As customer bases increase and organizations expand into new markets, the need to keep track of multiple policies and governance strategies only increases. Policy management software can be an invaluable tool for organizations that need assistance with the creation, distribution, and monitoring of internal policies and regulatory compliance requirements. An effective policy management software solution can not only reduce the risk of non-compliance, but also help to foster a culture where guidelines and standards are consistently met.
Policy management software is designed to streamline the entire policy lifecycle, from drafting and approval to distribution, acknowledgment, and scheduled reviews. One of a policy management solution’s key features is a centralized repository which offers stakeholders easy access to all policies, ensuring that everyone is aligned and informed. Additionally, automation features allow for regular updates, while training integrations and acknowledgment tracking minimize human error and administrative overheads.
Additional features include integration with other enterprise systems, robust reporting tools, and analytics to gauge policy effectiveness. Given the sensitive nature of policy documents, security and audit trails are another key component of policy management solutions. They ensure that data is protected, and changes are meticulously logged.
Policy management software solutions vary from comprehensive suites suitable for large corporations to niche tools optimized for specific sectors like healthcare, finance, or education. To help identify the best solution for your organization’s needs, we’ve assembled a list of the top policy management software. In this guide, we will explore the key features and strengths of each platform.
Risk Cloud is a comprehensive platform designed to streamline and automate your policy management processes. It facilitates the drafting, review, and approval of policies, all while enabling efficient tracking of employee confirmation. The platform can adapt to changes, allowing you to pinpoint and rectify compliance gaps and manage policy violations throughout the year. The platform also automates policy acknowledgment procedures. This helps to confirm that the correct policies are shared with the right employees. Risk Cloud integrates with popular document storage platforms including Google Drive and Microsoft 365, making it an efficient solution.
The platform grants a good deal of visibility into control requirements. This means that compliance gaps are easier to identify and that policies can be revised swiftly and effectively. Risk Cloud allows users to quickly gauge compliance for a particular policy through pre-built reports and dashboards. These features, combined with a central hub for managing policy, procedure, and standards, make Risk Cloud an effective and efficient solution for evolving policy and risk management programs.
LogicManager have developed a comprehensive Compliance Policy Management software that aids organizations in centralizing and streamlining their policy handling processes. This solution allows companies to consolidate policies into a customizable hierarchy, thus facilitating easy access and updates. The platform will link policies with shared elements as well as automating notifications and tasks for a more efficient workflow. Through this platform, companies can evaluate policy efficacy and allocate resources based on risk assessments, all while generating detailed, insightful reports.
LogicManager automates the workflow associated with the creation, review, and implementation of each policy, saving time and effort. By replacing traditional spreadsheets and Word documents, LogicManager eliminates the hassle of tracking review dates and updates manually, allowing for a more organized approach to policy management. It also helps to create relationships between policies and relevant individuals, processes, assets, and applications, thus facilitating seamless operations. The platform is able to link policies with associated risks and mitigation activities (through risk-control matrices); this enables companies to evaluate the effectiveness of their policies, making resource allocation more efficient.
PolicyHub is an effective software solution designed to streamline policy and procedure management, as well as aiding in building a robust and defensible compliance program. The platform provides a straightforward and intuitive solution that allows organizations to create, approve, and communicate policies effectively. This is complemented by intelligent distribution and knowledge assessments, all of which work to enhance operational efficiency and reduce potential risks, including reputational damage. The platform also provides solutions for managing vendor risks and embedding policy and governance best practices in operational processes.
PolicyHub offers multiple tools that facilitate a comprehensive approach to compliance and risk management. Other features include a Compliance Manager which assists in identifying and understanding various regulatory obligations, and a Policy Hub, which aids in the creation, review, and dissemination of new policies. Administrators can expect a simple configuration process, with the option to further develop and expand the system’s utilization without vendor support, fostering ease of ongoing development. The platform is available as a SaaS or on-premise solution.
MyPolicies is an effective and user-friendly platform, designed to meet the demands of modern policy management. It is a comprehensive solution that helps to craft new policies, as well as assisting in the management of pre-existing ones. The platform hosts over 250 best-practice templates to help you build and update policies. MyPolicies focuses on making the user experience as straightforward as possible. The platform can guide you at every step of the policy lifecycle, ensuring efficiency and effectiveness in policy communication and management.
MyPolicies provides a central repository for all your policy documents facilitating easy setup and implementation. Other features include automated assignment distribution, advanced document filtering, full-text search, and the ability to track incidences and exemptions. To further make the platform easy to use, it allows for seamless integration with existing login credentials, making adoption smooth and hassle-free.
The NAVEX One platform is designed to streamline risk and compliance management. It allows organizations to manage multiple documents throughout the compliance lifecycle, as well as monitoring, revising, and renewing policies and Standard Operating Procedures (SOPs). NAVEX One integrates seamlessly with Microsoft 365, thus enhancing the document creation and editing process within the program. The platform centralizes the location that all recent policies and procedures are accessed. This auditable database of records comes with automated policy alignment and stakeholder attestation.
NAVEX One supports remote and on-the-move employees through its mobile features. The software also tracks who has viewed a particular document and logs every policy alteration reducing potential exposures to risk. The software optimizes workflows, ensuring that the organization can monitor tasks and approved policies. The platform serves as a centralized hub for tracking attestations and questionnaire responses. This assists in generating audit-ready reports, ultimately enhancing the organization’s efficacy and integrity.
PowerDMS offers a secure, cloud-based policy management software, that is used to streamline and centralize policy and procedure handling within your organization. As an all-in-one solution, PowerDMS improves the systematic development, review, approval, and distribution of policies, ensuring the seamless management of documents throughout their lifecycle. The platform empowers administrators through the ability to manage documents and folders, while users benefit from improved efficiency through the mobile app.
PowerDMS is an effective platform that enhances policy access by providing round-the-clock access and fostering a culture of compliance within the organization. It adheres to WCAG AA and 508c compliance standards, making it accessible to all your users. The platform’s user-friendly interface features intuitive keyword search capabilities, user/group permissions, and integrates seamlessly with popular editing tools like Microsoft Word, Excel, and PowerPoint, in addition to OneDrive and Google Drive. These integrations and functionalities facilitate easy policy indexing whilst ensuring controlled and secure access to critical information.
Xoralia is a policy management platform that integrates effectively with SharePoint, Microsoft Teams, and Microsoft Office 365. Xoralia automates and streamlines policy and procedure lifecycles, minimizing risk and making compliance adherence more efficient. Administration time can be significantly reduced through automated functions that assist with document management, revisions, and version control. Employees can be notified and reminded when policies are created or updated.
The platform acts as a centralised hub where all policy documents can be accessed and managed. Xoralia has a user-friendly front-end interface that is accessible to individuals with various levels of technical expertise. Xoralia lets you assign policies to individuals or groups based on criteria such as division, location, or role, ensuring that the right policies reach the appropriate people. These features, alongside robust analytics tools, make auditing easier, thereby mitigating legal and compliance risks. Xoralia lets organizations create a more organized, compliant, and efficient policy management system.
Policy management software aims to add some order to sprawling and complex company or regulatory compliance policies. This is to ensure that standards (as well as compliance requirements) are being met consistently and that there is a way of monitoring this. Policies can apply to a broad range of areas including business standards, turnaround times, privacy, and many other areas. The software manages the entire policy lifecycle including initial creation, reviews, and rollout.
Failure to properly manage and maintain policies can lead to a range of issues. The consequences of these can range from disrupted productivity to security risks and legal disputes. This is particularly true for organizations operating in highly regulated sectors such as finance and healthcare.
Policy management software can be deployed as a standalone platform, or as part of a wider governance, risk, and compliance (GRC) strategy and toolkit. Depending on the policy area you want to manage, the implementation of your policy management software may differ. However, most policy management software solutions enable you to implement a robust policy management lifecycle. This usually consists of the following stages:
The world of policies, auditing, and compliance is not an area that you want to get wrong. Failure to implement the correct policies, adhere to them, or effectively provide evidence that you are compliant can lead to a host of issues. Regulatory fines, penalties, and legal action are all very real consequences of policy non-compliance.
An experienced writer with a background in journalism and editorial, Lottie has written for a range of publications and companies covering everything from cybersecurity, real estate, and fashion to environmentalism and other social causes. She holds an M.Sc. in Political Science from the University of Amsterdam/Universiteit van Amsterdam.
Laura Iannini is an Information Security Engineer. She holds a Bachelor’s degree in Cybersecurity from the University of West Florida. Laura has experience with a variety of cybersecurity platforms and leads technical reviews of leading solutions. She conducts thorough product tests to ensure that Expert Insights’ reviews are definitive and insightful.