Compliance Management Software

Start by evaluating the complexity of your regulatory environment - consider the number of jurisdictions, the pace of regulatory change, and the internal teams involved. The software should offer real-time regulatory updates, intuitive dashboards, and configurable workflows that reflect how your teams operate. Integration with your policy, compliance, and risk systems is key to ensuring changes are not only tracked but also acted upon. Look for features like automated impact assessments, task assignment, and document linking to reduce manual effort and improve coordination. Strong reporting capabilities and an easy-to-use interface will also make adoption smoother and oversight more effective over time.

MetricStream Compliance Management enables compliance management professionals to stay on top of the complex web of regulatory obligations that govern their business and implement processes and policies to sustain compliance. It links together regulations, processes, controls, risks, policies, and cases in a central point of reference, supporting workflows, self-assessments, surveys, and issue remediation. Intuitive dashboards and charts provide real-time insights into compliance processes, enabling leaders to empower business lines to demonstrate a culture of trust and integrity.

MetricStream Compliance Management includes a Regulatory Intelligence capability that captures, stores, and monitors regulations through integration with reliable and authoritative regulatory content sources. Regulatory updates are automatically mapped to risks, controls, and policies, and teams are kept informed through automated notifications and alerts - ensuring organizations can respond to regulatory changes promptly and accurately.

The Compliance Risk Assessment feature allows organizations to prioritize compliance programs and investments based on their organizational risk profile. Control testing can be scoped based on risk ratings and scores, providing a more streamlined and simplified approach that makes it easier for compliance teams to focus their efforts where they matter most.

The solution offers Enhanced Control Testing capabilities that allow organizations to design control tests or self-assessments in the form of surveys or questionnaires. Samples can be assigned to control owners, testers, or assessors, and controls can be tested independently to speed up completion, reduce errors, and boost productivity. Control tests can be uploaded in bulk via Excel or performed individually, with results recorded, non-compliance flagged, and effectiveness certified. A personalized, report-based interface helps users quickly access assigned tasks and instantly scan control results.

MetricStream Compliance Management uses AI/ML within its Intelligent Issue and Action Management feature to automatically identify duplicate issues and recommend issue classification and action plans. The solution also automates workflows, notifications, and reporting to accelerate the remediation process, while enabling real-time tracking of issue resolution from identification through to closure.

The solution includes a Compliance Certifications feature that allows business unit heads to provide certifications and sub-certifications — for example, confirming that their departments have addressed concerns such as weak controls. This creates clear lines of accountability across the organization and helps instill a culture of compliance ownership at every level.

The solution provides comprehensive reporting through multiple report types. Graphical dashboards with drill-down capabilities allow teams to monitor key control attributes, self-assessment and evaluation plans, control design status, process ownership, and test results. Compliance Binder Reports deliver details of the testing and monitoring program, including control effectiveness and evidence attached as proof of testing. Regulatory Compliance Insights reports document how the organization is complying with relevant regulations and help identify potential problems with compliance mandates by bringing together disparate data sources.

Through the Compliance Environment and Process Design feature, organizations can create a structured and logical internal control hierarchy - encompassing processes, assets, risks, controls, and control activities - along with appropriate linkages between these data elements. Associated policies and procedures, reporting requirements, and filing templates and schedules for various regulations can also be maintained within the same environment.

According to customer responses and the GRC Journey Business Value Calculator, organizations using MetricStream Compliance Management have reported a 90% reduction in the time taken to manage compliance activities, 50% fewer compliance issues, and 300% more coverage on compliance and control monitoring.

MetricStream Compliance Management is designed to help organizations avoid the risk of compliance violations, penalties, and reputational damage by providing timely insights on compliance readiness at each organizational level. By automating control assessments and testing, enabling proactive identification of compliance risks, and delivering a unified, real-time view of the organization's compliance status, the solution supports more informed and faster decision-making across the compliance function.