20 Best Financial Compliance Software Reviewed In 2024
Best Financial Compliance Software Shortlist
Here’s my pick of the 10 best software from the 20 tools reviewed:
Our one-on-one guidance will help you find the perfect fit.
Financial compliance software is a valuable asset for any company. With the right software, teams can ensure accurate financial reporting and maintain regulatory compliance. But finding the right financial compliance software can be a challenge, especially with so many options available.
Using my experience with finance and accounting software, I tested and compared several of the top financial compliance software available. From there, I compiled my results into in-depth reviews to help you find the best software for your unique needs.
Why Trust Our Software Reviews
We’ve been testing and reviewing finance and accounting software since 2023. As CFOs ourselves, we know how critical and difficult it is to make the right decision when selecting software.
Need expert help selecting the right tool?
With one-on-one help, we guide you to your top software options. Narrow down your software search & make a confident choice.
We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different finance and accounting use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & our software review methodology.
Best Financial Compliance Software Summary
| Tools | Price | |
|---|---|---|
| Workiva | Available upon request | Website |
| MetricStream | Pricing upon request | Website |
| Libryo | Pricing upon request | Website |
| SAI360 | Pricing upon request | Website |
| Oracle EPM | From $65/user/month | Website |
| ComplyAdvantage | Pricing upon request | Website |
| Intertek Inform | Pricing upon request | Website |
| Compliance.ai | Pricing upon request | Website |
| Modulo | Pricing upon request | Website |
| SAP Concur | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow To Choose Financial Compliance Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Will this software grow with your business? |
| Integrations | Does it integrate with your current systems and tools? |
| Customizability | Can you tailor the software to meet your specific needs? |
| Ease of Use | Is the software intuitive and easy for your team to use? |
| Budget | Does the software fit within your financial constraints? |
| Security Safeguards | Does the software offer advanced security features? |
| Compliance Updates | Will the software keep you informed about regulatory changes? |
| Support | Does the provider provide reliable customer support? |
Best Financial Compliance Software Reviews
Below are my detailed summaries of the best financial compliance software that made it onto my shortlist. My reviews offer a detailed look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Workiva is a cloud-based finance, accounting, risk, and compliance platform for professionals. It helps simplify complex reporting and compliance processes by connecting data, automating workflows, and ensuring data consistency.
Why I picked Workiva: Workiva offers a unified platform that connects various reporting and compliance tasks, making it easier for your team to manage data and automate reporting. Features include real-time collaboration, which allows multiple users to work on documents simultaneously, and audit trail capabilities, ensuring data integrity. Additionally, its intuitive interface reduces the learning curve, helping your team get up to speed faster. With Workiva, you can ensure accuracy and transparency in your financial and compliance reports.
Standout features & integrations:
Features include real-time collaboration, robust audit trails, and automated workflow management. You can also take advantage of built-in templates for various reporting needs, and the platform's intuitive drag-and-drop interface makes it easy to organize and manage data.
Integrations include Microsoft Office 365, Google Workspace, SAP, Oracle, Salesforce, Workday, BlackLine, ServiceNow, and Docusign.
Pros and cons
Pros:
- Customizable compliance dashboards
- Data linking capabilities
- Real-time collaboration
Cons:
- Delayed regulatory updates
- Challenges with global compliance
MetricStream provides Governance, Risk Management, and Compliance (GRC) software solutions for various industries to automate and manage risk and compliance processes. Its main users are organizations aiming to enhance risk management, compliance, and audit operations.
Why I picked MetricStream: The software features integrated risk management, compliance management, and internal audit capabilities. Users can automate workflows, generate real-time risk insights, and ensure regulatory compliance across their operations. With tools for policy management and incident reporting, your team can handle GRC tasks more efficiently and effectively.
Standout features & integrations:
Features include automated risk assessments, real-time compliance monitoring, and centralized audit management. You can also manage policies and report incidents from a single platform. These features help you streamline your risk and compliance processes.
Integrations include ServiceNow, SAP, Oracle, Microsoft SharePoint, Azure Active Directory, Salesforce, Workday, Okta, Slack, and Jira.
Pros and cons
Pros:
- Advanced analytics and reporting
- Customizable risk frameworks
- Integrated GRC platform
Cons:
- Limited compliance support for new markets
- Complex regulatory reporting
Libryo is a compliance management software designed for businesses to navigate complex regulations. It provides legal, environmental, health, and safety (EHS) professionals with a clear understanding of applicable laws.
Why I picked Libryo: This software offers tailored legal registers that filter relevant laws based on your specific operational needs. It updates users on legal changes in real time, ensuring compliance at all times. You’ll benefit from its intuitive interface that simplifies regulatory complexity. Moreover, it supports multi-jurisdictional operations by consolidating various legal requirements into one accessible platform.
Standout features & integrations:
Features include real-time updates on legal requirements specific to your location, helping your team stay compliant effortlessly. The platform organizes and filters legal obligations based on relevance, making it easy to find what you need. It also provides clear, actionable steps to ensure compliance with local laws.
Integrations include Microsoft Teams, SharePoint, OneDrive, Slack, Google Drive, Dropbox, Docusign, SAP, and Salesforce.
Pros and cons
Pros:
- Automated compliance tracking
- Customizable compliance filters
- Location-specific compliance updates
Cons:
- Multi-jurisdictional setup challenges
- Limited integration with financial systems
SAI360 is a comprehensive software solution for organizations to manage ethics, governance, risk, and compliance (GRC). It caters to compliance officers, risk managers, and other professionals responsible for ensuring organizational adherence to regulatory standards.
Why I picked SAI360: SAI360 integrates risk management and compliance learning resources in one platform. It offers tailored modules and in-depth analytics to help you navigate complex regulatory environments. The software supports real-time incident management and provides a centralized view of risk and compliance activities. With SAI360, your team can efficiently manage risks and ensure compliance through its intuitive interface and customizable features.
Standout features & integrations:
Features include incident management, real-time analytics, and tailored compliance modules. It offers a centralized risk management dashboard and comprehensive reporting tools. The software is designed to adapt to your needs, offering flexibility and detailed insights.
Integrations include SAP, Oracle, Microsoft Dynamics, Salesforce, Workday, SharePoint, Docusign, ServiceNow, and Tableau.
Pros and cons
Pros:
- Global regulatory coverage
- Highly customizable workflows
- Comprehensive compliance management
Cons:
- Delayed regulatory adaptation
- Time-consuming financial audits
Oracle EPM is a comprehensive enterprise performance management solution that helps businesses plan, budget, forecast, and report on performance and ensure financial compliance. It supports finance teams with accurate data and aligns strategies with regulatory requirements.
Why I picked Oracle EPM: It offers multidimensional analysis, planning, and reporting features that help you drive better business decisions. You can ensure data accuracy and compliance with its integrated financial consolidation and close capabilities. The platform's planning modules support various scenarios, enabling you to anticipate changes and adjust plans accordingly. Additionally, it provides solid reporting tools that deliver real-time insights into your organization's performance.
Standout features & integrations:
Features include multidimensional analysis, integrated financial consolidation, and real-time reporting tools. You can use its planning modules to manage different business scenarios and adjust your strategies. The platform also supports comprehensive budgeting and forecasting to help you stay on track with your financial goals.
Integrations include Oracle ERP, Oracle HCM Cloud, Oracle SCM Cloud, NetSuite, SAP, Microsoft Dynamics, Workday, Salesforce, Anaplan, and Hyperion.
Pros and cons
Pros:
- Scenario modeling for compliance
- Detailed regulatory reporting
- Integrated financial planning
Cons:
- Limited flexibility in reporting
- Delayed local regulations updates
ComplyAdvantage is a software that helps detect and manage risks associated with anti-money laundering (AML) and fraud. Its main user base includes banks, insurance companies, and cryptocurrency industries, focusing on financial crime risk detection and compliance management.
Why I picked ComplyAdvantage: You get access to real-time financial crime insights and risk data that help manage compliance obligations effectively. The platform offers transaction monitoring, adverse information and media screening, and sanctions and watchlist screening features, ensuring your business can identify potential risks and mitigate them swiftly. Additionally, it uses machine learning and natural language processing to stay ahead of evolving financial crimes.
Standout features & integrations:
Features include transaction monitoring, adverse information and media screening, and sanctions and watchlist screening. You can also leverage machine learning for real-time crime detection. The software provides detailed risk profiles to help you manage compliance efficiently.
Integrations include Salesforce, Microsoft Dynamics, Oracle, SAP, Actimize, Fenergo, Temenos, Finastra, Mambu, and Guidewire.
Pros and cons
Pros:
- Detailed risk profiles
- Updated sanction screening
- Real-time crime detection
Cons:
- Complex integration process
- Limited customization options
Intertek Inform is a library of global standards from numerous publishers. It serves businesses that need to comply with international standards and regulations.
Why I picked Intertek Inform: The platform helps your team access over 1.6 million standards from more than 360 publishers. With features like document management and virtual collaboration, it simplifies staying compliant with industry regulations. It also enables control of costs and improves efficiency by centralizing standards management. It is designed to make looking, purchasing, and managing the standards your organization needs easier.
Standout features & integrations:
Features include a comprehensive library of standards, document management, and virtual collaboration tools. Your team can easily search and purchase standards, ensuring you're always up-to-date. The centralized platform helps you control costs and improve operational efficiency.
Integrations include SAP, Microsoft Dynamics, Oracle, Salesforce, Workday, ServiceNow, JD Edwards, NetSuite, and IBM.
Pros and cons
Pros:
- Comprehensive document management
- Customizable compliance alerts
- Extensive regulatory database
Cons:
- No real-time regulation updates
- Limited integrations
Compliance.ai offers regulatory compliance and risk management solutions for financial institutions and compliance professionals. It automates the monitoring of regulatory changes and simplifies the compliance management process.
Why I picked Compliance.ai: Compliance.ai provides a streamlined way to stay updated with regulatory changes, thanks to its central command center. You can benefit from its purpose-built machine learning models that automatically map regulatory updates to your policies. The platform also includes tools for managing enforcement actions, helping you stay ahead of compliance risks. With its dashboard, you get an at-a-glance view of recent documents and upcoming deadlines.
Standout features & integrations:
Features include automated regulatory change monitoring, a centralized command center for compliance management, and enforcement action tracking. You can create custom alerts based on specific criteria to keep track of regulatory content and news. The dashboard provides a quick overview of relevant documents and important dates.
Integrations include Salesforce, Microsoft Teams, SharePoint, Slack, Confluence, Jira, and Google Workspace.
Pros and cons
Pros:
- Advanced enforcement tracking
- Extensive regulatory database
- Automated regulatory monitoring
Cons:
- Complex setup process
- Limited regulations customization
Modulo is a financial compliance software for businesses to manage risk, privacy, and cybersecurity. Its main user base includes risk managers, compliance officers, and IT security professionals.
Why I picked Modulo: Modulo provides specialized solutions for risk assessments and compliance management. Key features include customizable questionnaires, vulnerability assessment tools, and detailed reporting capabilities. The software also supports various compliance frameworks, making it versatile for different industry requirements. Your team can benefit from its workflow automation and extensive knowledge base that simplifies compliance processes.
Standout features & integrations:
Features include customizable questionnaires, vulnerability assessments, and detailed reporting. You can manage risk assessments across different assets and automate compliance workflows. The software also supports multiple compliance frameworks.
Integrations include SAP, Oracle, Microsoft Azure, AWS, ServiceNow, Jira, Salesforce, Workday, and IBM QRadar.
Pros and cons
Pros:
- Customizable compliance frameworks
- Automated compliance processes
- Integrated compliance management
Cons:
- Data syncing delays
- Complex configuration
SAP Concur is a solution for integrated travel, expense, and invoice management to help businesses manage their spending and financial compliance. It offers organizations visibility and control over expense processes and adherence to financial regulations.
Why I picked SAP Concur: SAP Concur unifies travel booking and expense tracking, providing a smooth user experience and accurate data. It offers automated invoice management, reducing manual tasks and errors. You can monitor compliance and policy adherence in real-time, ensuring your team stays within budget. Its mobile app allows you to manage expenses, capture receipts, and approve reports on the go.
Standout features & integrations:
Features include automated expense reporting, integrated travel booking, and real-time spend visibility. You can also benefit from its audit and compliance tools, which help ensure policy adherence. The mobile app facilitates expense management from anywhere.
Integrations include SAP ERP, QuickBooks, NetSuite, Salesforce, Workday, Microsoft Dynamics, Slack, Google Workspace, and Amazon Business.
Pros and cons
Pros:
- Real-time expense visibility
- Global compliance checks
- Automated compliance check
Cons:
- Delayed local compliance updates
- Complex setup for compliance rules
Other Financial Compliance Software
Here are some additional financial compliance software options that didn’t make it onto my shortlist, but are still worth checking out:
- Qooling
Best for quality and safety management
- Actimize
Best for financial crime management
- Process Street
Best for customizable compliance checklists
- Smarsh
Best for archiving electronic communications
- Star Compliance
Best for employee compliance monitoring
- Apiax
Best for API-first compliance integration
- Verint
Best for capturing persistent chats
- 360Factors
Best for AI-powered risk prediction
- Fenergo
Best for client lifecycle management
- Vanta
Best for automating compliance tasks
Related Reviews
If you still haven’t found what you’re looking for here, check out these other tools that we’ve tested and evaluated:
Financial Compliance Software Selection Criteria
When selecting the best financial compliance software to include in this list, I considered common buyer needs and pain points like ensuring regulatory adherence and managing audit trails effectively. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total weighting score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Ensure regulatory compliance
- Monitor transactions for suspicious activity
- Manage risk and compliance reporting
- Automate compliance processes
- Conduct audit trails
Additional Standout Features (25% of total weighting score)
To help further narrow down the competition, I also looked for unique features, such as:
- Real-time monitoring
- Centralized documentation management
- Automated alerts and notifications
- Customizable compliance workflows
- Integration with other financial systems
Usability (10% of total weighting score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Ease of navigation
- Customizability of dashboards
- Availability of mobile access
- Performance and speed
Onboarding (10% of total weighting score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Pre-built templates for quick setup
- Interactive product tours
- Access to support chatbots
- Regular webinars for user education
Customer Support (10% of total weighting score)
To assess each software provider’s customer support services, I considered the following:
- Availability of 24/7 support
- Multiple support channels (phone, email, chat)
- Dedicated account managers
- Response time to queries
- Quality of support documentation
Value For Money (10% of total weighting score)
To evaluate the value for money of each platform, I considered the following:
- Pricing transparency
- Availability of different pricing tiers
- Features included in the base price
- Cost of additional modules or features
- Comparison with competitors’ pricing
Customer Reviews (10% of total weighting score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall rating and satisfaction score
- Frequency of positive vs. negative reviews
- Comments on ease of use
- Feedback on customer support
- Experiences with implementation and onboarding
What Is Financial Compliance Software?
Financial compliance software is used to help businesses adhere to financial regulations and standards. Professionals like accountants, auditors, and compliance officers use these tools to ensure their organizations meet necessary legal requirements.
These tools offer value by reducing non-compliance risk, avoiding fines, and maintaining a good reputation. Features like automated reporting, regulatory updates, and audit trails help monitor compliance, stay up-to-date with changing laws, and provide audit documentation. Overall, these tools make it easier for businesses to comply with financial regulations.
Features Of Financial Compliance Software
When selecting financial compliance software, keep an eye out for the following key features:
- Risk assessment: Evaluates potential risks to address challenges proactively.
- Incident reporting: Streamlines reporting for timely issue resolution.
- Compliance tracking: Ensures adherence to industry regulations and standards.
- Document control: Manages and organizes crucial documents efficiently.
- Audit management: Facilitates internal and external audits by tracking compliance status and documenting processes.
- Automated reporting: Generates compliance reports automatically to ensure accuracy and save time.
- Policy management: Centralizes and manages compliance policies to ensure they are up-to-date and accessible.
- Training and education: Provides tools for employee training and education to maintain compliance awareness.
- Real-time monitoring: Continuously monitors transactions and activities to detect and mitigate compliance issues.
- Integration capabilities: Connects with other systems and tools to streamline data flow and enhance functionality.
Costs And Pricing Of Financial Compliance Software
Selecting financial compliance software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in financial compliance software solutions:
Plan Comparison Table For Financial Compliance Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic compliance tools, limited user access, and email support. |
| Personal Plan | $5-$25/user/month | Enhanced compliance tools, single user access, basic reporting, and email support. |
| Business Plan | $30-$70/user/month | Advanced compliance tools, multi-user access, detailed reporting, workflow automation, and priority email support. |
| Enterprise Plan | $100-$200/user/month | All compliance tools, unlimited user access, custom reporting, workflow automation, dedicated account manager, and 24/7 priority support. |
What’s Next?
Ready to compound your abilities as a finance professional? Subscribe to our free newsletter for expert advice, guides, and insights from finance leaders shaping the tech industry.