Underpinning Efficiency and Compliance in Capital Markets with ScribeStar
Project takeaways
Products released 12–24 months sooner to market
Accelerated revenue generation, enabling earlier returns for investors
Enhanced the review process by providing clear, audit-ready change tracking for complex and highly regulated documents
“DeltaXignia is significantly different to line-by-line comparison tools. Its outputs can be understood and processed by our platform to add value to reviewers and editors.”
Srinivas Suravarapu, CEO and Architect, Scribestar
About Scribestar
Scribestar is a technology startup, focused on supporting the people who write and review the large, complex prospectuses used to raise money in capital markets. Their collaborative authoring platform is optimised for this niche market, minimising repetitive work by highly paid professionals, while eliminating human error in layout and production.
Headquarters
United Kingdom
Company Size
SMB (0-100 employees)
Industry
Information Technology & Services
Website
www.scribestar.com
The Challenge
Crucial, complex documents
Scribestar is a collaborative platform for drafting and publishing complex legal documents. It has been designed specifically for professionals working in the demanding and highly regulated business of publishing prospectuses for IPOs and other fund raising in complex capital markets.
The financial and legal consequences of providing incorrect information can be catastrophic, so rigorous review processes are essential. However, the documents are long and complex and typically require several rounds of editing and reviewing by company directors, lawyers, accountants and corporate finance advisors.
Adding additional value to their products
The team at Scribestar recognised that a major value-add for their product would come from helping users reduce the time spent in costly review cycles. They designed numerous features to avoid unnecessary reading and duplication of effort. In particular, they needed to track where changes had occurred between different edits and highlighting which changes would have a statutory implication.
Their developers investigated approaches around identifying and tracking changes in structured documents and found numerous products that could highlight differences between texts. However, they found that all these products were limited to showing the differences; they could not record them meaningfully or mark them up in a way that would allow the Scribestar software to process them and analyse the implications for compliance
The Solution
Working with DeltaXignia
The chief software architect at Scribestar had identified DeltaXignia as being fundamentally different from line-by-line comparison tools. He recognised the flexibility in the approach that DeltaXignia has to marking up changes and he saw the power of being able to track text that is moved within a document.
Because Scribestar has been built around the DITA document standard, they integrated the DeltaXignia Compare product which specialises in DITA comparison.
The Scribestar developers understood the concepts well, so needed support and training from DeltaXignia to be very specific: sharing best practice and specifics about integrating the product. From the outset they commented that the DeltaXignia team were very knowledgeable and helpful, and worked with them to add new capabilities into the development roadmap.
Supporting Key Capabilities
One of the most important capabilities of Scribestar is to give reviewers a clear and comprehensive view of changes made to the document, or those parts that they are responsible for. With DeltaXignia, Scribestar maintains a complete audit of all changes and can display them in a variety of ways.
Through the regular editing and reviewing screens, users can see changes marked and click to expand the details. Specific blackline or redline reports can also be generated as pdf documents, highlighting specific sets of changes for people in different roles.
To minimise noise in the review process, changes to formatting are suppressed for those users who do not need to know about them.
Scribestar also tracks specific texts within a document that have particular legal significance (known as ‘checklisting’). With DeltaXignia they can identify changes to these texts, including previous versions and who made each change. This information is summarised on-screen for reviewers and bundled into a pdf report for the regulator.
The Results
Earnings produced 24 months sooner for investors
By integrating the sophisticated compare functionality from DeltaXignia into their product, the Scribestar developers were able to focus their time and attention on functionality that is specific to their market niche. Their CTO estimated that it enabled them to bring their product to market and start generating earnings for their investors 12-24 months sooner than if they had diverted resources to developing the compare functionality in-house.
The Scribestar platform is now being used by leading UK firms to prepare high profile market prospectuses. They have been accepted into the London Stock Exchange Group’s ELITE Programme for ambitious, high-potential companies.
“DeltaXignia provided us with a straightforward way of integrating a rich document comparison feature into our SaaS platform. We spent some time researching the market and found DeltaXignia was by far the best product on the market in terms of functionality and robustness.”
Niels Montanana, Chief Operating Officer, Scribestar
Let's Deal with Change
DeltaXignia’s products are used throughout the world, from SMEs to global enterprises. Our comparison and merging software transform the way our customers handle change in their documentation and data. If the above story resonated with your own challenges get in touch with us by either booking a discovery call or filling in our contact form.
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