How Vaultastic v4.6 integrates with Ideolve, a team collaboration platform, to ensure easy and effective audit and compliance management for a business.
For any modern-day business, regular proactive audits of email communication are crucial for mitigating conduct, reputational, and financial risks.
Organizations need to manage the risk related to information leakage and ensure regulatory compliance about supervision and reporting of email communications:
To ensure compliance, organizations often need the help of external experts, auditors, and enforcement agencies to review potential policy violations and decide the course of action.
Challenges with traditional audit and compliance management processes
Traditional methods of preserving email data often fragment the information and make it highly challenging to find information easily, accurately, and quickly.
A central, consolidated repository of operational and historical email data, with powerful ediscovery tools, can mitigate this challenge almost entirely.
However, once an internal auditor finds a potential breach/violation, how can this information be shared with external auditors, law enforcement agencies, or other members of the compliance teams while maintaining privacy and confidentiality of the information?
Traditional review methods often result in copies of the data sent to these experts over email, leading to loss of control and potential information leakage.
And leads to inefficiencies in discussing the breach over multiple email threads or chat conversations, with no central record of the outcome & process.
Vaultastic 4.6 integrates Ideolve, a team collaboration platform, to smoothen & secure the audit and compliance process.
Periodically or on-demand, the internal auditor’s responsibility is to scan for potential violations within the email archive and involve legal or compliance experts to review and resolve these breaches:
Detect (potential) breaches
The internal auditor defines and saves searches in Vaultastic that look for emails indicating a (potential) compliance violation.
E.g., Create the query using mail attributes, keywords, and a date range and give the saved search a relatable name, e.g., “breaches 1-7 Jan 2022”, “information leakage,” tone violations.”
And executes these queries periodically or on-demand to scan for policy breaches.
Flag emails with potential violations
The internal auditor can flag objectionable emails to mark them for future recall. Flagging content in Vaultastic initiates the Ideolve connector to allow deeper analysis and review on these potential violations.
The internal auditor can also restrict copying and download action on the flagged content to ensure privacy and confidentiality
Classify the flagged email to organize the breaching content.
The Ideolve platform lets you tag the content (email) as per your business’s context to help you organize the review process and resolutions.
Share the flagged email with external auditors and internal team members
Without making copies of the data, you can share the content with previously onboarded compliance team members (including external auditors and internal team members).
Discuss, analyze and decide the next course of action
Ideolve supports easy tools for the stakeholders to post their views on the flagged email and have discussions to arrive at a decision.
This discussion also gets recorded with the flagged content as a lifetime record for future reference and learning.
Resolve the breach
The internal auditor can now review the compliance team members’ comments and decide on a resolution to conclude the breach review process.
Reduced risk, more productivity with this approach
1. Single pane of glass to manage the compliance process
2. Reduced risk since the data can never get copied or downloaded from Ideolve.
3. Easier and speedier resolution of issues via an integrated process
4. Permanent record of all breaches and the discussions leading up to the resolution, with timelines.