Submitter
Rob Hellewell, Vice President, Data Analytics, and Karl Sobylak, Senior Director, Data Analytics
Company
Xerox Legal Business Services
Industry
Legal Services
Business Challenge
Each year, corporations spend billions of dollars on regulatory fines, legal fees and other compliance-related costs. Many of these expenses stem from hidden problems lurking in email and other unstructured data sources. In many cases, these problems, which include product defects, fraud, bribery, improper sales practices, corruption and other illegal activities, could have been prevented and/or detected at a much earlier stage. Additionally, the explosive growth of email and other corporate data, combined with more aggressive enforcement by government regulators, has significantly raised the stakes for legal and compliance departments.
Analytics Solution
Xerox empowers companies to detect hidden compliance risks and avoid excessive legal costs. It builds advanced predictive/early detection algorithms powered by analysis of prior compliance and legal databases, reflecting billions of attorney and expert decisions.
Xerox maintains petabytes of data on behalf of its banking, manufacturing, pharmaceutical, defense, medical device, technology and other corporate clients. This data includes thousands of individual databases reflecting over 20 billion attorney and compliance expert determinations. These cases span a wide range of subjects, including mortgage fraud, product liability, white collar crime, antitrust and competition, FCPA, intellectual property, complex litigation, export control, employment law and securities regulation.
The company’s technology, including Xerox’s proprietary Analytics Hub, consolidates data hosted across corporate technology platforms. Critical insights are extracted from emails, voicemails and instant messages, employee collaboration platforms and CRM systems. Xerox applies a variety of custom algorithms and techniques, including advanced machine learning, text analytics, natural language processing, sentiment analysis, audio analytics and anomaly detection. Features used for modeling incorporate text, metadata, prior expert and attorney determinations and additional engineered features. Xerox leverages a worldwide team of data scientists, technologists and other experts.
Impact
Xerox’s solutions enable corporations to make realistic risk assessments and prevent reputational risk, excessive legal spend and regulatory fines.