Companies around the world must operate in accordance with certain government and industry regulations to maintain specific standards and ensure high quality. If these regulations are not properly followed, the resulting service or product may prove detrimental to customers and affect your company’s reputation or even have legal implications. This is where compliance management software comes in.
What is compliance management software?
Compatible management software, also known as GRC software, helps companies large and small to make their processes comply with all legal, safety, industrial and other regulations.
This software can track the compliance regulations followed by the different departments in your organization. This solution is necessary to avoid legal action in case of violation of regulations. It is also important that the quality of any service or product reaches a certain threshold.
What is GRC software: features and functionality?
GRC software is synonymous with government risk management and compliance software. This is an effective method for public companies to manage all IT risk and compliance. These compliances are not only focused on business processes, but also on the workforce.
Features of GRC Compliance Management Solutions
- GRC platforms offer a shorter audit period.
- Intuitive dashboards and reports so any important business decision can be made quickly.
- Automation of detection controls to effectively eliminate any adversary.
- A robust system to receive alerts in real time in the event of a change in regulations.
- Essential Features of Compliance Management Software
When shopping for compliance management tools, you need to look for specific features to get the best performance. We list some of them below:
Businesses or individuals need to be able to access and work with data, even if they are not connected to a network.
With compliance monitoring software, you can easily see how different departments and business processes are performing when it comes to complying with regulations.
Efficient document management
With the help of compliance management software, manual document and form record management becomes more efficient.
The software must be capable of providing integrated learning to compliance officers so that they have adequate knowledge of the standards of regulatory bodies.
Compliance management tools must provide a high level of data security for reports and documents to prevent unauthorized access.
Help optimize workflow and structural hierarchy to minimize the risk of process failure.
Compliance management tools help manage workflow between different departments to eliminate gaps.
Other popular features of compliance management software are fraud management to detect accounting anomalies, workflow management, risk management, and integration skills.
Best Compliance Management Software in 2022
If you are looking for the right compliance management system software, you have come to the right place. We have mentioned the best software that SMEs can use to comply with all the established rules.
1. Compliance Locker
Arkus Compliance Locker is one of the most effective ways to ensure that all necessary requirements are met. It can be used with Salesforce Chatter and captures all posts and comments using custom Chatter fulfillment objects. Compliance officers can track and store activity logged in Salesforce Chatter.
Compliance Locker Governance, Risk, and Compliance Software Features
- Ability to archive Chatter posts, comments, and messages as a specific batch or in real time.
- Strong integration with third-party messaging services specifically for compliance management.
- Blacklisted keyword notification to block any post containing them.
- Customizable retention settings linked to each post, message, and comment.
Compliance Locker GRC Software Awards – is free compliance management software.
The MyEasyISO compliance management solution offers a high degree of customization and flexibility for users. This compliance management tool is very useful for managing compliance such as health and safety, quality, environment and much more.
MyEasyISO GRC platform features
- Simple and friendly interface.
- Ability to design intuitive workflows.
- Efficient customer service in the event of a claim.
- A powerful alert and notification system to alert you to risks before you can find them in real time.
MyEasyISO Compliance Management Solution Pricing: MyEasyISO Compliance Software Pricing starts from 2,124.58 per month.
ProcessGene GRC is a compliance management system that develops cutting-edge GRC and BPM software solutions to serve multi-branch organizations. It enables automated workflow, reduces the cost and time associated with manual work, and manages the organization’s spreadsheets. It offers a comprehensive and comprehensive set of tools and features that enable organizations to improve visibility and accountability. Coordinate mergers and acquisitions, implement business software solutions and business processes to manage and control work.
ProcessGene GRC compliance features: archiving and retention, audit trail, control testing, environmental compliance, FDA compliance, HIPAA compliance, ISO compliance, OSHA compliance, risk alerts, Sarbanes-Oxley compliance, control versions
Wdesk is cloud-based compliance software that empowers teams to do their best with transparency, efficiency and improved productivity. From small teams to large departments, it offers step-by-step configurable workflow and control, assigning and responding to data, documents, dashboards, reports, and more. It enables team management, data management, project management, collaboration and data. Integration of functionalities within the solution, improving the efficiency of the organization.
Wdesk compliance features: archiving and retention, audit trail, control testing, environmental compliance, Sarbanes-Oxley compliance, version control
5. ManageEngine ADAudit Plus
ManageEngine ADAudit Plus is one of the best compliance management software solutions that features enterprise-wide active directory change auditing with reports and alerts. Provides IT administrators with the appropriate business plug-ins to help them perform a change management action. Key features include tools that allow users to audit active directories, Windows server data, and file servers, as well as connection and disconnection logs. Provides real-time reporting on IT regulatory compliance for organizations.
ADAudit Plus compliance features: archiving and retention, audit trail, control testing, HIPAA compliance, ISO compliance, risk alerts, Sarbanes-Oxley compliance, version control
Tallyfy compliance management software is suitable for controlling repeatable procedures without having to maintain a mail chain. It has a robust set of APIs and comes with CRM integration for cross-referencing a customer’s credentials.
Tallyfy Compliance Software Features
Efficient documentation of every record, form and dossier.
Provides better compliance management techniques for multiple departments such as human resources, R&D, IT, sales, finance, etc.
Tallyfy offers strong integration with various third party apps like Slack, Gmail, Outlook and many more.
Tallyfy GRC software pricing: Tallyfy pricing starts at 305.50 per user per month.
InspectAll’s compliance management solution is known for easily creating forms, monitoring valuable assets, and gaining insight into how critical business processes work. InspectAll software shows you customer compliance history and manages it efficiently.
Inspect all the functionalities of the GRC platform
- InspectAllensures ensures secure collaboration where only members of your team can access a particular project.
- It also has a dedicated application to close an audit cycle faster.
- InspectAll generates intuitive reports that provide useful information.
- All regulations and procedures are available to you when you need them.
InspectAll Compliance Management Software Pricing: InspectAll software can be purchased for $ 3,589.81 per month.
8. IBM OpenPages
IBM OpenPages compliance management software uses advanced artificial intelligence tools to identify governance risks. OpenPages can be effectively coupled with IBM Watson AI Assistant and develop compliance strategies for financial controls, IT controls, and internal audits.
Features of IBM OpenPages compliance management tools
- The AI-based method provides detailed information based on advanced and cognitive analyzes.
- IBM has an extensive repository of product documentation where you can find answers to all of your compliance questions.
- The software provides a number of compliance strategies without you having to understand all of the options.
- It comes with methods for monitoring key risk indicators to monitor the main risk factors and an alert system when a threshold is exceeded.
IBM OpenPages Compliance Management System Software Price –
The price of this software is available on request. You can contact us for more details.
We hope you have now understood all the nuances of a compliance management system. We strongly recommend that you invest in this very important software which will help you comply with the rules and regulations that your business must adhere to. You must make an informed decision which must be based on a clear assessment and due diligence. In case you are overwhelmed by the multiple brands available with similar sound characteristics, we suggest that you let yourself be guided by unbiased online information sources that review and rate each piece of software hassle-free.
What is compliance softwares?
Compliance software is used to continually track, monitor, and audit business processes to ensure they are aligned with applicable legal, industry, and security requirements, organizational policies, plus consumer standards.
What system uses compliance?
A compliance management system (CMS) consists of an integrated system of documents, processes, tools, controls, and functions to make it easier for organizations to comply with legal requirements. A CMS also minimizes harm to consumers because of a violation of the law.
What is a compliance process?
Process compliance is the regulation and maintenance of industry standards and guidelines. Most industries have standards and guidelines relating to the execution of their business processes. Some of these are actual laws and non-compliance can result in stiff penalties or even jail time for company officers