IST Discover-E White Paper:

How eDiscovery Fits Into Corporate Compliance

“Legal governance, risk and compliance (GRC) is a specialized form of GRC for corporate compliance officers, corporate counsels, corporate secretaries, and other legal professionals who are involved directly in compliance reporting to auditors and regulators, corporate social responsibility programs, or the enterprise risk management program. It provides the ability to track, remediate, manage and report compliance issues as well as legal and regulatory risks.”

Despite rising data volumes and daily proliferation of new information sources, when it comes to corporate compliance, the right information can be akin to life support.

Today corporations are being confronted with much greater Electronically Stored Information (ESI) volumes and related costs; and therefore, much greater risks in the form of real consequences such as sanctions if regulatory or legal requirements are not met.

Equally, legal counsel along with chief compliance and risk officers are faced with decreasing tolerance of regulators and courts for parties unable to produce relevant documents because of sub-par information management processes.

These very real issues are driving corporations to find smarter and more effective ways to monitor Governance, Risk and Compliance (GRC) programs.

In efforts to comprehensively capture and control information relevant to the business and speed GRC initiatives, corporations are centralizing business processes and policies for managing information. Making use of Master Data Management (MDM) products like those from Informatica, Adaptive, Alation, Collibra or Data3Sixty, GRC programs envelope the entire organization’s data in a single, searchable format.

By applying the linear, centralized and more discoverable rules on data creation and management provided by MDM tools, corporations can be more actively engaged in the control of and defense of the business.

When faced with an audit or investigation, reforms of their records management and information management processes provide a better grasp on the ESI in their systems.

Once centralized, the most effective way to mitigate downstream risks is through data analytics. The now massive data store must be able to be searched. Many MDM tools already have analytics built into their systems, but making use of advanced tools like Relativity in concert with built-in MDM analytics provides greater insight for internal governance, compliance and risk inspections.

  • One driver is cost - it is simply more expensive if one scours multiple systems and repositories to find relevant information.
  • The other driver is time - if it takes you two weeks to find the information you need as opposed to 24 hours, both your risk and cost have increased.
  • The final driver, and most relevant in today’s data environments, is simplicity - integration with downstream eDiscovery processes help to organize and make sense of this ESI making the entire discovery process faster, cheaper and generally less risky to respond to discovery requests, regulatory queries and internal investigations.

As eDiscovery is increasingly viewed through the lens of governance, risk management and compliance, compatibility with corporate GRC programs is increasingly important.  eDiscovery partners like IST Discover-E create a single solution to use in concert with information management and enterprise data sources, especially file systems, email servers and archives.

IST Discover-E can provide the same immense computing power, systems, processes and teams to GRC programs as well.  Via either 100% cloud-based systems or all-inclusive, dedicated managed services models, IST Discover-E can customize the solution to best fit any unique data analysis and review challenge.

IST Discover-E also provides a business dashboard with real-time, data-driven insight into eDiscovery costs, trends and efficiencies. Integrating eDiscovery with information management protocols will save significant costs and reduce risks associated with litigation exposure, compliance and internal investigations as a standardized, repeatable and defensible processes are put into place.

At IST Discover-E, we have years of experience helping our clients with their eDiscovery needs along with full scale legal support management systems.  We are expert in creating and customizing eDiscovery processes that best fit our client’s needs and expectations.  Our model is uniquely transparent, easy to understand and effective in aiding our clients get the decision they want for their clients.

PREVIOUS

How eDiscovery Fits Into Corporate Compliance

DOWNLOAD

NEXT

Talent Acquisition Team

Innovative • Service • Technology • Passion

Contact