In today’s market, there is a diverse range of policy management solutions available, encompassing both proprietary company platforms and commercial policy management software, as featured here.

In this article, we invested significant effort in comprehensively assessing what makes great policy management software and the top choices within the market.

What makes a great policy management software?

Policy Management Software helps streamline, organize, and automate the management of company policies, procedures, and compliance documentation. The importance of policies lies in ensuring consistency, transparency, and compliance within an organization. Policies provide clear and specific guidance on how certain activities, processes, or behaviors should be conducted within the organization. They serve as a compass for employees, helping them understand what’s expected of them. They promote uniformity and consistency in decision-making and actions throughout the organization. This consistency ensures that everyone is on the same page and working towards common objectives.  Policy management software helps automate and streamline policy management processes helps enforce policies, tracks changes, aids in regulatory compliance, and facilitates efficient communication of policies across the organization, reducing risks and enhancing governance.

Key constituents of a high-quality policy management software solution

Since every organization has unique needs in Policy Management Software, we’ve chosen the elements that we believe most universally encompass these requirements. 

• User-Friendly Interface: Prioritize user-friendliness. Opt for software with an intuitive interface that ensures employees can easily access and comprehend policies. Overly complex or technically demanding software may result in low user adoption rates. 
• ROI (Return on Investment): ROI in policy management software can be measured by the savings achieved through reduced compliance violations, improved operational efficiency, employee satisfaction and minimized legal or regulatory fines. It also encompasses the enhanced ability to adapt to changing requirements, ensuring that an organization’s policies remain up-to-date and aligned with industry standards, ultimately contributing to a more efficient and compliant business environment.
• Compliance and Regulations: Verify that the software can accommodate your industry’s compliance requirements. Look for features that facilitate adherence to relevant laws, regulations, and industry standards. The software should support compliance tracking, reporting, and auditing. 
• Policy Creation and Management: Examine the software’s capabilities for policy creation, editing, and management. Seek features such as version control, approval workflows, and automatic notifications for policy updates. 
• Accessibility: Evaluate the software’s accessibility. It should be accessible from various devices, including mobile, to accommodate employees who require on-the-go policy access. Mobile accessibility is increasingly vital, especially in today’s remote and mobile workforce. 
• Security and Access Control: Emphasize the importance of security when managing policies. The software should offer robust access control and user authentication features to safeguard sensitive policy documents. 
• Integration Capabilities: Determine whether the software can seamlessly integrate with your existing systems. For instance, if your organization uses Microsoft SharePoint or other document management systems, consider policy management software that offers easy integration. 
• Reporting and Auditing: Look for strong reporting and auditing features. These capabilities help you monitor compliance, generate compliance reports, and maintain a detailed audit trail of policy changes. 
• Training and Support: Consider the level of training and support provided by the software provider. Access to adequate training resources and responsive customer support can significantly ease the implementation process. 
• Scalability: Take into account your organization’s growth. Ensure that the software can adapt to your evolving needs as your organization expands and requires more policies and compliance controls. 
• Cost and Budget: Compare the pricing of different solutions and assess whether the software’s features align with your budget. Be sure to include potential costs for customization and ongoing maintenance. 
• Reviews and References: Conduct thorough research by examining user reviews and seeking references from organizations that have used the software. This can offer valuable insights into the software’s real-world performance and user satisfaction.

Begin by precisely defining your organization’s policy management requirements. Having a clear understanding of your needs is fundamental to choosing the right software.

Best 5 Policy Management Software

Discover the best policy management software solutions to streamline your organization’s compliance and governance processes. In this section, we’ll explore the leading platforms that offer user-friendly interfaces, powerful features, and exceptional value to help you effectively manage policies and procedures.

PowerDMS

PowerDMS is a cloud-based policy management and compliance software. It offers features such as document version control, employee training, and automated workflow management. It’s popular in the public safety and healthcare sectors.

Capabilities

• Document management and version control.
• Employee training and certification tracking. 
• Policy approval workflows. 
• Automated reminders for updates. 
• Strong in public safety compliance 
• Robust employee training features. 

Pricing

Pricing can be relatively high. The cost of policy management software can depend on many variables:

• Base cost of the software
• Number of licenses/users
• Contract length (1–3 years)
• Price of add-ons

Depending on these variables, your policy software could cost anywhere between $4,000 and $100,000+ annually. 

Free Trial

Available. You need to contact the PowerDMS team to access the trial version

VComply Policy Management Software

VComply is renowned as the best policy management software in the industry, celebrated for its extensive features. It offers document management, workflow automation, and compliance tracking, making it the top choice for organizations of various sizes and industries seeking the best policy management solution.

Capabilities: 

• Policy document creation and management. 
• Automated workflows for policy creation, approval, and updates.
• Compliance tracking and reporting. 
• Integration with risk management and audit functions. 
• Centralized policy repository. 
• Role-based access control. 
• Document version control. 
• Comprehensive policy management solution for compliance with integrated features. 
• User-friendly interface and easy setup. 
• Strong compliance tracking and reporting capabilities. 
• Integration with risk and audit management streamlines governance
• Customizable to suit various industries and compliance needs. 
• Mobile accessibility for on-the-go policy management. 
• Robust audit trail and document version control. 
• Excellent customer support and training resources.

Pricing

Affordable pricing. They have a starter, Pro, and Enterprise plans. Contact the team for pricing.

Free Trial

Also, read 5 common policy management pain points and how VComply solves them

DocRead for SharePoint

If your organization uses Microsoft SharePoint, DocRead is a policy management add-on that integrates seamlessly. It allows you to distribute and track documents like policies and procedures directly within your SharePoint environment.

Capabilities

• Integration with Microsoft SharePoint
• Policy distribution within SharePoint.
• Tracking and reporting on document reads.
• Automatic email notifications.
• Role-based access control.
• Seamless integration with SharePoint.
• Familiar environment for SharePoint users.
• Simple tracking and reporting on document compliance.
• Works well for organizations already invested in SharePoint

Cons:

Limited to organizations using SharePoint.

May not have all the advanced features of standalone solutions.

ConvergePoint Policy Management Software

ConvergePoint provides a policy and procedure management system built on Microsoft SharePoint. It offers policy creation, approval workflows, and compliance tracking. 

Capabilities

• Policy creation and approval workflows.
• Compliance tracking and reporting.
• Integration with Microsoft SharePoint.
• Document version control.
• Employee training and certification tracking.
• Integrates well with SharePoint.
• Strong policy management features.
• Compliance tracking capabilities.
• User-friendly interface.
• Customizable to fit specific needs.

Cons:

Limited to organizations using SharePoint.

Pricing may vary based on the extent of customization required.

Effivity

Effivity offers a compelling reason to choose it with its cloud-based platform designed for the seamless creation, administration, and dissemination of policies within your organization. Notably, it excels in policy management by providing robust attestation tracking, setting it apart as one of the most all-encompassing tools available.

That being said, policy management software should be tailored to meet the unique requirements of your organization. The ideal policy management software can differ based on your industry, company size, and various other factors. This underscores the significance of teams dedicating ample time to evaluate their choices and choosing the policy management software that aligns best with their specific needs.

Having the appropriate tools at your disposal makes the process of policy management within your organization significantly more efficient. Consequently, the organization can allocate more resources and time to concentrate on other facets of management, all the while guaranteeing that the company’s policies remain current and are effectively put into practice.

Capabilities

• Streamlined approval workflows
• Comprehensive attestation tracking
• Efficient policy distribution

Wrap-up

VComply provides secure cloud-based software for managing policies and procedures throughout their complete lifecycle. You can confidently create, review, approve, distribute, and monitor policies, with the assurance that only one official version is in circulation.

Additionally, the VComply platform incorporates a range of integrated tools intended to streamline your policy management responsibilities. Explore how these tools can be beneficial to both you and your organization.

Furthermore, the VComply mobile application empowers employees to access essential information from any mobile device, wherever they may be, ensuring convenience and accessibility.

Discover what makes VComply a top G2 high performer in Policy Management year after year. Book your demo now!