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Compliance: Data Management is the Key Technology for Managing Risks and Compliance
Compliance. It’s not easy, doesn’t receive adequate focus, and can be costly. A recent survey by IPC found that compliance costs are going up. 80 percent of businesses say that their spending on compliance increased by 20 percent this year.
The following three technology areas are considered by businesses to be most important to help manage risk and compliance:
- Data Management (93 percent)
- Network resilience/Uptime (91 percent)
- Integration of communications records and archival (89 percent)
Lionel Grosclaude, Senior Vice President at IPC, said that “concerns over capturing, archiving and retrieving data for all regulated users and from many disparate communications sources have grown exponentially as has the need to utilize the data to drive meaningful insights. That’s why addressing the complete spectrum of financial markets’ company information governance challenges with expertise, counsel and technology solutions is essential for businesses to advance.”
