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Automating Regulatory Compliance with Innovify’s AI Solutions
Platforms
Web
A leading EU-based regulatory compliance consultancy helping businesses stay up to date with evolving government regulations through tailored summaries and updates.
Challenge
Businesses throughout the European Union are confronted with the persistent challenge of adapting to constant regulatory changes, necessitating real-time monitoring and swift action to ensure compliance. Orbis Advisory faced significant hurdles in this endeavor, primarily due to the reliance on slow and resource-intensive manual research methods. Analysts spent excessive time manually reviewing vast amounts of data from numerous government websites, leading to high operational costs due to the heavy reliance on human researchers.
The resulting delays in report delivery frustrated clients and exposed them to the risk of non-compliance, undermining their trust in Orbis Advisory’s services. Furthermore, inconsistencies in the delivery of updates eroded client trust and threatened retention rates.
Key Objectives
- Automate regulatory tracking and compliance updates.
- Reduce operational costs while improving efficiency.
- Enhance client retention with faster, more accurate reporting.
- Improve report delivery speed and accuracy.
- Strengthen Orbis Advisory’s position as a top compliance services provider.
Solution
To address these challenges, Innovify provided Orbis Advisory with a comprehensive suite of AI solutions and automated talent solutions. This included an AI solution for automated data extraction from over 50 EU and government sources, enabling rapid and accurate information retrieval. Additionally, Innovify facilitated AI-powered hiring of top compliance analysts to augment Orbis Advisory's expertise. The solution also incorporated automated report generation, reducing the dependency on manual research, and implemented project management and tracking tools to ensure timely and efficient updates.
Results
- 70% Faster Regulatory Research: AI slashed information-gathering time.
- 5-Day Report Turnaround Cut to 24 Hours: Faster compliance updates for clients.
- 30% Increase in Subscription Renewals : Improved service boosted client trust.
- Scanned 50+ Government Sources Daily :Ensured accurate, real-time compliance updates.
Innovify’s AI-powered automation revolutionized the client’s regulatory tracking, enabling rapid compliance updates, improving client retention, and driving business growth.
