The Forensic and Dispute Resolution Services team at Grant Thornton LLP, a leading audit, tax and business advisory firm, is passionate about their work. Led by Sandy Boucher, Senior Investigator, the investigative research team handles cases relating to background checks, fraud, corruption and business disputes. Solving such cases can be likened to a complex jigsaw puzzle and requires reliable sources to help piece information together. Before Certent DisclosureNet, this type of research required spending hours poring through many different rudimentary disclosure databases. Now Boucher says that Certent DisclosureNet is a “one stop location to find public market information” quickly, and has become an integral step in the case workflow.
Finding a Missing Piece
Grant Thornton had Certent DisclosureNet access prior to Boucher joining the company in 2009, however the product had been used exclusively in a financial reporting capacity. Having spent many years throughout his career searching in underdeveloped databases with outdated user interfaces and narrow content scope, when he learned about Certent DisclosureNet, Boucher immediately recognized the potential it held for his purposes.
His team relies on numerous sources to find information, including news media, court documents and bankruptcy records. While one solution could never replace this variety, Boucher deemed Certent DisclosureNet a great addition because it’s a “horse’s mouth” source. Categorized as any source whose data is derived directly from regulatory bodies, Boucher knew he’d be able to rely on the information found in Certent DisclosureNet.
As he began exploring the database further, he learned its full potential and before long, Certent DisclosureNet searches became a standard step in the majority of cases handled by his investigative team.
Inquiring Minds Want to Search (and Find) Easily
Most clients are drawn to the ability to drill down in Certent DisclosureNet to find specific pieces of intelligence, but Boucher’s team often takes a different approach. Starting with a very broad keyword search across all jurisdictions available in Certent DisclosureNet (Canada, U.S., Australia and UK), in mere moments all public filings on the subject under investigation are at their fingertips to sort through and narrow down.
Boucher counts search capability and speed as the two immediate benefits of this tool for his team, saying that, “DisclosureNet gives us enormous research power in one place with a very easy search mechanism and interface. With one click, we’ve got all the power that comes with access to a vast database of information.” He goes on to say that while some cases require more time using Certent DisclosureNet than others, it’s become an official step in the case workflow, and saves an average of two hours on straightforward cases and potentially dozens of hours on complex ones, resulting in cost savings for their clients.
But it’s not all about the information and accessibility; Boucher also values the frequent updates to the product, which continue to improve the user experience. He’s “never seen another database that’s so focused on developing a user-friendly interface,” and admits that he has asked administrators of other, less developed information databases to take a cue from how Certent DisclosureNet has evolved to suit its clients.
Time is Money
Certent DisclosureNet saves Boucher’s team varying amounts of time depending on the case. In the world of billable hours, that translates directly to client cost-savings. Here’s a breakdown of the time and money saving results that Boucher attributes to Certent DisclosureNet:
◆ Of the 500+ cases Boucher’s team works on each year, Certent DisclosureNet is used in almost every instance
◆ In some complex cases, Certent DisclosureNet can save anywhere from 10-30 hours of research time, translating to thousands of dollars in cost savings for the client
◆ On average, Certent DisclosureNet saves the team 2-3 hours per case, resulting in an average of ~$300 in cost savings for their client
DisclosureNet™ Just Fits
Boucher recollects the days when information was painstakingly gathered by poring over mountains of tangible documents, and is thrilled to have access to a research aide like Certent DisclosureNet to simplify the process and save him time. As his team researches complex cases, they turn to Certent DisclosureNet as one powerful source of information that helps them splice information together to complete cases. Like a puzzle piece, Certent DisclosureNet just fits into this process.