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 55 products
ConvergePoint Policy Management
LogicGate
LogicGate
LogicGate is a cloud-based SaaS solution that helps organizations automate their risk and compliance programs. Instead of depending on spreadsheets and email to handle the most critical risk and compliance activities, LogicGate ce... Read more
MetaCompliance
MetaCompliance
Our policy management software automates your policy management life cycle and provides the “evidential weight” required to protect organisations from brand degradation and reputational threats. From creation and management to pu... Read more
PowerDMS
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, po... Read more
Policy & Procedure Management
Policy & Procedure Management
TotalCompliance is a policy and compliance management solution that helps businesses across legal, education, healthcare, financial and other industries manage organizational policies and procedures. It enables administrators to p... Read more
Lockpath
Lockpath
Lockpath brings visibility to risks frequently managed in disparate sources. It aggregates internal data points from all corners of the organization, as well as from assessments, audits, authoritative sources and external systems.... Read more
TravelPerk
TravelPerk
We’re making it easier, faster, and cheaper to book business trips and keep travelers safe and happy. The result is a smoother booking and travel experience for everyone, that also gives businesses all the control they need. Wit... Read more
DynamicPolicy
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 manag... Read more
Aptien
Aptien
Aptien is a cloud-based solution designed to manage employees and office equipment. The software allows organizing various office topics such as office and employee equipment, contracts, assets and more through a single portal. Co... Read more
Onspring
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
Popular Comparisons
Organizations create policies to govern operational and business aspects, such as ensuring data protection, monitoring the use of company assets, and meeting compliance requirements. But if the policies are managed manually, it's difficult to ensure employee access, proper documentation, and, more importantly, usage of the most up-to-date version.
Policy management software addresses these pain points. It helps users create, review, approve, and store policies according to the established workflow. 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 ensure regulatory compliance and respond more quickly to client escalations or security breaches, thereby indirectly adding value to your bottom line.
- What is policy management software?
- Common features of policy management software
- What type of buyer are you?
- Benefits of policy management software
- Key considerations when buying policy management software
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.
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 the policy document 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. |
| 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 the 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 system:
- 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 workflow and saves time: Policy management systems automatically send notifications to various stakeholders and helps to eliminate duplicate efforts in policy creation, review, and editing. They also eliminate the requirement of printing 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 SharePoint, Office365, 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 management, and compliance (GRC) system; 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 allows 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.