Introduction
In today’s dynamic business environment, companies are confronted with an expanding array of regulatory obligations they must adhere to, encompassing areas such as taxation, fraud prevention, anti-bribery measures, competition compliance, data privacy and protection, consumer safeguarding, quality assurance, as well as Health, Safety, and Environmental (HSE) standards, among others. Simultaneously, organizations must remain vigilant in their readiness to address audits and investigations meticulously crafted to ascertain their conformity with these stipulations.
These audit and investigative processes can be resource-intensive and time-consuming, and any inadequate or delayed response may result in substantial fines, reputational harm, and legal exposure. One of the most formidable challenges that organizations encounter when confronted with an audit or investigation lies in the identification of pertinent information that must be furnished. Often, this critical information is scattered throughout the organization, buried within a myriad of documents, emails, audio and video files, and various other records. Locating and organizing this information can be an arduous task, particularly when time is of the essence.
Challenges
- The inability to efficiently and effectively pinpoint relevant information can have severe repercussions for companies. Failure to provide auditors or investigators with the required data may lead to the conclusion that the organization is in breach of regulatory obligations, potentially resulting in financial penalties, damage to reputation, and legal liabilities. Additionally, when companies are unable to provide the necessary information, auditors or investigators may become suspicious of the organization’s intentions, prompting further scrutiny of other areas within the enterprise.
- This challenge is particularly acute for companies grappling with substantial volumes of unstructured data, including emails, documents, and even audio-video files, as part of their records. Managing and analyzing such unstructured data can be complex, making the timely identification of relevant information a daunting task.
Our Solution
To address these formidable challenges, we have developed an eDiscovery solution built upon our cutting-edge content services platform.
We have a leading-edge unstructured content efficiency, compliance, and automation platform that is tailored to various Governance Regulatory Compliance (GRC) use cases, including eDiscovery. Our solution harnesses advanced technologies, including OCR (Optical Character Recognition), speech-to-text conversion, artificial intelligence, and machine learning to swiftly and accurately identify pertinent data across an organization’s records.
Our solution empowers organizations to respond to regulatory requests more comprehensively, precisely, and cost-effectively by:
- Streamlining the consolidation of company records from diverse locations, systems, and geographical regions.
- Standardizing data models for various file types and formats while categorizing documents.
- Employing AI-based capabilities for the extraction of relevant content and offering advanced search functionality that rapidly locates pertinent information, yielding insightful findings.
- Facilitating secure collaboration with internal teams and authorized external parties such as lawyers, advisors, and auditors.
- Automating labor-intensive, document-centric tasks.
With our GRC solution, leading global organizations across diverse industries can efficiently manage the collection, storage, maintenance, and disposal of compliance-mandated records, enabling them to respond promptly and effectively to audits and investigations, thus reducing the risk of financial penalties, reputational damage, and legal liabilities. Moreover, by expediting the identification of pertinent data, our solution enables companies to respond to requests more expeditiously, reducing the time and resources needed to complete audits or investigations.
Benefits for our customers
- Efficiently and effectively identify relevant information in response to audits and investigations, mitigating the risk of financial penalties, reputational damage, and legal exposure.
- Streamline the consolidation of company records from various locations, systems, and geographical areas, reducing the costs associated with centralized corporate record management.
- Automate time-consuming document-centric tasks, freeing up valuable time for more critical activities.
- Enhance overall compliance management by maintaining and disposing of compliance-mandated records in an organized and structured manner.
- Foster secure collaboration with internal teams and authorized external parties, reducing the time and resources required for completing audits, investigations, and responding to regulatory requests more comprehensively, accurately, and cost-effectively.
- Classify documents and standardize data models for diverse file types and formats, leverage AI-based capabilities for content extraction, and utilize advanced search functions for swift identification of relevant information, thereby enhancing the productivity and efficiency of information workers engaged in compliance maintenance, audits, investigations, both within the organization and among contracted staff.