Policy Management Software

Finding software can be overwhelming. Software Advice has helped hundreds of businesses find the right policy management software to create, edit, review, store, and share policy and procedure documents.

Showing 1-20 of 17 products

MyCompliance

MyCompliance is a cloud-based solution designed to help businesses of all sizes automate the policy management lifecycle by performing staff knowledge assessments with graphically engaging content. Key features include best practices... Read more

Platforms: MacWinLinux
Deployments: Cloud
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DocTract

The Policy Management Cloud solution from DocTract is purpose-built to manage the entire life-cycle of Policies and Procedures for any organization and for any size.  Automate each step in the Policy Management process including document... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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PolicyManager

PolicyManager is a cloud-based solution designed to help healthcare providers manage documents via a digital archiving system to streamline workflows and ensure regulatory compliance. Key features include version control, templates... Read more

Platforms: MacWinLinux
Deployments: Cloud
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DynamicPolicy

DynamicPolicy is a cloud-based solution designed to help midsize enterprises manage the entire policy management lifecycle through certification tracking, collaboration, version control and more. Key features include content management,... Read more

Platforms: MacWinLinux
Deployments: Cloud
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PolicyHub

PolicyHub is policy and procedure management solution designed to help medium to large businesses manage and streamline all processes, from policy creation to distribution and reporting. The platform comes with a point-and-click interface,... Read more

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Platforms: MacWinLinux
Deployments: CloudOn premise
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Convercent

Convercent is a cloud-based compliance management solution that helps small businesses to large enterprises manage corporate ethics via analytics, reports and data-based predictions. It includes various modules to help manage cases,... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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TravelPerk

TravelPerk is an automated travel management tool that aims to improve the employee experience when booking business travel. This web-based solution helps small to large sized businesses save time and improve efficiency by giving users... Read more

Platforms: MacWinLinux
Deployments: Cloud
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Diligent Compliance

Diligent Compliance is a risk management solution designed to help organizations maintain regulatory compliance across internal and external processes to improve business continuity. Professionals can upload relevant corporate policies... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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PowerDMS

PowerDMS is a cloud-based solution designed to help public and private sector organizations manage the entire policy lifecycle through electronic signature capture, revision tracking and more. Key features include audit trails, policy... Read more

Platforms: MacWinLinux
Deployments: Cloud
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PolicyStat

PolicyStat is a cloud-based policy management software, which helps businesses of all sizes manage procedures and documentation. Key features include compliance tracking, auditing, contract management and collaboration. The platform’s... Read more

Platforms: MacWinLinux
Deployments: CloudOn premise
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HighBond

HighBond by Galvanize is a comprehensive GRC solution. It is a suite of products that includes RiskBond, ComplianceBond, AuditBond, PolicyBond, plus others. With the RiskBond application, organizations can access integrated risk management... Read more

Platforms: MacWinLinux
Deployments: CloudOn premise
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Policy Manager

Policy Manager by MCN Healthcare is a cloud-based document control and workflow management solution designed to help medical organizations automate policy access, review, approval and attestation. Its automated tracking and reporting... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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ComplyALIGN

ComplyALIGN is a cloud-based policy management solution designed to help small to large businesses align and manage workforce policy in compliance with regulatory requirements. It allows users to maintain a centralized repository of... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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PolicyHandler

PolicyHandler is a web-based policy management system, which assists small to medium insurance carriers with claims administration. Key features include workflows, automated renewals, messaging, task tracking and documentation.  The... Read more

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Platforms: MacWinLinux
Deployments: CloudOn premise
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policyIQ

policyIQ is a cloud-based content and document management solution designed to help businesses of all sizes store various kinds of documents to manage governance, risk and compliance (GRC). The platform enables users to track multiple... Read more

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Platforms: MacWinLinux
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Staff.Wiki

Staff.Wiki is a policy and procedures management tool for businesses of all sizes. The web-based platform provides companies with the tools to manage and streamline their staff policies, standard operating procedures and compliance... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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Sword Policy Manager

Sword Policy Manager is a cloud-based compliance management solution that helps businesses of all sizes control and monitor policies and procedures within the organization. The centralized platform enables complete management of critical... Read more

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Platforms: MacWinLinux
Deployments: Cloud
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Buyers guide


Last Updated: July 11, 2020

Organizations must create various policies to govern operational and business aspects, such data protection, use of company assets, and employee behavior. But if done manually, it's difficult to ensure employee access, proper documentation, and, more importantly, whether everyone is using the most up-to-date version.

Policy management software addresses these pain points. It helps users create, review, approve, and store policies according to established workflows. Policy management tools also allow you to distribute or share policies with the relevant employees.

While policy management software may seem like an additional cost, it helps you stay compliant and respond more quickly to client escalations or security breaches, thereby indirectly adding value to your bottom line.

Here's what we'll cover in this Buyers Guide:

 

What is policy management software?

Policy management software is a tool that helps users organize and manage all their policy and procedure documents centrally.

This type of software facilitates collaboration between legal and other teams on creating, editing, and maintaining policy and procedure documents. It also allows employees to digitally attest that they have read and understood the policies.

Policy management tools also offer security features such as access controls and administrator privileges to restrict unauthorized users from editing, reviewing, or approving policies.

Policy review schedule in ProcessUnity

Policy review schedule in ProcessUnity (Source)

 

Common features of policy management software

In this section we discuss key features to look out for when shopping for a policy management solution.

Policy authoring

Enables users to create, edit, review, and approve policies directly on the tool using automated workflows.

Search

Enables users to quickly find documents they need by typing in file names or parts of metadata in the search bar.

Notifications

Alerts administrators through email, pop-up messages, or text reminders when policies are due for review or when someone has reviewed or modified a policy.

Attestation

Allows users to digitally confirm (such as with e-signatures) that they have read and understood a policy.

Reports and dashboards

Helps the management team track and manage all business policies and identify which policies need to be updated.

Access controls

Allows administrators to limit user access to specific policies, set documents as read-only, and restrict sharing or printing of policy documents.

Audit trail

Tracks changes made to a document, capturing details of who made an update, and stores different versions of the document with timestamps.

Metadata management

Buckets policies into various broad categories, such as HR policies or ethics policies, using metadata tags to make search easier.

Bookmarks

Allows users to mark specific policies for quick and easy referencing.

 

What type of buyer are you?

While the utility of policy management across industries and business sizes is subjective, there are some businesses that will find policy management software indispensable. We discuss them here.

  • Businesses in heavily regulated industries: Certain sectors, such as healthcare, telecommunications, and financial services, are more heavily regulated than others. Policy management software can help organizations in such sectors define and organize their policies to meet industry mandates.
  • Large businesses: The larger the scale and scope of operations, the more detailed are the policies and procedures. In such cases, the centrality of document storage and distribution can be vital to streamline operations and avoid noncompliance.

 

Benefits of policy management software

Here are some of the most notable benefits of policy management software.

  • Minimizes risk across your organization and enhances compliance: You can minimize security risks and react to breaches more quickly if your employees know the policies they need to follow in different scenarios. Policy management software provides a central repository for storing all policy documents and ensures that relevant users can access them quickly when needed.
  • Improves accountability: Audit trails and version histories allow you to track who updated, reviewed, or approved a policy. Additionally, digital attestation allows you to ensure that your employees have read and understood the policies, making them accountable for any noncompliance.
  • Automates policy management workflows and saves time: Policy management systems automatically send notifications to various stakeholders and help eliminate duplicate efforts in creating, reviewing, or editing policies. They also eliminate the need to print physical copies of the policies for approval or distribution.

 

Key considerations when buying policy management software

Along with deciding the features you need in a policy management software solution, it's also important to consider the below parameters.

  • Integrations with office productivity tools: Policy management software that integrates with software such as SharePointOffice365, or Dropbox helps users seamlessly create, review, and approve policies from within those office productivity tools. Integrating with communication tools such as Microsoft Outlook or Slack can aid in the sharing of the policy documents. It should also integrate with your HR tools; governance, risk, and compliance (GRC) software; and more.
  • Cloud-based vs. on-premise: You must decide whether you're more comfortable storing your policy documents in third-party cloud apps or on-premise servers. Cloud-based policy management software allow employees to access the policy documents from anywhere using the internet, is easily scalable, and receives regular updates and upgrades from the vendor. On the other hand, on-premise solutions may suit you better if your organization is not inclined to storing sensitive policy documents on a third-party cloud.

Note: The applications selected in this article are examples to show a feature in context and are not intended as endorsements or recommendations. They have been obtained from sources believed to be reliable at the time of publication.