. Customer service is prompt and extremely helpful.

Pros:

The product is easy to use and to implement.

Cons:

Would love integration with audit software.

Tom
UK Operations Manager in UK
Religious Institutions, 11–50 Employees
Used the Software for: 6-12 months
Reviewer Source

A solid, intuitive, developing risk management tool

5.0 5 years ago

Comments: The customer service, particular from our Account Manager, has been excellent

Pros:

It's user-friendly, intuitive and thorough. Everything works as you should expect, and the risk process has a very good flow.

Cons:

As it is a developing piece of software there are some features that are still to be added, such as the reporting capabilities, but the response to ideas and queries has been excellent, and I'm confident things will continue to grow/improve!

Verified Reviewer
Verified LinkedIn User
Airlines/Aviation, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

Easy to use and focused risk management solution

5.0 2 years ago

Comments: Great team to work with and great tool. The whole process was a breeze, very supportive company.

Pros:

It was the perfect solution to increase our risk management maturity. We have a much clearer view of our program and risk profile after we started using the tool.

Cons:

There could be some more reporting options and report types, but overall it fulfill our needs very well.

Verified Reviewer
Verified LinkedIn User
Financial Services, 10,000+ Employees
Used the Software for: 1-5 months
Reviewer Source

Essential ERM - Your company's 1 stop for everythign ERM

5.0 6 years ago

Comments: Very happy with the tool! Essential ERM helps automate the process which people go through to identify, prioritize and manage the risks of their organizations. It allows both the risk function as well as the front line to understand the ERM framework and provide useful insights. Looking forward to the integration of voting coming soon!

Pros:

Intuitive, easy to use design allowing for very easy customization. Some of the top selling features: -Real-time, web-based and accessible world-wide -Allows users to create and prioritizing custom risks -Automatic follow-up on action items -Automatically creates adjustable and comparable risk heat maps - Uses ERM best-practice a bow-tie approach for individual risks

Cons:

Some functionalities still under development, but this does not alter our use of the tool.

Carolyn
Director, Pension Modernization in Canada
Government Administration, 51–200 Employees
Used the Software for: 6-12 months
Reviewer Source

Essential ERM software review

5.0 5 years ago

Comments: Great.

Pros:

Methodology - Bow Tie. Voting capability. Risk event views. Reporting views. Ability to see and address gaps

Cons:

Big issue - If I have the same action repeated for several risks it shows up as different actions. Minor issue - Lack of printable /sharable risk event view (when needing to share outside of software, e.g. in a meeting)

Verified Reviewer
Verified LinkedIn User
Banking, Self Employed
Used the Software for: 1-5 months
Reviewer Source

Essential ERM provides what is needed

5.0 6 years ago

Comments: I am using Essential ERM in support of my consulting practice.

Pros:

This software is simple while providing the essential requirements to enable leaders to identify and manage risks, adding valuable insights to help them be more successful.

Cons:

Creating and maintaining a valid value added risk assessment is challenging. Leaders and teams often struggle to identify and describe risks in ways which add value. Libraries and industry data can provide management with a reference point and in identifying "blind spots". Effective risk management is being able to consider the unlikely and undesired, biases get in the way. Essential ERM provides a solid database. Management may face bias challenges.

Verified Reviewer
Verified LinkedIn User
Financial Services, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

Essential ERM is an essential tool for any organization to manage their ERM outside of spreadsheets.

5.0 6 years ago

Pros:

The software is seamless, very easy to implement and extremely user friendly. There is no clutter and any complicated functionality. Very easy to configure and has very good reporting options.

Cons:

The product needs more reports, but I am sure they are being developed and will be part of the upcoming releases.

Urooj
Manager Privacy and Risk Management in Canada
Health, Wellness & Fitness, 1,001–5,000 Employees
Used the Software for: 1-5 months
Reviewer Source

Essential ERM Review

4.0 6 years ago

Pros:

Ease of use, User friendly Easy to create risk categories Easy to conduct analysis

Cons:

Some of the features are under development. Although, the development team is very recptive to suggestions

Mishma
Risk Analyst in Canada
Financial Services, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

Essential ERM

4.0 5 years ago

Pros:

- User friendly - Great Bow-tie functionality - Great pricing

Cons:

- Reporting functionality needs to be developed more - KRI functionality missing

Raaj
Director in US
Accounting, 10,000+ Employees
Used the Software for: 1-5 months
Reviewer Source

Simple and productive software for ERM professionals!

5.0 6 years ago

Pros:

The software was easy to use and update information.

Cons:

Doesn't integrate with GRC systems (it wasn't designed to!)

Bill
Bill
Speaker / Instructor in Canada
Verified LinkedIn User
Accounting, 201–500 Employees
Used the Software for: 1-5 months
Reviewer Source

Easy to understand, easy to access, extremely valuable as a management tool

4.0 6 years ago

Comments: Extremely useful and accessible tool

Pros:

Professionally done. Connects with what Risk Management needs. And as noted above - very easy to understand and access

Cons:

Haven't used it enough to determine how "real time" customer support is. But overall, Miles and his team have a great Risk Management tool here.