Legal Hold and Compliance/Data Monitoring
According to a recent report, 2.5 quintillion bytes of data are produced daily. It is estimated that 90% of the data in the world today has been created in just the past two years. Commonly referred to as “Big Data,” this data comes from everywhere: from e-mail and the “Internet of Things” (smart devices, wearable sensors) to posts to social media sites, digital pictures and videos, purchase transaction records, documents, and cell phone GPS signals, to name a few. These increasing volumes of information are commonly stored in unrelated silos in companies. Consolidating data and identifying date to execute legal holds or to monitor compliance concerns (internal policies or legal obligations) can be very time consuming and possibly expensive. Capital Novus has addressed this complex issue by working with large organizations over the years and has empowered clients with appropriate solutions nayaEdge and eZSuite.
A legal hold is a process used by organizations and legal teams to preserve all forms of relevant information when a litigation is reasonably anticipated. The Legal Hold module integrated in nayaEdge ensures efficient legal hold management for an organization. Users can use nayaEdge to capture data from various sources by creating an appropriate collection criterion that matches the scope of the information that would be responsive to the legal hold/upcoming litigation. Images or copies of the relevant data are collected, stored and made searchable within nayaEdge, so that responsive information is quickly exported for further review or assessment. By deploying nayaEdge, organizations can significantly mitigate the risk of possible legal sanctions through better, and defensible data capture by legal holds.
The robust Monitoring features in nayaEdge allow building complex business rules to filter and organize the content, and these thoughtful barriers ensure quite an insightful supervision of content to meet the regulatory and internal policy requirements. nayaEdge enables organizations to create their own customized compliance or monitoring rules based on their needs to meet the varying archival and document retention schedules at document level. This significantly helps organization to minimize risk, manage cumbersome regulatory compliance measures and prepare for internal investigations. Organizations are using nayaEdge to proactively mitigate various type of data risks in a defensible manner, and it has reduced their worries for litigation, and threat of sanctions and penalties in the event of non-compliance. The solution is minimizing burden on IT staff for handling data retrieval requests and thus adding to cost savings. In a nutshell, nayaEdge is promoting a culture of compliance among organizations, keeping them away from the risk of litigation and instead channelizing their resources into business growth.