ALPHARETTA, Ga., Jan. 22, 2019 /PRNewswire/ -- CoreView, the leading SaaS management platform (SMP) for Office 365, announced today that it has signed a definitive agreement to acquire TermSet, a privately held company based in the United Kingdom. TermSet provides solutions that unlock the information inside documents by using Natural Language Processing (NLP) based on Artificial Intelligence (AI). Customers use the solutions to manage GDPR-sensitive data and improve discoverability and productivity. This acquisition strengthens CoreView's ability to help organizations ensure security, enforce compliance, and streamline operations.
Over 80 percent of an organization's information is typically stored in unstructured documents, such as email, Microsoft Office documents, and PDFs. Likewise, over 80 percent of an organization's risks and liabilities are also contained in those same files. TermSet uses Natural Language Processing at scale to help organizations surface this hidden knowledge and remain compliant with GDPR, SOX, and other regulations to avoid substantial fines and reputational damage.
"The AI and NLP capabilities that TermSet has built are the future of technology in the cloud computing world," said David Moran, CEO of CoreView. "We're thrilled to be the first to bring these capabilities to our Office 365 customers and solve a number of problems including ensuring compliance with GDPR and other regulatory frameworks, improving employee productivity, and removing the burden from users and the IT team. The ability to monitor compliance across all internal and external departments, and automate the process going forward has become a necessity."
With the addition of TermSet capabilities, CoreView customers will now be able to:
- Ensure compliance with GDPR: Discover sensitive and personally identifiable information (PII) within all types of structured and unstructured documents, produce intelligence reports and act on those results. Automate the process for responding to "Subject Access Request" and "Right to be Forgotten/Removed" rules.
- Improve employee productivity: Deliver a Google-like search experience for users by applying metadata to documents stored within SharePoint, OneDrive, and Microsoft Teams to improve the enterprise search capabilities of SharePoint.
- Remove the burden from users and the IT team: Enrich search and accelerate large complex content migrations with metadata that is automatically applied to documents. In addition, unlock the full value of Office 365, such as providing metadata-driven navigation, and plugging gaps in eDiscovery processes.
"According to the Ponemon Institute, 73 percent of employees are accidentally exposing information stored within documents, and 49 percent of organizations have had a document breach within the last two years," said Brendan Clarke, CTO and co-founder of TermSet. "Organizations have a critical need to understand their risks of breaching GDPR and prove that they take data governance seriously. We are thrilled to join CoreView to support the security needs of their customers."
To learn more about TermSet, attend our webinar, 'Using TermSet to Unlock Information from Inside Your Documents' on Thursday, February 7, 2019. Register here.
The TermSet team will join CoreView's UK team. Terms of the deal were not disclosed.
CoreView is the best in class SaaS management platform for Office 365. It provides a fully integrated product that incorporates Monitoring, Reporting, Management, Customizable Administration and Training/Adoption to help customers stay in control of their Office 365 deployment. The comprehensive features and the advanced functionality built into CoreView allow organizations to improve security, streamline administration, optimize licensing, and empower usage adoption. CoreView's commitment to innovation is demonstrated by a close alliance with Microsoft as a Gold Certified Partner. For more information, please visit www.coreview.com.
TermSet has developed two products that use NLP based on AI. ScanR discovers GDPR-sensitive personally identifiable information in documents stored in multiple systems, and helps clients automate regulatory processes and quickly respond to "Right to be Forgotten" requests and "Subject Access" requests. TagR automatically creates taxonomies and applies metadata to documents stored within SharePoint, OneDrive, and Microsoft Teams, and enriches search and other Office 365 features. Both products also accelerate large complex content migrations to Office 365. For more information, please visit www.termset.com.
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