Case study: Using Videris to become a leading provider of high-quality due diligence
By Rebecca Lindley
The investigative due diligence team at our client, a global risk consultancy, was spending significant time gathering and analysing Open Source Intelligence (publicly available information) for each project. Recognising the need to be more competitive in a crowded market, our client required the team to offer an improved service at a reasonable price point: a seemingly insurmountable challenge.
Our client identified Videris and quickly realised that technology could be used to enhance many of the time-consuming, manual processes typically undertaken by investigators, without replacing human judgement.
Intelligent Automation radically improves efficiency
In contrast to many solutions where the investigator’s abilities and knowledge are deprioritised in favour of AI, Videris offers an approach known as ‘Intelligent Automation’(IA). This approach enabled our client’s investigators to conduct more efficient investigations that were of higher value to its customers. Resource that had previously been dedicated to time-intensive manual tasks such as identifying and mapping corporate networks could now be repurposed. Investigators were able to spend more time on those tasks that could not be automated, including the analysis and interpretation of the information that Videris had collected.
Improved analysis provides extra insight and increases accuracy
In addition to allowing for more detail, Videris’ advanced analytical tools allowed our client’s investigators to ensure a greater degree of accuracy in their due diligence assessments. Previously, investigators had relied on memory skills and careful cross-referencing to ensure that they identified all important information. However, Videris’ cross-matching feature highlights similarities – for example, between names, addresses and phone numbers – to the investigator, drawing attention to important connections and insights that might easily have been missed by the human eye.
Automated report-writing accelerates project delivery
Our client’s investigators were able to produce high-quality due diligence reports in a shorter time using Videris’ Notes functionality. Before the introduction of Videris, investigators were spending up to half of their time collating and writing reports. With Videris, they could capture unstructured text and images with full sourcing, and export it to a pre-configured template, ready to be shared with internal and external stakeholders.
Using Videris, our client quickly gained a reputation for its ability to offer a premium service within a shorter time frame. Its unique capabilities allowed it to secure a lucrative retainer with a magic circle law firm to provide 48-hour due diligence assessments of potential clients. Videris had helped our client modernise and enhance its due diligence offering.