Is your firm prepared to meet Digital Communications Governance and Archiving (DCGA) demands?
A large amount of data is generated in almost any modern business communication with ever-increasing usage of Unified Communication and Collaboration tools like Microsoft Teams, Zoom, RingCentral, and Webex. In our latest Theta Lake survey report, we discovered:
- 65% of firms anticipate an increase in regulatory expectations for monitoring communications
- Nearly half of those who anticipate increased regulatory expectations believe regulators will be most concerned about the quality of supervision and oversight
- 58% of respondents say that “record-keeping, reconciliation, and reporting challenges” are the leading reason for dissatisfaction with communications compliance solutions
The old way of archiving, which Gartner previously termed Enterprise Information Archiving (EIA) has been insufficient in keeping up with capturing comprehensive data due to its email-centric architecture which doesn’t lend itself to audio and visual communications like video and whiteboards, all integral parts of UCC. This has created a big challenge for IT compliance leaders who are charged with protecting their firms from regulatory and reputational harm as well as data security threats. As communications compliance moves from Gartner’s old Enterprise Information Archiving to the new DCGA (Digital Communications Governance and Archiving), there are a number of data problems that need to be addressed.
Ensuring that you are capturing all of the data from any conversation on approved channels is clearly a priority for compliance requirements. However, regulators have also made it clear that off-channel policies are not good enough, so having future-proof solutions available from your compliance vendor has become critical. This includes having a vendor that can provide cloud-based solutions completely and without lags for voice and text-based comms in addition to visual data capture (GIFs with text, reactions, emojis etc). Theta Lake provides this in addition to unique and important compliance features like reconciliation and configuration drift monitoring and alerting to ensure that your compliance solution is capturing data as intended.
But capturing data properly does not just affect books and records regulatory requirements. It impacts all downstream use cases like search, supervision, surveillance and eDiscovery. Compliance management and IT, as well as legal teams, depend on comprehensive, accurate data so they can effectively and efficiently execute supervision surveillance, audit trails, and case management activities. Ensuring compliance with industry regulations as well as the ability to spot compliance violations quickly starts with fixing the data problem.
Summary of the data problem from EIA to DCGA:
Fixing the data problem starts with Capture. If you have a proper Capture infrastructure in place, not only will that solve the conversation missed/lag/delayed/incomplete issues, but all other downstream use cases will be more effective, reliable and produce better outcomes for your firm.
How Theta Lake can help fix the data problem:
- More Coverage of UCC tools, features, and modalities. Theta Lake’s unique approach to ensuring that you can capture all of the data from conversations (not just eComms or voice) with in-sync delivery will solve for data completeness.
- Better Reconciliation tools, reporting, and evidence. Reconciliation is absolutely critical to ensuring that your firm is capturing data as expected, and it’s a priority for regulators. Theta Lake’s easy-to-use and flexible reconciliation can be quickly viewed on our Unified Capture dashboard with reporting available with one click.
- Configuration Drift, Health & Controls Monitoring of capture and tools. Theta Lake’s Home Tab in the Unified Capture UI shows the captured data metrics, where the data is routed, and also provides easy-to-use health checks to ensure there are no issues with configuration or settings changes that will disrupt data capture. In addition, users can monitor configuration drift to ensure no changes to the UCC platform settings go unnoticed, and your firm remains compliant.
- Repeatability & Scale for any tools or communications. Theta Lake has dedicated teams for capture integrations, ensuring timely, complete and quality capture happens. What’s more, Theta Lake can route your data to any preferred location, whether that’s an existing archive to multiple storage locations, or to your firm’s desired location. This means the data is truly yours to store where you see fit.
- Easier set up and maintenance. Unlike other firms, you can set up a channel integration in 4 consistent, easy steps.
All of this fixes the data problem that fixes archiving, search, discovery, supervision, surveillance and improves compliance outcomes.
Learn more
- See a demo
- Read the White Paper: The Data Problem with Compliance Archiving
- Learn More About Theta Lake Unified Capture
