Diligent vs TrustLayer

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Our analysts compared Diligent vs TrustLayer based on data from our 400+ point analysis of Risk Management Software, user reviews and our own crowdsourced data from our free software selection platform.

Product Basics

Diligent is a cloud-based vulnerability management platform designed to meet modern-day security demands. Integrated risk management capabilities automate the entire process – from discovery and assessment to treatment and documentation. Cover as much ground as possible with clearly delineated risk owners. The governance reviews and flags any issues within a company’s corporate record for immediate remediation.

The compliance management module offers workflows to check for conflicts, fraud, bribery and regulatory noncompliance. Comes with interactive dashboards for real-time updates on current compliance status. It includes an auditing program, internal audit controls, SOX reporting, and IT and performance auditing functionalities. Connect to any data source for complete visibility into related processes.
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TrustLayer is a sophisticated software solution designed to streamline and enhance risk management processes. It automates the verification of insurance, licenses, and compliance documents, making it particularly beneficial for businesses that manage numerous vendors, contractors, or partners. The platform is ideal for industries such as construction, real estate, and finance, where managing risk and compliance is critical.

Key benefits of TrustLayer include reducing administrative burdens, minimizing human error, and ensuring continuous compliance. Popular features encompass automated certificate of insurance (COI) tracking, real-time verification, and seamless integration with existing systems. Users appreciate its intuitive interface and robust reporting capabilities, which provide actionable insights into risk exposure.

Compared to similar products, TrustLayer stands out for its user-friendly design and comprehensive automation features, which significantly cut down on manual tasks. Pricing details are not readily available, so it is recommended to contact SelectHub for a tailored quote based on specific needs.

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Product Insights

  • Efficient Governance: Simplify governance with real-time access to processes, industry and competitor data, and company-wide communications. 
  • Actionable Data: Find the information to act on ESG promises by collecting and analyzing ESG and sustainability data from a large network. Benchmark company performance against internal and external frameworks to find areas of improvement. 
  • Adaptable Platform: Adapt to the evolving risk landscape by customizing everything from risk libraries and controls to dashboards and reports. Always be prepared for any change. 
  • Promote Workplace Ethics: Discourage unethical and illegal practices by actively monitoring fraud, bribery and noncompliance. 
  • Have Data On Hand: Set up automated workflows to track KPIs and KRIs. Make critical business decisions using consolidated audit data. 
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  • Enhanced Compliance: TrustLayer automates the verification of insurance certificates, ensuring that all vendors and contractors meet compliance requirements without manual intervention.
  • Risk Reduction: By continuously monitoring and validating insurance coverage, TrustLayer helps mitigate potential risks associated with uninsured or underinsured parties.
  • Time Savings: The platform streamlines the process of collecting and verifying insurance documents, freeing up valuable time for risk management teams to focus on more strategic tasks.
  • Improved Accuracy: Automated data entry and validation reduce the likelihood of human errors, ensuring that all information is accurate and up-to-date.
  • Centralized Documentation: TrustLayer provides a single repository for all insurance documents, making it easy to access and manage records from one centralized location.
  • Real-Time Updates: The software offers real-time updates on the status of insurance certificates, allowing for immediate action if a policy lapses or is insufficient.
  • Enhanced Collaboration: TrustLayer facilitates better communication and collaboration between risk management teams, vendors, and contractors through its integrated platform.
  • Cost Efficiency: By reducing the need for manual processes and minimizing the risk of non-compliance penalties, TrustLayer can lead to significant cost savings for organizations.
  • Scalability: The platform is designed to grow with your business, easily handling an increasing number of vendors and insurance certificates as your operations expand.
  • Data Security: TrustLayer employs robust security measures to protect sensitive information, ensuring that all data is stored and transmitted securely.
  • Customizable Workflows: The software allows for the creation of tailored workflows that align with your organization's specific risk management processes and requirements.
  • Audit Readiness: With all documentation and verification processes logged and easily accessible, TrustLayer simplifies the preparation for audits and regulatory reviews.
  • Vendor Accountability: The platform holds vendors accountable by providing clear visibility into their compliance status, encouraging them to maintain proper insurance coverage.
  • Integration Capabilities: TrustLayer can seamlessly integrate with existing enterprise systems, enhancing overall operational efficiency without disrupting current workflows.
  • Proactive Risk Management: By identifying potential issues before they become problems, TrustLayer enables a more proactive approach to managing risk.
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  • Risk Management: Create a centralized risk register for the entire organization and implement automated workflows to identify, assess and neutralize all recorded risks. 
    • Integrated Risk: Continually integrate and analyze available data sets to address vulnerabilities in real time. Use data visualizations, dashboards and reporting to make data-driven decisions concerning critical threats. Connect existing data to assign risk scores. 
    • Enterprise Risk: The ERM module provides risk detection and response, compliance and reporting capabilities. Use existing best-practice risk and control libraries or customize to keep up with regulatory standards. Improve stakeholder engagement with data visualizations and storyboarding and discover errors, omissions and anomalies. 
    • IT Risk: Access preconfigured workflows to get visibility into exploits and vulnerabilities. Automate repetitive processes and customize existing workflows to adapt to changing needs. 
    • Third-Party Risk: Use storyboards, data visualizations, reports and analytics to identify and prioritize critical risks. Integrate third-party information across the system to streamline contract negotiations. Categorize vendors based on impact, exposure and risk and centralize all data on the inventory of third parties. 
  • Modern Compliance: Perform conflict checks, fraud and bribery inspections, and regulatory non-compliance inspections. Create microlearning resources to provide visibility into compliance and create an ethical workplace atmosphere. 
  • Governance: Conduct digital and in-person board, committee and leadership meetings, and manage entities, subsidiaries and corporate records. Set up custom corporate compensation plans and keep tabs on brand effectiveness and reputation. Automatically flag any issues for immediate resolution. 
  • Audit Management: Set up automated workflows to track KPIs, KRIs, control processes and audit tasks. Customize audits according to the company’s needs. Use data visualization to describe performance to external auditors and regulators. Identify areas of concern and perform remote audits. 
    • Internal Controls: Optimize the control testing process with automated workflows and data integration from third-party apps like Salesforce, SAP and Concur. Consolidate risk data from existing frameworks and external sources to build risk and control libraries. 
    • Financial Reporting: Access plug-and-play dashboards designed for SOX reporting. Run audits, share results and notify stakeholders with a single button. Standardize SOX, UK SOX and J-SOX reporting with pre-existing SOX templates. 
    • IT Audit: Get complete visibility over key IT controls and activities. Eliminate bottlenecks and duplication with automated workflows, best-practice work papers and centrally accessible risk and control libraries. 
    • Performance Audit: Monitor public sector programs for incidents of waste, abuse and transactional fraud. Streamline audits with access to .gov content frameworks and toolkits. 
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  • Automated Certificate Collection: Streamlines the process of collecting insurance certificates from vendors, reducing manual effort and errors.
  • Real-Time Verification: Ensures that insurance certificates are valid and up-to-date by verifying them in real-time against insurance carrier databases.
  • Customizable Compliance Rules: Allows users to set specific compliance requirements tailored to their business needs, ensuring that all vendors meet the necessary standards.
  • Integration with Existing Systems: Seamlessly integrates with popular ERP, CRM, and procurement systems, enhancing workflow efficiency without disrupting existing processes.
  • Risk Scoring: Provides a comprehensive risk score for each vendor based on their insurance coverage and compliance status, aiding in informed decision-making.
  • Document Management: Centralizes storage of all compliance documents, making it easy to access and manage them from a single platform.
  • Automated Reminders: Sends automated notifications to vendors and internal teams about upcoming certificate expirations, ensuring continuous compliance.
  • Audit Trail: Maintains a detailed log of all actions taken within the platform, providing transparency and accountability for compliance activities.
  • Custom Reporting: Generates detailed reports on compliance status, risk levels, and other key metrics, helping businesses stay informed and proactive.
  • User-Friendly Interface: Features an intuitive and easy-to-navigate interface, making it accessible for users of all technical skill levels.
  • Secure Data Handling: Employs robust security measures to protect sensitive information, ensuring compliance with data protection regulations.
  • Vendor Portal: Provides a dedicated portal for vendors to upload and manage their compliance documents, streamlining communication and collaboration.
  • Scalability: Designed to accommodate businesses of all sizes, from small enterprises to large corporations, with scalable features and pricing plans.
  • API Access: Offers API access for custom integrations and advanced functionality, allowing businesses to tailor the platform to their specific needs.
  • Training and Support: Includes comprehensive training resources and responsive customer support to ensure users can effectively utilize the platform.
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Product Ranking

#39

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#56

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Risk Management Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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Audit Management Business Continuity Management Compliance Incident Management Operational Risk Management And IT Security Platform Capabilities Policy Management Regulatory Management Reports And Dashboards Risk Management Vendor Risk Management 97 97 98 90 81 87 98 100 83 98 73 0 25 50 75 100
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User Sentiment Summary

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Excellent User Sentiment 4 reviews
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100%
of users recommend this product

TrustLayer has a 'excellent' User Satisfaction Rating of 100% when considering 4 user reviews from 2 recognized software review sites.

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5.0 (2)
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Awards

SelectHub research analysts have evaluated Diligent and concluded it earns best-in-class honors for Regulatory Management.

Regulatory Management Award

TrustLayer stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

Synopsis of User Ratings and Reviews

Centralized Platform: Provides a single location for managing audits, risks, policies, and incidents, which streamlines workflows and enhances collaboration.
Compliance Management: Offers tools and features to help organizations adhere to industry regulations and internal policies, reducing compliance risks.
Risk Assessment: Enables users to identify, assess, and prioritize risks, facilitating proactive risk mitigation strategies.
Reporting and Analytics: Generates comprehensive reports and dashboards, providing insights into risk and compliance performance.
Third-Party Risk Management: Helps organizations assess and monitor the risks associated with third-party vendors and suppliers.
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Automated Compliance: TrustLayer automates the process of collecting, tracking, and verifying insurance documents, reducing the risk of manual errors and ensuring compliance.
Time Savings: By automating previously manual tasks, TrustLayer frees up valuable time for risk managers to focus on more strategic initiatives.
Improved Visibility: The platform provides a centralized hub for managing certificates of insurance, making it easy to track compliance status and identify potential risks.
User-Friendly Interface: TrustLayer is designed with a simple and intuitive interface, making it easy for users to adapt to the platform and navigate its features.
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Steep Learning Curve: Diligent's interface can be overwhelming for new users due to its extensive features and functionalities. This complexity can lead to a longer onboarding process and require additional training resources.
Customization Challenges: Adapting Diligent to specific workflows or unique risk management requirements can be difficult. The platform's rigidity may limit flexibility and hinder seamless integration with existing systems or processes.
Cost Considerations: Diligent's pricing structure can be a barrier for smaller organizations or those with budget constraints. The subscription fees and potential additional costs for implementation or support services may require careful financial evaluation.
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Limited Customization: While TrustLayer is a powerful platform, it lacks some customization options, making it difficult for some businesses to tailor the software to their specific needs.
Integration Issues: Some users have reported difficulties integrating TrustLayer with their existing systems, which could pose problems for businesses that rely on multiple software solutions.
Organizational Compliance Feature: A user expressed a desire to be able to turn off the organizational compliance feature, finding it unnecessary for their needs.
Managing Numerous Organizations: A user managing dozens of organizations found it tedious to make changes at the individual organization level, suggesting a need for a master-level management feature.
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Diligent emerges as a robust governance, risk, and compliance (GRC) platform, streamlining board management, entity management, and more. Users consistently praise its intuitive interface and user-friendly design, making navigation and adoption seamless for teams of all technical backgrounds. Diligent's strength lies in its comprehensive suite of features, encompassing everything from board meeting management and secure document sharing to real-time collaboration tools and data-driven insights. The platform's ability to centralize critical information and automate routine tasks empowers organizations to enhance efficiency and make informed decisions. Furthermore, Diligent's robust security measures and compliance certifications instill confidence in users regarding data protection and regulatory adherence. However, some users note that Diligent's extensive feature set can initially feel overwhelming, requiring dedicated training and support to fully leverage its capabilities. Additionally, while Diligent offers a range of integrations with third-party applications, some users express a desire for more extensive integration options to further streamline workflows. Cost considerations also arise, as Diligent's pricing structure may pose challenges for smaller organizations or those with limited budgets. Diligent distinguishes itself through its commitment to innovation and customer-centricity. The platform continuously evolves with regular updates and enhancements based on user feedback, ensuring it remains at the forefront of GRC technology. Diligent's dedicated customer support team is highly responsive and knowledgeable, providing timely assistance and guidance to users. This focus on user experience and continuous improvement sets Diligent apart from competitors and fosters long-term customer loyalty. Diligent is best suited for mid-sized to large organizations, particularly those operating in highly regulated industries or with complex governance structures. Its comprehensive features, scalability, and security make it an ideal choice for organizations seeking to enhance GRC practices, improve board effectiveness, and mitigate risks. Diligent's ability to streamline processes, centralize information, and provide data-driven insights empowers organizations to make informed decisions, drive growth, and achieve their strategic objectives.

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TrustLayer emerges as a highly regarded risk management tool, receiving overwhelmingly positive feedback from users, particularly those in mid-market companies. Customers rave about its intuitive platform, making insurance verification a breeze. A recurring theme in user reviews is the "user-friendliness" of the platform, with one user even claiming they "picked up how to use it in about an hour." Users particularly appreciate the automation features that streamline compliance tracking, freeing up valuable time and minimizing errors, which is essential for maintaining accurate records and mitigating potential risks. However, some users expressed that the initial setup could be smoother and wished for faster customer support responses. Overall, TrustLayer proves to be a perfect fit for organizations, particularly those in construction and those with 51-1000 employees, aiming to simplify their risk management processes and enhance their compliance procedures.

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