- Free Version: Available for teams of up to 10
- Pricing: Premium plan $24/seat/month (with free 30-day trial period)
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use SafetyCulture?
Trusted by thousands of companies worldwide, SafetyCulture empowers companies to stay ahead of evolving regulations and industry standards by automating regulatory horizon scanning. With its intuitive interface, extensive integration, and collaboration tools, compliance teams can effectively track new developments, quickly configure and roll out new templates, bring their policies and processes up to code, and mitigate the impacts of emerging risks while ensuring alignment with the organization’s needs and overarching goals.
Features:
- Generate audit reports and maintain a clear compliance history using ready-made and easily configurable regulatory compliance checklists.
- Improve cross-functional collaboration and drive a prompt and holistic response by disseminating critical regulatory updates to all stakeholders.
- Reform policies, processes, and systems before regulations become enforceable by replacing manual scanning and research with real-time regulatory monitoring.
- Recognize patterns in regulatory changes, gain actionable insights for long-term compliance strategies, and track the progress of changes with advanced analytics.
- Diversify information sources (e.g., regulatory bodies, industry leaders, social media), leverage various tools (e.g., Business Intelligence (BI), Artificial Intelligence (AI), Enterprise Resource Planning (ERP), etc.), and effectively consolidate them through robust integrations.
Why Use Finreg-E?
A specialized regulatory compliance and risk management software, Finreg-E supports financial institutions in managing compliance obligations by tracking changes and delivering the information to compliance teams in real time so they can comply with industry-specific rules and regulations.
Features:
- Digital rulebooks
- Compliance workflows (e.g., rules to control mapping)
- Regulatory reporting
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a web-based software
Why Use SGS Digicomply?
Digicomply, recently acquired by a leader in testing, inspection, and certification Société Générale de Surveillance (SGS), is one of the best food safety and regulatory compliance platforms. With automated trackers, compliance monitors, and hazard analysis, companies can gain visibility into upcoming regulatory changes and manage related risks.
Features:
- Compliance assessment
- Regulatory intelligence hub with early warning systems
- Advisory services
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a web-based software
Why Use Ascent?
A cloud-based compliance and regulatory intelligence platform, Ascent RLM helps financial services and institutions navigate evolving regulations and accompanying complex requirements. Its robust features automatically monitor updates, analyze obligations, and assign actionable tasks to appropriate personnel.
Features:
- Obligations inventory
- Global horizon scanning
- Policy and control mapping
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a web-based software
Why Use Appian?
A low-code automation platform mainly for accelerating business processes, Appian works well as a regulatory horizon scanner due to its rich functionalities, including workflow automation, customization, and data integration. It can track regulatory changes and notify relevant personnel so they can proactively respond to risks.
Features:
- Regulatory obligation tracking
- Industry-specific focus
- AI-powered intelligence
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
What is Regulatory Horizon Scanning Tools?
Regulatory horizon scanning tools are platforms, software solutions, or applications that identify, monitor, and forecast changes in government regulations, regional-specific laws, and industry standards that may impact organizations. These provide early warnings and actionable insights for comprehensive compliance management, enabling companies to adjust policies, processes, and strategies.
Benefits
Although the term horizon scanning for regulatory change seems novel, actively monitoring and anticipating amendments in mandated laws and standards has been practiced for decades. Thanks to tech advancements, this challenging task has become less complex and tedious. These are some advantages of investing in these tools:
- Reduced manual and repetitive workload – Automating regulatory scanning, regulatory reporting, and analysis frees up compliance team members’ time, enabling them to focus on implementing changes, allocating resources, and managing emerging risks.
- Proactive compliance – Businesses that are updated on new and evolving regulations can immediately reform policies and procedures. They are also audit-ready, preventing potential fines and legal challenges from non-compliance.
- Increased competitive edge – Change management software solutions allow companies to adapt strategies to new requirements more efficiently. They are deemed more trustworthy by investors, partners, and the general public, putting them on top compared to slow-moving competitors.
Key Features
When selecting a regulatory horizon scanning tool, consider these key features to ensure optimal performance:
- Automated regulatory alerts
- Multi-jurisdictional coverage and industry-specific tracking
- Customizable checklists for audits and reports
- Document management with search and filter capabilities
- Risk assessment capabilities
- Compliance tracking
- Collaboration tools with real-time updates
- Analytics with AI-driven predictions
- Integration with existing systems
- Mobile accessibility with offline capabilities
How to Choose the Right Regulatory Horizon Scanning Tools
Using the right regulatory horizon scanning tool can significantly impact your organization’s ability to stay compliant and competitive. Take another look at the top-rated options before making your final choice:
| Regulatory Horizon Scanning Tools | Free Version | Paid Plan | Mobile App |
| SafetyCulture | Yes | $24/seat/month* | Yes |
| Finreg-E | No | Contact vendor for pricing | No |
| SGS Digicomply | No | Contact vendor for pricing | No |
| Ascent | No | Contact vendor for pricing | No |
| Appian | No | Contact vendor for pricing | Yes |
* billed annually
Eunice Arcilla Caburao