Guide to Compliance Management Software

The necessity for a regulatory compliance management solution is a fact of life for the modern company. As business owners and leaders do their best to keep up with new regulations and comply with a complex mix of mandates from different regulatory agencies, they often find that they need to consider purchasing or updating current compliance management software.

The following are some types of software that contain compliance management software capabilities:

1. System-based compliance management application programs

2. Web-based compliance management solutions

3. Compliance and tax management software

4. Contract management compliance software

5. Enterprise resource planning software

Action Steps
The best contacts and resources to help you get it done

Visit websites that provide various types of information about compliance management software

Informational websites offer descriptions, explanations and instruction in choosing and using compliance software. This info often includes methods for assessing your own company's needs.

I recommend: Bitpipe.com provides written information, webcasts and podcasts that can give you the background you need to determine the best type of compliance management software for your company.

Look for compliance management systems that address multiple regulatory agencies' requirements

Compliance software products that offer an integrated approach to regulatory compliance provide the best overall value for your company, giving you a common framework for both general and industry-specific mandates.

I recommend: MetricStream offers compatible compliance management solutions for various specific regulatory acts and mandates.

Consider web-based compliance management software for greater convenience

Web-based compliance management solutions--also referred to as on-demand or SaaS (Software as a Service)--offer advantages that system-based software doesn't provide. Up-front costs are lower, since you needn't purchase your compliance management application. This also means you won't need to take responsibility for maintaining, updating or upgrading the software, and you won't be required to troubleshoot problems that may arise or hire an IT expert to do so for you.

I recommend: IBS offers a compliance management download, which is an overview of its CompliantPro software, designed to help you manage the entire compliance cycle. Qualys also provides an on-demand compliance management solution.

Use websites that compile information and resources from various vendors in a single location

Some websites do all the research for you, gathering information about a variety of software options. Compliance management applications from many different vendors are featured on these sites, along with links to vendor websites.

I recommend: Capterra offers links to a number of compliance software vendor sites and adds to your convenience by allowing you to request information from multiple vendors at the same time.

Consider vendors who give their quality management software compliance management components

Many enterprise-wide software programs incorporate a compliance management software component into their overall package, which can help you better integrate all parts of your operation.

I recommend: Sparta Systems, Inc. has a compliance management solution built into its quality management software application, as does ETQ.

Check price-comparison sites that offer price quotes for enterprise resource planning software

Since enterprise resource planning software often contains a compliance management component, checking these sites will give you one more method for finding the best value for your company's compliance management needs. It will also provide a good comparison of compliance software options that are available to you.

I recommend: Vendor Guru provides price quotes for a variety of software, based on your answers to a few simple questions about your organization.

Tips & Tactics
Helpful advice for making the most of this Guide

• Be sure to fully investigate your many available options by doing a thorough comparison of compliance software. Do this by taking advantage of any product demos, webinars, webcasts or free-trial downloads offered by various vendors to help you become better acquainted with their products.

The official source of Compliance Management Software is
the Compliance Management Software page at Business.com