How to Choose the Right Regulatory Change Management Software - Visualping

Regulatory Change Management Software: The 6 Best Tools

If you work in a highly regulated industry, you know the logistical headaches that come with regulatory change management.

But when it comes to monitoring state or federal legislative changes, or subsequent updates from the relevant regulatory body, the old adage “work smarter, not harder” rings true. That’s where regulatory change management software come in handy.

At the most basic level, these tools monitor key websites for regulatory updates, and alert you whenever there’s a change. Some, like Visualping, are remarkably easy to get started with, and allow you to customize your monitoring to the exact regulatory web pages and information you care about.

There are plenty of tools out there, each with its own unique digital infrastructure and benefits. But, with the below software tools, working smarter, not harder, is easier than ever.

Here are six of the best regulatory change management software solutions.

1. Visualping

Easy-to-Use

Visualping is used by 85% of Fortune 500 companies.

It offers powerful customization features, but you don’t need to be a tech whiz to use it. All you need to do is select the sites you need to monitor, decide how often you want the tool to check them, and provide an email address to receive alerts.

More Intelligence, Less Noise

With Visualping, you can track any web page you want on the internet for the legal and regulatory updates you’re after – like updates to state and federal bills and debate, regulatory agency announcements and news articles. You can monitor an entire web page for changes, or select parts of the page you care about.

You set the frequency at which Visualping will check the web page. Get real-time change alerts, or monitor a page every 3 hours, 6 hours, daily – it’s really up to you.

With the keyword alerts feature, you can filter through the noise and only get notified when a certain word or phrase you’re interested in gets added to the page.

Quickly understand page changes

Regulatory updates are easy to understand with Visualping. Simply open your email alert to see what’s changed with before-and-after text snippets and screenshots. In your user dashboard, you can go back and review changes, to analyze updates over time.

You can even generate historical change reports across monitored pages, to view many updates in a glance.

Features

• Real-time change alerts for urgent regulatory updates
• Option to monitor sites for changes to text, visuals, or both
• Paid business plans include up to three hours of setup and training
• Can select unlimited pages to monitor
• Option to generate regulatory change and compliance reports

Pricing

One of Visualping’s major advantages is its affordability. Though it may not be as feature-rich or focused on change management as some other tools, it’s an ideal regulatory change management solution for small and midsize businesses.

Visualping for Business offers a free option that lets you monitor up to 100 pages, checking every 15 minutes.

For $600 per year or $50 per month, your business can monitor up to 200 pages every five minutes. You also can purchase monitoring for additional pages or upgrade to a custom plan.

2. AuditBoard

If you’re looking for a comprehensive solution for monitoring compliance, risk, ESG (environmental, social, and global), and audit teams, AuditBoard is the integrated solution you need.

This platform connects your data to give you a comprehensive picture of your company’s risk. That way, your teams can focus on risk management rather than the tedium of regulatory review.

When using this platform, you can select which of the AuditBoard applications you need for regulatory change management. One popular AuditBoard app is RiskOversight, a risk management software that offers visual representations of data and helps you develop action plans as needed.

Features

• Stores a core of company data on policies, risks, issues, controls, and frameworks
• Manages cross-framework compliance for improved risk management
• Helps strategize and streamline your internal audit process
• Offers visual representations of all data collected

Pricing

Auditboard is a highly customized monitoring solution that can integrate into your company’s existing cloud structure.

Because it’s so modular and customizable, it doesn’t offer standard memberships, so you’ll need to contact the company for a pricing quote tailored to your particular needs.

3. Ncontracts

Ncontracts is an integrated risk lifecycle solution designed specifically for businesses in the financial sector. It’s somewhat unusual in that it offers a mixture of software and human support — you get unlimited training and support from expert representatives who will answer your call 24-7.

Ncontracts helps you stay audit-ready while offering you a clear picture of potential risk.

Features

• Assesses and monitors enterprise risk, vendor risk, and business continuity
• Monitors relevant regulations to guide regulatory change management
• Makes internal auditing a streamlined process and keeps you ready for external audits
• Monitors your company’s cybersecurity and helps you manage security risks

Pricing

Ncontracts is another fully customizable solution, so you’ll need to contact a representative for a pricing estimate.

4. LogicGate Risk Cloud

LogicGate Risk Cloud is a governance, risk, and compliance (GRC) solution. In other words, it keeps your business secure and on track (in terms of regulatory compliance, finances, and the like). As with many other GRC solutions, it comprises a suite of applications that help you manage risk and communicate across departments.

It can be difficult to select the applications you need, integrate them, and get started, especially if you aren’t technologically inclined. LogicGate can help you get set up to hit the ground running.

Features

• Offers a no-code solution
• Can be integrated with hundreds of other platforms like Slack, Jira, and DocuSign
• Includes a graph-powered risk calculator to help your team better visualize risks
• Offers process automation and report generation to ensure regulatory compliance

Pricing

LogicGate Risk Cloud uses an a la carte pricing model, meaning you only pay for specific applications and the licenses to run them. If you aren’t sure which applications your business needs, LogicGate’s experts can help you choose.

5. 6clicks

6clicks is primarily focused on risk and compliance. It’s an easily scalable solution, so it’s a good choice if you anticipate significant growth in your business.

One great benefit is the company’s content library, which lets you instantly import relevant standards, laws, and regulations. You can also download assessment templates and other regulatory change management tools to help you assess and manage risk.

Features

• Breaks down data so it’s easy for anyone to understand
• Includes advanced regulatory intelligence functions like compliance mappings to identify and remedy areas of potential risk
• Offers a simple process for distributing risk libraries, templates, and other important items to your teams
• Includes resources for vendor risk assessment and remediation

Pricing

Your entire team can use 6clicks with a single subscription fee. The company offers three different subscription levels: Starter, Growth, and Enterprise. However, you’ll need to request a quote and provide some information about your business to see specific pricing.

6. Protiviti

Protiviti is a business consulting firm that also offers comprehensive risk-management software.

The group’s regulatory change management solution really stands out when it comes to helping your company make informed decisions about opportunity and risk. It uses a proprietary methodology to discover risk information and compile it into reports for boards of directors and executives.

Because its solutions are highly customizable and are usually combined with business consulting, Protiviti is ideal for larger businesses with complex and ever-changing risk management needs.

Features

• Uses both company data and analytics to automate certain compliance procedures and help your company take action in the event of a violation
• Offers solutions to help you fight financial crime within your organization
• Offers both software and consulting services to help you manage regulatory changes
• Identifies key risk and performance indicators to enable accurate monitoring

Pricing

Protiviti customizes regulatory change management solutions for your business, so there’s no one-size-fits-all pricing solution. After discussing your company and your objectives, a consultant will be able to offer you a quote.

Find Your Regulatory Change Management System Today

As you can see, the world of regulatory change management tools is a wide one. Only you can decide which features are critically important for your business and which pricing plans fit your budget.

If you’re looking to get started quickly, Visualping is here to help.

Visualping is a simple but powerful tool that lets you monitor any number of web pages for changes. It’s also one of the most affordable regulatory change management software options on the market today.

You can try it for free or upgrade to Visualping for Business for a streamlined monitoring experience. Reach out to our team with any questions or to get started today!