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ComplianceCompliance
Satisfy increasingly strict compliance requirements
Today’s complex enterprises are faced with an increasingly strict compliance regime.
For example, under Sarbannes-Oxley, senior management is required to certify and take responsibility for the validity of financial statements. This requires matching a series of financial records and transactions, potentially across multiple business lines, including contracts, purchase orders, invoices, payments, and other records. Inconsistencies in how the same customer or partner might be recorded in the dozens of different financial databases can make it impossible to ensure complete accounting, exposing management to personal liability.
Other compliance requirements, such as "do not call," the USA PATRIOT Act, Gramm-Leach-Bliley and others, require matching customers to various watch lists. Customers can be individuals or companies. The lists themselves contain errors and inconsistencies, and the subjects of these lists will often introduce inconsistencies and variations into new transactions in order to avoid detection. Yet if your company fails to detect a match, you may be subject to a range of penalties.
At the same time as these requirements are growing, other restrictions are making compliance harder: e.g. privacy regulations that make it illegal to use a SSN for lookup.
With Netrics, you can enhance your existing business process software to better meet growing compliance requirements:
- Find - customer names - people or institutions - with high reliability on the first query, despite inconsistencies or errors in either the source or target data
- Clean - data, eliminating duplicates in existing databases, and virtually eliminating the creation of new duplicates
- Link - data accurately and comprehensively while nearly eliminating the need for manual review and oversight. Find all of the records for a given institution, individual, or household and link them together despite inconsistencies that fool conventional software.
