Theta Lake is delighted to unveil its 2023/24 Digital Communications Governance, Compliance and Security Report. In its fifth year, this unique industry report provides an unparalleled insight into not only how modern unified communication tools are being used in practice and the challenges faced by firms in a unified communication and collaboration (UCC) powered work environment, but also current good and better approaches to managing compliance and security challenges.
We are grateful to the more than 600 senior technology and compliance professionals who took part in the independently conducted research, without whom this comprehensive report would not be possible. These exclusive insights portray the voice of the industry, representing IT, Unified Communications and Compliance leaders across financial services in the U.S. and the UK, including 80% of the Globally Significantly Important Banks, the largest financial institutions in the world. Participants' own words, highlighting specific issues and findings have been shared with permission.
In an era defined by rapid advancements in the usage of UCC tools and an evolving regulatory landscape that has led to fines now totalling over $2.6bn for recordkeeping failures, the importance of digital communications governance cannot be overstated. Gartner’s newly coined market category, Digital Communications Governance (DCG), acknowledges the need for an updated approach to compliance and security for the UCC tools that make up the fabric of the workplace - and which will become a familiar element of financial services firms’ business plans.
In practice, the compliance burden that firms are currently dealing with, and the incompatibility of existing archiving and recording tools with UCC, is evident, with almost all (98%) of respondents reporting dissatisfaction with their existing archives and voice recording tools.
Related key trends in the findings highlight:
As with previous iterations of the report, the findings help organizations benchmark their own practices, experiences and expectations against the wider industry and to help identify any gaps or areas of potential exposure.
By benchmarking against more than 600 financial services peers, you can uncover valuable best practices for reducing your risk profile and compliantly unlocking the full productivity and ROI of UCC investments. If you’re an IT or UC stakeholder for platforms like Microsoft Teams, Webex, Zoom, RingCentral, and Asana or have communications compliance responsibilities, from recordkeeping through to review and supervision, then the must-read insights include:
How Theta Lake Can HelpBacked by the investment arms of Cisco, RingCentral, Salesforce, and Zoom, Theta Lake’s multi-award winning product suite provides patented compliance and security for modern collaboration platforms, utilizing hundreds of frictionless partner integrations including RingCentral, Webex by Cisco, Microsoft 365 and Teams, Slack, Zoom, Movius, Box, Mural, Asana and more. Theta Lake empowers organizations to safely, compliantly, and cost-effectively expand their use of unified communication platforms by enabling capture, compliant archives, and acting as an archive connector for existing archives of record across video, voice, and chat collaboration systems. Customers benefit from:
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