LogicManager Reviews & Pricing

by LogicManager, Inc | Founded 2005, Boston, MA

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What is LogicManager?

Industry Specialties: Serves all industries

LogicManager is a fully integrated governance, risk and compliance (GRC) solution. Users can easily incorporate its taxonomy infrastructure into any department, ensuring scalability and adaptability. It stockpiles all data centrally under one secure repository to assess bank risks, location-specific risks, third-party risks, regulatory risks and gaps in control processes. Provides ready-made libraries to house risks, standards and regulatory documentation for intuitive tracking of compliance obligations, claims, internal audits and risk assessments. Compliant with ISO, NIST, COBIT, GDPR CCPA and more frameworks and regulations.

Its intuitive dashboard and advanced analytics modules provide risk-intelligent reporting of vulnerability assessments with configurable data visualizations. Taxonomy technology links regulations, risk and controls across departments, uncovering correlational data and dependencies for higher operational efficiency. Users can automate task assignments, threat remediation plans, document generation, alerts, reminders and more.

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User Sentiment

Based on 111 reviews:

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LogicManager Pricing

Based on our most recent analysis, LogicManager pricing starts at $10,000 (Annually).

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Starting From: $10,000
Pricing Model: Annually
Free Trial: Yes, Request for Free

Training Resources

LogicManager is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for LogicManager:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

LogicManager Benefits and Insights

Why use LogicManager?

Key differentiators & advantages of LogicManager

Enhanced Decision Making: LogicManager equips organizations with comprehensive risk assessments and analytics, enabling leaders to make informed decisions by understanding the potential impact of risks on their strategic goals.
Streamlined Compliance Processes: The software simplifies compliance with regulatory requirements by automating the collection and management of relevant data, ensuring that organizations stay ahead of changes in regulations.
Improved Risk Visibility: With its centralized risk management framework, LogicManager provides a clear overview of all risk-related activities, highlighting areas of concern and enabling proactive risk mitigation strategies.
Efficient Resource Allocation: By identifying and prioritizing risks, LogicManager helps organizations allocate their resources more effectively, ensuring that attention is focused on the areas of highest impact.
Enhanced Collaboration: The platform fosters collaboration across departments by facilitating the sharing of risk information and strategies, breaking down silos and promoting a unified approach to risk management.
Customizable Reporting: LogicManager offers flexible reporting tools that allow users to create tailored reports that meet the specific needs of different stakeholders, providing relevant insights to support strategic planning.
Increased Operational Resilience: By enabling organizations to identify, assess, and mitigate risks, LogicManager helps build operational resilience, preparing businesses to respond effectively to unforeseen challenges.
Cost Savings: Through the early identification and management of risks, LogicManager can help organizations avoid costly incidents and losses, contributing to overall financial stability and performance.
Regulatory Compliance Assurance: The software's comprehensive compliance management features ensure that organizations can easily demonstrate adherence to industry standards and regulations, reducing the risk of penalties and reputational damage.
Continuous Improvement: LogicManager supports a culture of continuous improvement by providing tools for regular risk assessments and the monitoring of mitigation efforts, enabling organizations to adapt and evolve their risk management practices over time.

LogicManager Reviews

Average customer reviews & user sentiment summary for LogicManager:

111 reviews

91%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of LogicManager reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Centralized Platform: LogicManager allows users to consolidate risk data, assessments, and mitigation plans in one place, providing a comprehensive view of an organization's risk landscape. This can be particularly helpful for organizations with multiple departments or business units, as it enables better collaboration and communication around risk management.
Customizable: The platform's flexibility allows users to tailor it to their specific needs and risk management frameworks. This includes the ability to create custom risk assessments, workflows, and reports. Customizable dashboards and reports provide insights into key risk indicators and trends, enabling data-driven decision-making.
User-Friendly Interface: LogicManager is generally considered to have an intuitive interface that is easy to navigate, even for users with limited technical expertise. This can help to encourage user adoption and engagement with the platform.
Integrations: LogicManager integrates with a variety of other business applications, such as GRC platforms, ERPs, and BI tools. This can help to streamline risk management processes and improve data accuracy.

Cons

Steep Learning Curve: Many users report that LogicManager has a steep learning curve due to its complex interface and extensive features. This can make it challenging for new users to get up to speed quickly and efficiently.
Customization Challenges: While LogicManager offers customization options, some users find it difficult to tailor the platform to their specific needs. This can lead to frustration and a less-than-optimal user experience.
Reporting Limitations: Some users have expressed dissatisfaction with LogicManager's reporting capabilities, citing limitations in generating custom reports or extracting data in desired formats. This can hinder effective risk analysis and decision-making.

Researcher's Summary:

LogicManager, a cloud-based risk management solution, has been helping businesses for almost two decades. Its comprehensive features, like risk maturity modeling and assessment templates, enable organizations to identify, assess, and mitigate risks effectively. However, recent user feedback paints a mixed picture of the software's performance and value proposition.

Users appreciate LogicManager's user-friendly interface and its ability to streamline risk management processes. The software's intuitive design and comprehensive features allow users to efficiently identify, assess, and mitigate potential risks, ultimately leading to improved business performance. Additionally, LogicManager's extensive user base and established reputation provide a sense of reliability and community support. However, some users express concerns about the software's cost and rigidity. The price point may be a barrier for smaller businesses or those with limited budgets. Additionally, the software's lack of flexibility can make it challenging to adapt to unique or evolving business needs. Compared to competitors like MetricStream and Archer, LogicManager offers a more user-friendly experience but may lack the advanced customization options of its counterparts.

LogicManager appears well-suited for established businesses seeking a reliable and comprehensive risk management solution. Its ease of use and established track record make it a dependable choice for organizations looking to enhance their risk management practices. However, businesses with limited budgets or those requiring a high degree of customization may need to explore alternative options. It's important to note that software capabilities and market trends can change rapidly. Therefore, it's recommended to consult the latest online resources and reviews for the most current information before making a software decision.

Key Features

Risk Management: Standardize the risk identification process with preconfigured, custom risk criteria. Identify systemic vulnerabilities and perform root cause analysis to pinpoint upstream and downstream dependencies, duplication and redundancies.
- Assessment: Use a preconfigured risk library to standardize remediation measures and establish a universal risk language across multiple business units. Use best practice regulations, standards and frameworks to prioritize the most critical risks and minimize business impact.
Risk Mitigation: Monitor risks and internal controls in real time and connect risks to associated controls, processes and resources. Automate workflows and notify risk owners of changes in local circumstances. Automatically diagnose misalignments, ineffective controls, redundancies and gaps in risk protection.
Risk Monitoring: Monitor key performance indicators (KPIs) and key risk indicators (KRIs) with integrated control solutions. Configure custom risk thresholds, incident report forms and automated workflows. Standardize risk assessments throughout the organization with common frameworks. Identify emerging risk trends to proactively address vulnerabilities.
Risk Reporting: Leverage the intelligent dashboard to run reports for audits, incidents, compliance, vendor management, SOX, business continuity and more. Improve stakeholder engagement with heat maps and data matrices. Automatically update existing reports and data visualizations to reflect new circumstances and information. Get a 360-degree view of remediation efficacy, controls and risk metrics with centralized controls and processes.
One-click Compliance: Choose from hundreds of pre-existing controls in line with applicable regulations, frameworks and standards. Link controls to associated compliance with a taxonomy-driven artificial intelligence.
Integrations: Integrate third-party applications with a simple, no-code, templated architecture. Some of the most popular integrations include Jira Software, DocuSign, Slack, Office 365, Google, etc.

Suite Support

A team of experts provides training and guidance throughout the client lifecycle at no extra cost. The advisory analysts provide onboarding support, implementation assistance and control configuration. For additional help, log in to the vendor’s platform.

Email: Not specified.

Phone: Not specified.

Training: Other than the resources mentioned above, clients can visit the LogicManager University portal to access best practice articles, user forums and video tutorials.

Tickets: Not specified.