Compare VendorRisk and RiskRate - Mar 2022

Shlomi LaviShlomi Lavi / Mar 03, 2022

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Bottom Line: Which is Better - VendorRisk or RiskRate?

VendorRisk is more expensive to implement (TCO) than RiskRate, and RiskRate is rated higher (77/100) than VendorRisk (58/100). VendorRisk offers users more features (3) than RiskRate (2).

Looking for the right Vendor Management solution for your business? Buyers are primarily concerned about the real total cost of implementation (TCO), the full list of features, vendor reliability, user reviews, and the pros and cons. In this article we compare between the two software products:

SKEEY INTERACTIVE LLC Vs. NAVEX Global

SKEEY INTERACTIVE LLC: Founded in 1999, Skeey Interactive has designed & developed websites and web applications for some of the best known companies & brands in the world.In late 2009, we launched our first product — VendorRisk. VendorRisk is web-based software that helps companies organize their vendor-related information.

NAVEX Global: We believe that people deserve to have a meaningful experience at work both in terms of the work they do and how they feel valued as a person. NAVEX Global believes what we do is important and while we are proud of the difference we make for our clients, we are even more proud of the priority we place on people and the culture we are building toget...

Who is more expensive? VendorRisk or RiskRate?

The real total cost of ownership (TCO) of Vendor Management software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance and support and other related services. When calculating the TCO, it's important to add all of these ”hidden costs” as well. We prepared a TCO (Total Cost) calculator for VendorRisk and RiskRate.

VendorRisk price starts at $1,500 per user/year , On a scale between 1 to 10 VendorRisk is rated 2, which is much lower than the average cost of Vendor Management software. RiskRate price starts at $5,000 per year , When comparing RiskRate to its competitors, the software is rated 2 - much lower than the average Vendor Management software cost.

Bottom line: VendorRisk cost is around the same cost of RiskRate.

Which software includes more/better features?

We've compared VendorRisk Vs. RiskRate based on some of the most important and required Vendor Management features.

VendorRisk: Data Import/Export, Basic Reports, Online Customer Support.

RiskRate: Customer Experience Management, Contact Management.

Target customer size

Customers of the software include small and medium businesses as well as large enterprises. and RiskRate's target customer size include: Small, medium and large size businesses.

VendorRisk

ITQlick rating
(4.2/5)

starts at $1,500 per user/year

VendorRisk is a web based IT asset and vendor management solution for businesses of all sizes. It also offers contract management, risk management, incident tracking, and other capabilities. The softwar...

Categories: Contract Management, Document Management, IT Asset Management.

RiskRate

ITQlick rating
(2.8/5)

starts at $5,000 per year

RiskRate is a growing cloud-based Supply Chain software, it is designed to support small, medium and large size business. RiskRate received a rating of 2.5 from ITQlick team. The software cost is considered aff...

Categories: Audit Management, Customer Loyalty, Self-Service Portal, Vendor Managed Inventory, Supplier Management.

Compare specifications

Compare features

VendorRisk: 3 Features

Data Import/Export
Basic Reports
Online Customer Support

RiskRate: 2 Features

Customer Experience Management
Contact Management
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100, the calculation is based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 (10 is high cost), based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Functionality score
Software review
Compare
VendorRisk
ITQlick rating
4.2/5
Score
58/100
Pricing
3/10
License pricing
$1,500 per user/year
Functionality
6
Compare
RiskRate
ITQlick rating
2.8/5
Score
77/100
Pricing
2/10
License pricing
$5,000 per year
Functionality
9
SimpleVMS
ITQlick rating
4.9/5
Score
82/100
Pricing
4/10
License pricing
Pricing not available
Functionality
15
Latitude...
ITQlick rating
4.8/5
Score
75/100
Pricing
6/10
License pricing
Pricing not available
Functionality
19
VendorInsight
ITQlick rating
4.5/5
Score
73/100
Pricing
6/10
License pricing
Pricing not available
Functionality
5

Auditor - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.