Epiq Systems, Inc., provider of managed technology services for the global legal profession, has released a new research report focused upon the eDisclosure readiness of European and U.S. companies.
The findings show that 62 per cent of respondents within the retail industry stated that most companies within their sector would not be able to rapidly and accurately access key information and documents likely to be required by a regulatory authority in the course of an investigation.
The report, entitled "When the Regulator Calls," is based on a survey of more than 2,000 corporations across sectors including aerospace, banking and manufacturing in the U.K., France, Germany and the U.S.* To read the full report, visit Epiq's web site: http://www.epiqsystems.com/regulator.aspx
Of the 17 sectors surveyed, retail is one of those expressing the least confidence in its ability to access key information promptly. Among the sectors where more respondents said that companies in their sector would struggle to access key information and documents when required were media and publishing (74 per cent), high-tech and information technology (69 percent) and aerospace (68 per cent).
At the other end of the scale, those in the food and drink (51 per cent), extraction industries (52 per cent) and chemical and pharmaceuticals (54 per cent) industries expressed the most confidence in their ability to access important information and data.
"As a highly regulated industry, companies operating in the retail sector must establish a clear map of which information management systems and communication tools are being used within the business and by whom. They need to understand the means by which they can organise that information to enable efficient search and review," said Greg Wildisen, International Managing Director, Epiq Systems. "When it comes to responding to an investigative request, the more prepared a company is, the more efficient the e-Disclosure process will be and the easier it will be to manage costs."
*MindMetre Research, on behalf of Epiq Systems, surveyed more than 2,000 corporations in the U.K., France, Germany and the U.S. between September and November 2011. Respondents were senior managers (functional heads or deputy heads) with responsibility for compliance, corporate risk, or both. Company size demographics were: 51-250 employees, 26.8 per cent; 251-1,000 employees, 20.5 per cent; 1,001-2,500 employees, 9.4 per cent; 2,501+ employees, 43.3 per cent.