Formalize

About Formalize

Formalize is a company that specializes in automating compliance processes and optimizing supplier audits for businesses. The platform is designed to serve companies that need to adhere to various regulatory standards such as GDPR, NIS2, ISO27001, and SOC2. Formalize operates in the compliance and governance market, providing a software-as-a-service (SaaS) solution that simplifies and streamlines complex compliance tasks. The business model is subscription-based, offering a free 14-day trial period without requiring credit card information. Revenue is generated through subscription fees for ongoing access to the platform's features and services.

The platform is highly configurable, allowing users to continuously improve and update their automation processes. It includes a Trust Center for documenting and sharing compliance-related work, such as privacy policies and codes of conduct, in a branded environment. Users can invite both internal and external stakeholders, such as law firms or consultants, to access the system securely.

Formalize also provides robust customer support, including an onboarding meeting to assist with implementation. The platform is user-friendly, making it accessible even without extensive support. Key features include the ability to track and manage the implementation of various compliance standards, streamline governance, and create a structured data base that can be easily exported and filtered.