Aravo Solutions headquartered in San Francisco offers cloud-based solutions for managing third party governance, risk, compliance and performance. Their goal is to help companies protect their business value and reputation by managing the risks associated with third parties and suppliers, and to build business value by ensuring that their third party relationships are optimized.
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BWise
Score7.5 out of 10
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BWise is an Governance, Risk Management, and Compliance (GRC) platform formerly owned and supported by Nasdaq, acquired by SAI Global in April 2019.
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Pricing
Aravo
BWise
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Aravo
BWise
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
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More Pricing Information
Features
Aravo
BWise
Governance, Risk & Compliance
Comparison of Governance, Risk & Compliance features of Aravo and BWise
Feature
Aravo
-
Ratings
BWise
8.3
2 Ratings
10% above category average
Common repository of GRC items
00 Ratings
8.72 Ratings
Risk management
00 Ratings
8.12 Ratings
Integration with Corporate Performance Management (CPM) systems
Aravo is an excellent option to keep track of suppliers, make sure they go through the necessary flow to comply with IT and regulatory requirements. It is an easy way to keep a record of suppliers which is evidence to help us in this regulatory compliance process and as a evidence for internal/external audits.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Well suited for general compliance, multiple initiatives, and integration with TeamMate. SAP GRC Process control may be better suited for an SAP environment. Oracle GRC may be better suited for an Oracle environment. Overall, BWise is a very cost effective, and flexible solution.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Great reporting tool (uses SAP Business Objects). It is quite flexible on types of reports that can be created and supported. Also the reporting consultants are very competent and nice.
Highly customizable solution: almost everything can be tailored to an organization's needs, assessments, audits, issues, recommendations, tasks, etc. However, there's a trade-off between customization and the integration of different areas of the organization.
Increases visibility and efficiency in the organization. BWise offers centralized repositories (catalogs) that can be easily accessed and used by everyone in the organization (e.g. Process catalog, Policies and Procedures catalog, Risks, Controls, Laws catalogs, etc.). Also, the application allows findings on controls tested by Audit to be automatically reflected in controls monitored by SOX for example, without the need for SOX to retest them. So one area can leverage on the work of other areas increasing operational efficiency.
Increases integration and avoids silos. By choosing the correct design (e.g. Risk Workshops instead of Open Assessments), one area can see and benefit from another areas' work. An example was mentioned above; another would be Operational Risk area considering the results of Business Continuity, Vendor Management, Info Security, etc. assessments when carrying out theirs. Additionally, processes can be integrated: when contracting a new vendor for instance, one can include questions about data confidentiality and usage of models in the Vendor risk assessment. Answers to these could then trigger Info Sec / Model Risk assessments.
Increases accountability. Application provides full audit/change log with the type of change, name of executor, and date of change.
Easier follow-up. BWise sends automatic emails with reminders to the people required to take action on an issue, assessment, etc.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
It is an excellent tool for supplier management, from selection, evaluation, control and improvement of suppliers. It is easy for suppliers to integrate their information and it can be linked to the company's information, it remains registered, and it is easy to modify it according to all of the company's requirements.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Wasn't personally involved in the vendor selection process. I am aware that one of the main drivers for selecting BWise was cost (I believe BWise total project cost was several times lower than MetricStream's).
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
