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

G2 reviews are authentic and verified.

Here's how.

Jennifer B.

Small-Business (50 or fewer emp.)

8/21/2023

"Most straightforward risk management tool"

4.5/5

What do you like best about Risk Ledger?

Out of all the 3rd party risk management tools I've used to fill out customer requests, Risk Ledger is the most simple and straightforward. Pleasant interface, simple to get through, no questions about what additional is needed. Definitely a tool I will be looking at when we get around to needing a 3rd party risk management tool! Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

From a vendor perspective, it's lengthy. However I cannot complain about that, because from the customer perspective, the detail is required. But Risk Ledger makes it much quicker and easier to get through than other platforms. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your positive review of Risk Ledger! We're glad to hear that you find our tool to be the most simple and straightforward out of all the third-party risk management tools you've used. We take pride in providing a pleasant interface and a smooth user experience.

We understand that the process can be lengthy from a vendor perspective, but we appreciate your understanding that the level of detail is necessary from the customer's perspective. We strive to make the process as quick and easy as possible, and we're glad to hear that you find Risk Ledger to be quicker and easier compared to other platforms.

One of the main problems that Risk Ledger solves is the need for updated information. We take care of monitoring and notifying you when it's time to update compliance information. This saves you the worry and hassle of keeping track of when updates are needed and ensures that you always have the most up-to-date information.

Thank you for choosing Risk Ledger, and please don't hesitate to reach out if you have any further questions or need assistance. We're here to help!

Verified User in Information Technology and Services

Small-Business (50 or fewer emp.)

1/12/2024

"Risk Ledger Review"

5/5

What do you like best about Risk Ledger?

It's easy to use and even for those more complex InfoSecs, it serves us well as a reference point. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

It would be nice if we could add more of our own questions that customers often ask us. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your feedback, we are actively looking into opportunities to make our framework more flexible - so watch this space!

Simon B.

Mid-Market (51-1000 emp.)

1/11/2024

"Very clear well structured platform which offers helpful guidance through the processes required"

4/5

What do you like best about Risk Ledger?

The structure and coaching in the suggestions for the information required, along with the progress charts which are clear as to what is outstanding Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

There wasn't anything significant enough which I disliked about Risk Ledger Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

`Glad you are enjoying the product and thank you for your feedback, that is so good to hear!

Verified User in Utilities

Enterprise (> 1000 emp.)

1/25/2024

"Concise. clear and user friendly"

4/5

What do you like best about Risk Ledger?

The system is sufficiently detailed, there is clarity of questioning, a user-friendly layout meaning time efficiency is maximised, there is plenty of support should issues arise, and great ease of use and implementation. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

Response from Tom Baker of Risk Ledger

edit

Thank you for your feedback, glad you are generally enjoying the platform. If you do ever have any issues at the login screen please just reach out via intercom so we can get that logged and fixed!

Verified User in Computer Software

Small-Business (50 or fewer emp.)

1/29/2024

"Easier than answering questions"

4.5/5

What do you like best about Risk Ledger?

The fact that we can update all company info and send it to customers on demand saves so much time for us. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

It does pretty much everything we require. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Glad you are enjoying the platform and this is speeding up your onboarding time for new platform, if you would like to discuss could support your supply chain security further please don't hesitate to reach out to our team via intercom

Chris W.

Founder

Small-Business (50 or fewer emp.)

5/8/2023

"Saves countless hours of security diligence"

5/5

What do you like best about Risk Ledger?

Risk Ledger fills a crucial gap in the security diligence landscape. The past is everyone sending each other unique spreadsheets filled with custom security controls that take countless hours to fill in for each customer. The future is having information on all your security controls readily available for customers to validate and match with their requirements, without any additional effort from your team beyond keeping your security control information maintained. Risk Ledger is that future. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

There are no downsides. If anything I wish they charged us for it as we get value from being able to automate our security diligence processes to our customers without needing to pay for it. Review collected by and hosted on G2.com.

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

Our customers naturally want to know that we are a secure business, and prior to Risk Ledger it was difficult for them to know what questions to ask. This leads to a situation where most customers default to creating a spreadsheet of unique security questions designed to test their suppliers. However, as a business with many customers we cannot sustain a response to every unique questionnaire, and so Risk Ledger helps both us and our customers to have a sensible set of questions we can share and they can analyse, to determine the state of our security controls. This saves time not only for us, but our customers too. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Glad you're getting so much out of the supplier side. If you ever want to move over the client side and start managing all your vendors please let us know!

See how Risk Ledger improved

Verified User in Insurance

Enterprise (> 1000 emp.)

12/20/2023

"Works well enough"

2.5/5

What do you like best about Risk Ledger?

Risk Ledger is one of the few portals that I like because it doesn't ask to enter in the exact same information for each client every time we get a request. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

There are a few misspellings through the questions and example would be: organization. it is misspelled in severl locations. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you for your feedback, we spell things in UK English which is why Organisation is spelt with an 's'. If there are other examples please let our support team know.

Bozidar S.

Founder

Mid-Market (51-1000 emp.)

7/12/2023

"Fairly simple tool to use but one of so many other tools. Really depends on what your customers want"

2.5/5

What do you like best about Risk Ledger?

Simple onboarding and easy to start populating data. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

No NDA signed by Risk Ledger to guarantee no misuse of data. This burdens the organization if they have a strict third-party assessment. Which is weird because a Third Party assessment company should know that they will be the first iteration that needs to be assessed by anyone. Extremely difficult to remove the survey and data if you decide not to use the platform. Review collected by and hosted on G2.com.

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

It's not solving any problems for us, we were requested to start using it by a customer. After we noted that RiskLedger doesn't provide any immediate formal or contractual guarantees towards us in terms of protection of the data they request that we submit in the system, we concluded that we would need to make a Third Party assessment of RiskLedger and demand a separate NDA contract with them to continue using them. It was deemed to be a too long process, and we abandoned any work on their platform and proceeded to submit the required information directly to the customer. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Thank you very much for taking the time to give us feedback on the platform, we take all feedback on board to ensure users get the best experience.

I wanted to address a few points within your feedback to alleviate any future concerns with the platform if you are interested in using the platform in the future:

We have a pre-built NDA within our Terms and Conditions, we take data control very seriously and this can be reviewed within our Ts&Cs (https://riskledger.com/terms.pdf) and in our Privacy Policy (https://riskledger.com/privacy).

We will always work with organisations to their own NDA if that is a requirement to use the platform and we want this process to be as painless as possible so that users can get on with completing assessments for their clients and getting the most from the platform.

If further due diligence is required of Risk Ledger, we make our own security profile available to organisations to conduct their review to satisfy their requirements.

If you have any questions, please do not hesitate to contact us.

See how Risk Ledger improved

Verified User in Information Technology and Services

Small-Business (50 or fewer emp.)

1/24/2024

"Easy to use and work through"

4/5

What do you like best about Risk Ledger?

Super clean and easy to use. The reference points for each question helped us provide the best possible answers. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

I may be missing this, but a summary at the end of where you could improve your responses would be really valuable. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

That is a really good piece of feedback, you can view your level of compliance by going into your client's tab - that way you can understand how your different clients view your company information and where you could improve!

Verified User in Computer Software

Enterprise (> 1000 emp.)

8/23/2023

"Easy to use and administer"

4/5

What do you like best about Risk Ledger?

The tool is easy to utilise and share making it easy to reduce strain on our organisation's account trust team. Being able to invite and collaborate with colleagues allows easy management of the answers contained in the solution, and allows us to utilise the correct person for each domain. Review collected by and hosted on G2.com.

What do you dislike about Risk Ledger?

As a software vendor developing and selling many individual cloud products, the risk ledger solution does not provide an easy way to differentiate answers based on product. It would be ideal if we could create an organisation level profile with links out to individual product profiles. Review collected by and hosted on G2.com.

Response from Tom Baker of Risk Ledger

edit

Update: Product level answers will go live on 01/04/2025, you will now be able to differentiate answers based on product

We're glad to hear that you find Risk Ledger easy to use and administer. Our goal is to provide a user-friendly platform that streamlines the process of managing and sharing information. We appreciate your feedback and will take your suggestion into consideration for future improvements.