How many regulations do you think businesses needs to follow? Plenty. Here are a few:
- Sarbanes-Oxley Act (SOX)
- The Can Spam Act of 2003
- Health Insurance Portability and Accountability Act of 1996 (HIPAA)
- Dodd Frank Act
- Payment Card Industry Data Security Standard (PCI DSS)
- Federal Information Security Management Act
There are more. Creating and implementing your company’s business policies around industry standards and regulations is compliance.
Compliance is a part of Governance, Risk, and Compliance (GRC) requirements that businesses need to follow. Using a compliance software like V-Comply can help you create and implement compliance policies. V-Comply lets you collaborate with team members to create and edit compliance documents. Compliance software educates and trains your employees to implement compliance.
V-Comply is one of Capterra’s most reviewed software options. But despite its awesomeness, there are other alternatives that you can choose. I’ve compared some options based on price and features below.
Let’s begin with NETconsent Compliance Suite.
NETconsent Compliance Suite helps automate the policy management life cycle. The software helps you manage policy documents, e-learning modules, procedures and guidelines, and forms. Public sector and corporate customers can use the software to maintain policy compliance related to legislation and regulatory standards such as HR Policies, H&S, ISO27001, PCI-DSS, FCA, PSN, and SOX. NETconsent Compliance Suite includes five modules: Alerter, Reporter, Policy Manager, Examiner, Informer, and Policy Enforcement Point.
- Policy Manager
When other users make changes to policy documents, NETconsent sends a notification to your email. Policy Manager ensures that all your team members read and sign relevant policies. This module has a comprehensive audit trail that records user sessions and how long users viewed policies. Audit trail also notifies you when users decline a policy and sends you their reason. The software maintains a full revision history of policies.
How well do your employees understand your policies? Are your policies difficult to comprehend with all that legal jargon? Do your employees have any knowledge of compliance? Examiner lets you create questions and quizzes to test your employees’ knowledge of your business’s compliance requirements.
Pro-active notifications alert you to health and safety, security, and general administration compliance issues. The Informer module only displays mission-critical messages, which also route to the designated compliance manager. That means you can maintain a clutter-free personal inbox that contains only relevant business messages. This module also offers group-based message distribution. Through this feature, your employees only receive role-specific corporate messages to further reduce information overload.
NETconsent Compliance Suite is available in professional and enterprise editions with a 30-day free trial period. For pricing information, contact vendor.
- Capterra reviewers feel that it is easy to change/create policies to meet your business requirements compared with others in the market. The software’s technical support is prompt at resolving technical issues. Capterra reviewers also like the software’s user-friendly interface as it allows them to easily share digital assets with team members.
- According to Capterra reviewers, the software doesn’t have a streamlined workflow. As a result, it is difficult to launch new compliance policies with the software. Reviewers state that they have to often consult the manuals or contact customer support to fix bugs. They also state that the learning curve to implement this product is high, as there are many parameters to understand.
Not sure whether your business is HIPAA compliant? Just go through this HIPAA Security Checklist.
- Security Analysis
Your businesses must be compliant with changes introduced by The HITECH (Health Information Technology for Economic and Clinical Health) Act. Completing a formal security risk analysis is a crucial step in compliance. Enforcement of compliance based on HITECH has increased significantly, which makes it important for your business to have better security analysis to safeguard patient health information. HIPAA One follows the NIST 800-series methodologies to conduct a security risk analysis, as per federal guidance.
- Privacy Breach and Notification Risk Analysis
Safeguarding your patients’ privacy is important if you want to maintain goodwill. That’s one reason you need to create and maintain transparent, ethical privacy policies. HIPAA One Privacy and Breach Notification Risk Analysis helps you maintain patient privacy through a Gap analysis. This assessment automates, simplifies, and highlights risks in real-time. For instance, when patient privacy is breached you get a notification as soon as the software detects the breach.
- Vulnerability Scanning
Vulnerability scanning checks your network, along with all of your devices and applications, for common vulnerabilities and exploits (CVE’s). Since patient data is stored in disk drive or cloud, it is important to scan them to detect potential weak points. HIPAA One Vulnerability Scanning scans these storage areas for you to identify potential exposures in your system.
Pricing information is available upon contacting the vendor.
Capterra reviewers feel that HIPAA One makes it is easy to document risk assessment results, create and maintain policies, develop a compliance plan, track progress of policy implementation, and report results. Reviewers also feel that the software offers better security features to implement HIPAA compliance. They also like customer care’s prompt responses.
Most Capterra reviewers complain that the software does not have a streamlined navigation from the home screen and that the user interface is not intuitive.
MetaCompliance features product suites specifically tailored to preventing phishing and ransomware and facilitating e-learning, policy management, and employee awareness. Small businesses require better compliance governance to be up-to-date against emerging cyber threats like phishing and ransomware. The software’s Policy Management feature lets you manage compliance policies and maintain a consistent policy lifecycle. With this feature you can coordinate with auditors and regulators to share your compliance reports. A key benefit of this feature is reduction in the effort and cost of managing compliance policies. MetaCompliance also focuses on creating content through a learning management system (LMS) to educate your employees on cyber security to meet your compliance requirements.
- GPDR compliance
MetaCompliance helps you create compliance policies related to the EU General Data Protection Regulation (GDPR). GDPR is the latest cyber security policy implemented by the EU to replace EU Data Protection Directive. If you are a small business and concerned with implementing cyber security policies, make sure that they align with GDPR. However, if you don’t have any business interests in the EU, you can opt for the software’s other product suites like Policy Management, phishing and ransomware, and more, as they are not GDPR specific. To help you align your cyber security policy, MetaCompliance helps you create e-learning programs to educate your employees on GPDR.
- E-learning modules for compliance
Your employees should understand cybersecurity threats like ransomware, phishing, hacking, and others. The easiest and most effective way to roll out your cyber security compliance policy is through an e-learning program. MetaCompliance helps you create these e-learning programs to ensure your employees understanding on the latest developments in cyber security.
- Compliance Policy Management
Information security policies such as ISO 27001 follow cyber security regulations to safeguard information systems. Regulatory requirements start with creating compliance policies. These policies guide your employees and clients on the relationship your business has with the latest legislation and industry regulations. MetaCompliance helps you create cyber security policies by ensuring that embed the standards of any key legislation.
Pricing information is available by requesting a demo.
- Capterra reviewers like that fact that the software is AD and Citrix compatible. The software features a desktop lockdown feature and has a responsive customer care service.
- According to Capterra reviewers, the administrative module of the software is not updated frequently. The software does not support standard Windows keyboard shortcuts such as CRT+V .
The software lets you report, manage, and track compliance documents. Policy and Procedure Management controls the content lifecycle from creation to storage. The software helps you maintain industry compliance in your organization through policy distribution, management, and tracking. You can store all your documents in a central repository accessible by multiples users. That means subject matter experts and writers can collaborate on policy content creation.
- Workflow automation
The software helps you improve your creation, reporting, revision, and distribution of compliance management processes. The software features policy updates with built-in review dates, expiration dates of policies, and reminders, that help you keep track of your compliance policy management lifecycle. Various project stakeholders including document editors and reviewers can collaborate on a single version of policy document. The software offers pre-defined templates to help you maintain format consistency.
- Version control
You can maintain historical data in a single storage location on the cloud or desktop. The software shows the current version of any compliance document by default. You can also view differences between document versions. Policy & Procedure Management sets expiration and auto-review dates to ensure documents are up-to-date.
- Document control
Automates document approval as per employee roles in your business. You can prioritize work order by letting one group of users see the document and make changes before other groups. Send documents to other groups after you have approved them.
Pricing information is available by requesting a demo.
- Capterra reviewers feel that the software offers awesome, up-to-date management of policies and procedures. The reviewers also state that the software is very helpful in sending automated emails to users working on a compliance document.
- Capterra’s reviewers state that the ungrouping and grouping of reviewers on a compliance document can be complex. They also feel that the software has limited editing features.
The software focuses on reducing compliance risks to save your business from hefty penalties. Compliance 360 enables your team to streamline and manage your risk and compliance program. The software identifies gaps in your current compliance management program and gives you the best way to address them.
- Automated compliance
Implementing even the most clearly defined compliance plans can be challenging without an automated system. Compliance 360 lets you integrate your company’s GRC applications (enterprise risk management, policy management, internal audit management, and more) to meet compliance objectives that are only specific to your business. Through this automated system, you increase transparency, reduce risk, and improve performance.
- Risk Management
Compliance 360 lets you proactively address risk areas across your business with automatic alerts and real-time reporting. This means that you can get rid of manual processes such as filing your compliance policy changes on paper to maintain regulatory changes.
Contact the vendor to learn more about pricing information.
- Capterra reviewers like the customer service as it resolves technical issues immediately. They also state that the software is easy to navigate.
- Capterra reviewers state that the software’s ‘Compliance Workspace/Assessments’ feature is complex and needs to be more user-friendly.
Remember the acts and regulations that I listed above? Do you think your business is compliant with all of them? If you are even slightly doubtful, it’s better to seek the services of a compliance software to keep yourself safe.
Are you already using a compliance software? Does it help you stay compliant with acts and regulations? Let me know in the comments sections below.
If you are looking for more compliance management software, don’t forget to view Capterra’s Top Compliance Software Products.