As technology advances, the ways in which compliance standards are structured are also changing for many businesses. Regulations require organizations to have ever-tighter management over their business communication, something cloud computing has been able to help with. Solutions have cropped up over the last few years for enterprises looking for ways to simplify their communications control and data security, particularly in the cloud.
eDiscovery is vital for businesses should they become embroiled in legal cases that require swift and accurate presentation of compiled business communication and data. Actiance addresses this need for the simplification of enterprise communication as a provider of compliance, security, archiving and eDiscovery solutions. With the company’s product, dubbed Vantage Cloud, businesses can mitigate risk by controlling, monitoring and capturing communications in applications that span brand and provider including Microsoft Office 365, Jive, Salesforce Chatter and public instant messaging channels Google Talk, Yahoo Messenger and AOL Instant Messenger.
Reduced risk expenditure is the overall return-on-investment factor that Van notes is specifically targeted by Vantage Cloud. Regulatory requirements such as record-keeping and communications data are met using the service, including information on social business and collaborative platforms. Vann provides an example of what happens when companies fail to meet these requirements:
“Organizations that fail to meet these requirements can be sanctioned. In a high profile case, FINRA fined Barclays $3.75 million for failing to properly supervise and retain approximately 3.3 million instant messages required under regulations. Vantage Cloud guards against this type of risk.”