Recently Jive announced a partnership with Actiance, a leader in data retention and compliance solutions for regulated industries. The result of the partnership is a plug-in that integrates the Jive and Actiance systems and enables Jive customers to meet key corporate and government regulatory requirements. I asked Actiance VP of Marketing Sarah Carter and Jive SVP of Business Development Chris Morace about the partnership and the importance of a compliance solution for social content.
Sarah Carter: Actiance enables enterprises in highly regulated industries to comply with corporate, state, and federal rules and guidelines while taking full advantage of modern communication and social systems. We help customers meet challenges such as eDiscovery compliance, data leakage, and the need for a common policy and reporting framework for simplified administration – not only when using traditional communication technologies such as email and IM, but also social systems. That includes both consumer social (Facebook, LinkedIn) and business platforms (Jive).
Why is social compliance important? How does the Jive-Actiance partnership address it?
SC: In the past, companies focused compliance efforts on systems such as email. In recent years, as Social Business solutions have become mission-critical at large and small companies, communications have been shifting to these systems. Many industry and state agencies have made it clear that retaining email records is no longer enough. Enterprises must keep records of social communications based on the content, nature and purpose of the communication. That’s created a potential compliance gap and presented companies with a difficult choice: risk non-compliance or forego the benefits of Social Business. The seamless integration of Actiance and Jive means there’s no longer a dilemma. Enterprises can take full advantage of the power of Social Business and still meet regulatory and corporate governance standards.
Who will benefit most from this solution?
SC: The companies who will benefit most are those in highly regulated industries with stringent compliance requirements – financial services, for example. Until now, some of these organizations felt they had to take a go-slow approach to Social Business because of the compliance risks. Now, with the Actiance-Jive solution, they can really tap the power of social while meeting all their regulatory obligations. So, for example, we’re seeing financial services customers taking quick action to meet regulations such as FINRA Notices 10-06 and 11-39. And customers who have been involved in various types of litigation are moving rapidly to put archiving policies in place so that Social Business content is available for eDiscovery.
Chris, from the Jive perspective, what was the driver that made you realize that a solution like Actiance was necessary?
Chris Morace: Our customers really drove this partnership with Actiance. Financial services has been one of Jive’s top three verticals for the last couple of years. Financial services firms are aggressive early adopters of technology, but they are also highly regulated at both state and federal levels. Because of this, we worked closely with these customers to understand how the use of Social Business affected their compliance practices. For example, one of our customers sits on FINRA’s (the Financial Services Regulatory Agency) board and was able to help guide us through the frequent updates by FINRA on what was needed. This ultimately led us to Actiance, who already had an extensive footprint in financial services. As we got to know their solution and roadmap, we realized that this could be the perfect partnership, not just for financial services but for other regulated industries such as life sciences.
So how will this Jive plug-in work with the Actiance system?
CM: The great thing about this integration is that it is completely transparent to end-users. One of the things that Jive’s customers love about Jive is the user experience, and we didn’t want to break that. Behind the scenes, however, there is a lot happening. All of the things that compliance and legal officers need to be mindful of can be maintained as policies within Actiance. When these policies are triggered, Actiance can pull appropriate information from Jive, maintain its relationship and integrity, provide management and security, and enable it to be easily navigated for eDiscovery purposes. The Actiance solution can also be used to protect intellectual property and sensitive personal information (such as credit card and social security numbers). And Actiance integrates with all of the leading archiving vendors if the customer wants to send the Jive data into another platform for long-term storage or eDiscovery.
Lastly, Sarah, as Social Business continues to become mission-critical, what advice would you have for companies in regulated industries?
SC: We advise customers to look at Social Business from a holistic perspective, i.e., one that includes enterprise as well as public social platforms. Platforms like Jive now provide a seamless way to interact with public platforms like Facebook, LinkedIn, and Twitter. Enterprises should look at implementing a compliance platform that can provide unified policies, security and management across all of the Social Business platforms and social networks they are using.