10 Best Compliance Software: Feature, Pro, and Con Comparison

In the summer of 2021, retail giant Amazon paid a hefty fine of $877 million after Luxembourg officials fined the company for breaching GDPR. They made headlines because of their size – but penalties due to non-compliance are not rare. While this is not a major setback for a multi-billion dollar giant, it can be a huge blow to smaller companies, without a compliance software.

If you are looking for a compliance software, your search ends here. We dug into the internet to find the best compliance management tools to equip you with the information you need to make an informed decision.

What is compliance software?

Compliance software is the set of tools and processes that an organization uses to monitor, maintain, and manage their internal controls against the relevant policies or regulations. It helps users monitor internal control or cloud setup against a predefined set of rules to alert admins to take corrective actions.

Compliance software streamlines regulatory adherence for businesses by facilitating communication, monitoring, and documentation. It minimizes errors through automatic feeds and ensures compliance with standards and regulations by monitoring internal systems and controls

It monitors internal control or cloud setup against a predefined set of rules to alert admins to take corrective actions. 

Top compliance management solutions

Compliance management software leverages technology to help companies of all sizes align with industry-specific regulatory requirements. It ensures that businesses adhere to the necessary regulations, helping them avoid compliance risks and maintain operational integrity.

If you are planning to purchase a compliance management solution, it is important to know if its features meet your business objectives. 

Here are the top tools you can consider based on their capabilities:

Sprinto

Sprinto is a comprehensive security compliance automation platform that offers out-of-the-box security programs for fast-growing, cloud-hosted companies. 

It is built on a simple, yet powerful architecture that automates and manages compliance activities like monitoring controls, training employees, alerting teams, triggering remediation, collecting evidence, managing policies, and more.

Sprinto’s compliance automation toolkit offers everything you need to build a well-connected, seamless compliance management system. It integrates with your cloud setup to connect with your apps, code repos, people, and devices to centralize assets, risks, and controls in a single console. 

You can continuously monitor cloud controls, scan for non-compliant activities, identify anomalous behavior, trigger remediations, and collect audit evidence to proactively manage compliance activities without missing a beat.

It supports frameworks like SOC 2, ISO 27001, GDPR, HIPAA, PCI-DSS, ISO 27017, FCRA, CIS, OFDSS, NIST, CCPA, CSA Star.

You can also add any custom framework the magic mapping feature automatically aligns checks to controls, thereby eliminating the headache of figuring it out manually.

Key features and capabilities: 

• Control mapping: Automatically connects with your existing cloud setup and maps common controls against security standards to reduce duplicate effort and save time
• Automate compliance monitoring: Helps to build and manage a fully connected program that eliminates manual intervention by accurately monitoring controls

• Centralized view: The customizable dashboard shows a comprehensive view of controls with the status of its progress – failing, passing, due, and critical
• Seamless integration: Offers 130+ integrations and custom APIs to seamlessly connect with code repositories, devices, and applications to build a centralized view of assets, risk, controls, and compliance gaps
• Smart compliance management: Use intelligent workflows to manage controls that cannot be automated. Test controls and collect from HRMS, IAMS, and vulnerability platforms at a custom frequency
• Single control dashboard: Configure alerting rules and set up role-based access controls. Gain a single view to see passing, failing, critical, and due checks and track compliance progress
• Effective issue management: Escalates issues in a tiered manner, providing rich content on each failing check and suggests corrective actions against potential risks
• Evaluate compliance risks: Helps to quantify each risk against industry benchmarks by rigorously assessing its impact using a scoring system

Pros 

• AI-based recommendations
• Roles based access
• Proactive customer support
• Risk segregation based on criticality
• Centralized risk view
• Pre-built policies and custom reports 
• Prompts corrective actions
• Risk quantification
• Documents activity logs for audits

Cons 

• Does not support on-premise infrastructure

Complinity

Complinity is a legal compliance management software that helps companies eliminate manual paperwork and meet changing regulatory requirements.

The platform combines governance, risk, and compliance in a single platform to boost collaboration and improve operational efficiency.

 Key features and capabilities: 

• Consultancy services by in-house lawyers and chartered accountants offers expertise to identify applicable laws, existing gaps, and statutory requirements
• Keeps users updated on changing requirements like updated due dates, penalty changes, and more in real-time
• Triggers alerts to notify users, escalates issues, and continuously alerts users to manage and track high-risk non-compliant activities
• Streamline compliance processes by centralizing document repository, establishing compliance monitoring, managing risk exposure, and offering real-time data access to drive efficiency

Pros 

• Dashboard offers comprehensive visibility
• Real-time updates
• Real-time tracking
• Incident reporting
• Rich analysis of compliance status

Cons 

• Setting up the tool is challenging
• Lack of compliance mapping duplicates work

Arena QMS

Arena QMS helps to quickly launch products from a secure system in a way that ensures compliance.

It improves data visibility by managing the end-to-end product lifecycle, centralized document control records to eliminate silos by leveraging a single quality system, and unifies compliance processes to simplify audit preparation.

 Key features and capabilities: 

• Fully connected and closed-loop quality management system continuously improves, supports, and controls quality processes
• Ensures audit readiness by managing training plans, policies, and procedures in a compliant friendly manner
• Tracks and resolves product-related issues using a ticketing system that links products, projects, and quality records
• Enables teams to create documents and follow up with compliance processes. Links all documents, product changes, and quality issues to simplify complaint management

Pros 

• Eliminates silos
• Streamlines product lifecycle management
• Easy configuration and usability
• User-friendly platform and easy navigation

Cons 

• Poor customer support 
• Uploading bulk data causes error
• Third-party integration requires manual intervention

Microsoft 365 E5 Compliance

Microsoft 365 E5 Compliance offers a comprehensive suite of compliance and data governance solutions that help businesses manage risks, protect sensitive data, and maintain regulatory requirements. 

Key features and capabilities: 

• The compliance management module simplifies compliance by translating compliance legal requirements specific controls
• Controls encryption keys help to meet regulatory or compliance obligations for controlling root keys
• Offers pre-built assessment for common industry and government standards and custom assessments 
• Offers step-by-step instructions to help teams comply with applicable standards and regulations
• Scores risks based on compliance and measures progress on completing actionable items to help teams understand the status of progress
• Offer over 350+ regulatory templates to facilitate quick creation of assessments

Pros 

• Sophisticated analytics and
• ML-based algorithms 
• User-friendly interface 
• Easy, pre-defined configuration 
• Flexible governance action options
• Detailed audit logs 90 day trial period

Cons 

• Limited third-party integration
• Updating policy configuration is time consuming
• False positives

Also check: Compliance Training: Essential Skills for Regulatory Adherence

iComplyKYC

iComplyKYC helps to ensure compliance for KYC (Know Your Customer), KYB (Know Your Business), and AML (Anti-Money Laundering) obligations.

It enables users to seamlessly navigate digital compliance challenges including changing regulations, system inefficiencies, trust breach instances, and insufficient data controls.

Key features and capabilities: 

• Integrates easily with existing systems to streamline compliance measures.
• Facilitates compliance checks using a dedicated web and mobile platform to ensure uninterrupted business operations
• Streamlines processes, secures transactions, and automates workflows to facilitate business growth by managing complex compliance activities.
• Prevents money laundering by checking global sanctions, watchlists, and media databases

Pros 

• Streamlines onboarding activities
• Easy to use platform
• Proactive customer support
• Real-time and accurate data processing

Cons 

• Missing document features
• Not budget friendly

Secureframe

Secureframe is a cloud-based compliance management software and security automation platform.

It helps organizations achieve, implement, or maintain compliance with popular security frameworks like SOC 2, ISO 27001, PCI DSS, HIPAA, GDPR, CCPA, and NIST.

Key features and capabilities: 

• Monitors the data quality and triggers alerts based on violations, non-compliance, suspicious activity, or unrecognized behavior pattern
• Leverages artificial intelligence to streamline compliance activities to manage security, risks, and assets using automated tests, readiness reports, and integration library
• Identifies risks based on technology inefficiency, human factors, or external threats and triages them into risk type, severity, or custom criteria
• Allows IT teams to create and compare recovery plans using out of the box templates and policies
• Tracks compulsory regulations and mandatory certifications required by government bodies to prevent risks due to non-compliance

Pros

• Automates SOC 2 compliance
• Easy vendor management
• Intuitive platform
• Real-time monitoring
• Tracks compliance processes with precision

Cons 

• Some workflows are manual
• No ad hoc reminders

Also, check: Secureframe Alternatives: Compare Top Competitor Pricing, Pros, Cons, & Rating

Apptega

Apptega helps to manage cybersecurity and compliance management initiatives using automated framework mapping, policy mapping and predesigned templates. It also offers access to expert consultancy services.

The tool supports popular privacy and security compliance frameworks like SOC 2, NIST, CMMC, ISO, CIS, PCI, GDPR, and HIPAA.

 Key features and capabilities: 

• Helps to build, manage, implement, and maintain cybersecurity and compliance programs using deep visibility and robust reporting capabilities
• The questionnaire-based assessment module evaluates security posture.
•  Set up assessments using pre-defined, customizable templates
• Automate security programs to meet audit requirements and customer requests for multiple frameworks
• Offers real-time risk assessment, security compliance scoring, project lifecycle management, vendor management, and collaboration from a single console to facilitate complete visibility

Pros 

• Cross framework mapping
• Robust reporting capabilities
• Flexible workflows
• Automates compliance tasks
• Efficient ticketing and notification

Cons 

• Clunky and confusing UI
• Not enough integrations

Compliance Manager GRC

Compliance Manager GRC helps organizations reduce IT risks by proactively staying compliant with government regulations.

It automates data gathering, streamlines issue management, and simplifies documentation for audit requirements from an easily accessible web-based portal.

 Key features and capabilities: 

• Helps organizations meet and stay compliant with HIPAA (Health Insurance Portability and Accountability Act)
• Measures organizational controls against security risk assessment to meet auditing requirements
• Manages, organizes, and centralizes PHI (protected health information) and document related processes to ensure compliance with HIPAA
• Structures data in a way that enables users to accurately extract useful insights.
• Pre-built customizable performance reports and analytical dashboards simplify administrative functions

Pros 

• Integrates direct client interaction
• Easy to use and intuitive tool
• Robust reporting capabilities
• Crawls and structures data
• Highly customizable

Cons 

• Active directory UI requires fine-tuning
• Lacks granular filtering capabilities