Compliance Management Systems

Finding software can be overwhelming. Software Advice helps businesses find compliance management software so they can track regulatory feeds and map regulations to policies.

Showing 1-20 of 120 products

MasterControl Quality Excellence FrontRunners 2020

MasterControl Quality Excellence (a QMS Software Solution) is an integrated quality management system that eliminates the need to paper-based quality processes. It helps life-science companies adhere more efficiently to the ever-changing... Read more

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LogicGate

LogicGate is a cloud-based governance, risk management and compliance (GRC) solution. It is suitable for businesses of all sizes in financial services, pharmaceuticals, life sciences, health care, energy, retail and education industries.... Read more

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Netwrix Auditor FrontRunners 2020

Netwrix Auditor is a security solution that helps organizations overcome compliance and operational challenges. Netwrix solutions allow IT security professionals to identify and classify sensitive, regulated, or mission-critical data... Read more

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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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Enablon

Enablon is a cloud-based environment, health and safety (EHS) management solution that helps organizations track the use of natural resources.  Enablon allows users to create action plans and ensure proper follow-ups with built-in... Read more

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DSRAZOR for Windows

DSRAZOR for Windows provides security access management solutions to organizations of all sizes to help them minimize costs and challenge regarding internal security. DSRAZOR for Windows offers file permission recording, active directory... Read more

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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 policy... Read more

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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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Integrum

Integrum is a cloud-based risk and compliance management solution for organizations of all sizes. It helps in managing quality, health, safety, environment, risk and compliance. Key features include incident management, investigation... Read more

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Athennian

Athennian is a cloud-based legal entity management platform that allows SMB law firms or mid-sized to enterprise-level legal departments to execute legal operations and manage risk and governance. Athennian provides full control over... Read more

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Integrity Next FrontRunners 2020

IntegrityNext is a cloud-based system, which helps small, medium, and multi-national entities measure the sustainability of suppliers. This platform promises security as it is engineered with security tools to restrict unauthorized... Read more

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Jolt FrontRunners 2020

Jolt is a human resource (HR) platform provided by Intuiplan. The system is scalable and appropriate for businesses of varying sizes. Companies in the food and beverage industry, hospitality and travel, retail, and others can use and... Read more

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Alessa FrontRunners 2020

Alessa is an anti-money laundering (AML) compliance software that helps businesses in banking, finance, insurance, retail and other industries streamline operations related to due diligence, sanctions screening and transaction monitoring.... Read more

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ManageEngine ADAudit Plus FrontRunners 2020

ADAudit Plus by ManageEngine is an on-premise auditing solution. Key features include tools that allow users to audit active directories, login and logoff records, file servers and Windows server data. Users can monitor and generate... Read more

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BambooHR

BambooHR is a cloud-based HR management software solution for small and midsize businesses. BambooHR offers small and growing companies a human resource information system (HRIS) that includes an applicant tracking system (ATS), time... Read more

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Compliance Star

Compliance Star is a technology-enabled compliance platform that enables businesses to control and monitor compliance management, workflows, and monitoring of firms authorized by the Financial Conduct Authority (FCA). Compliance Star... Read more

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VComply

VComply is a cloud-based governance, risk and compliance (GRC) management solution designed for midsize and large enterprises. It aims to help businesses stay compliant with industry standards. The solution enables businesses to set... Read more

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WorkClout FrontRunners 2020

WorkClout Performance Support software helps manufacturers and other industrial sectors increase operational efficiency. WorkClout helps industrial labor perform to their highest potential by centralizing on-the-job employee training,... Read more

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Qualio

Qualio is a cloud-based quality management solution for manufacturing businesses in a variety of industries. Key features include document creation and review, collaboration, employee training and audit trails. Qualio enables users... Read more

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Know Your Customer

Know Your Customer is a compliance management solution that helps financial institutions streamline KYC or KYB compliance and anti-money laundering (AML) processes. It allows managers to streamline client onboarding operations, create... Read more

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Buyers guide

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).

 

FrontRunners

Your Guide to Top Compliance Software, September 2020

Software Advice uses reviews from real software users to highlight the top-rated Compliance Management Systems products in North America.

Learn how products are chosen

Explore FrontRunners

“Usability” includes user ratings for Functionality and Ease of Use.“Customer Satisfaction” includes user ratings for Customer Support, Likelihood to Recommend and Value for Money.Reviews analysis period: The reviews analysis period spans two years and ends on the 15th of the month prior to publication.