Regulatory compliance software not all legal officers know about but should
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With laws and regulations changing faster than ever, keeping up with compliance is becoming increasingly challenging. As a legal officer or employee of a highly regulated industry, you are probably taking advantage of regulatory compliance software to automate the process that would typically require constant oversight.
With the help of software such as Qualtrax, Power DMS, or MetricStream, compliance officers like you successfully manage and monitor compliance. These technologies are also keeping all teams connected, improving internal communications, and implementing effective compliance programs.
But there are other pieces of software that not all legal officers know about, and many compliance managers are using to complement their GRC programs. These services save them time and give them the ability to monitor changes in regulation that would otherwise be impossible.
Legal professionals working in industries where laws are constantly changing are adding these pieces of software to their toolkit to assess and mitigate risks:
1. Visualping
Visualping transforms how corporate compliance officers stay on top of the ever-evolving regulatory landscape. This tool is a powerful website change detection and monitoring tool used to track changes in law, regulations, and internal policies as soon as they occur. Visualping gives you the real-time updates you need to get ahead and make the necessary compliance decisions.
You can customize which pages to monitor and how often the page will be crawled. This tool scans visual, text, or HTML page changes and allows you to target specific keywords and filter the monitoring options.
What makes this tool different from others is that it allows you to keep evidence of the changes. When a change happens in a crawling page, a notification with before and after snapshots are sent via email, SMS, or Slack for team notifications. The text added is highlighted in green, and the removed text is marked in red. And you can manage your tracking preferences anytime from your dashboard.
Monitoring regulatory changes with Visualping is effortless with different business plans to choose the option that best fits your business needs. Professional accounts also have priority access to advanced features for integrated teams.
2. Feedly
With Feedly you can track insights across the web using an AI research assistant. This software helps you find and organize the sources of information you are interested in and share the insights with your teams.
What is interesting about this tool is that as you curate a board of specific topics or trends over time, the system understands what you are interested in and prioritizes future content that you´ll be likely to save to each board.
This tool saves legal professionals like you a tremendous amount of time, filtering out the noise and focusing on what really matters to comply with the law.
3. GPSL
GPSL is a robust platform for complex information management. It enables legal teams to organize and structure critical information and get it to the right people, at the right time, in the most suitable format.
This tool provides an easy solution for compliance officers to supply and access XML-based legislation in multiple consumable formats. The web-based review and drafting tool permits collaborations across departments and organizations to work directly on the legislation without the problems of versioning, losing comments, or file transfers.
Automating the entire compliance process has never been so necessary and simple as nowadays. Using artificial intelligence (AI) features and technology have massively simplified compliance procedures.
So if you are still concerned because the compliance software your team is using does not cover all your needs or lacks some features, undoubtedly, one or more of the complementary tools presented above will be a great addition to your compliance toolkit.
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