27 Best Compliance Software Leading in 2024
17 Best Compliance Software Shortlist
Here's my pick of the 17 best software from the 27 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Navigating the world of compliance management software can feel like wandering through a maze of complex regulatory requirements and ever-changing industry regulations. That's where compliance software comes in. As a tool, it centralizes your compliance activities, helping you manage a robust compliance program that responds dynamically to regulatory changes, streamlining the process from policy management to compliance audit.
These software solutions, which can range from user-friendly cloud-based apps to comprehensive compliance management platforms, offer invaluable support in industries such as financial services where compliance with GDPR, EHS, SOX, and other stringent regulations is critical. These tools are also available on iOS, Android, and the Web. This makes compliance software an essential tool in your toolkit.
What is Compliance Software?
Compliance software is a specialized digital tool designed to help organizations adhere to legal, industry, and operational standards. Features like automated checklists, compliance training modules, and real-time metrics make it easier for team members to stay aligned with your compliance management system.
A good compliance management solution can be a game-changer, easing compliance burdens by ensuring that certifications are maintained, information security protocols are adhered to, and change management processes are aligned with risk and compliance needs. The software is widely employed by enterprises of all sizes across multiple sectors, including finance, healthcare, manufacturing, and IT.
This tool helps companies with data privacy, audits, risk management, e-learning, reporting, and industry standards. It reduces legal risks, avoids penalties, and builds customer trust by committing to ethical behavior.
Best Compliance Software Tools Summary
| Tools | Price | |
|---|---|---|
| Deel | Flat rate user pricing, with a free version for businesses with up to 200 people | Website |
| Mitratech | Pricing upon request | Website |
| Hyperproof | Pricing upon request | Website |
| Transcend | From $10/user/month (min 10 seats) | Website |
| MetricStream | Pricing upon request | Website |
| Onspring | Pricing upon request | Website |
| Audit Prodigy | Pricing upon request | Website |
| Digital Business Transformation Suite | From $30/user/month (billed annually) | Website |
| Eptura | From $15/user/month (billed annually) | Website |
| Third-Party Manager | From $35/user/month (billed annually) | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareBest Compliance Software Reviews
Deel is a comprehensive global HR platform designed to manage payroll, HR, and compliance processes for businesses with international teams.
Why I Picked Deel: Deel provides real-time compliance monitoring across 150 countries. This tool uses automation to keep track of ever-changing regulatory environments, including updates to wages, pensions, private insurance, leave policies, and tax obligations. Additionally, the Compliance Monitor offers concise summaries of regulatory impacts in plain language, simplifying internal audits and risk assessments.
Standout Features & Integrations:
Deel offers payroll and benefits to ensure timely payments and local benefits for your team, while the HRIS allows for efficient management of people data, time off, expenses, and performance. Additionally, Deel's in-house visa support and compliant contract creation simplify the hiring and relocation process, ensuring compliance with local laws.
Integrations include Expensify, NetSuite, BambooHR, Skovik, Workday, Xero, QuickBooks, Zapier, Slack, Google Sheets, Airtable, and Clockify.
Pros and cons
Pros:
- In-house visa support
- Compliance for hiring and payroll processes
- Supports multiple currencies and payment methods
Cons:
- Can be delays with local bank withdrawals
- Limited customization options for contracts and workflows
Mitratech's Alyne is a cloud-based governance, risk, and compliance (GRC) platform designed to provide organizations with a scalable and customizable solution for managing their GRC requirements.
Why I Picked Mitratech: Mitratech's Alyne gives your team real-time access to critical compliance data, helping you spot and address risks as they arise. It automates compliance processes, allowing you to customize risk assessments and generate instant reports. The platform also includes a library of pre-built risk controls, helping you standardize compliance efforts across departments. Additionally, its real-time dashboards give you visibility into risk levels, and built-in notifications ensure your team stays on top of emerging threats.
Standout Features & Integrations:
The platform also offers detailed incident management features, allowing your team to track and respond to compliance-related events as they happen. Its audit functionality also helps you maintain a clear record of compliance activities, making it easier to demonstrate regulatory adherence during audits.
Integrations with existing systems and third-party applications allow for a cohesive workflow, simplifying the process of managing complex compliance structures.
Pros and cons
Pros:
- Continuous monitoring and reporting capabilities
- Compatibility with various regulations and standards
- Centralized compliance structure
Cons:
- Initial setup can be complex
- Learning curve for new users
Hyperproof streamlines compliance operations and reduces the risk for companies. It integrates various compliance processes into one user-friendly interface.
Why I Picked Hyperproof: I chose Hyperproof for its comprehensive compliance and risk management approach. It combines compliance management and risk mitigation to provide a clear overview of an organization's compliance status. Hyperproof is the top choice for managing compliance operations and mitigating risk by coordinating all aspects effectively.
Standout Features & Integrations:
Hyperproof streamlines compliance and risk management with automated workflows, risk identification tools, and centralized evidence management.
It integrates seamlessly with popular productivity and project management platforms like Slack, Microsoft Teams, Google Workspace, and Jira.
Pros and cons
Pros:
- Centralized system for managing compliance evidence
- Integrates with popular productivity and project management tools
- Comprehensive compliance and risk management features
Cons:
- It might be more comprehensive than needed for smaller organizations with simpler compliance requirements
- The tool's extensive features may present a learning curve for some users
- Pricing is based on an annual calculation which might not be ideal for all organizations
Transcend is a platform that automates privacy requests and provides insights on data usage for businesses to manage data privacy operations and compliance.
Why I Picked Transcend: Transcend stood out to me due to its focused approach to managing data privacy operations. Unlike generic compliance tools, it provides specialized solutions for privacy compliance. This led me to select it as the best for data privacy operations and compliance because of its commitment to automating privacy requests and providing data usage insights.
Standout Features & Integrations:
Transcend's privacy center helps businesses manage privacy requests through automation. It offers data mapping and inventory features for a better understanding of data usage. Transcend's API-first approach enables integration with different platforms, including CRM, ERP, marketing automation, and customer data platforms, simplifying the creation of a unified system for data privacy operations.
Pros and cons
Pros:
- API-first approach allows for easy integration with various platforms
- Automation of privacy requests for improved efficiency
- Comprehensive features for managing privacy operations
Cons:
- Cost can be higher than some other compliance tools
- The platform might be complex for those without experience in data privacy operations
- Requires a minimum of 10 seats, which may not suit smaller businesses
Best for enterprise-wide governance, risk, and compliance
MetricStream is a versatile solution for managing GRC across an entire enterprise.
Why I Picked MetricStream: In determining the right tools for this list, MetricStream stood out due to its extensive features and capacity to handle complex, enterprise-level GRC requirements. The platform excels in providing a holistic approach to GRC, which justifies why I identified it as the 'Best for enterprise-wide governance, risk, and compliance.'
Standout Features & Integrations:
MetricStream is a tool that helps organizations manage risks by offering features like integrated risk management, policy and document management, audit management, and regulatory engagement tracking. It also has unique capabilities like artificial intelligence and machine learning.
The tool can easily integrate with other enterprise systems, making it a flexible and valuable option.
Pros and cons
Pros:
- High scalability and customization, ideal for large enterprises
- Uses AI and machine learning for risk prediction
- Comprehensive and integrated approach to GRC
Cons:
- It may require dedicated resources to manage due to its extensive features and capabilities
- The platform might be complex for users with simpler GRC needs
- Pricing is not transparent and may be high for smaller organizations
Onspring serves as a platform for the automation of varied business processes. With a range of customizable features, it empowers organizations to develop and adapt workflows to their unique requirements, which aligns it perfectly with businesses needing flexibility in automating their processes.
Why I Picked Onspring: I chose Onspring for this list because of its standout trait: flexible automation. The platform offers customizability in its features that sets it apart from many other compliance software platforms. I judged it as the best for flexible automation of business processes because it allows organizations to develop and adapt their workflows, catering to unique requirements that can evolve.
Standout Features & Integrations:
Onspring is a powerful tool with real-time reporting, automated workflows, and a customizable dashboard. Its robust API capabilities allow it to integrate with various systems and databases, making it a complete solution for process automation.
Pros and cons
Pros:
- Robust API for integration with a variety of other systems
- Real-time reporting aids in decision-making
- Offers a high level of customizability for businesses
Cons:
- Could have a steep learning curve for non-technical users
- Annual billing might not be ideal for all businesses
- Pricing could be high for smaller organizations
Audit Prodigy is a compliance software that provides an efficient and streamlined audit management process. It specializes in simplifying audit reporting and overall management, making it an excellent choice for businesses looking for solutions in these areas.
Why I Picked Audit Prodigy: I selected Audit Prodigy for the list because its focus on audit management and reporting sets it apart from the rest. The tool demonstrates a remarkable knack for audit-related processes, which inspired my decision to include it. I believe it's the best software for simplifying audit management and reporting, given the specialized functionalities it offers for this specific purpose.
Standout Features & Integrations:
Audit Prodigy streamlines the audit process with dynamic risk scoring, automatic report generation, and a task-tracking system.
It integrates with popular software tools, including project management and data analysis software, providing businesses with a comprehensive audit management solution.
Pros and cons
Pros:
- Compatibility with various mainstream software tools
- Dynamic risk scoring offers better insights
- Specializes in audit management and reporting
Cons:
- Limited functionalities outside audit management
- Could be complicated for non-audit professionals
- Pricing could be high for small businesses
Best for comprehensive business process management
The Digital Business Transformation Suite streamlines all aspects of business process management, providing thorough oversight for organizations looking to enhance multiple processes.
Why I Picked Digital Business Transformation Suite: After observing its in-depth handling of business process management, I chose the Digital Business Transformation Suite, a feature that sets it apart from other tools in this space. This comprehensive approach ensures businesses can manage every aspect of their operations within a single system. As such, this platform is best for companies seeking to streamline, control, and perfect their various business processes.
Standout Features & Integrations:
The Digital Business Transformation Suite is an efficient tool for analyzing and improving business processes. It enables users to visualize and comprehend all aspects of their operations. The platform features intelligent reporting and dashboards for clear performance insights, facilitating targeted improvement strategies.
Additionally, integration with other systems like CRM, ERP, and other management software creates a centralized hub for comprehensive business process management and smooth data flow.
Pros and cons
Pros:
- Multiple integrations for a centralized management experience
- Rich feature set for process mapping and analysis
- Comprehensive approach to business process management
Cons:
- Learning curve may be steep for beginners
- Annual billing may deter small businesses
- Requires a minimum of 5 seats
Eptura is a robust contract lifecycle management tool designed to streamline and automate the various stages of the contract process. Its intelligent automation capabilities align perfectly to manage contract lifecycles efficiently.
Why I Picked Eptura: I chose Eptura for this list due to its emphasis on automation, which sets it apart in the landscape of contract management tools. Its robustness in handling contract lifecycles with a keen focus on automation justified my decision to name it the 'Best for automating the contract lifecycle.'
Standout Features & Integrations:
Eptura simplifies the contract process, allowing users to create, negotiate, approve, execute, and analyze contracts with ease. It provides real-time alerts and notifications to keep users informed of contract changes and deadlines.
Eptura integrates seamlessly with popular CRM and ERP systems, streamlining information flow across business functions.
Pros and cons
Pros:
- Integration with popular CRM and ERP systems
- Real-time alerts and notifications for effective contract management
- Comprehensive automation of contract lifecycle stages
Cons:
- May not be suitable for businesses with infrequent or simple contract management needs
- Could have a learning curve for users new to contract automation software
- Might be expensive for small businesses due to the starting price and potential additional costs
The Third-Party Manager tool reduces risks for organizations in their third-party relationships. It's perfect for compliance management and gives an overview of all third-party engagements. Ideal for staying informed about potential risks.
Why I Picked Third-Party Manager: I selected Third-Party Manager after comparing compliance management tools. It excels at managing third-party risks and can handle complex risk factors, monitor vendor compliance, and track contract renewal timelines. I believe it's the best option for managing third-party risk due to its specialized features.
Standout Features & Integrations:
The Third-Party Manager has a centralized database for third-party information, automatic risk assessment, compliance tracking, and contract management abilities. It ensures an organized inventory of all third-party relationships and continuous evaluation of potential risks.
It can integrate with different systems like Salesforce CRM, SAP ERP, and ProcureWare procurement platforms, making it versatile and adaptable to various business environments.
Pros and cons
Pros:
- Useful integrations with CRM, ERP, and procurement platforms
- Comprehensive feature set including compliance tracking and contract management
- Dedicated focus on third-party risk management
Cons:
- The user interface may require a learning curve for users unfamiliar with third-party risk management tools
- The platform could be too niche for companies seeking a more general compliance solution
- Pricing is calculated annually, which may not suit all budgets
Other Noteworthy Compliance Software Tools
Below is a list of additional compliance software that I shortlisted but did not make it to the top 12. Definitely worth checking them out.
- Accountable
For HIPAA compliance and training
- Work.software
For integrating multiple workflows into one platform
- Satori
For ensuring data access governance and security
- Drata
For real-time security compliance tracking
- BambooHR
Good for comprehensive Human Resources management
- Secureframe
Good for fast SOC 2 and ISO 27001 compliance
- OnPay
Good for small businesses needing efficient payroll services
- FastBound
Good for firearm retailers needing ATF compliance
- ETQ Reliance
Good for businesses seeking a flexible Quality Management System
- DocTrac
Good for managing document workflows and compliance
- SiteDocs
Good for digitizing and streamlining safety documentation
- Corfix
Good for structured corporate tax compliance
- UserWay
Good for enhancing website accessibility
- Intellect QMS
Good for dynamic Quality Management Software solution
- Pirani
Good for creating a detailed risk management strategy
- FinScan
Good for financial institutions needing advanced AML compliance
- Descartes Denied Party Screening
Good for comprehensive global trade checks
Selection Criteria for Choosing Compliance Software
In compliance software, I've personally tested and compared dozens of solutions. My goal was to identify tools that met not only standard compliance requirements but also offered superior functionality, user experience, and unique features that set them apart. My top picks result from this rigorous analysis, and I'll outline the specific criteria I used to make these selections.
Core Functionality
- Regulatory Compliance: A tool should provide comprehensive coverage for various regulations relevant to the organization.
- Risk Management: It should enable identifying, assessing, and mitigating potential risks.
- Audit Management: A compliance tool should have an audit trail functionality to track changes and actions.
- Policy and Procedure Management: The tool should allow for creating, reviewing, and disseminating compliance-related policies and procedures.
Key Features
- Integration Capabilities: The ability to integrate with other enterprise systems such as ERP, CRM, or HR systems is a critical feature. It enables data flow and aligns compliance processes with business operations.
- Real-time Monitoring: This feature allows for continuously tracking compliance status, enabling proactive response to any potential issues.
- Reporting and Analytics: These features provide insights into compliance status, risk levels, and audit results, supporting informed decision-making.
- Scalability: As a business grows, its compliance requirements will change. The software should be able to scale and adapt to these changes.
Usability
- User Interface: For a compliance tool, a straightforward, intuitive interface is crucial. The tool should present data and workflows logically, easy-to-follow, enabling users to understand and respond to compliance issues quickly.
- Ease of Onboarding: The software should have structured onboarding and training modules to aid users in understanding and utilizing the tool effectively.
- Customization: Each business has unique compliance needs. The software should allow for customization to meet these specific requirements.
- Customer Support: Given the complexity of compliance, reliable and prompt customer support is a must. The vendor should offer various support channels such as phone, email, and live chat.
Most Common Questions Regarding Compliance Software (FAQ's)
What are the benefits of using compliance software?
Incorporating compliance software into your organization can provide numerous advantages. For one, it can greatly diminish the possibility of facing non-compliance penalties and fines. Additionally, it allows for a dependable and transparent audit trail. It also streamlines the complicated task of handling numerous regulations and standards. Moreover, it offers real-time monitoring and alerts, enabling you to take proactive measures in dealing with potential issues. Finally, automating various manual compliance tasks saves valuable time and resources.
How much do compliance software tools typically cost?
The pricing of compliance software varies significantly based on its feature set, the scale of operations, and the business’s specific needs. Most vendors adopt a per-user/month pricing model, with additional costs for premium features or advanced support.
What are the pricing models for compliance software?
Most compliance software adopts a subscription-based pricing model, typically billed per user per month or year. Some vendors offer tiered pricing plans, allowing businesses to choose a plan that best fits their requirements and budget. Certain vendors might offer a one-time purchase option, although this is less common.
What is the typical range of pricing for compliance software?
Typically, the starting price for compliance software ranges from around $20 per user/month for basic plans to several hundreds of dollars per user/month for more advanced and comprehensive solutions. This wide range reflects the variability in the features and capabilities offered.
Which are the cheapest and most expensive compliance software tools?
On the cheaper end of the scale, UserWay offers a compliance solution starting from $20/user/month. In contrast, solutions like MetricStream and Corfix are more expensive, starting at over $100/user/month.
Are there any free compliance software options?
Free compliance software options are rare due to the complexity and importance of the task. However, some vendors may offer a free trial period or a limited free version of their software for users to evaluate the product before committing to a full-fledged plan. Always double-check the terms and conditions of these free offers, as they may have usage limitations or require you to provide payment details upfront.
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Summary
In conclusion, choosing the right compliance software for your organization involves considering a range of factors, from core functionalities and key features to usability and pricing. You need to select a tool that meets your current requirements and can also scale your business as it grows and evolves.
Key Takeaways:
- Identify Your Needs: The best compliance software for your organization is one that directly addresses your specific compliance challenges and integrates with your existing processes and systems.
- Consider Usability: A tool with a steep learning curve can cause delays and inefficiencies. Look for software that has an intuitive interface and provides ample training and support to help your team adapt quickly.
- Review Pricing Models: Understand the pricing structure of each software. Opt for the one that offers the best value, not necessarily the one with the lowest price. Consider factors like the number of users, additional costs for premium features or support, and whether it's a one-time purchase or a recurring subscription.
What do you think?
The compliance software landscape is vast and dynamic, and the best solution often depends on your specific circumstances and needs. I’ve covered some of the top options in this guide, but there may be other great tools out there that I haven't touched on. So, if you know of compliance software that you think should be on this list, please let me know. Your recommendations and experiences can help make this resource even more helpful.