Top 12 Compliance Management Software Tools for Streamlined Regulatory Operations

Compliance management software is important for all businesses, no matter their size. It helps with setting up and maintaining compliance programs, creating company policies, deploying corrective actions, alerting suspicious activity, and helping companies with security threats.

That’s why it’s important to make sure you select the right one for your company. There are lots to choose from, so we’ve compiled a list of the top 12 compliance management software and laid out what each of them are best at to help you make your decision.

If you don’t know what to look for, don’t worry! There’s a list of features to look out for under the list.

Let’s dive in!

Process Street

Process Street is a versatile compliance management tool that streamlines and automates the management of various compliance activities. It provides customizable templates and checklists, allowing organizations to create, execute, and monitor compliance procedures with ease. Process Street simplifies regulatory adherence, audits, and documentation, enhancing overall compliance management efficiency.

Best for: Workflow automation.

Key features:

• SOC 2, Type 2 compliant.
• Role-based permissions.
• Authentication.
• Compliance templates.
• Workflow documentation.

Pros:

• Has tons of premade templates.
• Users can build workflows quickly with AI.
• Has tons of third-party integrations.
• Comes with data sets to connect teams.

Cons:

• Pricing isn’t shown on the landing page.

MDaudit Enterprise

MDaudit Enterprise is a specialized healthcare compliance and audit management software designed for medical practices and facilities. It assists in tracking, organizing, and monitoring compliance with regulatory requirements, coding standards, and billing practices. MDaudit Enterprise helps healthcare compliance teams maintain financial integrity and minimize compliance risks in a complex regulatory environment.

Best for: Healthcare compliance.

Key features:

• Corrective and preventive actions.
• Electronic payments.
• Corrective and preventive actions.
• Risk analysis.

Pros:

• HIPAA compliant.
• Users can run their own reports.
• Excellent customer support.

Cons:

• Some users have reported problems with implementation. 

Onspring

Onspring is a versatile software platform for risk management, compliance, and workflow automation. It empowers organizations to streamline processes, manage data, and ensure compliance with various regulatory obligations and standards. Onspring offers customizable solutions for risk assessment, audit, vendor management, and more, enhancing efficiency and visibility in critical business operations.

Best for: Internal audit management.

Key features:

• Audit planning.
• Incident response checklists.
• Process change management.
• Service level agreements.

Pros:

• Top-notch customer service.
• Highly customizable.
• Very user-friendly.

Cons:

• It can be difficult for some users to configure to individual needs.

Risk Cloud

Risk Cloud is a comprehensive risk management software developed by LogicGate. It provides tools for organizations to assess, monitor, and mitigate risks across different business processes. Risk Cloud enables customizable risk assessments, automated workflows, and data analytics, helping organizations make informed decisions and enhance risk management capabilities in a dynamic business environment.

Best for: Regulatory change.

Key features:

• Data storage management.
• Key risk indicator monitoring.
• Vulnerability prioritization.
• Risk sourcing.

Pros:

• Sarbanes-Oxley compliance.
• Has a great policy creation feature.
• Highly customizable.

Cons:

• The reporting functions are somewhat limited compared to other products.

Ziflow

Ziflow is an online proofing and collaboration platform, ideal for creative teams and marketing professionals. It streamlines the review and approval process for creative content, allowing multiple stakeholders to collaborate, provide feedback, and finalize materials efficiently. Ziflow simplifies workflow management, improves content accuracy, and accelerates the creative production process.

Best for: Approval processes for creative teams.

Key features:

• Annotations.
• Campaign analytics.
• Deadline management.
• Project time tracking.

Pros:

• It comes with secure data storage.
• A great tool for creative and marketing teams.
• Makes creating proofs quick and easy.

Cons:

• Teams with a lot of proofs may find pages to be visually disorganized.

Ideagen

Ideagen is a software company specializing in governance, risk management, and compliance activities. Their software products are designed to help organizations in various industries streamline processes, ensure regulatory compliance, and enhance governance practices. Ideagen’s offerings assist businesses in optimizing efficiency and reducing risk in their operations.

Best for: Managing vendor compliance data.

Key features:

• Corrective and preventive actions.
• Offline access.
• Risk management and reporting.
• Document coding and control.

Pros:

• OSHA and FDA compliant.
• Makes organizing information very easy.
• Superb security and data integrity.

Cons:

• The training needs to be improved as many users reported issues with it.

Skillcast

Skillcast is a leading e-learning and compliance training platform. It offers a wide range of courses designed to help organizations meet regulatory and compliance requirements, covering topics such as ethics, data protection, and health and safety. Skillcast’s platform simplifies employee training, tracking, and reporting, ensuring organizations remain compliant and informed.

Best for: Compliance training.

Key features:

• Certifications and licensing.
• Course library.
• Progress tracking.
• Performance metrics.

Pros:

• Good for asynchronous learning.
• Courses are available in different languages.
• It can be used on mobile devices.

Cons:

• The content isn’t interactive, so not suitable for all types of learners.

Compfie

Compfie is a compliance management software designed for organizations to streamline their regulatory and compliance needs. It offers features for managing corporate compliance, legal requirements, and reporting. Compfie helps companies stay up-to-date with evolving regulations, ensuring they meet legal and industry-specific compliance standards efficiently and effectively.

Best for: Corporate compliance.

Key features:

• Risk alerts and assessments.
• Compliance tracking and management.
• Real time notifications.
• Reporting and statistics.

Pros:

• It has a free version.
• Archives documents.
• It’s industry-specific.

Cons:

• There is no policy management.

Libryo

Libryo is a compliance management software platform that simplifies regulatory and legal compliance for organizations. It provides real-time access to legal registers and regulations applicable to a company’s operations, helping businesses understand and comply with legal requirements. Libryo streamlines compliance management, reduces risks, and supports legal and environmental responsibilities.

Best for: Legal compliance.

Key features:

• OSHA recordkeeping.
• Hazardous materials management.
• Secure data storage.
• Environmental compliance.

Pros:

• It’s a scalable solution.
• Delivers regulations each individual business needs.
• There are regulatory updates whenever laws are changed.

Cons:

• It’s not a useful tool for freelancers.

Connecteam

Connecteam is an all-in-one employee management and communication platform designed for non-desk employees. It offers features for time tracking, task management, internal communication, and training. Connecteam enables businesses to improve productivity, engagement, and compliance by centralizing workforce management and communication, making it a valuable tool for mobile and remote workforces.

Best for: Employee management.

Key features:

• Benefits management.
• Group scheduling.
• Job posting and tracking.
• Learning and development management.

Pros:

• Improves internal communication.
• Helps with payroll and timesheets.
• Manages both employee onboarding and training.

Cons:

• It doesn’t handle applicant tracking.

Parapet

Parapet is a comprehensive cybersecurity and compliance management tool. It helps organizations assess and enhance their cybersecurity posture by identifying vulnerabilities and ensuring compliance with industry regulations and standards. Parapet streamlines risk management and security measures, providing a holistic approach to safeguarding sensitive data and minimizing security risks.

Best for: Cybersecurity.

Key features:

• Incident management.
• Predictive analytics.
• Customizable templates and reports.
• Monitors potential risks.

Pros:

• Super budget-friendly.
• Risks are color-coded.
• It comes with different options for training.

Cons:

• It doesn’t send out alerts.

Netwrix

Netwrix Corporation is a cybersecurity and data risk management software company. Its solutions focus on data security, audit, and compliance by providing visibility into critical IT infrastructure components. Netwrix software assists organizations in identifying and mitigating security risks, ensuring data integrity, and complying with various regulations and standards.

Best for: Data security.

Key features:

• Access controls and permissions.
• Sensitive data identification.
• Data visualization.
• Customizable reporting.

Pros:

• Works on a broad range of IT systems.
• Detects unauthorized actions with alerts.
• Comes with automation tools.

Cons:

• Shows errors without explaining what they are.

What to look for in compliance management software

Selecting the right compliance management software is crucial for businesses seeking to navigate the complex landscape of regulatory compliance, mitigate risks, and maintain adherence to industry standards. Here are essential factors to consider when evaluating compliance management software:

Regulatory coverage

Ensure the software covers the specific regulations and standards relevant to your industry, as different sectors have unique compliance needs.

Scalability

Choose a solution that can grow with your organization, accommodating changes in compliance requirements and business expansion.

User-friendly interface 

A user-friendly interface ensures that employees can easily navigate the software, reducing the learning curve and increasing adoption.

Customization

Look for software that allows you to tailor compliance processes and workflows to your organization’s unique needs.

Automation capabilities

Automation streamlines routine compliance tasks, reducing manual effort and minimizing human error.

Integration

Compatibility with existing systems and tools, like ERP or CRM, is vital for seamless data exchange and reporting.

Real-time monitoring

The ability to monitor compliance in real-time helps you detect issues early, reducing the risk of non-compliance.

Reporting and analytics

Robust reporting features provide insights into compliance status, helping you make data-driven decisions and prepare for audits.

Document management

The software should offer document control and management features for organizing policies, procedures, and records.

Audit trails

Detailed audit trails provide transparency into changes, ensuring accountability and aiding in investigations.

Notification and alerts 

Automated notifications and alerts help in addressing compliance issues promptly.

Mobile accessibility

Mobile compatibility allows users to access the software from anywhere, which is valuable for remote work and on-the-go compliance checks.

Security

Robust security measures are critical, especially when handling sensitive compliance data.

Vendor support and training

Ensure the software provider offers adequate support and training resources for your team.

Cost and ROI

Consider the total cost of ownership, including licensing, implementation, and ongoing maintenance, and evaluate the return on investment in terms of time and resource savings.

User permissions

Granular user permission settings ensure that only authorized personnel can access sensitive compliance data.

Historical data

Access to historical compliance data helps in trend analysis and forecasting.

Compliance templates 

Pre-configured templates for common regulations can expedite setup and compliance tracking.

Client references

Seek references from current users to understand their experiences with the software and its effectiveness.

Remember that the ideal compliance management software aligns with your unique business requirements and offers a comprehensive suite of features to simplify compliance, reduce risk, and support regulatory adherence. Thoroughly evaluating these factors will help you select a software solution that best meets your organization’s needs.