Actiance Enables Social Media, Modern-day Communications Compliance
When Reed Hastings, Netflix CEO, announced the video streaming service had streamed its one-billionth hour, he made the announcement on Facebook. Not an uncommon move in today’s world of real-time access to information and social media. However, Hastings never gave the SEC (News - Alert) a heads up that Facebook would be a channel used to disclose material information, and caught attention because it could be potentially used to sway stock value. It ultimately was viewed as an honest mistake, and not a malicious move, but it set the precedent for all public companies.
This is an example of the considerations companies in the legal, financial, healthcare and other highly regulated industries face.
When Facebook was founded in 2004, the business value for organizations such as financial institutions, legal firms, healthcare organizations or energy and utilities companies was not immediately clear. Soon enough, however, these companies, as well as others across multiple industries, realized the benefits of using social media for marketing, sales, customer service and engagement. The problem is, many of these industries are highly regulated and required to meet certain compliance standards. The opportunity was there for someone to help these companies with social media monitoring, capturing and compliance, in addition to all other forms of modern-day unified communications and collaboration.
Enter Actiance, a provider of platforms that enable security, management and compliance of unified communications, Web 2.0 and social media channels. Previously FaceTime (News - Alert) Communications (Apple bought the rights), it brings its roots in security and compliance to communication, collaboration and social media governance for the enterprise.
I caught up with Norv Leong, director of product marketing at Actiance, at Enterprise Connect (News - Alert) last week, who explained the types of companies and industries Actiance helps, the challenges modern-day communications channels present for compliance and the different products Actiance offers.
From email to instant messaging to social media, Actiance targets nascent, real-time communications technologies. Its flagship product, Vantage, is among its most popular, with roots in the messaging space.
Actiance launched Socialite in July 2010, which focuses on Facebook, LinkedIn and Twitter (News - Alert) controls and targets distributed teams. Individual accounts can use Socialite to share pre-approved content, interact with clients and prospects and analyze the impact of their activities, while keeping in mind conditions of using social media for new business.
Actiance also offers Alcatraz, which is a cloud-based archive centered around social content. “Social content is structured a lot differently than email,” Leong explained. “Email is static, social is dynamic – people are constantly responding, deleting and sharing. Social content is not easy to sift through, and we’re starting to see more social content pop up in litigation, not just email.”
Alcatraz captures archives and conversations in a thread, organizes it in chronological order and in real-time. The goal is to help people find what they’re looking for quicker – it saves time and money.
On the roadmap is to incorporate video for channels like YouTube (News - Alert), but also as video starts to pick up from UC vendors and enterprise communication. “We try to be agnostic, especially in the Microsoft vs Cicso debate. We don’t care which way the customer goes, just that we’re able to support them,” Leong said.
Actiance’s end-to-end governance platform can capture data early on, acting as a filter to apply policies, intercept posts and updates to meet compliance and prevent any issues.
Basically any company subject to regulation is a company that can benefit from Actiance. The company serves the top 10 U.S. banks as customers, as financial services is its biggest vertical – it has the most stringent regulations and most specific rules targeting social media. Anything that can be construed as a recommendation or future-performance statements can be a violation. Actiance’s software and shut off functionality like retweeting, liking and sharing, but can allow for a “read only” feature so advisors and individuals can still reap the benefits of staying up to date on relevant trends and conversations online. It also serves energy and utilities, pharmaceutical and healthcare.
Learn more about Actiance and its portfolio of products at www.actiance.com
Edited by Cassandra Tucker