Our Top Compliance Management Takeaways from 2021
Regulations are constantly evolving with new needs and requirements.
According to Skillcast, Over £300m FCA fines were issued in December of 2021 alone, doubling the yearly total to over half a billion fines. The need for support to ensure alignment with regulators is greater than ever, which inspired new updates and brought upon exciting changes for Red Marker to help clients proactively navigate compliance risk.
Red Marker is proud to provide compliance management software that works with a variety of applications to deliver improved workflows and streamline the legal review process. This automated compliance management solution offers quick communication, high accuracy, and lower cost of use compared to traditional legal review methods. Our team at Red Marker puts in our best efforts to make the compliance process easier.
Here are some of our accomplishments and changes from this past year, and what we learned from them to continue leading the way in AI-powered compliance support.
1: New Tool Integrations
Red Marker expanded our integrations to six new client tools to make it easier to identify compliance risk as you work. These include:
Our clients in a variety of sectors change the platforms they use over time as their companies grow in the digital space. It’s important to our team to make sure we can help you stay on top of compliance management procedures for content across the board, no matter what platform you use.
Compliance Takeaway: Red Marker’s commitment to supporting integrations through its API is unwavering and will produce even greater compliance lifecycle efficiencies for our clients throughout 2022.
2: Enhanced Focus on Client Security
Cybercrime and other types of remote threats are becoming increasingly frequent as technology advances. In turn, one of Red Marker’s top priorities is to maintain the highest level of client security.
To demonstrate this value, we obtained the ISO 27001 certification in 2021.
The ISO 27001 certification establishes that Red Marker invests in the best tools and systems to protect the data we work with for our clients and ourselves.
Compliance Takeaway: Red Marker is dedicated to staying up to date on the most innovative practices that keep our clients safe, especially in vulnerable cybersecurity situations.
3. Educational Tools for Businesses
Offering an effective compliance management solution to businesses is not the only goal of Red Marker. We care about making sure our clients have the resources they need to understand the layers of how compliance affects their companies.
This year, Red Marker launched multiple educational guides that our clients can use to evaluate their current processes and scale their businesses with the help of automated review.
The takeaway for compliance managers? Continue exploring educational resources such as these resources:
4: Global Client and Workforce Expansion
As automated legal review becomes more widely recognized as an efficient solution, Red Marker plans to stay at the forefront of the industry. This is why we expanded our global reach by establishing new data centers across the world.
This year, we have been able to support even more clients in the US, UK, and EMEA, with new client success managers and new business development managers in North America and the UK.
We signed our first client in South Africa, broadening our partnerships from Australia, the United States, and the United Kingdom, and also signed a five-year contract with our first global bank.
Compliance Takeaway: The need for fast and effective compliance management is expanding. Red Marker aligns itself with this necessity, developing more client support systems in relevant geographic and industrial areas.
Spearheading Compliance Innovation into 2022
Marketing and advertising practices will continue to adjust to meet new regulatory compliance requirements in the coming year. As a pillar for innovation and reliable compliance accuracy, Red Marker will keep utilizing the power of AI technology to deliver quick and positive results and streamline communication for our clients by managing content and legal review. To make it even easier, we launched enterprise pricing this year, for clients to plan and budget more efficiently for their future compliance needs.
Among the above successes, our team is grateful for the support of our employees, clients, and partners across our sectors and the globe.
Whether you are in financial services, insurance, healthcare or pharmaceuticals, we can help. Learn more about how Red Marker can help your business take control of your legal review process. For questions about some of our latest compliance capabilities, request a consultation today.
From the Red Marker team to you, Happy New Year.
