Navigating the constantly evolving landscape of compliance can be a challenging task for organizations, as it involves adhering to various regulations and stakeholder obligations across industries and countries. A comprehensive compliance program that covers all applicable laws and stakeholder requirements is crucial for every business to stay on top of their compliance obligations.
At Lean Compliance, we specialize in helping organizations stay between the lines and head of risk. Through the lens of our proactive integrative approach we help organizations evaluate and improve existing compliance programs, systems, and technologies used to address both management and technical aspects of compliance.
In this series we explore the technology side of compliance which we have categorized into the following solution categories:
Regulatory Compliance solutions - these solutions are designed specifically to help organizations comply with regulations and laws. This can include tools for monitoring regulatory changes, automating compliance tasks, and managing compliance documentation.
Risk Management solutions - these solutions help organizations identify, assess, and mitigate compliance risks. This can include tools for conducting risk assessments, implementing internal controls, and monitoring compliance metrics.
Environmental, Health, and Safety (EHS) solutions - these solutions are designed to help organizations manage compliance with environmental, health, and safety regulations. This can include tools for managing hazardous materials, tracking safety incidents, and monitoring compliance with OSHA regulations.
Governance, Risk, and Compliance (GRC) solutions - these solutions provide a holistic approach to managing compliance, risk, and governance issues. This can include tools for managing policies and procedures, conducting risk assessments, and monitoring compliance metrics across the organization.
Compliance Management software - this category includes software solutions that help organizations manage their compliance programs. This can include tools for tracking compliance obligations, managing audits and inspections, and monitoring compliance metrics.
In this first article we look at four vendors that specialize in the Regulatory Compliance solutions category: Enhensa, Nimonik, RegScan, and STP Publishing:
ENHESA is a consulting firm that specializes in providing EHS regulatory compliance services to multinational companies. They provide expert guidance on regulatory compliance issues, helping organizations to identify and mitigate risks, develop compliance strategies, and stay up-to-date with the latest regulatory changes.
Nimonik is a compliance software company that provides environmental, health, and safety compliance auditing and monitoring solutions. They offer a web-based platform that helps organizations manage their regulatory compliance obligations through automated audits, corrective actions, and tracking of regulatory changes.
RegScan is a company that provides compliance solutions to help businesses manage their environmental, health, and safety (EHS) regulations. They offer a web-based platform that provides access to regulatory data, analysis tools, and compliance management systems to help organizations stay up-to-date with regulatory changes and ensure compliance.
STP Publishers is a publishing company that provides regulatory compliance information in various formats, including online, print, and mobile applications. They offer a range of products, such as guides, handbooks, and manuals, covering various EHS regulatory topics, including OSHA, EPA, and DOT regulations.
These companies provide various solutions to help organizations stay compliant with obligations that include (but not limited to): environmental, health, and safety requirements. They all offer expertise, software solutions, and regulatory information to assist businesses better meet their compliance obligations.
Where do ENHESA, Nimonik, Regscan and STP Publishers map to the solutions categories?
There is often significant overlap with technology solutions, and this is no different when it comes to compliance. Solutions offered by each company may vary depending on the specific package or plan that an organization chooses to subscribe to, and the categories listed above are not exhaustive. However, based on their websites and marketing materials, here's how the solutions compare to the compliance solution categories:
Regulatory compliance solutions: All four companies offer regulatory compliance solutions that help organizations comply with laws and regulations. These solutions can include tools for monitoring regulatory changes, automating compliance tasks, and managing compliance documentation.
Risk management solutions: all four companies offer partial risk management solutions to help organizations identify, assess, and mitigate compliance risks with support for conducting risk assessments and capturing risk metrics.
Environmental, health, and safety (EHS) solutions: Nimonik, ENHESA, EHS solutions to help organizations manage compliance with environmental, health, and safety regulations.
Governance, risk, and compliance (GRC) solutions: ENHESA, and Nimonik both offer partial GRC solutions to address compliance, risk, and governance requirements that include managing policies and procedures and monitoring compliance metrics.
Compliance management software: ENHESA, and Nimonik both offer compliance management software solutions that allow organizations to track compliance obligations, manage compliance activity, conduct audits and inspections, and monitor compliance metrics.
Here's a summary comparison of the solutions offered by Enhensa, Nimonik, RegScan, and STP Publishing against the solution categories listed above:
Compliance Solutions Category | ENHESA | Nimonik | Regscan | STP Publishers |
Regulatory compliance solutions | Yes | Yes | Yes | Yes |
Risk management solutions | Partial | Partial | Partial | Partial |
Environmental, health, and safety (EHS) solutions | Yes | Yes | No | No |
Governance, risk, and compliance (GRC) solutions | Partial | Partial | No | No |
Compliance management software | Yes | Yes | Partial | Partial |
This comparison is based on publicly available information and may not be exhaustive or completely accurate.
How do ENHESA, Nimonik, Regscan and STP Publishers help you stay between the lines and ahead of risk?
ENHESA, Nimonik, Regscan, and STP Publishers are all designed to help companies manage compliance. However, the effectiveness of each solution in handling compliance risk depends on several factors, including the specific industry, the types of regulations that the organization must comply with, and the organization's specific compliance needs and requirements.
That being said, ENHESA is generally considered to be a leading provider of compliance solutions for multinational companies that need to manage compliance across multiple jurisdictions. ENHESA's solutions provide a comprehensive approach to compliance risk management, including a focus on risk assessments, compliance audits, and compliance gap analysis.
Nimonik also offers a comprehensive range of compliance management tools and features to identify and manage obligations, create and track compliance activity, conduct audits, and capture and monitor compliance risks.
STP Publishers and RegsScan primarily provide compliance content (RegScan also provides audit capabilities) such as manuals and online resources, that can help organizations stay up-to-date with regulatory changes and requirements. While these resources can be useful in staying between the lines, they may not provide the same level of hands-on support and guidance needed to contend with uncertainty and risk.
Overall, the effectiveness of each solution in handling compliance risk will depend on the specific needs and requirements of the organization. It is important to evaluate each solution based on its specific features, capabilities, and industry focus to determine which one will best meet the organization's compliance risk management needs.
Here's how each compare against key compliance capabilities:
Features | ENHESA | Nimonik | Regscan | STP Publishers |
Compliance monitoring and tracking | Yes | Yes | Yes | No |
Regulatory updates and alerts | Yes | Yes | Yes | Yes |
Compliance gap analysis | Yes | Yes | Yes | No |
Compliance risk assessments | Yes | Yes | Partial | No |
Compliance audit tools | Yes | Yes | Yes | Partial |
Multinational compliance management | Yes | No | No | No |
Environmental, health, and safety compliance management | Partial | Yes | No | No |
Industry-specific compliance guidance | No | No | No | Yes |
Integration with enterprise systems | Yes | Yes | Yes | Yes |
This comparison is not meant to be exhaustive and there may be additional features and capabilities offered by each solution beyond those listed here. Additionally, the specific features and capabilities of each solution may vary depending on the specific package or plan that an organization chooses to subscribe to.
What are the main differences between ENHESA, Nimonik, Regscan and STP Publishers?
ENHESA, Nimonik, Regscan, and STP Publishers all provide regulatory compliance solutions, but there are some differences between them.
ENHESA is a global environmental, health, and safety (EHS) consultancy that provides compliance solutions to businesses operating in various industries. Their services include regulatory analysis, EHS audits, and compliance management systems.
Nimonik provides a turn-key web-based compliance monitoring platform that helps organizations to identify, track, and comply with applicable regulations. Their services include audit and inspection tools, document management, and automated compliance alerts. The main differentiator is that they have both software and content, allowing you to rapidly deploy a compliance monitoring program. They can also extract obligations from your internal documents such as permits, policies and procedures.
RegScan is a global regulatory compliance solution provider that offers compliance monitoring, analysis, and management solutions for businesses. Their services include compliance audits, training, and consulting. They are now owned by ENHESA, which is based in Belgium.
STP Publishers is a provider of EHS and sustainability regulatory compliance solutions, offering online tools and consulting services to help organizations stay up-to-date with regulatory changes. Their services include regulatory compliance news and analysis, training, and audit checklists.
Regscan, ENHESA and STP focus on providing data. To fully use their information you often need to purchase software programs such as a GRC platform or an EHS platform. If you are a large organization with a big team and budget, this might be the best option as you will be able to fully customize the program.
The main differences between these providers are the scope of the industries they serve as well as the management capabilities they provide. For example, while all four providers offer compliance monitoring and management solutions, ENHESA focuses specifically on EHS compliance, while Nimonik covers regulatory change for privacy, cybersecurity, HR, aviation and numerous other areas of concern. Each have different ways for risk to be captured, evaluated and managed.
Ultimately, the choice of provider will depend on your organization's specific needs and the industries you operate in. It's important to conduct thorough research and evaluation of the various providers to determine which one offers the best fit for your organization's compliance needs.
Summary
In today's business landscape, regulatory compliance is more important than ever. Failure to comply with regulations can result in hefty fines, legal action, and damage to a company's reputation. Fortunately, technology solutions have emerged to help organizations manage compliance more efficiently and effectively.
ENHESA, Nimonik, Regscan, and STP Publishers are four companies that offer regulatory compliance solutions that assist organizations in complying with laws and regulations. These solutions include tools for monitoring regulatory changes, automating compliance tasks, and managing compliance documentation and information.
Overall, compliance technology solutions are becoming more critical for organizations to effectively manage their regulatory and stakeholder obligations. The solutions offered by these companies can provide organizations with the tools they need to stay compliant, avoid costly penalties, and protect their reputation.
Lean Compliance helps organizations stay between the lines and head of risk. Visit our website to learn how you can improve the probability of mission success by using a proactive and integrative approach to compliance.
