For organisations in regulated industries, managing voice and digital communications data isn’t just an operational requirement; it’s a compliance necessity.
Managing communications interactions is an increasingly complex task, with many regulated organisations housing millions, if not billions, of interaction recordings generated across multiple channels, including phone/voice, SMS, instant messaging, and email. These interactions often span numerous recording systems, creating a fragmented landscape that is difficult to manage and costly to maintain.
Ensuring that data is retained in accordance with legal and regulatory requirements can be burdensome and prone to error. Determining when data is no longer needed can be a complex task, leading to unnecessary storage costs and compliance risks.
Effective management and secure storage of this data is critical for regulatory compliance, as well as operational efficiency – it’s arguably a strategic imperative. Simplifying this process, however, is proving to be a nightmare for many because data migration is time-consuming, costly and creates data integrity risk.
Wordwatch offers a powerful solution that streamlines and enhances communications compliance strategy by unifying all interaction data into one single, secure platform.
Here are five reasons why Wordwatch can help to transform your compliance strategy:
- Simplified Compliance Management
Wordwatch helps organisations to consolidate their voice and digital interactions into a single system, reducing the operational burden and risk associated with managing multiple platforms, across different operating systems. Wordwatch provides instant access to the data, allowing for efficient investigations, audits, and compliance checks. The platform offers powerful search and analytics capabilities, enabling users to easily understand the data, when it was stored, and when it is no longer needed. Wordwatch also automates the process of maintaining and controlling legal and compliance holds on voice recordings, ensuring that the business is always in compliance with relevant regulations.
- Ensuring Data Integrity with a Verified Chain-of-Custody
With Wordwatch’s verified chain-of-custody, all records remain intact and authentic, ensuring compliance with stringent regulations. This chain-of-custody provides organisations with the robustness needed to meet audits and withstand regulatory scrutiny, which ultimately helps to reduce the risk of fines or penalties. Its scalable search capabilities also make locating specific interactions far quicker, enabling teams to respond swiftly to regulatory requests.
- Cost and Time Savings
According to recent research, 76% of regulated organisations currently use separate systems for voice and digital communications, creating inefficiencies and increasing operational costs. Wordwatch has been designed to resolve these issues: by consolidating data from multiple platforms, Wordwatch eliminates the costs associated with maintaining outdated systems, including hardware, software licenses, and training expenses. Customers streamlining legacy systems are achieving an average server reduction of 87%, which is helping deliver against green initiatives, reduce cost, and reduce risk.
- Future-Proofing Your Compliance Strategy
Wordwatch is designed to grow with your organisation, meaning it is a future-proofed solution that will evolve alongside regulatory requirements. Wordwatch’s innovative approach helps businesses reduce compliance risks, improve data access, and cut operational costs, transforming compliance from a challenge into a streamlined, strategic advantage.
- Enhanced Support for Adherence to New Regulations such as DORA
With the Digital Operational Resilience Act (DORA) coming into effect in January 2025, regulated organisations face new compliance demands for digital operational resilience, with huge implications on interaction data management and record-keeping. Wordwatch provides robust compliance archiving and monitoring that aligns with DORA’s fundamental IT risk, operational resilience, and third-party risk management requirements. By centralising data management, Wordwatch makes it easier to meet these standards, providing built-in safeguards to manage risk and improve response times.
Ultimately, regulatory expectations are higher than ever, and therefore Wordwatch provides the tools to not only meet compliance requirements but to do so in an extremely efficiently, secure and cost-effective way. Businesses can finally have the ability to confidently face regulatory audits without fear of fines for inadequate record keeping.
By consolidating and protecting interaction data, Wordwatch empowers businesses to focus on growth and innovation, safe in the knowledge that their compliance strategy is built to adapt and scale accordingly.