Top 10 Formalize Alternatives & Competitors

(37)4.9 out of 5

Research alternative solutions to Formalize on G2, with real user reviews on competing tools. Other important factors to consider when researching alternatives to Formalize include tasks. The best overall Formalize alternative is SAS Risk Management. Other similar apps like Formalize are MyComplianceOffice, Todyl Security Platform, Microsoft Purview Records Management, and Quartex Governance, Risk and Compliance. Formalize alternatives can be found in GRC Tools but may also be in Financial Risk Management Software or Regulatory Change Management Software.

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Best Paid & Free Alternatives to Formalize

SAS Risk Management
MyComplianceOffice
Todyl Security Platform
Microsoft Purview Records Management
Quartex Governance, Risk and Compliance
Complyance
Microsoft Purview Audit
Netwrix Platform Governance (formerly Strongpoint)

Top 10 Alternatives to Formalize Recently Reviewed By G2 Community

Browse options below. Based on reviewer data, you can see how Formalize stacks up to the competition, check reviews from current & previous users in industries like Financial Services, Banking, and Venture Capital & Private Equity, and find the best product for your business.

SAS Risk Management

By SAS Institute Inc.

4.3/5

(89)

Product Description

SAS Risk Management is a comprehensive solution designed to help financial institutions and enterprises effectively identify, assess, and manage various types of risks, including credit, market, and operational risks. By leveraging advanced analytics and machine learning, it enables organizations to anticipate potential risks, conduct dynamic stress testing, and ensure regulatory compliance, thereby enhancing decision-making processes and overall risk mitigation strategies. Key Features and Functionality: - Advanced Predictive Analytics: Utilizes sophisticated algorithms and machine learning models to forecast potential risks, allowing for proactive risk management. - Comprehensive Risk Assessment: Offers tools to evaluate multiple risk factors across different levels, integrating both internal and external data sources for precise assessments. - Dynamic Stress Testing: Simulates various stress scenarios to test financial systems against extreme market conditions, aiding in strategic planning and preparedness. - Integrated Reporting and Compliance: Automates reporting processes, maintains comprehensive audit trails, and ensures adherence to current regulatory standards. Primary Value and Problem Solved: SAS Risk Management addresses the critical need for organizations to manage financial risks effectively. By providing a unified platform that combines predictive analytics, risk assessment, stress testing, and compliance reporting, it empowers businesses to make informed decisions, reduce potential losses, and maintain regulatory compliance. This holistic approach not only enhances operational efficiency but also strengthens the organization's ability to navigate complex and evolving risk landscapes.

Reviewers say compared to Formalize, SAS Risk Management is:

Slower to reach roi

More expensive

Categories in common with Formalize:

GRC Tools

MyComplianceOffice

By MyComplianceOffice

4.2/5

(52)

Product Description

Reviewers say compared to Formalize, MyComplianceOffice is:

Slower to reach roi

More expensive

Categories in common with Formalize:

GRC Tools

Todyl Security Platform

By Todyl

4.7/5

(45)

Product Description

Reviewers say compared to Formalize, Todyl Security Platform is:

Slower to reach roi

More expensive

Categories in common with Formalize:

GRC Tools

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Quartex Governance, Risk and Compliance

By Quartex

4.3/5

(41)

Product Description

Reviewers say compared to Formalize, Quartex Governance, Risk and Compliance is:

Slower to reach roi

More expensive

Categories in common with Formalize:

By Complyance

Product Description

Complyance is a unified Enterprise GRC platform that is focused on bringing responsible AI & effective automation to Enterprise Compliance, Risk, and Security efforts. High level, Complyance is using modern technology to give you more control and visibility over your risk, while reducing the time your team spends on manual tasks. Complyance supports teams across GRC workflows, and can be used as a full platform or as modules sitting next to existing tech. Common use cases include: - Controls and Audits Centralization: Manage off-the-shelf standards or custom compliance programs in-platform, with automated evidence generation through integrations, which is then reviewed by AI to flag non-compliance. - Risk Management: Centralize and manage risks in one place with AI to help draft remediation plans for risks, automated tracking and alerts, risk scoring, and configurable reporting and dashboards. - Third Party Risk Management: Manage suppliers and third-party vendors with a centralized register, automated questionnaires for third party diligence and ongoing monitoring, and AI review of supplier responses to flag any gaps or risks. - Policy Center: Support end-to-end policy workflows from creation and editing, to approval, and getting acknowledgement from employees.

Reviewers say compared to Formalize, Complyance is:

Slower to reach roi

More usable

More expensive

Categories in common with Formalize:

GRC Tools

Microsoft Purview Audit

By Microsoft

4.3/5

(34)

Product Description

Reviewers say compared to Formalize, Microsoft Purview Audit is:

More expensive

Categories in common with Formalize:

GRC Tools

Netwrix Platform Governance (formerly Strongpoint)

By Strongpoint, now part of Netwrix

4.4/5

(24)

Product Description

Reviewers say compared to Formalize, Netwrix Platform Governance (formerly Strongpoint) is:

Slower to reach roi

More expensive

Categories in common with Formalize:

By Impero A/S

Product Description

Reviewers say compared to Formalize, Impero is:

Slower to reach roi

More expensive

More usable

Categories in common with Formalize:

GRC Tools

SAP Management of Change

By SAP

4.1/5

(17)

Product Description

SAP Management of Change (MOC is a comprehensive application designed to facilitate and document operational changes within an organization. It enables businesses to implement modifications to equipment, materials, chemicals, operating conditions, procedures, and organizational structures with confidence, ensuring that potential risks are thoroughly assessed and controlled. By automating the identification of experts and approvers, managing change checklists and rules, and providing robust workflow and status management tools, SAP MOC helps organizations maintain safe operations, accelerate project delivery, and improve overall productivity. Key Features and Functionality: - Automated Changes: Guides dynamic change-request processes through rules-based activity creation, automates the release and status of operational changes, and allows for predefined answers to prerequisite questions. - Process Auditability and Consistency: Establishes standard processes, maintains up-to-date change logs, and time-stamps user remarks to ensure thorough documentation and compliance. - Process Adaptability and Correction: Utilizes configurable templates and rules to reduce implementation and adoption costs, manages both parallel and sequential processing of tasks with notifications to relevant personnel, and minimizes data entry errors through closed-loop integration with core ERP systems. Primary Value and Problem Solved: SAP MOC addresses the critical need for organizations to manage operational changes systematically and safely. By providing a structured framework for assessing, approving, and documenting changes, it mitigates risks associated with operational modifications, ensures compliance with safety and regulatory standards, and enhances overall operational efficiency. This leads to safer work environments, faster project execution, and reduced manual effort, ultimately supporting sustainable growth and operational excellence.

Categories in common with Formalize:

GRC Tools