Compliance Management Systems

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Third-Party Manager

Third-Party Manager is a compliance management solution that helps organizations onboard and monitor external business relationships from within a unified platform. It enables staff members to utilize artificial intelligence (AI) ...Read more about Third-Party Manager

5.00 (1 reviews)

AuditBoard

FrontRunners 2022

AuditBoard is the leading cloud-based platform transforming audit, risk, and compliance management. More than 35% of the Fortune 500 leverage AuditBoard to move their businesses forward with greater clarity and agility. AuditBoa...Read more about AuditBoard

SiteDocs

FrontRunners 2022

SiteDocs is a cloud-based audit management solution designed for businesses of multiple sizes in the construction and maintenance industries. Users can run their safety programs through mobile apps and web browsers. Key features i...Read more about SiteDocs

HIPAA Compliance Software

HIPAA should be simple. That's why Compliancy Group is the only HIPAA software with expert Compliance Coaches holding your hand to simplify compliance. Built by auditors, Compliancy Group gives you confidence in your compliance pl...Read more about HIPAA Compliance Software

4.85 (13 reviews)

ACA

Passport Software’s IRS-certified ACA Compliance Software simplifies year-round compliance and helps to streamline year-end reporting. It provides much more than just forms. Reports include: - The ALE Calculation report determin...Read more about ACA

5.00 (1 reviews)

Digital Business Transformation Suite

Enterprise Process Center, by Interfacing Technologies, is a business process management (BPM) suite that provides businesses several digitization and management programs within a single platform. The solution can be deployed eith...Read more about Digital Business Transformation Suite

4.79 (19 reviews)

Onspring

Onspring is a cloud-based, no-code software for reporting, analysis, process management, and coordination. Our connected solutions for Governance, Risk & Compliance, ITSM, and Business Operations create efficiencies for your teams...Read more about Onspring

4.76 (59 reviews)

Risk Cloud

LogicGate Risk Cloud® is a no-code governance, risk, and compliance (GRC) platform that scales and adapts to your changing business needs and regulatory requirements. It combines a suite of purpose-built Applications with intuitiv...Read more about Risk Cloud

4.74 (31 reviews)

EHS Insight

EHS Insight is a cloud-based environmental health and safety (EHS) and quality management solution. It helps clients track environmental effects, manages security and risks and ensures compliance with requirements. EHS Insight of...Read more about EHS Insight

4.40 (35 reviews)

Compliance Tracking Software

Intelex offers cloud-based Compliance Management Software that helps businesses manage compliance and risk. The software helps users to manage compliance tasks, risks, training, audits and permits, and also features document ...Read more about Compliance Tracking Software

5.00 (1 reviews)

Certent Disclosure Management

Certent streamlines the disclosure management cycle by automating your end-to-end external financial and regulatory reporting processes and connecting directly to your in-house financial and transactional systems. Certent delivers...Read more about Certent Disclosure Management

4.71 (14 reviews)

HSI Donesafe

FrontRunners 2022

Donesafe provides an online all-in-one EHS (Environmental, Health & Safety) management software solution that connects all workers across an organization. Donesafe supports all industry types and organizations large and small. Our...Read more about HSI Donesafe

4.70 (69 reviews)

Compliance Manager

Compliance Manager by Healthicity is an all-in-one compliance and risk management platform made for healthcare organizations of all types. Its Basic, Professional, and Enterprise editions adapt Compliance Manager to any organizati...Read more about Compliance Manager

4.53 (17 reviews)

Employee Compliance Management

Certemy is a leading provider of Employee Compliance Management software for companies that employ licensed and certified professionals. Our software helps companies track and manage employee licenses and certifications across th...Read more about Employee Compliance Management

4.33 (3 reviews)

StandardFusion

Standard Fusion is a cloud-based compliance management solution that is designed for industries such as healthcare, technology, manufacturing, government and retail. Key features include control management, control monitoring and ...Read more about StandardFusion

4.85 (13 reviews)

FoodDocs

FoodDocs helps to create and maintain food safety management systems with minimum effort. The automated setup helps you switch to digital food safety in only 15 minutes. The solution helps the customer to spend less on compliance...Read more about FoodDocs

4.88 (24 reviews)

Accountable

Accountable is a cloud-based compliance and risk management software designed for healthcare practices of all sizes. It helps users manage HIPAA compliance, policies and procedures, HIPAA training, risk assessment and business ass...Read more about Accountable

4.67 (3 reviews)

ManageEngine ADAudit Plus

ManageEngine ADAudit Plus is a Windows auditing, security, and compliance solution. Key features include comprehensive logon auditing, detailed change monitoring, real-time risk alerting, and streamlined compliance reporting for A...Read more about ManageEngine ADAudit Plus

4.28 (39 reviews)

Tipalti

Tipalti is a cloud-based accounting management solution that helps users automate their accounts payable process. It offers a variety of features, including invoice automation, payment remittance, regulatory compliance management,...Read more about Tipalti

SanctionCheck

Stay compliant with the OIG, JCAHO, and CMS directives for ongoing monitoring with access to multiple exclusion, sanction, licensing, and credentialing organization databases. A range of service options from Do-It-Yourself to full...Read more about SanctionCheck

5.00 (3 reviews)

Buyers Guide

Last Updated: August 02, 2022

What is Compliance Management software?

Compliance management software is a program used to continually track, monitor, and audit whether business processes are aligned with applicable laws, organizational policies, and the standards of consumers and business partners.

Of course, a corporate compliance program goes far beyond software, and businesses in certain industries may not even need software to manage compliance requirements. However, large businesses and organizations in sensitive industries (pharmaceutical manufacturing, financial services etc.) generally benefit from an approach to compliance issues that’s partially automated by software.

Compliance management functionality can be found in various types of software. We’ll help you understand your options, so you can make the right choice for your specific business model and industry.

Here’s what we’ll cover:

Which Types of Software Help With Compliance Management?
What Is the Core Functionality of Compliance Software?
Key Considerations for Buyers

Which Types of Software Help With Compliance Management?

There are essentially three kinds of compliance management software (also known as corporate compliance and oversight tools) on the market:

  • All-purpose compliance management platforms
  • Industry-specific compliance management tools
  • Governance, risk and compliance (GRC) software

All-purpose compliance management platforms offer generic capabilities for compliance management across industries. Sample vendors include CMO Compliance and Navex.

Industry-specific tools help businesses in heavily regulated industries (health care, industrial manufacturing, financial services etc.) meet specific legislative and commercial requirements.

GRC platforms include generic compliance management features alongside a broader set of capabilities for risk management and corporate governance (for instance, IT risk management, business continuity planning, and legal management). Sample vendors include Enablon.

Compliance reporting in Enablon

 

Compliance reporting in Enablon

 

In this buyer’s guide, we’ll focus on all-purpose compliance management platforms as well as GRC platforms. Industry-specific tools are so niche in functionality that your specific business model will significantly whittle down your shortlist of vendors.

What Is the Core Functionality of Compliance Software?

Compliance software covers a huge range of business processes, regulations and industry needs. It’s no surprise that platforms are highly diverse in their functionality.

Compliance doesn’t stop at industry regulations and standards (OSHA, ISO etc.). Corporate ethics policies, acceptable use policies, and even business partner policies can all pose compliance issues. For instance, Wal-Mart suppliers have to meet a number of stringent standards that suppliers of many other major retailers don’t have to bother with.

Let’s therefore zoom in on the most important components of a compliance management system:

Policy management and compliance registry Policy authoring and approval workflows, version control, etc. Policies are documented in a global registry that maps applicable regulations to policies.
Controls monitoring Workflow engine enables business units to attest compliance with policies and regulations. Controls are documented in a centralized catalog, and standardized workflows allow for a controlled incident escalation process.
Compliance reporting Enables visibility into violations and noncompliant facilities at various levels of aggregation via dashboards and scheduled reports. Some solutions also support continuous monitoring of KPIs related to sensitive business processes for compliance issues.
Audit management Systematic workflows, case management and reporting features for investigating and resolving compliance issues. Some solutions also support real-time field reporting for audits.
Regulatory intelligence and change management Tracks RSS and XML feeds of regulatory information and alerts published by standards bodies and government organizations. Feeds can then be mapped to existing policies. Some providers also have legal teams that compile knowledge bases of international regulations.
E-learning for compliance training Generic and customizable online courses for training employees on how to comply with policies.
Survey tools Survey modules allow organizations to distribute self-assessments to employees.
Conflicts management Tools for monitoring potential conflicts of interest (employee gifts, employee trading etc.)
Fraud management Risk management features allow for detection of patterns indicating fraudulent activity in financial statements, vendor payments etc. Controls can also be tested for efficacy in preventing fraud, and “whistleblower” hotlines and web forms allow employees to act as a front line of defense.
Multilingual interfaces Interfaces are available for employees who don’t speak English.

Aside from these specific features, the advisory firm Gartner notes in their “Market Guide for Corporate Compliance and Oversight Solutions” that one of the most important functions of compliance software is aggregation: “The huge number of global legal, regulatory and administrative requirements and the variety of standards, guidelines and frameworks require compliance managers to merge and normalize mapping of requirements to controls and other compliance activities.” (The full report is available to Gartner clients.)

This is obviously a daunting policy management challenge that compliance software partially addresses through automation.

Which Compliance Areas Do All-Purpose Solutions Cover?
In addition to basic requirements, such as employee codes of conduct, GRC platforms and all-purpose compliance management, software solutions typically cover the following compliance areas:

Financial/accounting regulations

  • Dodd-Frank
  • Sarbanes-Oxley
  • Model Audit Rule
  • Foreign Corrupt Practices Act
  • Bank Secrecy Act
  • Gramm–Leach–Bliley Act

Industry-specific standards bodies and regulatory agencies

  • ISO
  • Committee of Sponsoring Organizations of the Treadway Commission (COSO)
  • FERC
  • OSHA
  • FDA
  • HIPAA

Regulatory feeds

  • SEC
  • FINRA
  • FDA

Many providers offer out-of-the-box support for dozens of other standards, but if your organization operates in a heavily regulated industry, the first step in your search should be evaluating industry-specific solutions.

Mobile interface in CMO Compliance

 

Mobile interface in CMO Compliance

Key Considerations for Buyers

We’ve seen that the landscape of compliance management vendors remains highly fragmented due to the diverse nature of compliance requirements. Keeping the following considerations in mind will help you evaluate vendors to build an effective shortlist:

  • How much risk management functionality do you need? Risk management and compliance management frequently go hand-in-hand, and many providers offer integrated solutions that can identify compliance risks.
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  • Does your business operate in an industry where continuity planning is necessary? Typically, vendors that handle compliance management also offer business continuity management. Manufacturers, large retailers and other organizations with complex supply chains, as well as organizations that operate in politically and economically unstable regions, can benefit from consolidating these requirements in a single platform.
  •  
  • To what extent does the IT department factor into compliance requirements? IT compliance is, to some extent, its own beast. Not all vendors offer equal coverage when it comes to IT compliance—look for vendors offering out-of-the-box support for frameworks like Control Objectives for Information and Related Technologies (COBIT).