20 Most Promising Compliance Tech Solution Providers - 2014

Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. Regulatory compliance often requires providing sensitive corporate information to government and service provider organizations. The security and privacy components of compliance are creating a more definitive baseline for data sharing and protection.

As a corporate official in charge of overseeing and managing compliance issues within an organization, the Chief Compliance Officer maintains knowledge about the recent policies and procedures, encouraging managers and employees to report suspected fraud and other improprieties without fear of retaliation. Compliance with ongoing developments from Dodd-Frank Act, PCI- DSS, GLBA, FISMA, Sarbanes-Oxley Act, Joint Commission, and HIPAA are of high priority for different fields. The Securities and Exchange Commission (SEC) implements new fraud detection systems for operations and evaluate firms for compliance with measures intended to detect fraudulent practices. Given the scale of the regulatory framework, it is clear that large-scale information systems are necessary for major corporations to achieve compliance and to mitigate associated risks.

While compliance often is initially viewed as an unnecessary administrative burden with untenable costs, the motivation behind the legislation is typically a result of industries' inability to effectively address significant shortcomings in business practices. Corporations have become concerned about compliance because of increasingly stringent and complex legal requirements. In this realm, there are many technology developments that enable significant improvements in fraud detection systems, ensuring compliance. To help CCOs, CIOs, and CEOs find the right compliance technology and provider for their enterprises, our selection panel has evaluated hundreds of compliance technology providers that own innovative technologies, in this space.

In our selection, we looked at the vendor’s capability to fulfill the burning need of cost-effective and flexible solutions to tackle complex compliance challenges. We present to you CIO Review’s 20 Most Promising Compliance Technology Providers, 2014.

Company Name

Company Description

Allegro Development Commodity trading and risk management solutions provider to mitigate risk and ensure compliance
Allgress The Allgress Insight Risk Management Suite enables organizations and their business partners to efficiently manage their risk, security, and compliance post
Assent Compliance Product Compliance Software and Services
Ceridian Ceridian delivers a wide range of solutions including human resources, payroll, workforce management, talent management, tax compliance and risk management
CFM Partners CFM Partners delivers integrated, knowledge-based GRC solutions that enhance corporate governance and improve corporate risk management
ControlPanelGRC GRC platform that automates compliance and auditrelevant tasks for SAP IT and security professionals.
Entrust Entrust provides cost-effective, identity-based security solutions.
HotDocs Provider of automated document generation technology which delivers risk reduction, time savings, and increased accuracy.
icix icix enables trading partners to connect and collaborate on business-critical information to manage supply chain risk.
KPMG LLP A provider of audit, tax and advisory services.
Polaris Solutions Consulting and technology provider of compliance solutions for Life Sciences companies
Riskonnect Provider of a premier, enterprise-class technology platform for the risk management industry
RiskVal Financial Solutions RiskVal is a financial engineering company which creates software for the financial services industry and provides consulting services in risk management and trading strategies
Safe Banking Systems Specialist provider of Anti-Money Laundering and financial crime solutions with a focus on risk, entity resolution and actionable AML intelligence
SQL Power A global application Software firm specializing in XBRL Regulatory Solutions and Business Intelligence implementations
TASCET Enterprise risk management company that enables the digital identification of consumers
Verint A provider of Actionable Intelligence solutions for customer engagement optimization, security intelligence, and fraud, risk and compliance
Workiva Provides complex cloud-based product platform business reporting solutions to the industry