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Essential ERM

Review by RAECHEL CONOVER
Updated January 27, 2023

Essential ERM is cloud-based ERM software that helps companies identify and manage risks, make strategic decisions based on potential risks and outcomes, save money, and ultimately protect what matters most.

Pros

  • Unique bow tie diagram
  • Focuses on just ERM
  • Enhanced reporting
  • Essential Strategy as a seamless integration
  • Intuitive and automated workflows
Cons

  • Learning curve
  • Limited customizations
  • Limited entry-level support
Essential ERM logo
Best for banks
4.8
Features
5
Pricing
5
Support
4
Reputation
5

What is Essential ERM?

Owned and operated by Tracker Networks, Essential ERM focuses solely on ERM, not compliance or other risk actions. It blends risk management with strategy to help top decision-makers make informed decisions to move their businesses forward. It uses a unique bow tie diagram to show risk events, possible root causes, effects, and mitigation that can elevate issues and make predictions on financial and risk impacts.

essential erm dashboard screenshot

Screenshot: Essential ERM login dashboard. Source: Essential ERM live demo.

Essential ERM pricing has three tiers: Standard, Pro, and Enterprise. The latter is customized to meet your exact needs. Several key add-ons are available with Essential ERM, including Essential Strategy, which can integrate seamlessly with Essential ERM, or the two can operate independently.

Users are happy with this ERM software. The ability to view risks from all angles is helpful to business leaders making key decisions that will drive the company forward. The enhanced reporting that the program provides has turned into the gold reporting standard for many companies that use Essential ERM.

essential erm advanced reporting screenshot

Screenshot: Essential ERM advanced reporting with heat map reports. Source: Essential ERM live demo.

essential erm bow tie risk analysis screenshot

Screenshot: Essential ERM unique bow tie risk analysis that shows causes, mitigations, and consequences. Source: Essential ERM live demo.

How much does Essential ERM cost?

Essential ERM plans start at $299/month.

Starting price:
$299 per month
Free trial:
Not Available
Free version:
Not Available
Essential ERM Pricing & Plans
Standard Pro Enterprise
Starting at $299 / mo Request pricing Request pricing
1 user

What’s included in every Essential ERM plan? Every Essential ERM software plan is multilingual and provides risk tracking, reporting, a strategy builder, training, and support.

When you move up to the Pro level, you get risk portfolios, incident tracking, KPI and KRI, action plans, risk voting, and a higher level of training and support. The Enterprise plan allows companies to create a custom plan with the added features of a risk library, risk assessments, SSO, and training packages.

essential erm admin features screenshot

Screenshot: Essential ERM gives admins the ability to assign and track risks. Source: Essential ERM live demo.

Which features does Essential ERM offer?

ERM Software Features
Risk identification through predictive analytics
Risk bow tie assessments detailing potential impacts
Structured risk mitigation planning
Incident tracking with real-time metrics
Reporting dashboard

Other notable Essential ERM features

  • Risk voting
  • Strategy and ERM automation
  • Intuitive screens and automated workflows
  • Risk library
essential erm risk voting feature screenshot

Screenshot: A popular feature provided by Essential ERM is risk voting. Source: Essential ERM live demo.

What types of support does Essential ERM offer?

Data Migration
1-on-1 Live Training
Self-Guided Online Training
Knowledge Base
FAQs/Forum
Email Support
Live Chat
Phone Support

Essential ERM user review highlights

We analyzed 41 user reviews about Essential ERM from 2 third-party review websites to provide this summary.

Overall, user reviews of Essential ERM are over the top positive. There are limited adverse reports, and the few we found are about a lack of customization. One user reports that switching is more challenging if you already have an existing program because you can’t make the necessary customizations. A few other users say that the learning curve was a bit more than expected, but all agree it’s worth it.

Essential ERM receives primarily glowing reviews. From an intuitive, easy-to-use interface to enhanced reporting, customers can’t say enough good things. Several users say that the reporting is so good it’s become the gold standard for their company. Other reviewers say they see marked improvements in their company since using Essential ERM. One glowing review says that the ERM software makes her job much more efficient and better.

  • Ease of Setup – Users report that Essential ERM is easy to set up. One says that it was ready to go right out of the box.
  • Ease of Use – One minor complaint from a few users is that the software takes a little time to learn. This is overshadowed by the fact that once customers learn it, they are blown away by how amazing it is.
  • Features – Of the features that Essential ERM has, the most commented on in user reviews are risk voting, enhanced reporting, the bow tie view, and risk event views.
  • Quality of Support – Users love the Essential ERM customer support. There are zero complaints, and several users say that their recommendations for updates and improving the software have been made. The Essential ERM team partners with their customers to modify and update the software to be exactly what is needed.
  • Value for Money – Reviewers find much overall value for the money with Essential ERM software. One reviewer says that it has dramatically increased her ability to do her job as a risk analyst. Another says it’s a cost-effective tool that has enabled her company to achieve its goals with more informed decisions.
essential erm support center screenshot

Screenshot: Essential ERM support center. Source: Essential ERM live demo.

Essential ERM Contact Information

Parent Company:
Tracker Network
Headquarters:
Toronto, Canada
Year Founded:
2009
Website:
trackernetworks.com
LinkedIn:
linkedin.com/company/tracker-networks-inc-/
YouTube:
https://www.youtube.com/@trackernetworks

Essential ERM alternatives

Software Starting Price B2B Reviews Score
Essential ERM $299 / month 4.75
LogicGate Request a quote 4.25
LogicManager Not disclosed 4.25

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