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Mitratech: Empower. Automate. Elevate.

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Browse these quick reads to get a glimpse into marketing insights and predictions from our corporate legal, risk, compliance, and human resources experts.

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Frequently Asked Questions

Mitratech Frequently Asked Questions

Enterprise Automation Software refers to a flexible, intuitive, no-code solution for business users and administrators across an organization. It’s process automation that’s proven in practice to help your departments see immediate ROI through automation —without straining your IT resources —and while enabling faster time-to-value and efficiency. In other words? Help them do more with less by adopting one of the easiest-to-use, fastest-ROI automation solutions available.

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ELM is the collective term for legal services delivered to an organization that includes matter management, e-billing, legal spend management, document management, reporting and analytics, and process automation. In recent years, ELM as a term has grown substantially and evolved into innovative “Legal Operations” functions within corporate legal departments, that serves as a critical pillar to an organization’s legal efficiency and collaboration internally as well as with outside counsel.

Enterprise compliance is an integrated approach to compliance that spans multiple business units and geographies within an organization. Built from the top down, it is enabled by and maintains their people, processes, and technology. An effective compliance management program focuses on the risks faced by an organization. It may be based on multiple frameworks and aims to ensure organization-wide ethics are being followed and compliance risk is kept in check.

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GRC refers to an organization’s approach to these three practice areas. A company often integrates enterprise-wide systems and software to oversee and manage these functions. More and more, companies are looking to the technology sector to deliver on innovative and data-driven GRC tools to empower risk mitigation and protect organizations from critical threats as it relates to cyber security, IT risk, third-party/vendor risk management and more.

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It’s no longer enough to monitor and mitigate your internal, enterprise-wide risk. Half – or more – of the threats to your business can arise from your vendor network or the fourth parties they subcontract. Whether those risks involve noncompliance with your company policies or industry regulation, personal data protection, or financial risk that might impact your bottom line, a robust and automated vendor management software is a ‘must’ to help you understand and proactively address them.

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Policy management is vital to mitigating potential risk caused by the actions of employees. In order to mitigate risk and limit the possibility of damaging policy management failures, it’s vital that organizations pay careful attention to policy management best practices. From development strategies that prioritize centralization to automated workflows that take human error out of the equation, there are plenty of things that can be done to enhance policy management tools in ways that make a real difference to a business.

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Information governance is the way in which information is used and managed. It’s an important practice that seeks to limit the risks involved in the management of data and ensure compliance. Good information governance begins with an examination of how information is gathered and how data is kept, both digitally and on paper. Information governance also covers how this data is stored, and the ways in which a company intends to use the data. The sharing of data is also crucial, particularly with rules and regulations concerning the use of data becoming more robust.

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The California Consumer Privacy Act went into effect on January 1, 2020. It aims to protect consumer rights and drive stronger transparency and privacy protection when it comes to their personal information. Under this act, Californians have the right to know which personal data is collected, if it’s being shared, with whom it’s being shared, and how they can opt out of any sale of their data.

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