Risk Ledger Pros and Cons: Top 5 Advantages and Disadvantages

Quick AI Summary Based on G2 Reviews

Generated from real user reviews

Users find Risk Ledger's ease of use exceptional, noting its intuitive interface and quick navigation. (18 mentions)

Users find Risk Ledger's centralized risk management effective in simplifying and enhancing supply chain security processes. (15 mentions)

Users value the time-saving capabilities of Risk Ledger, enhancing efficiency in risk assessment and supplier onboarding. (13 mentions)

Users value the efficiency of Risk Ledger, highlighting streamlined onboarding and risk assessment through a centralized platform. (10 mentions)

Users value the strong security measures of Risk Ledger, enhancing transparency and managing third-party cyber risks effectively. (10 mentions)

Users find the setup to be complex, particularly non-tech individuals struggle with the interface and onboarding process. (4 mentions)

Users find the onboarding process clunky, making it challenging for non-tech individuals to adapt smoothly. (4 mentions)

Users find the difficult setup of Risk Ledger time-consuming, making initial use challenging for non-tech-savvy individuals. (3 mentions)

Users find the poor interface design can slow navigation and complicate the initial setup process. (3 mentions)

Users find the time-consuming setup process challenging, often leading to frustration and inefficiency during initial use. (3 mentions)

5 Pros or Advantages of Risk Ledger

1. Ease of Use

Users find Risk Ledger's ease of use exceptional, noting its intuitive interface and quick navigation.

See 18 mentions

See Related User Reviews

Seid H.

Mid-Market (51-1000 emp.)

4.5/5

"Efficient and Transparent Third-Party Cyber Risk Management"

What do you like about Risk Ledger?

Risk Ledger provides a simple, centralized way to manage third-party cyber risk. I like that suppliers can share security information once, reducing d

brix a.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizes Supplier Security with Effortless Due Diligence"

What do you like about Risk Ledger?

Instead of every company sending long questionnaires back and forth, suppliers create a single, reusable security profile that all their clients can v

2. Risk Management

Users find Risk Ledger's centralized risk management effective in simplifying and enhancing supply chain security processes.

See 15 mentions

See Related User Reviews

Seid H.

Mid-Market (51-1000 emp.)

4.5/5

"Efficient and Transparent Third-Party Cyber Risk Management"

What do you like about Risk Ledger?

Risk Ledger provides a simple, centralized way to manage third-party cyber risk. I like that suppliers can share security information once, reducing d

Verified User

Mid-Market (51-1000 emp.)

5.0/5

"Streamlined Third-Party Due Diligence with Risk Ledger"

What do you like about Risk Ledger?

Risk Ledger has become an essential tool in our third-party due diligence process. It simplifies supplier onboarding and risk assessment by providing

3. Time-saving

Users value the time-saving capabilities of Risk Ledger, enhancing efficiency in risk assessment and supplier onboarding.

See 13 mentions

See Related User Reviews

Verified User

Mid-Market (51-1000 emp.)

5.0/5

"Streamlined Third-Party Due Diligence with Risk Ledger"

What do you like about Risk Ledger?

Risk Ledger has become an essential tool in our third-party due diligence process. It simplifies supplier onboarding and risk assessment by providing

Abnet Tsegaye B.

Mid-Market (51-1000 emp.)

4.0/5

"Risk Ledger"

What do you like about Risk Ledger?

What is most helpful about Risk Ledger is that it offers compliance templates and automated workflows for risk assessments. Additionally, it has a con

4. Efficiency

Users value the efficiency of Risk Ledger, highlighting streamlined onboarding and risk assessment through a centralized platform.

See 10 mentions

See Related User Reviews

brix a.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizes Supplier Security with Effortless Due Diligence"

What do you like about Risk Ledger?

Instead of every company sending long questionnaires back and forth, suppliers create a single, reusable security profile that all their clients can v

Verified User

Mid-Market (51-1000 emp.)

5.0/5

"Streamlined Third-Party Due Diligence with Risk Ledger"

What do you like about Risk Ledger?

Risk Ledger has become an essential tool in our third-party due diligence process. It simplifies supplier onboarding and risk assessment by providing

5. Security

Users value the strong security measures of Risk Ledger, enhancing transparency and managing third-party cyber risks effectively.

See 10 mentions

See Related User Reviews

Seid H.

Mid-Market (51-1000 emp.)

4.5/5

"Efficient and Transparent Third-Party Cyber Risk Management"

What do you like about Risk Ledger?

Risk Ledger provides a simple, centralized way to manage third-party cyber risk. I like that suppliers can share security information once, reducing d

brix a.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizes Supplier Security with Effortless Due Diligence"

What do you like about Risk Ledger?

Instead of every company sending long questionnaires back and forth, suppliers create a single, reusable security profile that all their clients can v

5 Cons or Disadvantages of Risk Ledger

1. Complex Setup

Users find the setup to be complex, particularly non-tech individuals struggle with the interface and onboarding process.

See 4 mentions

See Related User Reviews

Verified User

Mid-Market (51-1000 emp.)

5.0/5

"Streamlined Third-Party Due Diligence with Risk Ledger"

What do you dislike about Risk Ledger?

Some suppliers may need guidance during initial setup

Sanskar S.

Mid-Market (51-1000 emp.)

5.0/5

"Supply chain security best tool"

What do you dislike about Risk Ledger?

In my opinion, it does not have any dislikes. Sometimes it feels difficult to use, being a non-tech guy, that's it. Apart from that, it's a really goo

2. Onboarding Difficulties

Users find the onboarding process clunky, making it challenging for non-tech individuals to adapt smoothly.

See 4 mentions

See Related User Reviews

Sanskar S.

Mid-Market (51-1000 emp.)

5.0/5

"Supply chain security best tool"

What do you dislike about Risk Ledger?

In my opinion, it does not have any dislikes. Sometimes it feels difficult to use, being a non-tech guy, that's it. Apart from that, it's a really goo

Olu A.

Mid-Market (51-1000 emp.)

3.5/5

"Game changer"

What do you dislike about Risk Ledger?

the onboarding process can be a bit clunky, and it takes some time to get used to the interface. I've also noticed that the platform can be a bit slow

3. Difficult Setup

Users find the difficult setup of Risk Ledger time-consuming, making initial use challenging for non-tech-savvy individuals.

See 3 mentions

See Related User Reviews

Seid H.

Mid-Market (51-1000 emp.)

4.5/5

"Efficient and Transparent Third-Party Cyber Risk Management"

What do you dislike about Risk Ledger?

Some aspects of the platform can feel time-consuming to set up initially, and the user interface occasionally feels less intuitive, making navigation

Sanskar S.

Mid-Market (51-1000 emp.)

5.0/5

"Supply chain security best tool"

What do you dislike about Risk Ledger?

In my opinion, it does not have any dislikes. Sometimes it feels difficult to use, being a non-tech guy, that's it. Apart from that, it's a really goo

4. Poor Interface Design

Users find the poor interface design can slow navigation and complicate the initial setup process.

See 3 mentions

See Related User Reviews

Seid H.

Mid-Market (51-1000 emp.)

4.5/5

"Efficient and Transparent Third-Party Cyber Risk Management"

What do you dislike about Risk Ledger?

Some aspects of the platform can feel time-consuming to set up initially, and the user interface occasionally feels less intuitive, making navigation

Alex C.

Mid-Market (51-1000 emp.)

4.5/5

"Fantastic time saver, truly hope to see the day Risk Ledger unifies the supplier management space."

What do you dislike about Risk Ledger?

It's a struggle to think of anything, my only gripe would be some minor improvements in the UI that could be tidied up.

5. Time Consumption

Users find the time-consuming setup process challenging, often leading to frustration and inefficiency during initial use.

See 3 mentions

See Related User Reviews

Seid H.

Mid-Market (51-1000 emp.)

4.5/5

"Efficient and Transparent Third-Party Cyber Risk Management"

What do you dislike about Risk Ledger?

Some aspects of the platform can feel time-consuming to set up initially, and the user interface occasionally feels less intuitive, making navigation

Anthony R.

Mid-Market (51-1000 emp.)

4.0/5

"A fantastic way to manage your security profile and share it with customers and suppliers"

What do you dislike about Risk Ledger?

If you don't have an existing assessment that you can upload it takes about 3-4 hours to complete the profile, this is a lot of time to spend and it w

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Verified User in Shipbuilding

Enterprise (> 1000 emp.)

12/11/2023

"Great Product would highly recommend"

5/5

What do you like best about Risk Ledger?

Clear domains for us to input responses and request for information. Being able to add links to further information is highly beneficial. Chat box at side makes it very easy to ask questions. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

I can't find anything i dislike about the product. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

We are glad that you are enjoying the product, thank you for taking the time to drop us a review!

Verified User in Utilities

Enterprise (> 1000 emp.)

6/28/2023

"Solves many of our issues with supply chain assurance and granted us some unexpected benefits too."

5/5

What do you like best about Risk Ledger?

It is much faster to add, review, and communicate with vendors. We've seen far better engagement and the ability to converse on each individual control gives us better visibility of the factors around those controls. Having all the discussions and assessments on the platform allows any user to see the progress instead of having to go through the person who picked up the initial engagement. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

The only aspect we miss the ability to ask bespoke or unique questions rather than the standard framework. A way to separately ask and track questions we might have of a subset of vendors and to be able to report on the responses might be useful. Review collected by and hosted on G2.com.

What problems is Risk Ledger solving and how is that benefiting you?

Our previous process was extremely manual relying on spreadsheets, email, and manually tracking review dates. Risk Ledger keeps everything standardised, centralised and automatically notifies us of changes and review dates. We had no formal process for storing evidence of the documentation we were told vendors held. Risk Ledger has functionality for the supplier to upload proof like certifications, policies, and process documents and to directly link those to the control that requests them. Reporting on compliance was very difficult and also very manual. Metrics around HOW compliant our vendors are was not considered, just a yes or no. Risk Ledger gives us many options for granular reporting including by business unit giving the business owners much better visibility of the risk their vendors represent. Previously we had no visibility of 4th and 5th party vendors, only our direct connections. Risk Ledger shows us much more information about our supply chain giving us early warning of risks as well as concentration risks where a vendor may supply many of our vendors. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Glad that Risk Ledger has helped you communicate with your vendors! Also thank you for your feedback regarding things you'd like to see added, I have passed this onto the team

Aiswarya R.

Enterprise (> 1000 emp.)

10/3/2023

"Best tool for security assurance"

4/5

What do you like best about Risk Ledger?

The workflow and the domain category to share is something I like very much in Risk ledger Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Nothing so far. I feel comfortable using and sharing Risk ledger profile to our prospects and customers without any issue. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

It's great to hear that Risk Ledger has simplified the process of filling out questionnaires and sending follow-up emails for you. We aim to make security assurance as efficient as possible for our users.

Verified User in Computer Software

Small-Business (50 or fewer emp.)

1/18/2024

"Much needed platform to help with standardising the compliance process."

4/5

What do you like best about Risk Ledger?

Ability to create a fixed profile that can be shared with due diligence teams so I don't have to re-enter details everytime. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

that more of our clients are not using it! Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your review! We agree, we wish that everyone was using Risk Ledger! It's worth noting that you can search for your clients when logged into the platform and send them a connection request. Happy connecting!

Verified User in Information Technology and Services

Mid-Market (51-1000 emp.)

12/12/2023

"Clear, concise, thorough"

4/5

What do you like best about Risk Ledger?

Nicely laid out, thorough, clear questions, lots of clarification available. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Would be good if you could directly @ / tag colleagues on specific questions for their attention, or 'nominate' specific colleagues to action particular categories etc. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your review, that is a really good bit of feedback - we are now looking into capabilities to do exactly that, so watch this space!

Paul B.

Head of IT and security

Small-Business (50 or fewer emp.)

7/10/2023

"Very comprehensive and easy to use"

4.5/5

What do you like best about Risk Ledger?

Very easy to use, reminder of expiries, collaboration internally where members from each department can all work on the same projects. Good format and easy to read for users who are not always used to using this type of platform Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Nothing essentially although for the smaller businesses it will perhaps price them out of the market. For the larger corporates it will provide value for money. Review collected by and hosted on G2.com.

Verified User in Computer Software

Mid-Market (51-1000 emp.)

2/21/2024

"Secure, quick & easy to log in, pain free experience."

5/5

What do you like best about Risk Ledger?

Straightforward to log in + secure

Easy to navigate through the assessment topics

Workflow when adding colleagues is quick & easy

Submission process is straight forward Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Nothing to dislike here. I was required to use Risk ledger to complete an assessment on behalf of a customer Review collected by and hosted on G2.com.

Yohann L.

Financial Services

Mid-Market (51-1000 emp.)

2/27/2023

"Supply chain assurance made easy"

5/5

What do you like best about Risk Ledger?

I have used Risk Ledger for 3 years now. The platform is very simple to use for both clients and suppliers.

Whilst the assessment is the same for all suppliers, clients like us can tailor the policies they apply to each requirement based on the criticality of the supplier, the type of data they handle, or any other category you choose to apply. This means that my reviews are proportionate to the risk exposure and I can focus on the more material gaps.

One of the main advantages of Risk Ledger is that suppliers complete a single profile which they can then share with their clients on request. Suppliers benefit as they only have to do it once (besides regular updates obviously). Clients benefit too as other companies on Risk Ledger may have previously invited the same supplier which means it is already available as soon as they accept the connection requests.

Feedback from the majority of our suppliers has been good. The assessment is only about 200 questions which is fewer than those of tools I have used previously. The Yes/No style answers mean that it is also fast to complete, as long as the right expert is involved.

Finally, it is great that suppliers can add verbose answers and attach files, which I can then download in one go for review. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Risk Ledger being a start-up, they are still developing their product. They have the fundamentals spot-on and are seeking to expand the functionality based on client feedback. They have already delivered some of the enhancements we suggested rapidly. As their client base grows, we understand that they have to take everyone's feedback into consideration. This means we may not be able to get everything we want every time. However, supply chain risk management practitioners often want similar things, regardless of the company they work for; this means that enhancements that are delivered, whether we requested them or not, are usually quite useful. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Yohann thank you for taking the time and energy for this very thoughtful review, as you said, we are still growing the product, however, having people like you using it and feeding back to us makes developing the right features much easier!

Verified User in Telecommunications

Mid-Market (51-1000 emp.)

12/15/2023

"Simple intuitive interface"

4.5/5

What do you like best about Risk Ledger?

A great place to store and share all company resources ensuring clients can always see our latest updates Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

The initial compiling of answers and evidence can take some time Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your positive review, we appreciate the initial questions take time, however, once you have done it you don't have to put that level of effort in again!

Verified User in Computer Software

Enterprise (> 1000 emp.)

1/19/2024

"Risk Ledger Review"

4/5

What do you like best about Risk Ledger?

easy UI to navigate across the platform. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Difficult to share out to colleagues to work on Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your review/feedback - You can add as many users as you want to collaborate on the platform so that shouldn't be a problem, if you are having issues with this, please contact our support team!