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Essential ERM Reviews & Product Details

Essential ERM Overview

What is Essential ERM?

Essential ERM® is an easy and cost-effective web-based risk management tool used by organizations in over 20 sectors and 70 countries. It can be activated, configured and used productively in minutes. You access it through a web browser, and there is nothing for your IT team to install or support. Risk management experience is not required, as the tool guides business users through the risk identification and management process. The tool distributes work among your management team and aggregates input to generate reports automatically. Essential ERM® is easy and intuitive for both users and system administrators. The system follows a practical approach to risk management – providing powerful features and aligning with COSO and ISO risk frameworks, while limiting and/or masking complexity for system users. The system provides dynamic reporting and the ability export data to Excel and other reporting tools.

Essential ERM Details
Product Website
Languages Supported
German, English, French, Spanish
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Product Description

Tracker Networks’ solutions help organizations to identify, track and manage business and cyber risks that affect their strategic objectives, customers, supplier relationships, critical data, technology resources and more – to lower risks, save money, improve service and increase revenue.

How do you position yourself against your competitors?

Essential ERM®’s main differentiator is that it was built specifically for Enterprise Risk Management, with intuitive screens and visual workflows designed for use by senior executives and business managers.

Unnecessary complexity has been removed in favour of unique ERM features, including risk bow tie diagrams, automated risk voting, risk appetite, strategy-based risk, KRIs/KPIs, action plan management and more.

Essential ERM® is ideal for operationalizing enterprise risk management throughout an organization. Individual business units can manage their own objectives and risks in confidential risk portfolios. Enterprise managers can easily link risks and create intuitive risk roll-ups to generate divisional and enterprise views. Enterprise risk, operational risk, incident tracking and internal audit can all be easily linked and managed with one easy and intuitive platform.

Administrators can start with a simple and clean configuration to minimize user training requirements and maximize user adoption. Additional features can be turned on later as needed.


Seller Details
Company Website
Year Founded
2018
HQ Location
Toronto, Ontario
LinkedIn® Page
www.linkedin.com
9 employees on LinkedIn®

Gagan M.
GM
Overview Provided by:

Recent Essential ERM Reviews

JS
Jana S.Mid-Market (51-1000 emp.)
5.0 out of 5
"Great customer service and product!"
Essential ERM is very easy to set up and navigate. It delivers all product essesntials for risk management. Risks can be managed clearly with the...
SO
Scott O.Small-Business (50 or fewer emp.)
5.0 out of 5
"Essential ERM to the resuce!"
A combination of the ease of use and the amazing customer service!
Kate M.
KM
Kate M.Mid-Market (51-1000 emp.)
5.0 out of 5
"Great Customer Service, Visualization, Clear Comprehensive Dashboards, and Easy to Use"
Essential ERM is an excellent tool that enables us to engage our business unit leaders effectively, seamlessly aligning our enterprise risks with o...
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Essential ERM Media

Essential ERM Demo - Configurable Dashboard
Build your own configurable dashboard right within Essential ERM.
Essential ERM Demo - Strategy-Centric ERM
Align risks to strategic objectives and desired business outcomes. Engage business, executive and board stakeholders and use ERM to deliver strategic business value.
Essential ERM Demo - Risk Appetite Framework
Develop your organization's risk appetite framework with powerful risk threshold functionality and visual risk appetite tables.
Essential ERM Demo - Built-in Risk Bow Tie
Conduct risk assessments and analysis with built-in risk bow tie diagrams. Run risk workshops with visual bow tie screens. Model risk scenarios by linking root causes, pre & post event mitigations, risk events and consequences.
Essential ERM Demo - Risk Trends
Easily highlight changes and trends for your senior leadership and board. See how risks in specific categories are trending with regards to the category’s set risk appetite thresholds.
Essential ERM Demo - Flexible Risk Register
Easier than a spreadsheet with the power of an automated system.Dynamically rank your risks in an intuitive drag and drop environment. Easily filter risks by objective, business area, owner and more.
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36 Essential ERM Reviews

4.8 out of 5
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36 Essential ERM Reviews
4.8 out of 5
36 Essential ERM Reviews
4.8 out of 5

Essential ERM Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for Essential ERMQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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Kate M.
KM
Business Integration Analyst
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

Essential ERM is an excellent tool that enables us to engage our business unit leaders effectively, seamlessly aligning our enterprise risks with our strategic objectives. It is an easy-to-use, easy-setup, and flexible system with excellent customer service. The visualization capabilities and clear, comprehensive dashboards make monitoring and managing risks straightforward. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

It is just my personal preference for the future, but possible integration with Power BI to automate reporting would be a valuable enhancement. However, the system does provide comprehensive data analysis itself. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Firstly, the product provides great customer service and a comprehensive knowledge base. This was crucial for us because, during the setup stage, especially since it was the first time for our organization, we lacked experience using the platform. The company offers various training sessions, guidance, personal support, and excellent in-system support for any questions. Additionally, the program is easy to use; we easily engaged our leaders and used the voting option online during our meetings. The product is well-designed to bring all the pieces together and monitor the progress of risk mitigation.

Essential ERM addresses several critical issues. The system effectively tracks and manages incidents, linking them to risks, controls, and action plans, which enhances our organizational response and mitigation strategies. Moreover, it aligns enterprise risks with strategic objectives, ensuring that business unit leaders and executives are effectively engaged. Review collected by and hosted on G2.com.

JS
Risk and Compliance Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Essential ERM?

Essential ERM is very easy to set up and navigate. It delivers all product essesntials for risk management.

Risks can be managed clearly with the flexibility of configuring what you need to access and view.

The customer service of their team is fantastic. They respond quickly and communicate clearly. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

Nothing! The product suits the need of the business. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Essential ERM is fundumental to our risk management from maintaining our risk registers, storing the audit trail of periodic risk reviews to senior management risk reporting. Review collected by and hosted on G2.com.

SO
Executive Director and Chief Operating Officer
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

A combination of the ease of use and the amazing customer service! Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

For a not-for-profit entity, the price point is a little intimidating. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Essential ERM is assisting us in several ways. We have a moderate level of experience in formally establishing risk management oversight and planning and integrating it into our decision-making and operational planning. Although we have been doing it instinctively, mapping it out has allowed us to recognize the great things we are doing, but also assisted us in recognizing gaps that we have. Review collected by and hosted on G2.com.

Verified User in Banking
UB
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

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. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

Essential ERM has out of the box reports and has initiatives to expand for customizations. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Inefficiencies from burdensome and redundant manual efforts (emails, spreadsheet, business intelligence tool, word) and untimely/ stale reporting. Review collected by and hosted on G2.com.

JG
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

Easy to follow, easy to set up and intuitive work flow. The results show exactly what we want to know about current risks. Increadible support available anytime we have a question or need a refresher. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

Sometimes the system has bugs and slow loading but it's very quickly addressed and issues fixed. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

better understanding risks and improves/encourages collaboration across functions. Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

Constant updates that are made available to users. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

Not being able to get a lot more granular when rating control effectivenes. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Getting risk assessments done in one central place. Review collected by and hosted on G2.com.

Deryck W.
DW
Consulting Chief Financial Officer
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

I've found it easy to use, and good for both small and large organizations. Small organizations are not in any way burdened by the product depth, which I think is great design. In the meantime it is logical and straightforward to follow. I particularly like that it provides you with the ability to not get trapped in way too many risks, which in my experience is the killer of many ERM initiatives. I like the feature of linking strategy and risks should you choose to. I especially like the way you can link the risks into your annual work plans, which really helps to make the ERM a living document, rather that a once a year, otherwise untouched, exercise. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

I truly don't have downsides. It's the best choice I've seen. The pricing is great - particularly for not-for-profits. The site is reliable and support response has been great. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Risk management. We have lots of risks to address in our work plans, because that is the nature of our work. It is an efficient tool accessible by all team members who need it. Review collected by and hosted on G2.com.

SS
Sr. Risk Analyst
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

I don't usually leave reviews for companies, even the good ones, but Essential ERM has really enhanced my ability to do my job as a Risk Analyst for our Enterprise Risk Management program and makes me look good in the process. The product developers are the unsung heroes of Essential ERM. They actually listen to their customers and follow through on suggested enhancements. They have a true partnership mentality to ensure their customers are able to provide the reporting needed. I have a tendency to get in the weeds with systems and explore their use to their fullest potential. If there is a question, their team is literally a click away and has an excellent response rate. I have been the beneficiary of many of the recent upgrades for reporting, and they continually work to improve its functionality. If their standard reports aren't quite what you want, their excel data exports are perfectly set up for use in PowerBI. If their layout isn't quite what you want, their team will help you customize it to use as you need to. It is by far one of the most user-friendly systems for a novice to start with and one of the most functional systems for an expert to use. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

Copy/paste from OneNote into the meeting notes section doesn't always clean up the best. I have found typing directly into the section provides seamless results for reporting needs. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Moving from spreadsheets to Essential ERM has enabled us to mature our program and provide management and the Board of Directors with consistent and accurate reporting from which they can make strategic decisions. It has features that provide solutions before you know it would be helpful to use. Even using the basic features has enabled our department's reporting to be considered a standard for others to emulate. Review collected by and hosted on G2.com.

Andrew R.
AR
Senior Manager, Enterprise Risk
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

Essential ERM understands what is needed to manage risk. Other products offer too many features that simply get in the way and don't get used. Essential ERM is perfect for getting started with Risk Management and sustain your program going forward. Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

None. It does exactly what I need. I love their openness to suggestions and pace of new feature release. Sure, there are some features I would like to see. The structure for the Risks is great. This needs to be extended to the causes, mitigations, and consequences. Good news, I've been told this is on the work plan. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

We were overwelmed trying to organise our risk data in excel. Essential ERM made this easy and gave us the functionality to investigate and gain insights we were missing. Review collected by and hosted on G2.com.

Verified User in Management Consulting
CM
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Essential ERM?

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! Review collected by and hosted on G2.com.

What do you dislike about Essential ERM?

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 for me. Highlighting my issues only shows that the way to improve this part I dislike is soley on me now. Review collected by and hosted on G2.com.

What problems is Essential ERM solving and how is that benefiting you?

Allows me to uncover potential problems before they become real issues. Allowing me to plan, prepare, and be more productive! Review collected by and hosted on G2.com.