Case study: Using Videris to become a leading provider of high-quality due diligence
The Challenge
The investigative due diligence team at a global risk consultancy was spending significant time gathering and analysing Open Source Intelligence for each project. Recognising the need to be more competitive in a crowded market, the team needed to offer an improved service at a reasonable price point.
The Solution
The team quickly realised that technology like Videris enhance many of the time-consuming, manual processes typically undertaken by investigators. At the same time, Videris left key decisions to the investigator, never 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). With IA, investigators could conduct more efficient investigations that were of higher value to its customers. Resource that had previously been dedicated to time-intensive tasks such as identifying and mapping corporate networks could now be repurposed. Investigators could spend more time on tasks that could not be automated, including analysis of the information collected with Videris.
Improved analysis provides extra insight and increases accuracy
In addition, Videris’ advanced analytical tools helped investigators to ensure better accuracy in their due diligence assessments. Previously, investigators had relied on memory skills and careful cross-referencing to identify all important information. However, Videris’ cross-matching feature highlights similarities – for example, between names, addresses and phone numbers – to the investigator. Automated analysis draws 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 could produce high-quality due diligence reports in a shorter time using Videris’ Notes functionality. Before the introduction of Videris, investigators spent 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.
The Outcome
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.