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 a centralized set of tools and applications that help businesses meet security, financial, environmental, or health regulations set by industry or government bodies.

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

Top compliance management solutions

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 simple, yet powerful architecture that automates and manages end-to-end compliance activities.

With Sprinto, you get a compliance automation toolkit with 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, and any custom framework. 

Key features and capabilities: 

Automatically connects with your existing cloud setup and maps common controls against selected security standards to reduce duplicate effort and save time

Helps to build and manage a fully connected program that eliminates manual intervention by accurately monitoring controls

The customizable dashboard shows a comprehensive view of controls with the status of its progress – failing, passing, due, and critical

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

Use intelligent workflows to manage controls that cannot be automated. Test controls and collect from HRMS, IAMS, and vulnerability platforms at a custom frequency

Configure altering rules and set up role-based access controls. Gain a single view to see passing, failing, critical, and due checks and track compliance progress

Escalates issues in a tiered manner, providing rich content on each failing check and suggests corrective actions against potential risks

Helps to quantify each risk against industry benchmarks by rigorously assessing its impact using a scoring system

Pros	Cons
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	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	Cons
Dashboard offers comprehensive visibility Real-time updates Real-time tracking Incident reporting Rich analysis of compliance status	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	Cons
Eliminates silos Streamlines product lifecycle management Easy configuration and usability User-friendly platform and easy navigation	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	Cons
Sophisticated analytics and ML-based algorithms  User-friendly interface  Easy, pre-defined configuration  Flexible governance action options Detailed audit logs 90 day trial period	Limited third-party integration Updating policy configuration is time consuming False positives

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	Cons
Streamlines onboarding activities Easy to use platform Proactive customer support Real-time and accurate data processing	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	Cons
Automates SOC 2 compliance Easy vendor management Intuitive platform Real-time monitoring Tracks compliance processes with precision	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	Cons
Cross framework mapping Robust reporting capabilities Flexible workflows Automates compliance tasks Efficient ticketing and notification	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	Cons
Integrates direct client interaction Easy to use and intuitive tool Robust reporting capabilities Crawls and structures data Highly customizable	Active directory UI requires fine-tuning Lacks granular filtering capabilities Not budget friendly

SAI360

SAI360 offers an integrated approach to manage governance, risk, and compliance to boost business resilience and prevent disruption. It caters to all industries including manufacturing, retail, and financial services. 

The tool offers a unified view of enterprise risks to operationalize GRC programs using a pre-configured module. Users can leverage pre-mapped standards and controls to comply with unique requirements.

 Key features and capabilities: 

• Automates and manages the incident response lifecycle that includes registration, evidence documentation, impact evaluation, and remediation
• Notifies users on changing regulations, and generates an audit trail for user activities and policy changes. Use configurable workflows to create, review, attest, and approve policies
• The intelligent, consolidated dashboard enhances decision making and helps to view changes, impact, status, and progress in a single view
• Offers consultancy services by industry experts for translating regulatory changes into an easy to understand language

Pros	Cons
Quick implementation Ethical decision making Pre-configured business continuity plans Sustainable business model Out of the box metadata fields and workflows	Complicated customization Steep learning curve for reporting feature

Accountable

Accountable empowers teams to manage risks across the organization to ensure compliance with privacy laws and build customer trust. Users gain a unique approach to risk and compliance management using a system that implements different levels of accountability.

The platform focuses on privacy monitoring, strengthening security posture, improving compliance postures for all stakeholders.

 Key features and capabilities: 

• Identifies and mitigates security vulnerabilities through risk identification and data protection impact assessment
• Monitors third-party vendor and partner risks using built-in questionnaires and agreements
• The employee training portal enables compliance teams to stay updated on security awareness, review policies from the dashboard, and report security issues
• Tracks deadlines of global privacy regulations to ensure timely response to data requests and simplifies inbound data processing requests

Pros	Cons
User-friendly dashboard Effective employee training module Streamlines HIPAA compliance Established policies and processes	Basic product – does not fulfill advanced requirements Supports a limited number of frameworks

What capabilities and features should your compliance software have?

Your right compliance software should have a set of features specific to your business needs. Ideally, look for the following features:

Vendor management module: Allows vendors to update their information such as security questionnaires, upload documents,

Altering and escalating: Notifies relevant control owners of non-compliant or risky issues within the cloud setup to facilitate proactive mitigation. 

Policy and Questionnaire Templates: IT administrators can use pre-built customizable template policies or questionnaires to link them to relevant controls.

User Access Control: Facilitates role-based access control to allow only authorized users to manage, view, or edit sensitive data or systems. 

Compliance Monitoring: Connects to cloud infrastructure to monitor data quality, anomalous behavior, and non-compliant activities. 

Data compliance: Monitors data for compliance based on the requirements and best practices of the applicable frameworks.

Incident management: Offers expert guidance and suggestions to mitigate security and compliance risks.

Control mapping: Scans common control requirements for multiple frameworks and reuses the same control to reduce duplicate effort.

Risk assessment: Scans the cloud system for vulnerabilities and misconfigurations and assigns a score to each risk based on the level of severity.

Auditing: Continuously collects evidence of controls and corrective actions to allow auditors to review the documents easily 

Workflow Management: Set up operational workflows to automate compliance activities and streamline processes. 

Continuous compliance, comprehensive control

Compliance is the key to sustainable growth and scaling fast. Continuously monitoring security risks helps to minimize security risks, gain stakeholder trust, and avoid legal penalties due to non-compliance. 

But you need the right tools and systems to move the arc through the daily activities.

 Here’s how Sprinto helps businesses gain control and clarity over compliance management:

• Consolidates risks, internal policies, and controls in a single console to offer a comprehensive view
• Maps each control to the right control owner, standards, or system
• Eliminates silos and multiple tools that hinder true visibility to coordinate activities
• Collects and documents system evidence in a way auditors friendly way
• Automates checks and workflows against selected and custom standards
• Continuously and comprehensively monitors the cloud environment for anomalies and non-compliance

Still not sure? Let our compliance experts help you, just like we helped hundreds of companies scale faster. Connect to us now!

FAQs

What is the best compliance software?

Based on user reviews, capabilities, and popularity the top compliance tools are Sprinto, Complinity, and Arena QMS.

How does compliance management software work?

Compliance management software offers a structured and systematic approach to manage business processes by evaluating company policies, security risks, and scans for non-compliant activities from a centralized platform. 

Why is compliance software important?

Compliance software helps to eliminate manual error, saves time spent on manually collecting evidence, offers enhanced visibility over risks, eliminates silos, consolidates multiple manual tools, and keeps track in real-time. 

What are the basic components of a compliance management system?

A compliance management system should have a centralized view of relevant compliance progress, real-time monitoring capabilities, auditing system, and reporting or analytics systems.