Companies should have effective compliance management software that helps them comply with industry standards, regulation laws, and company policies. Not only does open-source compliance management software helps companies to comply but also provides open-source software capabilities that help them to use the software and scale them to their operations for more effective results. Here are some of the best open source compliance management software available right now.
12+ Open Source Compliance Management Software
1. ADAudit Plus
2. Momentum QMS
3. Gensuite
4. Black Duck Hub
5. SanerNow
6. Eramba
7. Qualityze
8. Netwrix
9. IAuditor
10. AssetSonar
11. Qualio
12. AuditNet
13. Conga Contracts
What Is Open Source Compliance Management Software?
Open source compliance management software is a specialized GRC software that allows companies to manage and monitor business activities that align with industry standards, regulation laws, and company policies. This compliance management software open-source platform provides various features and tools that help companies to comply such as monitoring tools, financial documentation, audit trailing, reporting, and more.
Benefits
Open source compliance management software helps companies lower the risk of encountering legal risks that might compromise their company’s public reputation and reliability. Through the GRC platforms, companies can abide by various legal factors such as financial, social, government rules to avoid getting lawsuits and penalties which can risk companies financially and ethically. The compliance management software also helps companies make informed decisions based on the data generated by the software. The regulatory compliance software can help centralize all information related to regulation law and streamline them into a report that can help guide company leaders on decision-making in various situations such as possible compliance violations. The compliance software can also increase the reliability of the company, which in turn can increase trust from their customers, clients, partners, and employees. Companies need to establish a high trust rating among their stakeholders to ensure they can sustain themselves and operate in the long run.
Features
Open source compliance management software should contain audit management tools that would help companies to plan and schedule audits related to their company assets that would help them to comply with company policies and regulation laws related to their operations. The compliance management solutions should also include incident management software tools to help companies resolve incidents and errors. The software compliance solution should also contain compliance tracking software tools for companies to monitor their compliance. The software should also include workflow automation software tools to allow companies to automate the compliance management process. The compliance audit software should have risk management software tools to help companies identify risks they might encounter during their compliance process. The governance and risk compliance software should have versioning control tools to help companies track changes and updates made on their compliance documents.
- Audit management tools
- Incident management tools
- Tracking compliance tools
- Workflow automation capabilities
- Risk management tools
- Versioning tools
Top 10 Open Source Compliance Management Software
1. Eramba
Eramba provides an open-source IT GRC tools software that helps companies comply with policies and laws with its governance, risk, and compliance software. Eramba has around 25 employees.
2. Conga Contracts
Conga Contracts provides end-to-end contract management software that allows companies to streamline their contract lifecycle management process. Conga has 1,005 employees and earns annual revenue of $91.5 million.
3. IAuditor
IAuditor’s corrective and preventive action software allows companies to monitor any possible issues in their operations and provides solutions for companies to resolve them effectively. IAuditor is owned and operated by Safety Culture, which the parent company has 456 employees and earns annual revenue of $66.1 million.
4. Black Duck Hub
Black Duck Hub provides software composition analysis software that helps companies comply with its open-source capabilities. Black Duck Software has 171 employees and earns a revenue of $30 million.
5. Gensuite
Gensuite is powered by artificial intelligence software that helps companies prevent dangerous incidents with its pSIF software. Gensuite has 132 employees and earns annual revenue of $19.1 million.
6. ADAudit Plus
ADAudit Plus provides UBA-powered software that helps companies to manage their Windows servers effectively. ADAudit Plus is owned and operated by ManageEngine, which is the parent company, has 127 employees, and earns annual revenue of $18.4 million.
7. SanerNow
SanerNow helps companies reassure themselves with their cyber sanity software. SancerNow is owned and operated by SecPod, which the parent company has 56 employees and earns annual revenue of $11.4 million.
8. Qualityze
Qualityze provides a next-generation EQMS software for various industries that is flexible to use and allows companies to scale the software to their size. Qualityze has 44 employees and earns annual revenue of $6.4 million.
9. Momentum QMS
Momentum QMS allows companies to maintain quality management software in their operations and produce effective results. Momentum Systems has around 25 employees and earns a revenue of around $5 million.
10. AssetSonar
AssetSonar’s IT asset management software is powerful and intuitive thanks to its software compliance software that is easy to use. AssetSonar has around 25 employees and earns a revenue of around $5 million.
FAQ
What should companies consider when using open source compliance management software?
Companies should consider the cost of using the open-source compliance management software as it’s a software-as-a-service platform and would need to be renewed every cycle possible. This ensures that companies get up-to-date software updates that can resolve bugs and errors in a previous version of the software. Companis should also consider the compliance requirements that come with the software as each industry standard and regulation law varies each country and the company users must adjust the operations of their software based on their operating country’s laws and standards.
What should companies know about the current trends in open source compliance management software?
Artificial intelligence software is slowly becoming a standard feature in open source compliance management software as it helps companies to automatically comply with company standards, policies, and regulation laws easily with little human intervention. The compliance management process in the software is now easier for companies to manage audits thanks to robotic process automation capabilities.
How much does open source compliance management software cost?
Pricing for open source compliance management software is usually customized, with each software offering different subscription tiers that offer more features as the prices increase. Pricing for open source compliance management software varies depending on the features available and the intended companies. Small companies may benefit from low-cost open-source compliance management software while large companies may benefit from high-cost open source compliance management software.
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