I am looking for a regulatory intelligence tool that can help our rapidly growing organization keep up with changing regulations/laws in our industry and in the states across the US that we operate in. Right now, we rely on guidance from outside counsel/lobbyists and track any proposed laws or regulatory changes that might affect us manually. Most tools I have looked at are either full ERM products or Fintech/IT specific. Anyone have a great tool that fits this use case?
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Director of Legal and Compliancea month ago
My current company uses state.net and industry updates, but at my prior company we used OneSumX by WoltersKluwer. My team inherited this tool and at least as we implemented it, it sent us a lot of false results (not applicable to our industry) and was extremely out of date in terms of its usability/interface. Nobody liked it. I honestly was never able to learn whether we had just implemented the tool badly or not taken advantage of features it had that maybe cost more, but that's my experience with it.
In addition to State Net (part of LexisNexis), you may also want to look at SateScape and MultiState Associates. Both are comprehensive multi-state legislative and regulatory tracking tools. If you're looking for something with AI-assisted dashboards and actionable insights, I would recommend Compliance.ai or RegASK, which are more proactive, tech-forward solutions.