Compliance software supports compliance management through document validation, training compliance, reporting any exceptional events and suggests necessary actions to correct it. This software provides the data in the form of graphs and dashboards to provide visibility in a better format. Compliance tracking software assists in automating your organization’s auditing process, help to develop and implement policies to ensure compliance. Compliance Monitoring Software can be easily installed on your premises, and it also provides an option to be installed at the vendor site where you need to pay the charges on monthly or quarterly basis depending on the usage. It is also having quite a user-friendly interface and doesn’t require an expert. This software is gaining popularity in almost all the organization’s today which includes hotels, banks, pharmaceuticals, product-based companies, etc. We have brought a list of top 10+ compliance management software by ratings and ratings from most trusted sites like GetApp, Capterra, and G2Crowd.
List of Best Compliance Software | Compliance Management System Reviews
1. Deltek Costpoint – ERP Accounting Software for Government Contractors
About Deltek Costpoint : Being one of the best compliance software available, Deltek Costpoint has simple processes like billing, revenue recognition and others to improve efficiency and increase revenue and cash flow. It is a single integrated software that automates and simplifies HR processes. This compliance solution helps contractors, manufacturing industries, etc. to improve their visibility, profitability and efficiency and has a built-in integrated development environment and robust web services architecture.
Deltek Costpoint Compliance Features : Risk Alerts, Sarbanes-Oxley Compliance
“Costpoint is very accessible, easy to use and self explanatory. It is a commercial item that the company uses for time sheets and management. It allows the managers to review timesheets once they are signed and authorize the okay to what hours were stated and not stated by the employee.” – Irum V
1001 – 5000
Not provided by vendor
2. ProcessGene GRC – GRC solution designed for multi-subsidiary organizations
About ProcessGene GRC : ProcessGene GRC is a compliance management system that develops forward-thinking GRC and BPM software solutions to serve multi-subsidiary organizations. It enables automated workflow, reduces the cost and time related to manual labor and maintains spreadsheets of the organization. It offers a comprehensive and complete set of tools and features allowing organizations to enhance visibility and accountability. It coordinates mergers and acquisitions, implements enterprise software solutions and business processes to manage and control the work.
ProcessGene GRC Compliance Features : Archiving & Retention, Audit Trail, Controls Testing, Environmental Compliance, FDA Compliance, HIPAA Compliance, ISO Compliance, OSHA Compliance, Risk Alerts, Sarbanes-Oxley Compliance, Version Control
“Best solution we found for Self-assessments relating to risk and internal controls management. Self explenatory – Easy implementation – Web based – Supports thousands of users – best solution we found for Self-assessments relating to risk and internal controls management” – Evelin Belge
11 – 50
3. MyEasyISO – ISO 9001 Quality Management System Software
About MyEasyISO : MyEasyISO is a cloud-based, on-premise compliance software solution with a comprehensive set designed to implement and manage ISO 9001, 14001, OHSAS 18001, and ISO 22000 standards. As one of the best compliance software, it is tailored to suit the needs as well as demands of any business or organization. A simple, efficient and effective, employee friendly, collaborative solution that always audits ready ISO software for quality compliance.
MyEasyISO Compliance Features : Archiving & Retention, Audit Trail, Controls Testing, Environmental Compliance, ISO Compliance, OSHA Compliance, Risk Alerts, Version Control
“Great and easy concept for implementing ISO 9001. The software make the jobs more easy for quality system officer that runs ISO in company, because the clausul and requirements of ISO standard is systematicaly insert into the software. besides that the monitoring of process is very easy.” – Robby A.
11 – 50
4. Wdesk – See more, do more, and know more with Wdesk
About Wdesk : Wdesk is a cloud-based compliance software enabling teams to perform their best work with transparency, efficiency, and improved productivity. From small teams to big departments, it delivers control and configurable step-by-step workflow, assigning and responding to the data, documents, dashboards, reports, etc. It enables team management, data management, project management, collaboration, and data-integration functionalities within the solution, improving the efficiency of the organization.
Wdesk Compliance Features : Archiving & Retention, Audit Trail, Controls Testing, Environmental Compliance, Sarbanes-Oxley Compliance, Version Control
“I have used Wdesk for almost 3 years and love the product and the customer service. With Wdesk, flipping a document is a simple process. The customer service has been incredible since the first meeting with them. Every year they have a TEC (The Exchange Community) conference. ” – Kathy H.
1001 – 5000
Not provided by vendor
5. ManageEngine ADAudit Plus – Real-Time Auditing for Active Directory
About ManageEngine ADAudit Plus : ManageEngine ADAudit Plus is one of the best compliance management software solutions that have an enterprise-wide active directory change auditing with reports and alerts. It provides IT administrators with the right business add-ons to assist in executing a change management action. The top features include tools that allow users to audit active directories, file servers and Windows server data and log in and logoff records. It gives real-time reports on compliance with current IT regulations for the organizations.
ADAudit Plus Compliance Features : Archiving & Retention, Audit Trail, Controls Testing, HIPAA Compliance, ISO Compliance, Risk Alerts, Sarbanes-Oxley Compliance, Version Control
“Something remarkable is that In real time we monitor changes in Windows advertising objects (users, groups, units, Group Policy objects, computers, schemes, DNS and systems) and receive email notifications from unauthorized network access or modification of events.” – Gerson M.
5001 – 10000
6. MeazureUp– The Digital Solution For Field Audits
About MeazureUp : MeazureUp is a web-based compliance management system that streamlines quality assessments, ensuring consistency across all the multi-unit organizations with real-time data. It scales the growth of chain businesses and manages operational consistency using given data and analytics. It allows organizations to collect data faster and with detail, increasing the efficiency of the whole organization. Top features include compliance management, dashboard integration and issue management, making it a very reliable software.
MeazureUp Compliance Features : Archiving & Retention, Audit Trail, FDA Compliance, Risk Alerts
“It is so easy to train staff and management on how to. Our company has become more eco-friendly because of it! The intricacies of the software allows our brand to know, in real time, if all of our stores are being consistent with the tasks that are bestowed.” – Whitney B.
02 – 10
Not provided by vendor
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7. Cetec ERP – Cloud ERP Software For Manufacturing And Distribution
About Cetec ERP : Cetec ERP is an all-in-one, cloud-based compliance software, designed to be economical for small and medium-sized organizations. Top features include inventory control, document management, scheduling, customer relationship management (CRM) quality assurance, mobile warehousing and others. Built with state of the art database tools and designed to run both small and medium-sized businesses, this software provides the path for manufacturing industries to modernize their systems.
Cetec ERP Compliance Features : Audit Trail, FDA Compliance, HIPAA Compliance, ISO Compliance
“Our previous legacy system presented significant difficulties and costs in the face of impending ISO and AS9100 audits. Upgrading my ERP system to Cetec ERP was essential to my company’s survival.” – Josh Reed
11 – 50
8. ProCalV5 – Calibration solution providing precision asset management
About ProCalV5 : ProCalV5 is a professional compliance management system with extensive knowledge of instrument calibration compliance requirements and continuous product refinement. It automates the workflow and oversight performance and of a single department or an entire enterprise. Due date history, gage management, compliance management, statistical data reporting, label printing, measurement readings, etc., are the top features of this solution. Organizations can get in-depth and accurate insights into the operations with robust reporting and analytics functions for reviewing daily work activities.
ProCalV5 Compliance Features : Archiving & Retention, Audit Trail, Controls Testing, Environmental Compliance, FDA Compliance, ISO Compliance, Risk Alerts, Version Control
“Praxair selected Prime Technologies to implement the ProCal instrument calibration software in all global production facilities. Great response by all Prime team members, excellent demonstrated customer service with response, professionalism which has resulted in a project which is on schedule/on budget..” – Duane Black
11 – 50
9. HIPAA One – Automated HIPAA Compliance Software
About HIPAA One : It is the leading provider of compliance software across the globe and offers risk analysis, compliance, and management automation solution. For both large and small businesses, HIPAA One provides information about compliant with the regulatory body’s policies and keeps up-to-date information about every change in the business legislation. The top features of this solution include vendor contract management, secure ePHI, guided privacy compliance, cyberattack safeguards, threat identification, etc. It also sends monthly reports regarding the network’s security.
HIPAA One Compliance Features : Audit Trail, Controls Testing, HIPAA Compliance, Risk Alerts
“The HIPAA One software strongly encourages a thorough security risk analysis and provides a place to centrally maintain all of your HIPAA compliance documentation. The customer service is timely and always friendly.” – Trish Harkness
11 – 50
10. Rmail – Empower Your Email
About Rmail : It is a cloud-based email and electronic signature solution and a compliance management system that offers email tracking, encryption of sensitive emails and email-enabled signatures, best suited for small to midsize businesses in law, insurance, real estate, telecom and healthcare. RMail tracks essential emails, file transfers and acts as an all-in-one secure email extension. It is user-friendly and automatically generates reports of sent emails, time of delivery, and content by encrypting sensitive emails and attachments for legal compliance.
Rmail Compliance Features : Archiving & Retention, Audit Trail, HIPAA Compliance, Sarbanes-Oxley Compliance
“Each of my employees can use the software without a lot of instruction, knowing their emails are encrypted. Large emails are not a problem sending anymore. We have tried other encryption products, and RMail has been the most reliable and meets our business needs.” – Margie W.
51 – 200
11. NETconsent Compliance Suite – Compliance and user awareness
About NETconsent Compliance Suite : NETconsent Compliance Suite is a set of modules that create a human firewall recognizing and combating cyber-attacks. It delivers a proactive and sustainable approach to the policy management of the associated documents and policies, guidelines and e-learning modules and forms. It works for the public sector as well as corporate, establishing and maintaining compliance regulations including HR policies, GDPR, PCI-DSS, ISO27001, FCA, SOX, etc.
NETconsent Compliance Features : Archiving & Retention, Audit Trail, ISO Compliance, Risk Alerts, Sarbanes-Oxley Compliance, Version Control
“NETconsent’s product enables us to communicate policies to users easily and have real-time knowledge of which policies users have agreed to. It has really taken over the management of policies and removed the burden from the team responsible. I would definitely recommend it to others.” – Nick Russell
51 – 200
Not provided by vendor
Get Quick Comparison of Top Compliance Software
|Compliance Features||Deltek Costpoint||ProcessGene GRC||MyEasyISO||Wdesk||ManageEngine ADAudit Plus||MeazureUp||Cetec ERP||ProCalV5||HIPAA One||Rmail|
|Price||Not provided by vendor||$30.00/ month/user||$30.00/ month||Not provided by vendor||$595.00/ year||Not provided by vendor||$40.00/ month/user||$3,000.00/ one-time||$99.99/ month||$6.99/ month/user|
|Archiving & Retention|
Compliance Software Buyer’s Guide
Every business is a legal entity that has to function in an ecosystem of various compliances. This means every business has to function within a legal framework of its obligations towards the welfare, health, and safety of others. The government, depending on your industry and the size of your business, imposes these compliances. These compliances revolve around taxes, employment and labour laws, antitrust laws, advertising, environmental regulations, and licensing, etc. Management of your compliances ranges from internal and external policies, rules, internal and external auditing, third-party auditing, etc. Many companies still use traditional manual methods of compliance management. These methods are not only cumbersome but also leave a lot to errors and chance. Any errors in compliance management lead to legal problems, heavy fines & penalties, and criminal charges against the defaulting company. With the digitization of all processes and the demand for information sharing in digital formats, it’s in the interest of businesses to move towards digital compliance management software.
» What is Compliance Software?
To simply explain, compliance management software or a compliance management system automates all your compliance and legal requirements. It integrates itself with the regulations that different departments of a business are supposed to adhere to and simplifies the internal standards, regulation, and policies vis-à-vis the external governmental regulations. This is a strategic tool that helps a business in executing all its compliance-related tasks in an integrated and collaborative manner so as to reduce risks and lapses as much as possible.
» How does Compliance Software work?
Compliance management software centralizes your entire compliance related framework and creates libraries to stack all your standards, policies, and regulations. A compliance system, through these centralized libraries, links the procedures, regulations, and standards to your individual business areas. The compliance system then converts these into interactive reports and dashboards with the relevant users and departments within the business. Compliance monitoring software effectively builds the capacities of your legal team with the requisite skills and information necessary to manage the risks that you might face.
» Is it worth investing money in Compliance Software?
Compliance management software is a very reliable way to pre-empt and address the risks that your organization might face while complying to the complex regulatory framework laid down by the government related to your industry. With the compliance management system, you are always better prepared for audits and minimizing unconscious violations. Therefore, it is considered to be a sound investment with long-term benefits for a business.
» Features of Compliance Software
Now that we have established the importance of compliance management software, it is essential to have a customized compliance management solution so as to avoid any errors or lapses in meeting the compliances. For this, it is essential to understand the features of the best compliance management software. Here is a list of the features:
› Monitoring of controls
This is one of the most important features of compliance management software, monitoring of controls helps in businesses to effectively comply with the policies and regulations laid down by the government by documenting the controls in a centralized library. When the controls are integrated and centralized, the workflow becomes simple and easy to execute. This also helps in effective execution of processes.
› Management of policies
Compliance management software helps in simplifying the organizational workflows by documenting all the compliance-related information and making them shareable with the relevant working groups. This concentration of timelines, historical compliance data, information, reports, and bylaws help in maintaining a consistency that is essential for maintaining smooth work processes.
› Alert features
Compliance management system ensures that you receive regular alerts and notifications about all the activities. These alerts are especially beneficial when there have been some lapses in meeting the compliances as they help in taking immediate corrective action as and when required. This also helps the working teams to be proactive and do away with unnecessary and time-consuming escalations.
› Customized dashboards
Compliance systems come inbuilt with dashboards including charts, graphs, and infographics to help the departments’ review information pertaining specifically to their department instead of going through heaps of irrelevant data and information.
› Identification of risks
One of the most important features of the Compliance management system is the cataloging of risks. This helps in documenting them for not only for the use of the relevant departments but also for avoiding making such lapses in the future.
› Risk Matrices
Compliance management system uses matrices that allow businesses to define the rating methods that they would like to use, the values that they would like to compare themselves on, etc.
› Assessment of risks
Another important feature of Compliance management software is that it helps businesses to create their own templates or use pre-installed templates in the software system to assess various risks that they might be exposed to. Some of the risks that these templates allow businesses to asses are information technology risks, risks to their projects, product development risks, business risks or risks to their employee welfare processes.
» Benefits of Compliance Software
We all understand the importance of keeping our business compliant to the various laws and regulations pertaining to the place that you operate and the nature of your industry. We have put together the benefits of using compliance management software. Here is a list of the benefits:
› Effective management of risk
Compliance management solution allows the pre-emptive assumption of risks that your business might be about to face. Not only it pre-empts the risks but also assess them and helps your business in tackling and managing these risks. Since these software use analytics and insights, they help catch potential risks before they become a real threat to your business. With this software, an organization can make more sound decisions about how to ward away compliance-related risks. In the long run, compliance management solutions help business in running more efficiently, being more productive, and staying competitive for a long time to come.
› Efficient business processes
Compliance management solution help a business in devising its processes as per the compliances laid down by the government. This helps not only in effective management of operations but also in letting the processes be risk-free. This way, businesses know what impacts their processes and profits and devise strategies accordingly.
› Reduction in costs
A great advantage of the compliance management system is that it helps businesses in reducing their operating and administrative costs. This is because once you automate and digitize a particular function, use of additional manpower and their salaries, etc. goes down immediately. The processes also become faster and more collaborative. Once you start using compliance management solutions the possibility of human error that might result in lapses in compliances reduces. This further reduces the cost of litigation, fines, and other regulatory complications and loss of reputation.
› The Business has a competitive edge
By utilizing a compliance system, you make your processes and system resilient to any changes in the rules and regulations. By implementing changes, a business stays adept and in line with the laws. Using compliance systems also makes your processes efficient and less time-consuming. Since the processes are now mostly automated, your teams can spend time on bigger things concerning the business and focus on bettering the core areas rather than spending time daily on mundane day-to-day administrative tasks.
› Enhances the credibility of the business
Compliance management software help in businesses stay up to date with the current rules and regulations imposed by the government, following these rules, procedures, and regulations automatically ensures that you are functioning ethically and transparently. The consumer’s trusts businesses that operate ethically and do not violate any rules or laws of the land immensely. In the long run, you are ensured customer loyalty resulting in increased profitability.
» What are the key buying factors to be considered before choosing the compliance software?
Every compliance software comes bundled with multiple features and technologies. Therefore, it becomes a little confusing for businesses to choose the best performing compliance management software specific to the needs of their business. To top it, every business has different needs depending on the country that it is operating and the kind of industry that it functions in. We are sharing some key factors that you should keep in mind before selecting the best compliance management system for your business.
› Does your company need the software?
By now we have understood that to survive, a business has to follow the rules, procedures, and regulations implemented by their respective government. However, making people responsible for reading up on all the laws, ensuring compliance with them, flagging when you are lagging behind anything, filing the required compliance documents is quite challenging. It is always advisable to automate this process to not only save time, which can be spent on meeting more business objectives; it also reduces the chance of human error. Any errors in following the compliances can lead to serious issues like financial penalties, legal damages, and loss of reputation.
› What are your requirements from the software?
Every business will have different requirements from the compliance management system. This will depend on the nature of the industry that the business belongs to and the country that it operates in. For you to make a sound technology investment, you should clearly define your requirements and expectation from the compliance management software.
› What is your budget?
For this very essential software and investing in it, it is important that you earmark a budget separately. In case the budget is not determined, you might end up spending much more than you can afford. On the other hand, you should avoid cutting corners to save money. You should not invest in low-quality software to save money. This might result in larger problems for your business regarding compliances and adherence to laws.
» How to choose Good Compliance Software?
With thousands of software solution options available in the market, it may become quite confusing for businesses to make a sound investment decision. Every brand claims its software to be better than the other. We are listing some points, which will help you differentiate great productive software from a not so productive one.
› Understand your organization’s unique needs:
The compliance management software should be essentially chosen according to the specific needs of your business. For that, you need to understand and study the rules, procedures, and regulations that apply to your business. Then you should conduct an assessment to if you have enough resources to absorb and manage this system on a daily basis.
› Integration and Compatibility:
The Compliance monitoring software that you choose should have compatibility with your existing business networks and tools. If this is not the case then there is a chance that your teams will spend precious time and resources on either buying new business networks and tools or constantly making adjustments between the two to develop collaboration and compatibility.
› Customer testimonials:
The best way to choose a compliance management solution is to assess the reviews of its existing consumers. Mostly the reviews posted by consumers are free of any bias and any commercial interest. These are posted after genuinely using the compliance software.
» Pricing of the Compliance Software
The pricing of Compliance Management System depends on a number of factors- its features, brand name, compatibility with global technologies and networks, numbers of years that the brand has been in existence, compatibility, etc. Generally, the pricing varies between $ 50 - $ 100 a month. It is strongly recommended to use the free basic version before buying the entire software suite to assess the compatibility of the software with your existing systems and tools. This will also give you an idea about how comfortable are the actual users while using the software.
We hope that by now you would have understood all the nuances of a compliance management system. We strongly urge you to invest in this very important software that will help you in adhering to the rules and regulations that your business needs to comply with. You should make an informed decision that should be based on clear assessment and due diligence. In case you feel overwhelmed by the multiple brands available with similar sounding features, we suggest you take guidance from unbiased online information sources that review and rate each software transparently.
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