It’s time once more to re-evaluate the financial risk management software available on the SaaS scene.
This list is a combination of my own valid opinions on financial risk management software, and that of many esteemed colleagues, whose input I value very much. (I’m adding my colleagues’ suggestions to make double sure my opinions aren’t biased (or wrong).
Financial risk management is a critical aspect of business. So, you need to choose your software wisely. While the providers on this list are a really good place to start, I recommend researching further; not just stopping here. (My ego would have me say otherwise, naturally).
#1 Avalara
Intended for sales tax management, Avalara is suited for all business sizes. It’s a rich system that makes something as heavy and annoying as sales tax, a little less ‘taxing’.
Avalara features include: compliance automation, address validation, and automated updates of product taxability. It also offers returns filing and remittance, connections to any financial system, streamlined sales tax provision, detailed reporting, and exemption certificate management.
Avalara is intuitive. I recommend it as a good solution for basic tax purposes.
#2 Novatus
Novatus is a financial contract management system. (And, a great example of how a Financial risk management covers a number of software functionalities). Novatus is another one-size-fits-all solution that offers a wide array of features.
Novatus provides web-based contract lifecycle management, seamless CPQ integration, CRM and EPR provision and integration with e-sourcing. In addition it is easy to use. Novatus is known for its excellent customer support and technical support.
Financial contracts are extremely important to business. Novatus is an expert in the field and can handle the challenges that come along with financial SaaS.
#3 ProcessGene
ProcessGene is a highly powerful GRC system with a wide number of features.
Among there most noted features are critical heat maps that monitor risks, direct ERP connectivity, support of multiple regulations and powerful intrinsic searching. ProcessGene also offers IT migration risks, subsidized GRC handling, user friendly task wizards, recording capabilities and much more.
This software is pretty powerful, and while I haven’t had a chance to test a demo, my colleagues swear by it.
ProcessGene is geared towards larger, enterprise businesses, rather than small or medium sized businesses. It’s an expensive software suite, but one that’s well worth it.
The financial risk management software suites, outlined in this article, cover some of the major SaaS functions. I would make this list my starting point and continue researching before making a decision. Good Luck