What do human resources teams, internal audit teams, investigators and regulators have in common?
When an employee makes an allegation against a company, the HR team often needs to trawl through troves of cluttered archives to find relevant emails.
When an organization receives regulatory requests for information, the internal audit team has to comb through sizable data stores to identify and review the pertinent details.
In the event of litigation, an organization’s legal department will also find itself with the pressing need to secure particular pieces of evidence kept in large, unstructured databases. In each instance, there is a strategic advantage to finding the data as soon as possible.
What’s striking is that, although each department uses different terminology, their requirements have a lot of similarities. HR, legal and auditors need a quick, accurate way to find specific information amid vast unstructured data sets, to avoid being fined or facing legal damages.
Nuix can help. Our software lets you process unstructured data kept in complex storage containers to create an index that’s fully functional, easy to use, and lets you account for every piece of your data. At Nuix, we call this a “living index.”
With all of your data pre-processed, pre-culled and ready for search, eDiscovery and regulatory requests are much easier to deal with. Moreover, the powerful, patented Nuix Engine can process and structure data faster than any other technology on the planet, which is helpful when you need to locate certain pieces of information very quickly.
Right now you may be wondering what on earth your internal teams have in common with external forces of nature such as regulators and investigators. Ah yes, well spotted.
You may not know it, but most regulatory bodies and many litigation service providers worldwide also use Nuix to find information hidden in large, complex collections of unstructured data. This lends an interesting additional benefit to using Nuix.
When the regulator calls, make sure you can respond quickly and accurately. Photo: John M
Recently, Nuix gained a major UK bank as a client. The bank decided to invest in Nuix eDiscovery to cope with large, frequent and detailed regulatory requests. Our software reduced the bank’s average response time from weeks to hours.
Once the regulator—also using Nuix—noticed a pattern of diminished response times, it reduced the scale of its requests for information. It now only asks the bank intermittently for small, pointed pieces of data, as it knows how quickly and accurately it can expect to receive a response.
With the help of our software, the bank not only improved its response times, but also lessened the regulatory scrutiny it was subject to.
Nuix serves a simple purpose for enterprises: We help you find and remediate sensitive information before you have to deal with prosecutors’ damages or fines from regulators.
To find or be fined… which would you prefer?