Top 10 Compliance Reporting Software in 2024

Maintaining regulatory compliance is a familiar challenge for companies, irrespective of their size. Compliance reporting is largely manual and can take up a significant amount of time and resources. And then there’s human error. Needless to say, all of these factors add up—whether it results in inefficiencies or duplication of effort, inaccurate reporting can certainly lead to fines and legal consequences if left unchecked. 

This is where compliance reporting software comes in.

Imagine a platform that helps align compliance requirements and automate reporting for improved accuracy and efficiency. Compliance reporting software doesn’t just generate tailored reports to meet your regulatory needs but integrates with various systems, collects relevant data, and helps organizations maintain compliance.

This blog post explores key features to look for in compliance tools. Learn how to select the right automated compliance reporting tool based on specific regulations your company follows and the customized reports you’ll need to maintain compliance.

What is compliance reporting software?

Compliance reporting software is an automation solution that helps organizations streamline regulatory compliance activities and report accurately on their compliance status and health. It assists organizations in tracking and documenting their compliance efforts and ensures adherence to applicable laws and regulations.

Importance of compliance reporting software

A compliance reporting software makes the data collection, analysis and reporting efficient with real-time tracking and automated workflows. It removes the guesswork from operations and enhances the stakeholder confidence, enabling them to make well-informed decisions.

The compliance management software is also a scalable solution capable of handling large volumes of data as the company grows. This helps in quick adaptation to the changing needs and facilitates easy collaboration across departments with less resistance.

What features should you look for in a compliance reporting tool?

Compliance reporting software fulfill a very specific set of tasks. To understand this better, it’s important to explore some of the salient features every compliance reporting solution must come with.

• Audit trail – Provides a detailed record of security and compliance management activities by tracking actions within the audit like when certain checks were done, by whom, which controls failed, which ones need updating, and more to help with compliance audits.
  
• Compliance posture monitoring – Assesses the organization’s overall compliance health across different regulations and helps you showcase compliance status through a Trust Center.
  
• Real-time monitoring – Actively scans systems and security controls to identify compliance risks and gaps as they occur.
  
• Documentation – Keeps record of compliance-related documentation and automatically generates reports needed for compliance audits.
  
• Gap analysis – Compares current policies and controls to regulatory requirements to identify security lapses and compliance gaps.
  
• Evidence collection and presentation – Gathers, organizes, and presents evidence in an easy-to-comprehend format for smoother compliance audits.

10 best compliance reporting software to boost compliance visibility

When choosing compliance tracking and reporting software, there is no one-size-fits-all solution. You must assess your requirements, evaluate the tool’s key features, and build an ROI case to understand its cost-effectiveness. Take advantage of trials and demos to determine if the tool can adapt to your growing needs.

We’ve curated a list of top ten compliance reporting software to make it simpler for you:

1. Sprinto

Sprinto is an end-to-end compliance automation platform that helps companies streamline compliance tasks, reporting, and audit preparation. It offers comprehensive audit trail tracking, risk scoring, and data analytics to ensure you are audit-ready in the shortest time possible. Sprinto helps you customize automated reports for different compliance frameworks.

G2 rating: 4.8/5

The software integrates easily with your existing tech stack, allowing you to connect with different applications and endpoint devices to monitor entity-level risks and controls. This provides you with complete visibility into your security and compliance posture and helps you design comprehensive risk and compliance reports.

With pre-approved compliance programs, Sprinto helps you put your compliance program on auto-pilot, eliminating the burden of figuring out complex compliance and reporting requirements. 

Sprinto’s smart automation suite features real-time control monitoring and risk assessment. It consolidates risks and alerts the organization when security threats occur or if controls are about to fail.

Features

• Interactive health dashboard to see real-time data on compliance status
• Automation features to automate repetitive compliance reporting tasks
• Out-of-the-box templates to generate comprehensive compliance and trust reports
• Evidence logging and data analytics for audit readiness
• Built-in breach management and incident management modules

Pros	Cons
Real-time risk scoring Customizable compliance workflows Automated evidence collection Automated policy distribution Serves all industries24/7 proactive support	Minor UI glitches

Positive sentiments

“Sprinto’s secret weapon is it’s amazing customer success advisor. Even if you’re a small account, they still dedicate someone to walk hand-in-hand with you through the audit. These advisors have deep security and compliance knowledge” “The platform is like butter, glides with every flow. More importantly, the awesome team that was super responsive and committed throughout our journey. The experience was so good that we are planning to continue with other compliance certifications with Sprinto.”

Negative sentiments

“Nothing really – I think the only thing I would like to see would possibly be a guide for what each section on the platform does – as there are a lot of hidden areas and sometimes it is confusing. However Varun was super helpful so this wasn’t a massive issue”

2. AuditBoard

AuditBoard centralizes audit, risk, and compliance data for streamlined reporting and management. It improves visibility into security gaps and compliance status through interactive dashboards and reporting. AuditBoard’s compliance analytics software  enables automated scheduling of repeatable requests and assessments to build an effective compliance program.

G2 rating: 4.6/5

Features

• Customizable workflows to automate repetitive compliance tasks
• Audit-ready report generation
• Collaboration tools to effectively communicate and manage compliance
• Customizable risk assessment modules
• Audit management features

Pros	Cons
Good report management features Project management and collaboration features Automated evidence collection for external audits Customizable security and compliance modules	Limited risk management functionalities Interface feels obsolete

Positive sentiments

“AuditBoard has an excellent user-friendly interface that assists in communicating audit issues and managing PBC lists. Its centralization feature has allowed us to streamline workflows and provide improved visibility to our organization.” “The connectivity of AuditBoard’s risk platform has fostered better collaboration among our teams, resulting in enhanced decision-making and strategic planning.”

Negative sentiments

“While AuditBoard packs powerful features, there can be a steep learning curve when getting acquainted with the platform. The integration with existing systems may require additional effort.” “The cost can be a concern for smaller organizations, considering the comprehensive nature of the tool. A more flexible pricing structure would be appreciated.”

3. Netwrix

Netwrix is a compliance tracking and reporting platform that helps organizations detect risk, prove compliance, and optimize security operations. It provides automated, risk-based reporting on infrastructure changes and data access to simplify compliance. Netwrix offers interactive dashboards, customizable reports, role-based access controls, and API integrations.

G2 rating: 4.4/5

Features

• Real-time risk monitoring and alerts
• Risk assessment and analysis module to identify risk patterns
• Advanced reporting and log management
• AI-powered search feature to look for specific security information
• Access management features

Pros	Cons
Smart evidence logging Regular report generation Customization options to simplify compliance Risk alerts with real-time monitoring	Incident management module needs improvement User interface with limited navigation

Positive sentiments

“It is a straightforward and effective auditing tool. It helps system admins with auditing Group policies, File Server, Active Directory and other systems. This is the best as compared to other auditors I have seen so far.” “It is a solution that is simple to install and configure, allowing you to be up and running in a couple of hours. From that moment it will be possible to monitor and manage your infrastructure in absolute safety and compliance.”

Negative sentiments

“It would be really useful and convenient to have a web console, so as to make access easier and faster. Depending on the size of the infrastructure, MS SQL licenses may need to be added which will increase costs.” “Its customer support is not very effective and some technical issues take time to diagnose. It is not well suited for those organizations that do not possess spare resources to support it.”

4. LogicGate

LogicGate centralizes audit, policy, and risk data to compliance frameworks. It enables risk quantification, control tests/assessments, audit readiness, and reporting to help organizations make better, risk-aware decisions. LogicGate offers detailed reports, interactive visuals, predictive risk scoring, and automation.

G2 rating: 4.6/5

Features

• Shared risk register for cross-team collaboration
• Pre-built reports and customizable dashboards
• Real-time risk monitoring and insights
• Automated compliance workflows
• Automated evidence collection and log management

Pros	Cons
Drag and drop functionality Excellent customer support Good reporting features Easy documentation and record-keeping	Product navigation needs improvement

Positive sentiments

“LogicGate allows ease of utilization and customization to accommodate the most tech-savvy to those of us just moving away from spiral notebooks and pencils.” “Having the ability to get to the solution from anywhere along with having everything in a single pane of glass will be amazing. The first implementation is one that has gone well. Our onboarding and implementation teams have been great to work with”

Negative sentiments

“I believe that the power user training needs to be reviewed and updated. This is something that I was excited to hear about that LogicGate is working on.” “UI is ugly and confusing. Not much ease in end user experience no third parties want to use it.”

Also check out: Top 5 LogicGate Alternative

5. Vanta

Vanta is a compliance management solution that provides continuous compliance monitoring, always-on certificates, and APIs. It enables quick report generation, evidence collection, audit preparation, and tracking. Vanta provides real-time status dashboards, automated reminders, and seamless integration with your systems and applications to meet compliance obligations.

G2 rating: 4.6/5

Features

• Automated continuous risk monitoring
• Real-time alerts and actionable insights
• Customizable policy templates
• Evidence logging and smart reporting
• Centralized location to store and access compliance documents

Pros	Cons
Intuitive interface Excellent support team Streamlined reporting and compliance Employee management module	Onboarding can be better

Positive sentiments

“Automated compliance monitoring of any kind is excellent for visibility and accountability. Compared to previous experiences with SOC2 audits, it significantly accelerated and reduced stress” “Vanta has been a lifesaver for me and my team. Security is crucial, but keeping up with everything manually was a nightmare. Vanta automates all the grunt work, like chasing down vendor security reports. It’s seriously like magic – suddenly all that extra time feels like a superpower! ”

Negative sentiments

“Since the platform focuses on compliance monitoring, marking resources as out of scope presents challenges. It results in either incomplete tracking of resources or additional work for auditors to filter out what’s deemed ‘out of scope.’ Enhancing the ability to monitor and categorize resources as in scope for specific frameworks would be beneficial.” “While lots of integrations are supported, not all services provided by those integrations are implemented for continuous monitoring by Vanta.”

Also Check out: Top 5 Vanta Alternative

6. Hyperproof

Hyperproof is a compliance reporting tool that simplifies report creation, review, and submission. It centralizes evidence collection and enables collaborative workflows for security and report reviews. Hyperproof provides version control, reminders, permissions management, and integrations.

G2 rating: 4.6/5

Features

• 24/7 compliance monitoring 
• Real-time dashboard to track compliance activities
• Built-in reporting modules
• Centralized location for document management
• Automated workflows and customizable modules for effective compliance management

Pros	Cons
Training material for users Smart risk assessment features Intuitive dashboard Different compliance workflows	Limited customization functionality

Positive sentiments

“Hyperproof makes managing compliance easier by organizing all our tasks, documents, and deadlines in one place. I love how it automates repetitive tasks, like collecting evidence and preparing for audits, which saves us a ton of time and effort.” “Hyperproof has an easy to use user interface that ramps up quickly for new users. Navigation is easy for all levels from user to admin. Automated workflows streamline the compliance process, reducing manual effort and minimizing the risk of human error, which enhances user experience”

Negative sentiments

“While Hyperproof offers a wide range of features, some users may find that certain functionalities are not as robust or customizable as they would like” “Although Hyperproof offers integrations with popular tools and platforms, further integration options with a wider range of software could enhance its compatibility and usability within existing workflows”

Also Check out: Top 5 Hyperproof Alternatives

7. Drata

Drata is one of the top compliance reporting solutions and compliance automation platforms that offers continuous monitoring, evidence collection, and audit readiness for different popular compliance frameworks. It features control libraries, automated mapping, unlimited assessment customization, and real-time readiness visibility.

G2 rating: 4.8/5

Features

• In-built self-risk assessments
• Real-time compliance and security reports
• Actionable insights and analytics
• Security training and employee awareness modules
• Role-based access controls