---
description: Discover the most popular Free Risk Management Software tools and compare user ratings, pricing, features, and free demo versions.
image: https://gdm-localsites-assets-gfprod.imgix.net/images/getapp/og_logo-94fd2a03a6c7a0e54fc0c9e21a1c0ce9.png
title: Top Free Risk Management Software Applications and Tools | GetApp Australia 2026
---

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# Risk Management Software

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> Risk Management Software is an enterprise solution used by project managers, risk managers, and other professionals to identify and keep track of potential risks, mitigation measures, and residual risks. They involve managing a risk register based on analytics and projections, setting up controls and barriers to reduce risk and avoid crises, and monitoring the effects of mitigation measures. IT experts can use risk management platforms to detect and eliminate hardware and software vulnerabilities, prevent errors and malicious attacks, and ensure legal compliance. In the field of information security management (ISM), such software can help develop and implement procedures to ensure the integrity and confidentiality of information in compliance with ISO/IEC27002, GDPR, or other regulations. Risk Management Software can identify staffing gaps, reputation damage, and additional staffing risks in HR management. It can be used by upper management to draft forecasts and make year-on-year (YoY) comparisons. Enterprise risk management software for professionals can benefit companies by replacing local silos with centralised data collection, incorporating risks and dependencies into risk assessments using analytics, prioritising responsibilities, improving quality assurance and compliance measures, monitoring processes in real-time, and simultaneous reporting to ensure fast responses to change. Third-party vendor risk management software gathers and manages vendor or supplier risk data to protect companies from issues such as data breaches or noncompliance. This software assesses, monitors, and mitigates all risks that may negatively impact the company and vendor relationship. Typical features of credit risk management software include transparent and easily accessible activity dashboards, risk reporting, analytics and reporting features, and other risk assessment models. Risk management tools can be used in a variety of settings. So, they can relate to environment, health, and safety software (EHS software) in how they manage workplace safety. They could also be associated with Quality Management Software and Compliance Software in terms of helping enterprises keep their IT operations compliant or Financial Risk Management Software by helping to implement internal protocols.

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## Products

1. [Sharken](https://www.getapp.com.au/software/2076781/sharken) — 5.0/5 (1 reviews) — Risk assessment platform
2. [cysmo](https://www.getapp.com.au/software/2078702/cysmo) — 5.0/5 (1 reviews) — Automated real-time cyber risk rating platform
3. [Controllo](https://www.getapp.com.au/software/2080744/controllo) — 5.0/5 (1 reviews) — AI-enabled governance, risk \&amp; compliance solution
4. [Dmaze](https://www.getapp.com.au/software/2074530/dmaze) — 5.0/5 (1 reviews) — GRC platform
5. [SpheraCloud](https://www.getapp.com.au/software/2079294/spheracloud) — 5.0/5 (1 reviews) — Cloud-based enterprise sustainability management solution
6. [CompliancePro](https://www.getapp.com.au/software/2075763/compliancepro) — 5.0/5 (1 reviews) — Security \&amp; privacy workflow automation for healthcare orgs
7. [MyComplianceOffice](https://www.getapp.com.au/software/2080482/mycomplianceoffice) — 5.0/5 (1 reviews) — Cloud-based compliance solution for finance teams.
8. [3rdRisk](https://www.getapp.com.au/software/2076011/3rdrisk) — 5.0/5 (1 reviews) — Let's simplify third-party risk management
9. [Corvus Link](https://www.getapp.com.au/software/2073588/corvus-link) — 5.0/5 (1 reviews) — AI and automation platform for business growth
10. [Sentinel Compliance Platform](https://www.getapp.com.au/software/2082796/sentinel-3) — 5.0/5 (1 reviews) — Because Integrity Matters.
11. [Xactium](https://www.getapp.com.au/software/105477/xactium) (0 reviews) — Cloud-based risk software for the financial services sector
12. [CloudEye](https://www.getapp.com.au/software/110765/cloudeye) (0 reviews) — Security, compliance \&amp; cost for AWS \&amp; Azure cloud services
13. [Hetikus](https://www.getapp.com.au/software/114429/hetikus) (0 reviews) — Governance management to ensure compliance and control.
14. [PYX4 Risk](https://www.getapp.com.au/software/2035107/pyx4-risk) (0 reviews) — Cloud-based financial risk assessment \&amp; management software
15. [FullyInControl](https://www.getapp.com.au/software/2036807/fullyincontrol) (0 reviews) — GRC, risk, quality, and compliance management software
16. [Fusion CTRM](https://www.getapp.com.au/software/2036967/fusion-ctrm) (0 reviews) — Risk management software for agriculture industry
17. [iRely i21](https://www.getapp.com.au/software/2036963/irely-i21) (0 reviews) — ERP and CTRM solutions to simply complex business processes
18. [Aspect CTRM](https://www.getapp.com.au/software/2036971/aspectctrm) (0 reviews) — Commodity trade and risk management software
19. [Namcook Analytics](https://www.getapp.com.au/software/2042331/namcook-analytics-1) (0 reviews) — Predict software project risk and metrics BEFORE Requirement
20. [APIS IQ-Software](https://www.getapp.com.au/software/2042807/apis-iq-software) (0 reviews) — IT security management and risk analysis software
21. [cubemos](https://www.getapp.com.au/software/2043071/cubemos) (0 reviews) — cubemos is the leading sustainability management platform.
22. [Reflectiz](https://www.getapp.com.au/software/2043691/reflectiz) (0 reviews) — Digital Security for Websites
23. [WatchKeeper](https://www.getapp.com.au/software/2047304/watchkeeper) (0 reviews) — A real-time platform to manage physical security threats
24. [Core Impact](https://www.getapp.com.au/software/2048269/core-impact) (0 reviews) — Simple and powerful penetration testing software
25. [Third Party Risk Management](https://www.getapp.com.au/software/2048951/third-party-risk-management) (0 reviews) — Enterprise risk management software with diligence testing

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## Related Categories

- [EHS Management Software](https://www.getapp.com.au/directory/699/ehs/software)
- [Quality Management Systems](https://www.getapp.com.au/directory/144/quality-management/software)
- [Integrated Risk Management Software](https://www.getapp.com.au/directory/1759/integrated-risk-management/software)
- [Incident Management Software](https://www.getapp.com.au/directory/1415/incident-management/software)
- [GDPR Compliance Software](https://www.getapp.com.au/directory/1393/gdpr-compliance/software)

## Links

- [View on GetApp](https://www.getapp.com.au/directory/246/risk-management/software)
- [All Categories](https://www.getapp.com.au/directory)

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