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As a business owner, you would know how critical compliance management is for the success of your organization. These policies, laws, and regulations are made for the safety of people and the company.
Compliance Management is not a new thing. Even before the technology revolution, organizations were maintaining compliance manually. So what changed now?
With the ever-increasing compliance level, the cost of personnel is also going high. Did you know that the personnel costs account for more than 70% of the total compliance costs? Besides, if you fail to maintain compliance, be ready to face heavy penalties.
That’s why businesses need a sustainable solution that can help increase compliance performance without adding more compliance employees. This is where compliance management software comes into the picture.
What Is Compliance Management Software?
Compliance management software is a set of applications that allows organizations to continually track, monitor, and audit various aspects of compliance in the industry. It ensures that business processes are in alignment with the applicable policies, laws, and standard regulations.
For instance, an automated compliance management software solution can help streamline compliance with data privacy regulation, such as the Privacy Act 1988 in Australia.
Some of its core functionalities include policy management and compliance registry, compliance monitoring & reporting, regulatory intelligence and channel management, etc.
Even implementing compliance technology does have a cost attached to it. However, it is much lesser than the cost of adding more employees to ensure compliance by maintaining it on Spreadsheet or Excel.
Let’s look at some of the best compliance management software solutions that you can consider using for your organization.
Best Compliance Management Software to Consider
1. Avantra
Avantra is an enterprise-grade solution designed to help organizations ensure compliance. It can automatically track and document the most significant changes, ensuring that the company stays adhered to change management and security policies every time. It even reveals who made the changes and the purpose of it.
What’s more, it makes the whole audit process smooth. It provides accurate and readily available information, making auditing a much simpler and quicker process. Avantra can be deployed on both on-premise and as a cloud-based solution.
Features
- Performance analytics
- Multi-cloud management
- Customized reporting system
- Alerts and notifications system
- Database management
Pros
- Easy-to-use interface
- Active and eligible customer support
Cons
- Some users found trouble with configurations
Pricing
- Avantra: Quote on request
- Avantra Pro: Quote on request
2. JSEAsy
JSEAsy is a robust safety management software built to help manage large and complex workplaces. The software is fully adaptive to suit the compliance regulation of Australia. It offers Occupational Health and Safety (OHS), Workplace Health and Safety (WHS, Read Here), and other necessary compliance — all succumbed to one platform.
Furthermore, it is relatively easy to set up and offers an interactive dashboard to monitor all changes and adherence.
Features
- Alerts and notifications
- Business process control
- Auditing management
- Corrective and Preventive Actions (CAPA)
- Risk assessment
Pros
- Detailed guides and tutorials
- Rich and intuitive interface
Cons
- Errors while printing out templates
Pricing
- Starts at $160.00 (AUD) per year, per user
3. Donesafe
Donesafe is one of the top leading compliance management software in Australia. It allows you to choose from 30 apps to create a personalized solution based on your organizational needs. It ensures process efficiency by automating repetitive tasks and allowing personnel to focus more on high-level preventive tasks.
No wonder Donesafe is trusted by more than a million workers, including Audi, Brickworks Limited, Skycity, and more. Most importantly, Donesafe is accessible from anywhere using any device — computers, smartphones, and laptops.
Features
- Corrective and Preventive Actions (CAPA)
- Document control
- Equipment management
- Risk management
- Audit management
Pros
- Reporting and analytical tools
- Excellent customer service
Cons
- No offline mode available
Pricing
4. Resolver
Resolver is an integrated solution offering risk management and compliance capabilities for your organization. It can effectively collect data and manage compliance changes from multiple sources. Besides, the system automatically prioritizes and assigns regulatory changes to respective owners.
What sets it apart is that it allows you to prioritize your highest risk regulations. Thus, it reduces your exposure to damage your reputation and helps identify and minimize the risk of non-compliance as soon as it happens. Some of its top users are Adidas Group, Vodafone, and more.
Features
- Audit trail
- Corrective and Preventive Actions (CAPA)
- Safety incident management
- Risk assessment
- Reporting tools
Pros
- Highly customizable
- Dedicated support team
Cons
- Some users complaint of long downtime
Pricing
5. Zenefits
Zenefits is a market leader in offering one of the best compliance software solutions for Australian businesses. It provides compliance solutions as an integrated solution with its HR software. It ensures that companies adhere to all HR policies and payroll compliance to avoid any kind of conflicts and penalties for not paying salaries on time.
Not only that, but it also takes care of documentations, keeping you in compliance with the 20,000 words long Affordable Care Act (ACA). Zenefits is an ideal solution for all startups and small businesses that are on a tight budget.
Features
- Advisory services
- Employee database
- Payroll management
- Self-service portal
- Benefits management
Pros
- Easy-to-use interface
- Highly robust functionalities
Cons
- Many users complaint about missed filing returns
Pricing
- Essentials: $8 per user per month
- Growth: $14 per user per month
- Zen: $21 per user per month
6. Certainty Software
Certainty Software is a powerful yet straightforward audit software that manages and reports businesses’ risk and compliance. It easily collects, collates, and reports accurate and meaningful metrics to help through the audit trail. More than 100,00 professionals have used this software, including companies like Borden, Kellogg’s, Mondelez, and more.
What’s more, Certainty Software offers management tools to help track and take corrective actions in case of any deviation.
Features
- Optical Character Recognition (OCR) capability
- Image reporting
- Audit management
- Defect training
- Risk assessment
Pros
- Easy-to-configure and flexible
- Responsive dashboard
Pricing
- Standard: $14 per user per month
- Corporate: Quote on request
7. Integrify
Integrify is a secure compliance software that provides a consistent and auditable workflow. It ensures that the organization stays strictly adhered to all their policies and procedures. It covers a vast range of compliance policies, including internal security protocols, HIPAA, incident management, and other compliance requirements. Integrify casts a safety net for your business.
Moreover, it uses an open API to integrate with existing applications, such as ERP, Customer Relationship Management, and more. Thus, it becomes easy to collect data from multiple sources and consolidate them into one.
Features
Pros
- Admin-based control
- Mobile access
Cons
Pricing
8. iGrafx
iGrafx offers an integrated compliance solution in its full-fledged business process management (BOM) solution. The best part is that it can be deployed both on-premise and as a cloud solution. iGrafx offers a holistic solution to quality risk management, compliance, and governance by meeting the requirements of several healthcare, environmental, and other regulations in a secure and controlled manner.
Furthermore, iGrafx can help identify potential compliance issues by reporting processes and risk gaps. It also offers data privacy management through user-specific access controls.
Features
- Process/Workflow automation
- Risk management
- Surveys & feedback
- Version control
- Environmental compliance
Pros
- User-friendly interface
- Highly scalable
Cons
- Lack of in-depth training modules
Pricing
9. MOVEit
MOVEit is an award-winning file transfer software that ensures complete compliance with data protection. It is known to provide full control and visibility over file-sharing or transferring activities. MOVEit automates the compliance reporting process to simplify the whole auditing process. It also offers in-built templates for service-level agreement (SLA), governance, and regulatory audits.
Moreover, it helps identify risk and immediately alerts you about unsecured email file sharing. MOVEit is trusted by over 1000+ companies, including Disney, jetBlue, and more.
Features
- Risk management
- Access control
- Process automation
- Mobile managed file transfer
- Flexible deployment
Pros
- 24*7 customer support
- Easy to setup and upgrade
Cons
Pricing
10. Riskware
Riskware is one of the best compliance management software solutions, ensuring complete organization compliance adherence. It can help you with internal policies as well as regulations set by the government. It allows you to easily assign compliance obligations to the appropriate personnel to make sure that all the commitments are met within the allocated time frame.
In fact, it offers many standard reports that enable managers to monitor their compliance environment in real-time.
Features
- Business process control
- Custom reporting
- Exceptions management
- IT risk management
- Predictive analysis
Pros
- Responsive dashboard
- Reliable customer service
Pricing
Wrapping it Up
Businesses looking to improve their compliance levels while at the same time optimizing their costs of compliance, there’s no better solution than implementing compliance management software.
Get in touch with our team if you need help in picking up the best compliance management software for your business.
Need Any Technology Assistance? Call Pursho @ 0731-6725516
