{"id":58645,"date":"2025-01-15T12:33:31","date_gmt":"2025-01-15T20:33:31","guid":{"rendered":"https:\/\/newrcblog.wpengine.com\/us\/en\/blog\/?p=58645"},"modified":"2025-03-13T06:01:09","modified_gmt":"2025-03-13T13:01:09","slug":"new-survey-ringcentral-customers-are-well-positioned-to-overcome-compliance-challenges","status":"publish","type":"post","link":"\/us\/en\/blog\/new-survey-ringcentral-customers-are-well-positioned-to-overcome-compliance-challenges\/","title":{"rendered":"New survey: RingCentral customers are well-positioned to overcome compliance challenges"},"content":{"rendered":"
Authors:
\nMatthew Lehman<\/a>, Head of Industry Strategy, Financial Services, RingCentral
\nTonya Severance<\/a>, Sr. Partner Product Marketing Manager, Theta Lake<\/h5>\n

Joint blog with our partner,\u00a0 \"Theta<\/p>\n

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New insights from recent industry research reveal pressing risks and opportunities for managing the complexities of multi-channel communications in regulated industries. Conducted by Theta Lake, the sixth annual Digital Communications Governance & Archiving (DCGA) Compliance & Security Report surveyed 500+ senior IT and compliance professionals. The findings highlight the increasing compliance and governance challenges faced by businesses as they navigate hybrid work environments and multi-modal communication platforms.<\/span><\/p>\n

The evolution of hybrid work has transformed how businesses collaborate, with tools like voice, video, SMS, and chat enabling seamless connectivity across locations between employees and with customers. However, for regulated industries such as financial services, healthcare, and the public sector, these innovations bring new layers of complexity to compliance and governance. The survey underscores critical risks, including gaps in recordkeeping and the challenges of managing diverse communication channels.<\/span><\/p>\n

\u201cAt RingCentral, we recognize the critical role compliance plays in empowering organizations to maximize employee communications, productivity and collaboration without compromising security or regulatory requirements\u201d says Matthew Lehman, Head of Industry Strategy, Financial Services at RingCentral. \u201cThrough our trusted partnership with Theta Lake, we help regulated industries bridge governance gaps, reduce risks, and unlock productivity with seamless, secure solutions.\u201d<\/span>
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\n<\/span>By addressing these survey findings directly in this post, we\u2019ll explore how businesses can effectively tackle compliance complexities while leveraging the full potential of modern communication platforms. <\/span><\/p>\n<\/div>\n

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Nearly \u2153 of all survey respondents indicated that their businesses use more than seven communication channels and modalities. <\/span><\/i><\/p>\n

The expanding scope of communications compliance<\/h3>\n
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Unified communication platforms like RingCentral are central to modern business operations, integrating communication tools into a cohesive ecosystem. This innovation fosters seamless collaboration across dispersed teams but also brings increased complexity to compliance efforts.<\/span><\/p>\n

For regulated industries, the introduction of multi-modal communication\u2014where conversations span across voice calls, video meetings, persistent chat, and SMS\u2014makes compliance a more intricate challenge. Organizations must ensure that every interaction is captured, archived, and accessible in its original context, regardless of format. The dynamic nature of these channels, including message edits, deletions, and attachments, further complicates governance.<\/span><\/p>\n

The stakes are especially high for recordkeeping. Between 2022 and 2024, the SEC and CFTC levied over $4 billion in fines against organizations failing to adequately capture and govern communications on unapproved systems. These figures underscore why businesses need a unified approach to managing compliance across the diverse communication tools they rely on daily.<\/span><\/p>\n<\/div>\n

Gaps in compliance across modalities<\/h3>\n

As businesses rely on an increasing number of communication tools, maintaining compliance across diverse modalities has become more complex. According to the 2024\/25 Digital Communications Governance & Archiving (DCGA) Compliance & Security Report, 31% of financial services IT leaders reported using more than 10 different communication and collaboration tools. While RingCentral\u2019s unified platform seamlessly integrates these capabilities, capturing and governing them in alignment with regulatory requirements remains a critical challenge. It also presents an opportunity for regulated firms to offer the full array of communications tools and prevent employees from using unapproved or unmonitored channels. <\/span><\/p>\n