Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. As companies work to strengthen their risk management practices, operational risk management software is gaining traction as a key component of a governance, risk and compliance application portfolio and enterprise risk management program. Operational risk management (ORM) is part of a growing category of corporate governance, risk and compliance (GRC) software applications that is focused on supporting more formal ORM practices as a key component of a broader enterprise risk management (ERM) program.
By providing a better understanding of the risks to business objectives, ORM enables better business performance and capital allocation. The critical capabilities of ORM software applications center on providing business leaders with a more effective means of assessing risk and control effectiveness, identifying operational risk events, managing remediation efforts, and quantifying the associated operational risk exposure across the enterprise. Sales Strategy: OpenPages implementations typically include a wide range of business units across an organization, as evidenced by the large distribution of business units that customers said were actively using the OpenPages GRC Platform.

SAP targets CFOs, CROs, CEOs and risk managers as the primary buyers for its SAP Risk Management for ORM software solution. Buyers of SAS's primary ORM software solution, SAS Operational Risk, include risk managers, compliance officers and strategy officers. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. In addition, ORM software applications can integrate with external loss event databases to identify potential risk events based on the experience of peers and other related entities. ORM software applications can provide support to risk professionals and business leaders in managing the associated risk mitigation efforts. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

In fact, GRC software is on par with other critical business priorities, such as R&D and innovation, as well as efficiency and productivity.
While the OpenPages product typically has been deployed in larger, more complex environments, IBM has created versions with off-the-shelf, limited functionality for small and midsize businesses.

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