Top 10 Companies Dominating the Global Compliance Management Software Market

The global compliance management software market size is projected to grow at a CAGR of 11.2% between 2024 and 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the increasing technological advancements.

Compliance management software refers to the software that enables enterprises to comply with legal and regulatory requirements. The adoption of compliance management software enables the easy monitoring of document updates, policy acknowledgements, training materials, incident reports, and corrective measures. This further improves accountability and helps in settling possible disagreements w.r.t compliance.

One of the key compliance management software market trends is the automation of routine compliance tasks, which minimises the potential for human error and allows for more efficient use of valuable time. The system effectively captures and organises regulatory obligations, transforming what was once a complex array of requirements into a straightforward, actionable task list. This increased efficiency enables organisations to allocate more resources to strategic initiatives, thereby enhancing the overall compliance function. Reportedly, organisations that adopted Resolver software witnessed a 75% improvement in compliance testing efficiency.

Figure: Global AI Adoption (2022)

As per the compliance management software market analysis, technological advancements are driving the market growth. Emerging technologies such as Artificial Intelligence (AI), cyber forensics, Robotic Process Automation (RPA), and blockchain are anticipated to gain considerable traction in the development of data-driven and metrics-based compliance programs. The integration of AI and machine learning within the BFSI sector enables the automation of risk assessments, fraud detection, and regulatory compliance checks. These advanced technologies enhance the efficiency of compliance processes and deliver real-time insights, facilitating proactive risk management. Additionally, the adoption of blockchain technology introduces a decentralised and tamper-resistant ledger, ensuring the integrity of financial transactions. By leveraging blockchain in compliance workflows, BFSI organisations can improve transparency, mitigate fraud, and optimize cross-border transactions.

In September 2023, LogicGate, a leading provider of Governance, Risk, and Compliance (GRC) solutions launched the Automated Evidence Collection feature through its Risk Cloud® platform. The feature is designed to improve productivity, control effectiveness and data-driven decision-making while ensuring compliance and security across more than 20 cybersecurity and privacy frameworks.

Top 10 Compliance Management Software Companies in the World:

CyberOne LLC

CyberOne LLC is engaged in providing modern IT Security and solutions. CyberOne LLC offers solutions such as Vulnerability Disclosure Program, Audit and Accreditation, Cloud Security Assessment, Threat and Vulnerability Management, IoT Security, DevSecOps, Red Teaming, and Bug Bounty. The company has an innovative platform called PEACOCK a bug bounty platform with built-in AI with cyber resilience against threats and vulnerabilities.

MetricStream, Inc

MetricStream is an Integrated Risk Management and GRC solutions company based in the United States. The company provides solutions such as Enterprise GRC Solution, Integrated Risk Management Solution, Cybersecurity Risk Management Solution, Corporate Compliance Management Solution, Supplier Risk and Performance Management Solution, Digital Operational Resilience Act (DORA) Solution, UK SOX Compliance Management Solution, Privacy Compliance Management Solution, and IDW PS 340 n.F. Solution.

Wolters Kluwer N.V

Wolters Kluwer is a reputed company offering professional information, software solutions, and services for clinicians, accountants, lawyers, and tax, finance, audit, risk, compliance, and regulatory sectors. The company serves customers across more than 180 countries and conducts operations in over 40 countries. The company has a workforce of approximately 20,000 people worldwide. The company is listed on EURONEXT under the symbol WKL.

Navex Global, Inc

Navex is a GRC management software and services company. The company offers its services to over 13,000 companies worldwide. The company also has offices in London, Charlotte, North Carolina, Frankfurt and Bangalore. The company’s employee compliance management products include ethics and compliance training, Ethicspoint essentials, disclosure management, policy and procedure management, etc. The company also provides third-party risk management products such as third part screening and monitoring, simplified vendor management etc.

Quantivate, LLC (NContracts)

nCino is a reputed company in the cloud banking sector. The company is listed on NASDAQ under the symbol NCNO. Currently, over 1,850 financial institutions across the globe makes use of nCino Cloud Banking platform. The company has a workforce of more than 1,650 employees across the globe. The company has offices in Wilmington, Lehi, Toronto, London, Madrid, Johannesburg, Sydney, Melbourne, Tokyo, and Auckland.

Ascent RegTech (Edgewater Equity Partner)

Ascent RLM is a global regulatory lifecycle management platform for financial services. The company’s Ascent Regulatory Lifecycle Management (RLM™) platform engages in identifying early signs of regulatory developments, shifts in regulatory approach evidenced by new guidance or enforcement activity, right through rule adoptions and ongoing rule amendments. The company provides its services to financial services, mortgage lenders, fintech, and professional services.

Proind

Proind is a corporate legal advisory and technology service company, based in India. The company’s products include Compliance Controller, LPMS (Legal Process Management System), and Entity Management System. The company boasts more than 100 thousand users and serves over 35 industries. The company’s business solutions are marketed under the brand name PROInd®, which are developed on Microsoft Framework and SQL Server.

Alcumus Group Limited

Alcumus offers integrated approach to managing Health, Safety and ESG across industries, locations, contractor and supplier networks. The company has a team of more than 1,000 employees across UK, North American, American and APAC offices. The company offers its services to more than 45,000 customers around the globe.

Integration Appliance, Inc

Intapp is a leading global provider of software. The company provides its services to industries such as accounting, consulting, corporate, investment banking and advisory, legal, private capital, and real assets. Intapp boasts more than 2,550 clients worldwide, including 95 of the American Law 100 legal firms, 15 of the top 20 global accounting firms, and more than 1,700 private capital and investment firms.

Orion Advisor Solutions, Inc.

Orion is a wealth tech company supporting more than 5 million technology accounts and thousands of independent advisory firms. The company provides its solutions to firms such as RIAs, broker-dealers, banks and trusts, and custodians, and also provides to individuals such as financial advisors, business owners, chief compliance officers, chief operations officers, and chief technology officers.