Sat. May 15th, 2021
    Compliance Management

    Top 5 Legal Compliance Management System for Small SMBs in 2020

    Compliance can be defined as a standard benchmark or regulatory prerequisites that a company has to follow to become successful in any given industry. Mainly, compliances are legal, economical, human resource, ecological, and social. The complexity involved in adhering to or ensuring compliance to all these requirements to ensure a Small and Midsize Business (SMBs) smooth functioning makes it prone to human error.

    The error that could have been avoided either by more staff or by automation puts the company’s reputation at stake and employees at risk. To cut costs and limit the repetitive nature of gathering data and processing it, it is best recommended to establish a fool proof legal compliance management system.

    Excellent regulatory compliance management software is an asset to any organization. 

    Here are a few key features to look into while deploying automation of any compliance management system:

    • Easy user interface
    • Awesome analytics¬†¬†
    • Controlling documentations
    • Fraudulent activities management
    • Management of various processes
    • Unforeseen incidents management
    • Capacity development and training
    • A centralized system connecting the organization
    • Management of workflow and tasks
    • Management of risk factor
    • Security of data
    • Good offline performance
    • Open to the integration with other software(s)

    Here’s a list of top 5 Compliance Management Systems that extends their support in automating your compliance management needs by showcasing the right set of prowess:  

    ProcessGene GRC: The Best Compliance Management System

    They are pioneers in providing solutions for Governance, Risk, and Compliance needs for multi-subsidiary organizations. The centralized system automates the workflow, hence reducing human labor. The software offers a possibility of integrating the business processes in different locations, simultaneously complying with local regulations. The wide set of software tools makes it user-friendly and capable of quantitative risk management. The software is highly transparent to everybody involved in the smooth flow of ensuring the compliance protocol. ProcesessGene GRC is a market leader and one of the best software you can get for your SMBs. 

    Wdesk:

     This Compliance Management System relies on cloud-based computing for efficient, transparent, and faster turnaround. The compliance software manages teams of all sizes assigning and managing the work structure. In addition to compliance management, the software also ensures team management and collaboration among team members and stakeholders easier than before. This unified approach enhances the efficiency of the businesses making the software a multipurpose one.

    Deltek Costpoint:

    It is one of the best Compliance Management System available in the market. The unique features that support this compliance management include billing and revenue recognition that manages an organization’s cash flow. The software controls and configures the process of the workflow by providing simplified HR solutions. The software improves the overall efficiency of manufacturers, contractors, etc. by enhancing their visibility and efficiency.

    MyEasyISO:

    Based on the unique features of cloud-based computing, this Compliance Management software solution is designed to deploy ISO 9001, 14001, OHSAS 18001, and ISO 22000 standards. This is very simple to use software that is tailormade to suit the needs of an SMB. It is an employee-friendly solution that is a must-have for businesses that have to implement ISO management systems such as Quality Management Systems (QMS), Environmental Management Systems (EMS), etc. My easy ISO can become the gatekeeper for all other software, and employees can dig out information from here for all their ISO related needs. Records and reports are up to date and accurate in the system.

    ManageEngine ADAudit Plus: 

    This Compliance Management System tracks changes in the Windows Active Directory while adhering to the IT regulatory acts. The software scrutinizes the active directory and provides all the relevant information related to any changes, i.e, who, what, when, and where. With an easy-to-use UI, the software has uses anywhere from the domain and provides over 100 pre-configured reports covering a wide variety of audit requirements in a business.

    By integrating a variety of business processes in an organization, not only does the business ensure transparency, but it also becomes less risky. The central repository acts as the conference room for accessing any business-related information. Controlled dissemination of information by the stakeholders to the employees ensures the privacy of the business.

    Management decisions related to process restructuring and audits can be mapped and enhanced using a well-rounded CMS software. It drives the final strategy further and provides statistics to modify further and enhance the course of action. With the presence of an efficient CMS system in an SMB, data security is one significant benefit. Access to data is restricted based on system authentication.

    Though it is vital to have a CMS for your SMB. It is even more important to understand that business nature plays a large role in determining the software requirements. Proind helps organizations to scrutinize their compliance requirements and offer tailormade solutions accordingly. Proind offers a pan-India checklist of government compliance; while tracking any new developments that may impact the business at present in the future.