Riskonnect Strengths, Domain Expertise, and Key Differentiators
Riskonnect is an innovator in risk management, enhancing the maturity and sophistication of ERM (enterprise risk management) and the performance and scalability of RMIS (risk management information systems) worldwide.
Riskonnect empowers executives to make forward-looking decisions based on real-time, enterprise-wide, comprehensive risk information. The company develops a growing suite of risk management technology solutions including Riskonnect GRC and Riskonnect RMIS. These products address risk management needs from the traditional/insurance risks through to the top where there is a more strategic enterprise-wide focus on risks and uncertainty that may affect an organization's shareholder value. Riskonnect applications are built on the most scalable, reliable, and secure platform in the risk industry.
Riskonnect Recent Developments
In April 2021, Riskonnect released the latest version of its platform Riskonnect 2021.1. Among other enhancements, the release delivers two new major capabilities within the governance, risk, and compliance (GRC) suite specifically designed to help UK financial services organizations build resilience and improve decision making. The release also includes several new features within Riskonnect’s Healthcare Patient Safety and Risk Management Solution that equip healthcare organizations to improve event reporting.
In August 2020, Riskonnect unveiled a new feature within its Healthcare Patient Safety and Risk Management solution to help customers comply with the Ongoing Professional Practice Evaluation (OPPE) standard. The enhanced platform equips healthcare organizations with the tools to regularly collect data and report on practitioners’ professional performance.
Riskonnect releases a free coronavirus tracker to help customers address evolving COVID-19 risk exposure. The capability will enable companies to accurately understand their risk exposure related to the virus and make faster, more informed risk mitigation and management decisions.
Riskonnect Mergers and Acquisitions (M&A) Activities
In October 2021, Riskonnect acquired ICIX, a California-based value chain governance company that empowers businesses to manage, monitor, and verify ESG performance. The acquisition accelerates Riskonnect’s global growth by expanding its IRM product suite to better serve the increasing risk and compliance demands of the fast-growing ESG market.
In March 2020, Riskonnect has acquired Xactium, a UK-based GRC software provider that revolutionized the way enterprises evaluate and manage enterprise risk and compliance. The acquisition will accelerate Riskonnect’s global growth, strengthen its financial services and project risk management capabilities, and equip its customer base with innovative artificial intelligence (AI) and analytics technology for GRC. By integrating Xactium and Riskonnect, customers of both companies will gain access to new capabilities, leverage innovative technology, and take advantage of an expanded global footprint of service professionals with domain knowledge in every industry.
In October 2018, Riskonnect acquired Marsh ClearSight, a risk, safety, and claims software provider. Upon completion of the transaction, Riskonnect will expand its offerings, providing customers with a comprehensive, end-to-end technology suite to manage and control risk. The combination will create a single provider that will deliver more choices, deeper value, and an expanded global footprint of more than 500 professionals serving over 900 customers.
In December 2017, Riskonnect acquired California-based Aruvio, which provides cloud-based governance, risk, and compliance (GRC) solutions. The acquisition will expand Riskonnect’s IRM and governance, risk, and compliance platform offerings at a time when enterprises across various vertical markets are facing increased rules and regulations.
Riskonnect Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Riskonnect applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Riskonnect and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Riskonnect, customers.
Ownership: - Thoma Bravo, LLC
Number of Employees: 525
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K147, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Riskonnect Key Enterprise and Cloud Applications
Riskonnect Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Riskonnect Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Riskonnect Enterprise Applications Revenues By Functional Markets, $M:
Riskonnect Enterprise Applications Revenues By Verticals, $M:
Riskonnect Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
Riskonnect Direct vs Indirect sales
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Riskonnect Customers - Breakdown by Geo, Size, Vertical and Product
No. of Riskonnect Customers: 950
No. of Riskonnect Enterprise Applications Customers: 950
No. of Riskonnect Cloud Customers: x
No. of Riskonnect Cloud Subscribers: x
Riskonnect serves 950 customers across six continents including Ameriprise Financial, ConAgra Foods, CornerStone Staffing, Ferguson, IASIS Healthcare, Kaiser Permanente, Savage, SNAP-ON, and others.
Riskonnect Market Opportunities, M&A and Geo Expansions
Re-platforming of Marsh ClearSight was made evident with a new product that was developed to address the unmet needs of the RMIS market: an intuitive platform that brings together users, tools, and data for more efficient workflows and deeper insights to help organizations evaluate, mitigate, and manage risk. Marsh ClearSight’s solution stands on three key pillars: clearer data by integrating all data into a single database; clearer analytics to address critical issues with powerful insights where and when you need them; and clearer collaboration to collaborate intra-, inter-, and supra-company right from the platform, making business processes more efficient.
Riskonnect Risks and Challenges
During 2018, Riskonnect made a lot of changes in its leadership team including a new CEO, CMO, CHRO and new Senior Vice President, Customer Success which could lead to a new Go-To-Market strategy.
In June 2017, Thoma Bravo, a leading technology investment firm, acquired Riskonnect. The investment recognizes Riskonnect’s strong momentum and is expected to help the rapidly growing company expand and broaden its software platform. As part of the agreement, the company’s three founders will retain a significant minority stake in the business.
Riskonnect Ecosystem, Partners, Resellers and SI
Riskonnect partnered with Focal Point Data Risk, an experienced provider of enterprise GRC (eGRC) and Integrated Risk Management services, that aligns Riskonnect’s best-in-class IRM software solutions with Focal Point’s implementation and risk management consulting services.
Among its partners are Adobe, A.M. Best Company, Conga, Cognos, Reed Group, SalesForce, Willis Group Holdings.
Riskonnect Cloud Infrastructure Insights
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- Riskonnect Public Cloud and Infrastructure (IaaS)
- Riskonnect Platform (PaaS)
- Riskonnect Application Delivery
- Riskonnect Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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