The constantly changing face of regulation and legislation around the world creates challenges for global corporations seeking to ensure rigorous compliance and good corporate governance throughout their organizational infrastructure.
Top tier organizations that practice effective corporate governance are implementing comprehensive solutions that streamline manual processes and bring together best-of-breed solutions to meet the most pressing needs involved in maintaining the corporate record. HBR Consulting’s 2018 Law Department Survey found that law departments are planning implementations of next generation technologies to increase productivity in order to meet the growing demands around regulatory compliance.
Highly regulated industries are also turning to technology to gain agility, facilitate innovation and cope with growing regulatory pressures. Along with these pressures comes rising costs that are expected to double in the next five years. The combination of a state-of-the-art entity management system with registered agent and corporate secretary services provides a single integrated solution to drive efficiency, improve compliance and effectively mitigate risk.
Our Entities solution is the first choice solution for global companies with entities across multiple jurisdictions. With record levels of investment in our entity management solution, we are driving forward developments to better equip our clients to manage the growing regulatory burden. CSC’s suite of registered agent and corporate secretary services offers time-sensitive attention to business critical documents and compliance requirements.
For existing and future clients, this single integrated solution for best-in-class services and technology will help in three ways:
- Faster population of validated data and documents;
- Improved data accuracy with ongoing synchronizations; and
- Increased operational efficiency via a single solution for best-in-class services and technology.
“This partnership between Diligent Entities and CSC’s registered agent services has the potential to be game changing,” says Teresa Kennedy, legal entity manager, World Fuel Services. “Organizations need to be more efficient while increasing compliance and reducing risk. This will no doubt make us better when it comes to keeping up our corporate secretarial data and documentation, setting up new registrations, managing renewals and handling withdrawals in our U.S. jurisdictions.”
Faster population of validated data and documents
When implementing new solutions — especially technological-based platforms — the time to value realization usually ends up being much longer than anticipated. In the case of entity management, registered agent and corporate secretarial services, a lack of integration slows the implementation timeline. This inhibits efficiency, as compliance and legal personnel must juggle the old systems until the new system is up and running.
In the absence of integration, a new system will likely manual require data input or batch transfers of data. These issues can undermine staff trust in the new system, which can lead to a lower level of usage of the new system and reliance on off-system spreadsheets.
The integrated approach offered by this combination of Entities and CSC means that clients can validate data and documents before setting up the new system, ensuring data accuracy and creating a trusted single source of data truth. Once the system is up and running, the correct and up-to-date data populates into the new system quickly, assuring legal and compliance staff regarding data governance and validity.
Improved data accuracy
To carry out compliance and legal functions, you must have data that is accurate and up-to-date. Because Entities and CSC offer ongoing data synchronization, this ensures that all your data and documents are not only cleaner and more accurate, but also completely up-to-date. The alternative manual process in getting the fields populated and kept up to date, is both time-consuming and prone to error.
With ongoing synchronization, data remains reliable and trustworthy. The integrated data feed will save many legal department personnel hours and ensure that duplication of data and inaccuracies are a thing of the past. Merging the data within your global entity and registered agent system paves the way for creation of a single source of data truth that your organization and its employees can rely on.
Increased operational efficiency
Many existing clients use a registered agent service already. By partnering with the gold standard registered agent service, we are pleased to offer a best-in-class services and technology.
Manual data entry, manual reconciliation and manual errors are not a robust solution for the rapidly evolving economic and geopolitical landscape of tax cuts, tariffs and rising inflation that requires a focused organizational plan and response. That occurs best when operational efficiency is at its highest, not when your staff is grappling with yet another data problem.
Partnering with Entities and CSC significantly accelerates the value realization curve. This collaboration provides completely integrated data, ensuring a higher level of data accuracy than what occurs in a shared system. Rather than wasting time with manual data entry and dealing with resulting manual data reconciliation, your paralegals and legal staff members can efficiently and effectively deal with all aspects of entity management in one, integrated system.
Rely on Entities + CSC
In today’s complex regulatory landscape, legal and compliance professionals need a combination of global entity management technology and services to drive efficiency, improve compliance, and effectively mitigate risk. By bringing together Diligent Entities software and CSC Registered Agent services, this newly formed alliance responds to this demand with a unified offering.
“We strive to provide solutions that streamline efficiency and increase compliance while mitigating risk and exposure,” said Liam Healy, senior vice president and managing director for Diligent Entities. “CSC is the gold standard for Registered Agent services and this partnership presents a great opportunity to offer our customers an integrated solution with unparalleled breadth and value.”
CSC shares Entities’ confidence in the value of this combined offering. “CSC has been the provider of choice for leading Fortune 500 companies for secure, reliable, trustworthy entity services for more than 115 years,” said Jennifer Kenton, senior vice president of global sales for CSC. “We’re excited about this partnership with Diligent because we’ll be able to offer their clients the option to seamlessly integrate critical entity management data into Diligent Entities while also providing them with the award-winning customer services we’re known for.”
To learn more about how Entities and CSC’s combination can work for you, contact a Entities representative today.