FOR IMMEDIATE RELEASE
The Frayman Group
Unveils Compliguard Suite, Patent-Pending Risk Management Platform for Law Firms
New York City — (February 1, 2010) – The Frayman Group (TFG) (fraymangroup.com), a leading provider of risk management software and services for law firms, today launched Compliguard™ Suite, a patent-pending, end-to-end risk management platform for law firms. Effectively aligning the risk and conflicts departments’ activities with the firm’s business goals, Compliguard Suite provides law firms with a clear competitive edge, allowing them to systematically mitigate risks across the business while significantly reducing the time it takes to incept new business.
Compliguard Suite is designed from the ground up using patent-pending technology to automate, streamline and accelerate key risk-related processes, including taking on new business for law firms. Delivering a holistic approach, the suite encompasses applications that deliver functionality for new business inception and lateral hire intake workflows, conflicts management, collaborative conflicts clearing and ethical walls.
Compliguard Suite empowers today’s mobile workforce with 24/7 operation, automates repetitive tasks leveraging rules and analytics, facilitates collaborative clearance of conflicts with full audit trail for compliance, automates ongoing monitoring of clients, and establishes and maintains ethical walls. The suite leverages and seamlessly integrates with firms’ existing technology investments, while delivering a world-class end user experience.
“The Frayman Group was able to leverage their expertise in risk management to deliver a product suite that promises to be game-changing,” said John Kruse, Director of Records and Conflicts Administration at Cadwalader, Wickersham & Taft LLP. “We share Frayman Group’s vision for a holistic approach to risk management, delivering automation and leveraging analytics to speed up conflicts management and clearance process to deliver a true competitive edge.”
Compliguard Suite consists of:
- Compliguard Flow™ – Built on the robust Windows Workflow Foundation, Compliguard Flow handles new business inception and lateral hire intake workflows with power and agility, while exposing a rich workflow platform for defining additional workflows. The application allows firms to get up and running in a fraction of time and cost required by a cumbersome workflow toolkit.
- Compliguard Analyze™ – Eliminating the traditional bottleneck of conflicts management, Compliguard Analyze brings speed, smart automation and mobility to this mission-critical process. Conflicts participants can participate via e-mail and mobile devices to begin a conflicts search, initiating the system which then determines the best search strategy, performs the search, and compiles and ranks results automatically, ready for review by a senior analyst.
- Compliguard Clear™ – Built for today’s mobile law firm, Compliguard Clear enables the most interactive, collaborative conflicts clearance process for staff through a browser or in email, using the iPhone® or Blackberry®. Leveraging firms’ existing Microsoft Exchange infrastructure, the application captures all conversations during the clearance process and ensures full audit trail and documentation to answer potential future inquiries.
- Compliguard Protect™ – As a state-of-the art ethical walls and information barriers solution, Compliguard Protect provides full automation and self-maintenance, while simultaneously monitoring for unusual activity within the firm. The system is fully secure and non-intrusive to firm staff, and provides a detailed audit trail for compliance purposes.
“Risk management for law firms has evolved beyond the capabilities of a good search engine, “ added Kruse. “Firms don’t just need search, they need to truly modernize and speed up the new business intake process.”
“With Compliguard Suite, we are taking risk management to the next level, giving firms a chance to reap the benefits of their investment in their risk departments,” said Yuri Frayman, President & CEO of The Frayman Group. “Our use of patent-pending technology raises the bar, intelligently automating and streamlining what were previously manual, repetitive tasks and enabling an accelerated but business-aware new intake process, ultimately designed to increase our clients’ odds of winning new business.”
Compliguard Suite is developed as a partner-ready platform and provides published Web Services APIs to facilitate integration with law firm systems, applications, and third party partner extensions.
“The Frayman Group are the foremost risk management experts for the legal industry,” said Todd Partridge, Vice President and General Manager of eDOCS Solution Group at Open Text Corporation. “Open Text continues to focus on building a comprehensive partner ecosystem to better serve its law firm customers. Our partnership with Frayman allows us to combine our strengths to provide products and services that are designed from the ground up to address risk management needs of our law firm customers.”
Availability: Compliguard Flow and Compliguard Protect are available now. Compliguard Analyze and Compliguard Clear are expected to be generally available in Q3 2010.
About The Frayman Group
The Frayman Group, a leading provider of software and services for law firms, combines industry expertise with innovative technology to help customers automate business processes, mitigate risk, manage compliance and improve competitiveness. The Frayman Group has 19 years of experience supporting 150,000 lawyers in over 270 law firms worldwide. The company is headquartered in New York City. For more information, visit fraymangroup.com.
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