Top Considerations for Compliance Software RFPs

Selecting the right compliance solution means more than ticking boxes on a feature list, it’s about pivoting your organization toward proactive risk management and sustainable growth. As organizations navigate increasingly complex regulatory environments, their compliance software must manage interconnected risks: from TPRM and COI to ESG reporting. Building an RFP (Request for Proposal) that captures these requirements is essential for a successful, future-proof investment.

The Importance of a Structured Compliance RFP

A well-crafted RFP is the cornerstone of a successful compliance software selection journey. By establishing clear requirements, companies can compare vendors objectively, mitigate business and reputational risks, and ensure solutions align to their unique needs. A structured compliance RFP helps teams articulate use cases, anticipate potential regulatory changes, and avoid hasty procurements that result in patchwork implementations or costly rework.

Getting stakeholder buy-in- from risk teams, IT, legal, procurement, and executive leadership is vital. It ensures every angle of compliance is covered, streamlines evaluation steps, and minimizes the risk of missing critical criteria. GAN Integrity recommends mapping out business challenges before drafting vendor questions, focusing RFP criteria on must-have, regulatory-driven requirements and leaving room for scalability.

Responsive RFP workflows, stakeholder-reviewed cycles, and accurate content management must be the backbone of your process. An RFP, when treated as a strategic compliance lever, enables teams to protect against liability, strengthen culture, and reduce implementation time.

Considering Third-Party Risk Management (TPRM) in Your RFP

Effective compliance solutions must address third-party risks head-on, ensuring continuous vigilance and scalability as vendor ecosystems grow. Third-party risk management (TPRM) requirements should be a dedicated section in every compliance software RFP.

Vendor Due Diligence and Onboarding

Robust TPRM software centralizes due diligence activities, from initial risk assessments to ongoing credential verification. Look for platforms offering customizable questionnaires, auto-save features, credential authentication, and workflow-driven approvals. Leading solutions support mass data transfers and APIs for onboarding at scale.

Key RFP Questions:

• Can the system automate onboarding workflows for new third parties?
• What due diligence processes are integrated (risk scoring, screening, document collection)?
• How are credentials and onboarding documents managed and stored securely?
• Does the platform support external user portals for vendor input?

Ongoing Monitoring and Auditing

Continuous monitoring is a cornerstone of modern TPRM programs. Your RFP should address modules for automated audit trails, risk scoring updates, and regular vendor status reviews. Dashboards should offer clear visualizations of current risks and enable configuration to support evolving regulatory needs.

Key RFP Questions:

• Does your solution support automated status updates for vendors?
• Is risk scoring dynamic, based on real-time activity and external data feeds?
• Can the platform initiate corrective actions automatically when risk thresholds are breached?
• Is there a dedicated dashboard for ongoing auditing and remediation tracking?

Fourth-Party Risk

Organizations must account for risks from vendors' vendors- fourth parties. The right compliance solution will manage this wider risk landscape, offering extended mapping and controls.

Key RFP Questions:

• Does the system allow mapping relationships past third parties (to include fourth parties)?
• Are notifications triggered when risks in fourth-party networks emerge?
• Can due diligence be extended and documented for indirect vendor networks?

Addressing Conflicts of Interest (COI) in Your RFP

Conflicts of Interest are a perennial risk for large organizations and must be explicitly addressed in any compliance software RFP. The platform should empower teams to identify, disclose, and resolve COIs, maintaining operational integrity and trust.

Key RFP Questions:

• Does the platform support anonymous self-disclosures and cross-departmental reporting?
• Are case managers notified of potential or logged COIs immediately?
• Can COI cases be categorized and tracked over time for remediation and audit purposes?
• Does your solution support integration with HR and legal modules to automate disclosure reviews?
• Are interview templates and guided workflows embedded to ensure consistent documentation?

Best-in-class COI software also offers customizable reporting, allowing organizations to generate metrics and visualize hot spots for further training and remediation.

Including ESG Criteria in Your RFP

With the rise of sustainability and corporate responsibility, ESG (Environmental, Social, and Governance) data collection and reporting are no longer optional. The right compliance software should seamlessly centralize ESG compliance data, align with global frameworks, and facilitate robust reporting.

Data Collection and Centralization

The solution must support bulk data imports, multi-format evidence uploads, and mobile-enabled portals for global operations.

Key RFP Questions:

• How is ESG data sourced and centralized?
• What evidence formats and digital records are supported?
• Is the platform mobile-optimized for remote workforces?

Framework and Regulatory Alignment

ESG reporting frameworks such as CSDDD, GRI, SASB, and SEC’s climate disclosure rules require rigorous controls. The RFP should specify required frameworks to ensure vendor alignment.

Key RFP Questions:

• Can the platform be configured for relevant ESG frameworks?
• How often are regulatory updates incorporated?
• Are dashboards updated to reflect changing requirements?

Materiality Assessments and Reporting

Assessing what’s “material” is pivotal to ESG. The solution should assist with stakeholder surveys, gap analysis, and reporting.

Key RFP Questions:

• Can the system support materiality surveys and stakeholder engagement?
• Are automated gap analysis and recommendations available?
• Does the reporting suite provide comparative and trend analysis for ESG data?

How to Use AI Responsibly in Your Compliance RFP

AI is transforming compliance, especially when deployed to streamline investigations, automate document analysis, and drive risk insights. However, responsible use is key.

Your compliance RFP should query vendors on their data-handling policies, explainability, privacy controls, and AI governance framework. GAN Integrity and other compliance leaders recommend looking for:

• Explainable AI models, with audit trails and transparent decision criteria.
• GDPR and privacy regulation adherence for all AI data processing.
• No use of personal or compliance data for vendor training or external analytics.

Key RFP Questions:

• Is all data processed by AI models securely stored and encrypted?
• Are algorithm decisions logged and reviewable?
• What controls are in place to prevent AI bias or error?
• Can AI-driven modules be customized or disabled depending on regulatory requirements?

AI Prompt Example: Building an RFP Step-by-Step

• Define core business needs. Capture key challenges and use cases (TPRM, COI, ESG, incident management).
• List must-have functional requirements. Security, audit logs, reporting, user roles, integrations, data migration.
• Identify regulatory drivers. Incorporate global privacy rules, whistleblower protection, and reporting mandates.
• Request vendor documentation. Insist on detailed user guides, implementation timelines, training resources, and SLAs.
• Include tables for vendor comparison. Create clear input fields for each criterion to ensure objective scoring.

Closing Thoughts

Complex risks demand tailored compliance solutions, and the RFP is the single best tool to safeguard your organization’s needs, reputation, and growth. Grounded in a robust structure and comprehensive criteria, your RFP can ensure solutions deliver on TPRM, COI, ESG, and responsible AI use, positioning your compliance team for success amid regulatory upheaval.

Vendor partnership, implementation agility, and data centralization are no longer nice-to-haves, they’re preconditions for effectiveness. Pinnacle compliance programs start with a smart, well-prepared RFP.

To learn more about how you can future-proof your compliance program, explore GAN Integrity's unified compliance solutions, built to help organizations manage complexity, automate risk oversight, and drive ethical business transformation with ease.