Compliance Software Solutions

Goals

To obtain a list of compliance software solutions in the market along with details about 1) price, 2) Identify if it is a SaaS-based solution or it is an on-premise solution, 3) ratings, 4) features, 5) date of first release, 6) Subscription and single purchase terms of the solution, 7) details about the compliance framework the solution addresses (i.e. NIST, ISO, HIPAA, GDPR), 8) Pros of the software (advantages), and 9) Cons of the software (disadvantages).

Early Findings

During our initial search, we reviewed several private companies' databases including Capterra, Software Suggest, Finance Online, Gartner, and others. Through this research, we were able to sort out the highest rated compliance software solutions which were LexComply, VisibleThread Docs, CompliCheck, Komrisk, DriveStrike, LogicGate, vRealize Configuration Manager, Thomson Reuters Compliance, ProCalV5, and Resolver. A summary of our findings is provided below:

LexComply

  • It is one of the highest-rated compliance software in the market. It enables users to know, delegate, report, and manage their regulatory compliance.
  • Capterra Rating: 5
  • Software Suggest Rating: 5
  • It is a SaaS-based solution.
  • Some of its features include environmental compliance, audit management, archiving & retention, and risk management.
  • It was released on Feb 10, 2015.
  • It comes with a free trial. However, its actual cost is not disclosed by the vendor.
  • LexComply addresses HIPAA and ISO compliances.
  • Advantages:
    • It keeps on updating with every change in the compliance rules.
    • The software provides an advance reminder regarding due compliance and compliance summary on a single page.
  • Disadvantages:
    • It only supports Web App with no support to Android and iOS native operating systems.

Proposed next steps:

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We recommend providing a competitive landscape of the remaining top compliance software solutions including VisibleThread Docs, CompliCheck, Komrisk, DriveStrike, LogicGate, vRealize Configuration Manager, Thomson Reuters Compliance, ProCalV5, and Resolver. For each software, we will provide details on 1) price, 2) Identify if it is a SaaS-based solution or it is an on-premise solution, 3) ratings, 4) features, 5) date of first release/founding date, 6) Subscription and single purchase terms of the solution (as available), 7) details about the compliance framework the solution addresses (i.e. NIST, ISO, HIPAA, GDPR), 8) Pros of the software (advantages), and 9) Cons of the software (disadvantages).
Additionally, we recommending providing additional top 5 compliance software solutions in the market based on their ratings on software advertisements sites like Capterra. For each software, we will provide details on 1) price, 2) Identify if it is a SaaS-based solution or it is an on-premise solution, 3) ratings, 4) features, 5) date of first release/founding date, 6) Subscription and single purchase terms of the solution (as available), 7) details about the compliance framework the solution addresses (i.e. NIST, ISO, HIPAA, GDPR), 8) Pros of the software (advantages), and 9) Cons of the software (disadvantages).
Alternatively, we can provide a competitive landscape of the remaining top 5 compliance software solutions including VisibleThread Docs, CompliCheck, Komrisk, DriveStrike, and LogicGate. For each software, we will provide details on 1) price, 2) Identify if it is a SaaS-based solution or it is an on-premise solution, 3) ratings, 4) features, 5) date of first release/founding date, 6) Subscription and single purchase terms of the solution (as available), 7) details about the compliance framework the solution addresses (i.e. NIST, ISO, HIPAA, GDPR), 8) Pros of the software (advantages), and 9) Cons of the software (disadvantages).