The year 2012 saw the ‘Exploding Content’ phenomenon due to the constant generation of Content and Data, both online and offline that created the need for better storage, security, collaboration and more. In fact, at the end of 2012, enterprises worldwide had created and stored 700 exabytes of data, equivalent to the contents of 7 million US Libraries of Congress.
85% of this data is in unstructured, text format, primarily in multiple content repositories across the enterprise and the cloud. Gartner’s Craig Roth introduced the term Big Content to refer to this text-based portion of Big Data. (http://blogs.sap.com/innovation/sales-marketing/what-is-big-content-01245937).
It was during this time when Infinote stepped in, to bring instant visibility to this Big Content – 85% of the enterprise data – and became the world’s first and only one-click Big Data Text analytics solution.
With offices in the Silicon Valley and India, the company faced its share of advantages as well some initial challenges – namely – creating awareness and educating the customer (having been the first entrant to the market), but successfully made use of the opportunities that came its way and created a name for itself.
Making an impact across various domains
“We are the world’s first and only one-click Big Data Text Analytics solution that connects to enterprise and cloud content repositories to enable instant analysis, update and audit. We understand that not all content will be moved to the cloud overnight – it may take months and even years for corporations to be comfortable moving sensitive content to the cloud. At the same time, every IT department has a cloud roadmap. Infinote solution works seamlessly on cloud as well as on in-house IT infrastructure, behind the firewall. This gives our customers the flexibility to get the power of Infinote to suit their infrastructure needs. Also, when they are ready to migrate content to the cloud, Infinote can make it happen in a click”, says CEO Yogen Kapadia.
The company that has gained immense popularity since its inception in 2012 has various offerings for the Life Sciences, Finance and Legal domains.
– Life Sciences
Due to external regulatory or internal policy changes, Quality Standards, Standard Operating Procedures, Drug Labels, etc. need to be updated constantly at Pharmaceutical companies. These require updating 200 to 5000 documents per change, costing $180K to $5M per change besides months of effort and if not addressed correctly, fines for non-compliance could range from $100K to $500K per incident with a worst-case scenario of having to take a drug, worth billions of dollars, off the market or shut down a plant.
It is here that Infinote steps in to solve Content inconsistency issues in dossiers submitted to the FDA that can result in delays in drug approval, directly impacting revenue.
– Finance and Legal
The Federal Government recently made changes to the regulations around billing fees for credit card companies, as a result of which a leading credit card issuer had to revise 7 million contracts. On the other hand, financial companies have to address around 2,400 large and small regulatory changes per year, impacting a wide range of products such as derivatives, contracts, mortgages and insurance policies. In fact, during the 2008 great recession, a leading bank lost $20 million in a derivatives contract because of bankruptcy filed by the other party. On closer examination of the contract, it was discovered that the bank would have been able to save at least $5 million if a standard, approved clause had been used in the contract.
It is here that Infinote emerges as a savior and works the way the customers prefer to work.
Marking its presence
Founded in the Silicon Valley, Infinote was conceived and developed regulatory, quality and compliance professionals, who had grown tired of searching for and updating policies and procedures across thousands of documents to ensure compliance in regulated industries. Having served customers globally, the company’s focus area is to provide users with precise information in accordance with when and where they need it. “Enterprises take decisions based on a small fraction of the data available to them. It is like driving a race car at 200mph with the wind screen of the size of an iPhone. Over 85% of the data, contained in text format in various content repositories like SharePoint, Documentum, Box and more remains unanalyzed. Infinote brings instant visibility and analytics to this content. The right information, available at the right time can prevent catastrophes from happening”, adds Yogen.
With evolving technology and an efficient and qualified team of experts, the company is destined to make most of the fast paced big data market and carve out a niche for itself in the upcoming days lying ahead.
Knowing the Key Executives
Yogen Kapadia- Chief Executive Officer
Yogen previously led Regulatory, Quality and Compliance systems at Genentech as a Systems Architect. He helped built the world’s first first push technology based exchange for refined oil trading.
Rahul Brown- Chief Solutions Officer
Rahul previously served as the Vice President of Business Development at Blue Earth. He Co-founded one of the first media search engines in the first tech boom.
“Infinote saved me five hours of work in the first five minutes of use.” – Ann Mead, Director of Operations, BayBio
“Infinote made precise changes across all my deal documents, in a few clicks.” – Ethan Stone, Partner, Stone Business Law