Integration with Mitratech’s existing products creates an end-to-end set of solutions, empowering compliance teams to become a hub of service and excellence for the entire enterprise.
AUSTIN, TX – January 29, 2020 – Mitratech, a leading provider of legal and compliance software, today announced the acquisition of ClusterSeven Ltd. By offering their products alongside its existing governance, risk, and compliance solutions, Mitratech will provide the first-ever end-to-end solutions suite specifically aimed at elevating companies’ data privacy and information governance efforts.
Safeguarding data privacy and satisfying information governance-related regulatory requirements are essential to business survival and success today. With Mitratech’s Enterprise Compliance Suite, GRC professionals will be empowered to become a center of service and excellence for the entire enterprise by meeting the obligations imposed by a growing universe of regulations including SOX, MIFID II, GDPR, Volker and more.
By adding solutions from ClusterSeven to a proven family of products that includes CMO, PolicyHub, DataStore, and TAP Workflow Automation, Mitratech now supplies a full spectrum of the tools needed to ensure data privacy, empowering information governance, satisfy regulatory oversight, and gain competitive advantage.
ClusterSeven, based in London, U.K., provides a unique and innovative solution for discovering, managing and monitoring “Shadow IT” – the hidden, sensitive End User Computer (EUC) applications, spreadsheets, data assets and other applications that lie outside of IT’s control but that an organization relies upon. With ClusterSeven, users can efficiently identify, track, audit, inventory and manage EUCs to identify and mitigate risk using easy-to-use dashboards, regular reports, and exception alerts. All without affecting the agility EUCs can bring to the business or user productivity.
ClusterSeven serves customers in the capital markets, retail banking, asset management, hedge fund, insurance, energy, and pharmaceutical sectors, as well as audit firms.
The new suite of solutions will give compliance teams capabilities to manage and mitigate Information-based risk that extends from top-level information governance all the way down into everyday operations:
- GRC teams will be able to manage obligations under thousands of ever-changing regulations.
- Translate obligations quickly and easily into policies and procedures they can rapidly create, review, communicate, and capture attestation to.
- Get visibility into the hidden, sensitive applications, spreadsheets, links, data assets and more that exist across a business but are outside of IT control.
- Collate, manage and mine data and business-critical content via a secure “single source of truth” central repository.
- Embed policy and information governance best practices in operational processes throughout the enterprise via workflow automation.
“With this acquisition, we’re able to offer our clients the most comprehensive and truly end-to-end suite of solutions available today in the risk and compliance management segment,” said Mike Williams, CEO of Mitratech. “No other provider has this breadth and depth of a product portfolio. And no one else has a team behind its products that’s anywhere near as experienced, capable, and committed to client success as the one we’ve assembled.”
Henry Umney, CEO of ClusterSeven, explained that “this is a case of the right alignment at the right time to meet the precise demands of the market. We’ve seen how regulatory complexities and the need to manage and mitigate financial, operational, regulatory and reputational risk by applying governance to a firm’s EUCs and wider Shadow IT estate to maintain data integrity are driving companies to demand full-breadth technology offerings. Adding ClusterSeven to Mitratech’s Enterprise Compliance Suite (ECS) range of solutions addresses that very real and pressing need.”
Henry Umney will be a featured speaker and panelist at the 2020 GFMI 15th Edition Model Risk conference workshop in San Francisco, sponsored by ClusterSeven. This workshop will evaluate model risk management and governance strategies that incorporate data, machine learning and AI in finance. Henry and his team will be at the event to discuss how their expertise and solutions can help address these challenges and achieve best practice in model risk management quickly, and at a lower cost than many would expect.
Mitratech is a proven global technology partner for corporate legal, risk, and compliance professionals, offering a proven portfolio of end-to-end solutions that spread operational best practices throughout the enterprise, standardizing processes and accelerating time-to-value. That helps legal and GRC teams rise to the challenge of serving the evolving needs of the modern, dynamic enterprise. For more info, visit mitratech.com.