Global News
Frayman Group, a leading provider of business process management, business intake, risk and compliance software for law firms, today announced Compliguard Action, the legal industry’s first decision management system.
Compliguard Action automates the decision-making process by analyzing all available firm data and taking appropriate action based on a firm-defined decision model and business rules.
Compliguard Action picks up where business rules management systems have fallen short, as it is designed to improve and automate the decision making process by using all available information, including all firm data stored in business systems, analytics, as well as other criteria such as known risks and time constraints. The system leverages predictive modeling, analytics, scoring, rules and decision logic to partially or fully automate the decision-making process based on pre-defined decision criteria.
Seamlessly integrated to all business-critical firm systems, Compliguard Action acts as the decision hub of a law firm, taking into account all available data, and initiating actions based on a pre-determined and defined decision model. Compliguard Action can issue alerts, and take action by issuing Web Services calls to any internal or external systems. Out-of-the-box integration with Frayman’s market-leading business process management solution, Compliguard Flow, allows Compliguard Action to also spawn and initiate business processes based on the decision model.
Frayman Group is leveraging Compliguard Action to develop a solution for a particular use case for Matter Lifecycle Management (MLC) with early adopter law firms. MLC is a framework specifically designed to monitor and collect data across relevant systems at the firm, with the ability to make decisions to conduct business development activity and manage risks based on a predefined set of business rules.
“Firms have relied too long on manual processes to maintain the agility of their business when they are faced with critical business decisions,” said Yuri Frayman, President & CEO of Frayman Group. “We are excited to be delivering today’s modern law firm with the tools and capabilities needed to automate the decision-making process in order to better mitigate risk and improve profitability.”
Compliguard Action is available to early adopters throughout Q1 2014, with general availability expected in April 2014.
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