GLOBAL ENTITY MANAGEMENT: HOW TO SUCCESSFULLY MANAGE A MULTINATIONAL ENTITY PORTFOLIO
Evolving regional and jurisdiction rules and requirements, time zone differences, decentralized support models, language barriers—not to mention the potential risks of non-compliance—make global corporate governance complex. Corporate legal departments increasingly recognize the multifaceted solution to these challenges involves centralization, knowledge, service, and technology.LEARN MORE
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Disclaimer: Please be advised that this recorded webinar has been edited from its original format, which may have included a product demo. To set up a live demo or to request more information, please complete the form to the right. Or if you are currently not on CSC Global, there is a link to the website in the description of this video. Thank you.
Christy: Welcome to today's webinar, "Global Entity Management: How to Successfully Manage a Multinational Entity Portfolio." My name is Christy DeMaio Ziegler, and I will be your moderator.
Joining us today is Rogier Bronk. With over 20 years of experience in the financial industry, he has worked across many different disciplines and with a wide variety of clients, ranging from large multinationals to private clients. David is a Senior Director of Product Management for Global Compliance and Governance Services at CSC in the Wilmington, Delaware headquarters. David is responsible for driving the strategic direction of CSC's compliance solutions. David has been with CSC for over 15 years and has significant experience providing training, implementation, and consultative services to clients of CSC Entity Management.
And with that, let's welcome Rogier and David.
David: Thank you, Christy. We're really excited to be here today. We want to say thank you to our audience for taking time out of their schedules to join us. We think we have a really powerful and interesting and meaningful webinar to go through together, and we really look forward to getting into the content.
So with that in mind, why don't we go ahead and take a look at today's agenda. So we always like to take a peek at the list of registrants, and we do recognize a lot of familiar names and organizations that do partner with CSC, but certainly folks that are not currently working with organization. So we'll take a moment to talk a little bit about CSC as a company, kind of a little bit about our background and the services that we offer. And then really what we'll do is segue into talking about what does it mean to manage a multinational portfolio of entities. What are some of the challenges that we're seeing in kind of the landscape of that discipline? And then we'll also look to kind of engage with our audience to understand what their specific challenges might be as well.
We'll then talk a bit about our Global Subsidiary Management offering. That's our global corporate secretarial offering. We'll talk about CSC Entity Management, which is our technology solution that is very interwoven with the global services that we'll describe. And then we'll talk a bit about implementation, what would it mean, what would it look like if you were to transition your services around global compliance for your entities to CSC. And then we'll also make time for a live demonstration of CSC Entity Management and even have some Q&A at the end. So we're pretty ambitious with all of the content that we do want to get to.
So with our agenda kind of understood, let's talk a little bit about CSC as an organization. It's always my pleasure to talk about CSC as a company. So CSC as an organization is globally headquartered in Wilmington, Delaware. We do have a physical presence across five continents. We are a privately held organization. Very proud to say that our roots go all the way back to 1899, so we've been around for well over a century. Also proud to share that over 90% of the Fortune 500 utilize CSC for at least one of our services.
Now if you've not joined us for a webinar in a little while, you might look at this slide and say this looks a little bit different, and there's a reason for that. And so in November of last year, it's hard to believe it's almost been a year, CSC completed our acquisition of the Intertrust Group. And so we are now a combined organization. We've united to create really what is the premier and preeminent global business administration and compliance solution for our clients. We bring together a combined history of almost 200 years, and we deliver extensive industry experience, a strong reputation, and superior client service. As one company, CSC and Intertrust will have again over 7,500 dedicated employees, and we have services that we offer across more than 140 jurisdictions.
Within the part of the business that Rogier and I work, we really have a mission, and that's to serve as an indispensable compliance partner by providing a combination of solutions that have world-class service, compelling technology, and give our clients actionable data. And we think that that will really, really come through in the presentation.
And Rogier, I'll turn things over to you to talk about this I think it's a fascinating report. So if you want to talk about it, that'd be great.
Rogier: Yeah. So thank you so much, David. And like I said, it's been really nice to join this presentation and speak about the hindrances and the solutions that CSC can provide to multinationals having multinational entity portfolios.
So we conducted a barometer survey among general counsels and asked about their top concerns and objectives. So last year it was conducted. Under 121, actually a larger group, but 121 people responded. And the outcome is different than the outcome in our poll, like I just mentioned. Actually, to me, this is no surprise.
If you really look deeper at the challenge at hand, the first thing that you really need to think about is how are things tied together. Initially, they think from a manpower solution, so overcoming communications and cultural differences, increased workloads. That all falls into line with cybersecurity and data privacy risk because people have weak passwords. They click on emails and open them up when they're not supposed to. So cybersecurity is a main factor among large multinationals, especially if you deal with a variety of outside legal vendors or have multiple locations around the globe. Having a variety of people accessing information and sharing information is a big threat to your organization.
David: Transition into kind of the next chapter so to speak of our webinar, which is talking in some detail about the global services that CSC brings to the table. And really it is a unique combination of both service and technology, which is in fact what the next slide talks about.
So we really see this as the overarching sort of value statement and what differentiates CSC versus other folks that offer services and technology in the market. And it's the fact that the services that we offer, as we mentioned, presence in five continents, local knowledge, local presence, compelling award-winning service, award-winning technology, and again these are not sort of disparate offerings. It's really a single offering, which is why we're talking about this as global entity services. And so when CSC is providing a corporate…secretarial, information and documents are flowing dynamically into our software, and there's this, again we're calling it an intersection, but it's really a complete integration of the service and the technology coming together, which really can profoundly improve your governance and it can really kind of transform how you're approaching the legal sort of operational management of your entities. And so we feel that this is really where we shine and really where CSC is quite a bit different.
So we'll get deeper into the technology in a little bit, which I'm excited to talk about. But first I'm going to turn things back over to Rogier to talk in detail about more of kind of the global services and some of the challenges that they help organizations overcome.
Rogier: Yeah. Thank you, David. And it might seem a little bit repetitive if we start talking about the challenges once again. We already saw the increased workload, the cybersecurity, etc. But I think if we dive deeper into the matter and we look at our day-to-day operations from a client perspective, they say like, "Well, I don't have really access to accurate up-to-date information." And I'm not only talking about the information that you need to see, the regulatory, I'm sorry the statutory information of the entities in each of the jurisdictions that can be solved with an entity management system, or if you are really good at Excel, that might work also up to a certain level.
However, getting the information from the jurisdictions that you're operating in or would like to operate in, but it's changing constantly who keeps you up to date. Now every single provider out there has its fiduciary duty to provide that information to you, but normally it's always done in the form of a newsletter or just an email that you receive randomly if something changes. We saw increased workloads. You don't have the time to read those information bulletins, and it goes in the round basket in the corner, which means that three months, four months from now your entity might be noncompliant.
So the way that we solve that is to provide a framework around providing services, but also providing information from each of the jurisdictions to our clients to make sure that the challenging regulatory comp landscape is not so difficult to understand anymore. It's still complex, but that's what you have a single provider for.
Now also insight in what it actually cost to maintain an entity on a global level or in each of the jurisdictions, let alone each of the service requests that you might have throughout the life cycle of an entity. If you work with a variety of law firms in country and you use them for heavy-duty legal work, like litigation or employment contract drafting, or anything like that, the compliance service that you might request, whether it's a change of director, whether it's requesting a certificate of good standing, it's done on an hourly basis. And it might be baked into the fees that you receive in an invoice, and it's not really clear what you actually spent for maintaining your entity in good legal standing.
So when you look at a single provider, like CSC Global, that has fixed fees, both on the annual compliance package, the mandatory service to keep the entity in good legal standing, as well as the additional or the ad hoc service requests, you'll get a really clear picture on what your actual spend is. So next year at this time, you have a way better idea of what an actual year costs for each of the entities that we maintain, meaning your budget negotiations internally, where you have discussions internally with finance will also flow a little bit better, and it's much easier to put a dollar amount on it.
So obviously, increased governance risk, nobody likes to see that. So having a dedicated client servicing team in place, that really pings you for upcoming deadlines, informs you about changes in local legislation is something that is very welcoming to especially the large multinationals, but also the smaller multinationals out there. And of course and this is something that we started this presentation with, our award-winning CSC Entity Management platform is also the building blocks for our service delivery framework.
David, maybe you see also something similar on your side from the technology part?
David: Yeah, absolutely. I mean, I'm excited to kind of dive deeper into the feature set of the technology and show a live demonstration. But it's absolutely a part of the kind of overarching solution, providing that source of truth and that transparency to kind of bring everything together.
Rogier: Yeah. Okay. So when we look at the actual services, right, and I always compare it to you should pay for the actual amount that you need. You should not overpay for things you don't need. If you want to have luxury, great, but you pay for that.
Now, when it comes to entity management, there are set rules that you have to follow. So we go by the regulatory law in each of the jurisdictions. So we make sure that our Annual Compliance Services follow the letter of the law. So the services that you see under our package, our Annual Compliance Package are actually divided into two, the actual services that you need to keep the entity in good in good standing in each of the jurisdictions, and, of course, this is very high level because, in India, you need four board meetings and a company secretary, same as in Malaysia, you need a company secretary as well. So that's not mentioned in here. But each of the jurisdictions is different, and make sure that all those services that you need to keep the entity in good legal standing are there.
Now, the other half of the Annual Compliance Services is what I like to call the facilitating services. That's your dedicated client servicing team that keeps the entities in good legal standing, that are your eyes and ears on the ground in each of the jurisdictions. A David mentioned in the beginning of our presentation, we service our clients with boots on the ground in over 140 jurisdictions. In order to do so, there's a whole framework behind it. Our inner workings, which we come to that in a little bit, has that all covered to make sure that you can focus on matters that matter most to you. So our solution internally is also technology to make sure that we keep up to speed and make sure that everything on our end is seamless. And we make this available to our clients as well. So the last part is facilitating services.
And then, of course, transaction or ad hoc service requests, as we like to say, the first two are not really ad hoc. Those are obviously per annum services that we also offer in each of the jurisdictions. The corporate health check, the third bullet point is something that we always do at the start of the engagement, just to make sure that we start with a clean slate, that any indiscrepancies that you might have in your portfolio are uncovered and remedial actions are taken to make sure that that entity is in good legal standing going forward. You sign up with a global provider that ensures your entity stays in good legal standing, and that's why we start with the corporate health check. And furthermore, anything what comes into play in the life cycle of an entity, from formation to strike-off, is something that we can provide services about.
Now specialized services, of course, and I'm coming myself from Intertrust, the acquired party by CSC, we also provide accounting, reporting, tax compliance services, payroll, etc. So we also have specialized services that we provide in each of the jurisdictions that might help us help our clients to have a full suite of solutions at their fingertips.
So let's look on how our global coverage actually works and how our day-to-day services work. So you, as a client, normally you would reach out to each of the jurisdictions that you might have an entity in, communicate with your local teams on the ground. They need to communicate with the local providers. But if you have a larger project, whether it's a post-M&A project that has several changes, corporate changes, a director, an office address change, a name change, etc. after the acquisition, it's all hands on deck now. The workload is already very high on our client side, so it costs an enormous amount of work to keep track of the status of each of these requests. And that's indeed with post-M&A it's a project. But in any day to-day operations, questions come up and you need to reach out. And sometimes you don't keep track of the email string or the status thereof, and before you know it, it's not followed up and it falls off the table, and eventually the entity is not in legal standing anymore.
So the way we solve it with the dedicated client servicing team is that you get executive support. We act as an escalation point, but of course we try to avoid that at all cost. So biannual check-ins just to make sure that service level agreements are being met, if there any upcoming projects, so that we can scale internally when it comes to actually adding manpower to the team, when you announce an acquisition and X amount of entities need to be onboarded and serviced going forward.
And, of course, your day-to-day contact, we believe that a face, a name, an email address, a phone number should be relevant to each of the clients that they can speak to. It's a people business, and while technology driven, if you need to speak to people to really assess situations, to understand scope of the request, and it's not only on a global level, but you also need to have access to an operational team, to subject matter experts in-country. Often legal matters are driven by tax or financial decisions internally, which means that together with your tax or finance director, you should be able to sit next to one of our colleagues in Luxembourg and discuss economic substance issues and the relevant matters, legal, finance, and tax around it.
So everything in a nutshell is that you reach out to the CSC Global Subsidiary Management team, and we do the rest. So that's one way. And like I said, we have facilitating services. So all the other dots underneath the CSC GSM logo is what filters back to the team. Something happens in Australia and six months from now you need a local resident director, but in your entity portfolio the entity in Australia has a foreign director. We will be able to catch that because our office in Australia submits the upcoming change to our teams. We filter the information. We look at the portfolios that are under management, and we reach out proactively to our clients to inform them about the change in Australia.
This is the way how we solve the challenge of dealing with an ever-changing regulatory compliance landscape. And I hope this image makes it more clear on how we service you back and forth. So it's not only a pass-through system as you might think. We do, of course, a lot of coordination in here, but it's also the brain power behind the operation.
David: Rogier, here as we transition into the technology, we had a question come through, and again we're going to try to leave ample time for questions at the end. But Paul was asking, saying, "How is cost handled? Is it a cost per country, or is it somehow bundled with what we deliver for a U.S. registered agent?" So do you want to talk about, just at a high level, sort of what that pricing looks like, or the cost structure probably is a better way to describe it?
Rogier: Yeah. It's a very good question, and, like I said earlier, our services are based on a fixed fee. And, of course, it's based on the complexity of the country and the jurisdictions that the entities are located in, on the type of entity, but of course also on the economies of scale. The larger the portfolio that we serve is or the number of entities in each of the jurisdictions, the more economical the fee will be because it becomes very repetitive. But it all starts with creating efficiencies internally. Thank you, David. Creating the efficiency internally already is the first approach to having very economical fees. But yes, the fees is depending on the jurisdiction. Japan has a lot more red tape than the UK for example. So it's really depending on that.
Transactional services are also based on fixed fees, which means that we look at the scope. I always say reach out to us first instead of trying to reach out to your local law firm that you normally use for litigation work or other legal matters, just to make sure that we might have something as an answer based on best practices rather than you get advice and you already need to pay for it and still going to have to continue. So fixed fees is always based on scope and on jurisdiction.
David: Excellent. Thank you for that clarification. And so now we'll talk about the technology platform that really, as we talked about before, integrates with the Global Services. And so this really just is a bit of a menu of some of the kind of major features, so to speak, that are available within our Entity Management Solutions.
So when clients subscribe to what we call CSC Entity Management, all of these capabilities instantly become available. So the opportunity to track data for your global companies, again entities around the world, tracking appointments like directors and officers. Being able to upload documents. We have an integration with DocuSign so that you can use an electronic signature workflow to actually get documents executed. There's functionality in the system, that I'll look to demonstrate later on in our webinar, where you can track ownership information, and from that the system can automate the visualization of your structure charts or what we sometimes call org charts.
There's a mechanism to track compliance obligations in terms of understanding what's due where around the world. And if you're engaging CSC to handle those compliance matters on your behalf, there's a real-time integration where you can see where CSC is in the process of handing your global filings.
There is a powerful reporting module built into our software, such that any information that you're tracking in the system, directors, officers, owners, entity vitals, registrations, prior names, etc., all of that information can very easily be exported from the solution in various reports.
And then also, in terms of integrations, I talked a moment ago about DocuSign for electronic signature. We also earlier in the year launched an integration with the Workday Human Capital Management software solutions. So, for example, as an organization, if you're using Workday as your as your so-called HR system and you're using our Entity Management solution, we can securely tie these together such that if there's a change to an officer, director, or similar individual within your Workday instance, we can create email alerts and in-application messaging within Entity Management to let you know that there may be a need to actually update your corresponding officer and director records. Whether someone has a name change or a title change, a position or a location change, we can start surfacing notifications that again there are changes, according to your human capital management system, that might warrant updates to the underlying officer and director data that you're tracking within CSC Entity Management. But really and I don't want to gloss over it, it's sort of that first sentence, that it's the technology completely integrated with our GSM solution.
And on the next slide, we'll sort of come back to that again in terms of what makes our Entity Management software different than other providers in the market. And so again, when you're using us for compliance services, like registered agent here in the U.S. or like what we call Global Subsidiary Management around the world, information, data and documents will flow automatically into the system.
Just to give a couple of sort of simple examples of that, if you were to engage CSC to form an entity on your behalf really anywhere around the world, that entity would appear automatically in our technology and the supporting document, in this case the formation document that came back from maybe it's a secretary of state or maybe it's a global registry if we're talking about a non-U.S. subsidiary, that formation evidence, that document is going to also automatically be tied to the company as well.
Rogier talked about some of our not just sort of annual compliance services that are included, but also those sort of ad hoc transactions. You might reach out and say, "CSC we need you to change a director on a series of entities." And so, again, we would update your officer and director data in that example. And then the document that gets drafted to effect that change would be also lodged directly in our technology, tied to the system in dual languages. So you would have the in-country language document as well as a working English translation associated automatically with the entity in our technology. So this is, again, an enormous part of what we see the value that we bring to the market is this integration of the service and the technology.
We also feel and feedback tells us that our entity software is highly intuitive, and it's also very configurable. And so there's a mechanism where you can create custom fields, design unique layouts, your own reports and org charts. And so it's not a situation where you'd have to reach out to CSC and pay a fee and wait for us to sort of make some sort of customization updates in your application. You have the ability, as an administrative user, to really modify the look and feel and customize the solution in a variety of really powerful ways.
Now, if we go back to the original poll, and I'm a little embarrassed that my guess was way off, but if we go back to that original poll, one of the things that really came through loud and clear was that, hey, one of our biggest challenges, as sort of a collective webinar audience, is just the complexity from one country to the next. And so we have in our technology what we call our Good Standing Calendar, where we automate the creation of both U.S. and global compliance events.
So it's based on a knowledge base. So for example, in Singapore, if it's a publicly traded entity, the annual compliance filings are due at a different time if it's not a publicly traded company. And so there's so much nuance around the world, and we have all of that knowledge built into what's called a knowledge base. And then we also have what we call a rules engine that is able to take that knowledge, that's built and embedded in the system, and actually apply it to your actual set of companies that you're managing in the system to automatically populate compliance events in the calendar. And again, as CSC is handling those events on your behalf, you can see the status of those events updating in real time. And again, it's all about transparency. It's about having a source of truth that you can trust to kind of understand what's due where and when, and where CSC is in the process of handling those obligations on your behalf.
CSC Entity Management is also a highly secure piece of technology. There's security and vulnerability information that we can provide. But we go to the utmost lengths to ensure that bad actors are not able to get to your information. And then also, within the system, it's also highly configurable, where you can determine what level of access is appropriate for each individual user. So you can have folks who are administrative users, who can see all companies and see all the data and documents. But certainly you can also establish users that are more limited, where you would have individuals that maybe only see certain entities, maybe they can see basic entity vitals, but maybe you don't let them see some of the more sensitive documents. So there's again a lot of granularity and flexibility in terms of making sure that people can only see and do what you feel is appropriate within the system.
One of the other things that makes CSC Entity Management is a bit unique is really just how we take it to the market. And so the second to last major bullet here talks about the fact that when you subscribe to the platform, you're getting unlimited users. So there's not any sort of per user fee or penalty for really scaling it out across your organization. And that's typically when these applications really start to provide tremendous value, where it's not just let's say the legal department that's working in the system, but they're also able to securely open it up in a managed fashion to folks in finance and treasury and other parts of the organization that can really benefit from, again, that source of truth for your legal entity information. When an organization subscribes to the platform, they get all the features automatically. They get all of the enhancements, which we typically make three to four major enhancements per year. And there's also unlimited, dedicated web-based training to make sure that you're very comfortable with the ins and outs of how to utilize the software.
And then that last bullet talks about the fact, and I alluded to this a moment ago, that we are very invested from a senior level in this organization to the continued development of the technology with regular enhancements.
And so speaking of, that's actually a bit of a transition into the next slide. This is a little bit of a snapshot. So the CSC Entity Management solution has been on the market for over a decade, and this is just a little bit of a kind of a peek back at the last five years or so in terms of the major enhancements that we've made in the technology.
And so this year alone, if you sort of look at this, it's a bit of a serpentine, but the international date format support, which I can look to kind of highlight, that's a new feature this year. We have, again, some of the integrations, the pre-built integrations that we're designing, like the Workday integration. And again, there's more in flight as well in terms of active projects that we're developing as we speak, which we'll talk about actually on the next slide.
And so this is always sort of a continually evolving piece of technology. And so apologies that I won't be in a position to share this today, but we are developing and we have a couple of clients that are piloting this today as we speak, and we're looking to go live with this later in the month is a global entity map. So if you are, in fact, a multinational organization, you can log in and see visually, with a heat map, where you have entities around the world. You can zoom into certain regions or countries and get entity lists and use that to navigate directly into CSC Entity Management. So it's a really powerful visualization tool that helps you understand where your entities are formed around the world.
We're also actively developing an enhanced beneficial ownership visualization report. Folks that have entities here in the States might be familiar with the looming Corporate Transparency Act legislation that goes live starting next year. And so we already, as we speak, have a secure mechanism to track the data that's relevant to what's called FinCEN, the Financial Crimes Enforcement Network that's kind of overseeing the administration and the governance around the so-called CTA. But we're enhancing the technology to really bring all that data together in a powerful way through a visualization report.
We have a mechanism today to create integrations with third-party applications, where we can feed both data and documents from CSC Entity Management into other systems. But we are, again, developing that further so that we'll be able to bring information from third-party systems into CSC Entity Management. We think of that as kind of inbound integrations.
And then last but not least, and this is an upgrade that we see going live early next year, document generation, the ability to have templated documents for things like director appointments or resignations or placements, and the ability to then have that template stored in the technology, the ability to actually merge the data in the system into the template to generate documents in real time, again leveraging data in the system itself. And so very excited about not just where we are at this moment in terms of the Entity Management functionality, but we're on the precipice of even greater capabilities based on projects that we're working on as we speak that'll go live either later this year or early next year based on what you're seeing on this particular slide.
Now I could go on and on and on about Entity Management, but we do also want to talk a little bit about, again, what would it mean to come on board with CSC for our Global Services and for our Global CSC Entity Management technology. And so, Rogier, I'll bring you back into the conversation to kind of paint the picture a little bit in terms of what it looks like to engage us for our Global corporate secretarial services.
Rogier: Yeah. Thank you, David. And it's actually interesting because you say you can go on and on about technology, which is actually for most in-house legal teams the main topic of solving the issues they have with their entity portfolio. And you think that onboarding and implementation, the slide that we're seeing right now, is the one to get started because I also think the audience might say like, "Well, this is a really good idea. We have one data client servicing team. There's a global agreement in place, so scalability is easy. I don't have to deal with data privacy, GDPR, etc. It's all covered, and I get updates. But how do we actually get started?" Because often, the conversations stop right here.
Sometimes it's because companies have spoken with other global providers that have a very fixed framework in place. It's all centralized. There is no support or barely any support for the local offices. There is no access to subject matter experts. It's all done by a dedicated client servicing team that sits in one location. So also time zones are still a challenge. Other companies are like, no, it's internally on my side because we have a very de-fragmentated organization. I cannot get all the stakeholders on the same page, or we have several divisions. It's great. Thank you very much. But onboarding and implementation, as it stands right now, will not happen until we actually change our organization.
Now we're the business behind the business slogan of CSC Global, which means that we provide a bespoke solution to our service offering. Once you are capable of understanding that we have a bespoke solution for our clients, you will be in the driver's seat.
So Phase 1, even though it says mobilization and setup, this is basically the kickoff. And we already discussed some of the main requirements to put a fitted framework into place. But it goes further during the implementation and onboarding phase because this is the moment that you can say like, "No, I don't need six weeks in advance to ping you for an upcoming deadline. I need 12 weeks because we use one of the Big Fours for our financials, and they need also some additional lead times to produce those financial statements to us. So instead of pinging us 6 weeks in advance, it needs to be 12." Other items that some of your colleagues might need to be pinged and not so much the legal team as the finance team or the tax team.
So as a client, you are in the driver's seat. Not all the entities have to come to CSC. Of course, like we said, pricing is depending also on the economies of scale. But it is much better to have a hybrid system or a hybrid framework in place and that it is bespoke to your organization.
So once we kick off the CSC relationship, we begin working through timelines and priorities and service agreements. Of course, as I mentioned also before, KYC and AML is very important.
But most important is Phase 3, the corporate health check. We want to make sure that we have uncovered any discrepancies that might be in your entity portfolio, whether these are known by you, one of the board left and you have not appointed a new director in some of the jurisdictions for that entity, or that the UBO register was not created in Trinidad and Tobago since 2019 and never have been updated in the past four years. Those are things that might come to the surface, and we will write a detailed report with our remedial actions, the suggestions thereof, and of course most importantly the fee for any of the remedial actions that need to be taken. And it's still up to you as a client to determine that some of the remedial actions might be done in-house by a team locally in Trinidad and Tobago if you have an entity there, or that we solve it for you…
And then, of course, Phase 4, for activation and go live is your dedicated primary point of contact is now fully assigned and engaged with your clients. Back-and-forth information on your entity portfolio, on the regulatory changes in-country for each of the entities is going to be discussed on a regular basis.
Now throughout this process, regular status calls, update calls, reports are being shared so you always will be in the loop. It's extremely important for us that we stay in contact and continuing the dialogue throughout the process. We want to make sure that you're set up for success internally, and we don't step away. If you need to have additional town hall calls, as we call it, to have other stakeholders or other jurisdictions get on the same page and we need to assist you with some change management within the organization, we are also there to assist you. So onboarding and implementation is just more than getting information from you, putting that in a framework, sharing it into our entity management system, and start serving you as a client. It's way beyond this scope. And that's . . . Go ahead, David.
David: Sure. Yeah, absolutely. I mean, that's very helpful. It's an involved process I would say, but we are doing the heavy lifting, right, to kind of let the client know the information that we need and setting up that framework for success moving forward.
And then, speaking of success, obviously we believe strongly that the Entity Management technology becomes your lens into the work that we're performing for you around the globe with this interactive capability where you can work in the system, making updates as well. And so a lot of information will be populated automatically into the technology by virtue of what we call that corporate health check. We can also provide additional migration services if you have historical officers and directors and historical ownership records, etc. that you're interested to have CSC populate into the platform.
And then once we're to a point where you feel you're at kind of critical mass with information in the system, then we would talk about the training. Again, there's a lot of words on this slide. This could be more of a takeaway. But fundamentally we provide unlimited free training, and we tailor that training to the needs not only of the organization in terms of the features that they plan to adopt within the software, but also the individual users. And so we will do dedicated training for admins and sort of edit users so they're very comfortable with the ins and outs of how to make updates in the platform moving forward for information that they intend to maintain, but then also tailor training to the needs of what we would describe as view-only users. These are folks that really just need to log in and perhaps maybe just every so often to see an upcoming compliance obligation or locate a document or look at a list of officers and directors.
And so again, as I noted earlier, one of the reasons that we make sure that you can have unlimited users without any sort of financial negative repercussions from that unlimited users at no added cost is, again, we really believe that this technology platform starts to bloom in terms of what it can do in not just the legal department but really the whole organization, kind of in an interdepartmental fashion is accessing the system. And it becomes really kind of a culture of self-service, right, where folks don't have to come directly to let's say the legal operations or the legal department. They really can service themselves in terms of getting access to that real-time information that is that source of truth for your multinational portfolio.