The New Standard in Compliance: Q&A with Parth Chanda

In case you missed it, Case IQ recently acquired Lextegrity, a compliance analytics and automation software company. Parth Chanda, Founder, Lextegrity, a Case IQ Company and EVP, Risk and Compliance Transformation, Case IQ, is excited to bring his legal and compliance expertise to Case IQ’s customers.

We sat down for a quick Q&A with Parth to pick his brain on how the acquisition will benefit compliance teams, from monitoring to case management, and what he predicts for the future of compliance.

How will this deal disrupt the market?

Parth Chanda: “We have this amazing toolset [with Lextegrity]. Our real time compliance monitoring solution has been cited by the SEC and aligns with what they and the DOJ have been saying loudly – that companies need to immediately detect wrongdoing – and now we’re helping make these tools accessible to more companies with Case IQ. Case IQ’s and Lextegrity’s unified solution provides comprehensive visibility to compliance teams of their risks, by providing real-time risk scoring of transactions alongside real-time hotline intake and case management, something none of our competitors are providing.”

Why do you think customers will be excited about this partnership?

PC: “Case IQ and Lextegrity have created a new standard for compliance management that will improve the effectiveness of customers’ compliance programs by optimizing prevention, immediate detection, investigation, and mitigation, leading to more effective and more efficient compliance programs and investigations processes.”

What is the Case IQ/Lextegrity combined core value proposition?

PC: “We took the best incident management software and then the best compliance approval workflow and monitoring tool and brought them together. We can help compliance teams reimagine how they understand their risks, how they can help their business, and how they can energize their teams and their business leaders with more powerful tools. We are confident, as more companies see the functionality on offer, they will appreciate the transformation it can enable for a compliance team.”

What compliance trends do you predict for 2025?

PC: “Compliance programs will continue to be frustrated by the lack of accurate and objective measures of whether their compliance program is effective. Traditional metrics (e.g., training completion, hotline reports) are a limited and self-selected view of effectiveness (based on employees reporting or self-certifying). The reality on the ground may be very different and most compliance teams have no means to assess that reality proactively today. Tools like our compliance monitoring solution actually validate on a daily basis whether every transaction within the company globally is raising compliance risks. For compliance teams, this will continue to be seen as the new standard for compliance program effectiveness measurement for more and more compliance teams.”

How do you see the compliance category evolving in the next five to 10 years?

PC: “Compliance teams will change their posture from being primarily reactive to overwhelmingly proactive. Issues will be identified earlier proactively and shared with business leaders to action. This will enable compliance to better arm the business, who is by definition closer to the risks, to own their own compliance, which will raise the level of compliance within organizations. This will also free up compliance officers to do higher value, and frankly more interesting, work, like digging into data and exploring emerging risks and doing deeper data-driven audits of specific businesses and third parties. I am excited to see the calendar of a compliance officer in the next five to ten years compared to today.”