Compliance management software helps organizations identify and mitigate compliance-related risks proactively. By monitoring compliance-related activities in real time and providing alerts when potential risks are identified, the software enables organizations to take corrective action promptly and minimize the impact of any non-compliance or compliance-related issues.

Risk management refers to the process of identifying, assessing, and prioritizing potential risks with regard to an organization’s compliance with laws, regulations, and policies. It helps in taking steps to mitigate or eliminate such risks. Risk management is to ensure that an organization’s compliance also minimizes the potential risk for legal or financial liability, reputational harm, or other negative consequences.