Prodigal Technologies Achieves IRS 1075 Compliance Rapidly with Akitra®'s Advanced Agentic AI-powered Compliance Automation and Trust Center
Achieving Seamless Compliance While Saving Time and Reducing Costs
Prodigal Technologies, a leader in innovative financial solutions, sought to expand its market presence while ensuring stringent compliance with IRS 1075; an essential requirement for organizations handling Federal Tax Information (FTI). Given the complexity of IRS 1075, which demands rigorous data security, encryption, and auditing controls, Prodigal Technologies needed a strategic partner to streamline its compliance process and mitigate the risk of non-compliance.
Akitra®, a leading Agentic AI-enabled, Next-generation Compliance Automation platform, partnered with Prodigal Technologies to simplify their IRS 1075 compliance journey and ensure a robust security posture. As part of the solution, Akitra®’s Trust Center provided a centralized platform for Prodigal Technologies to easily share compliance documentation with customers, reducing manual effort and improving transparency.
The Challenge
As Prodigal Technologies aimed to strengthen its position in the financial industry, achieving IRS 1075 compliance became a critical priority. However, the path to compliance was filled with challenges that demanded a more efficient approach. These challenges were:
Meeting IRS 1075 Requirements: Prodigal Technologies needed to align with the strict data security standards of IRS 1075, requiring thorough documentation, frequent audits, and adherence to federal regulations; posing challenges for their team.
Managing Time-Consuming Documentation: Prodigal Technologies struggled with the manual process of sharing compliance certificates and reports with customers, resulting in time-consuming back-and-forth communication. They needed a centralized platform to streamline these interactions and provide easy access to compliance information.
Continuous Monitoring and Risk Management: Prodigal Technologies required real-time visibility into compliance, allowing them to address risks proactively and automate workflows to maintain IRS 1075 standards as they scaled.
Customer Demand for Compliance: Customers increasingly demanded IRS 1075 compliance to ensure secure handling of sensitive data, making certification essential for maintaining trust and competitiveness.
Akitra® was instrumental in our journey to achieve IRS 1075 compliance; right from day one. Their team guided us through every step, from choosing the right auditor to customizing controls and managing integrations. Thanks to their expertise and support, we achieved certification in no time, a process typically taking six to eight months. This success has opened up new business opportunities for us with both existing and new customers.
Sangram Raje
Co-Founder & CTO, Prodigal Technologies
Akitra's Solution
To help Prodigal Technologies achieve IRS 1075 compliance efficiently, Akitra® provided a tailored, Agentic AI-driven solution that simplified complex processes and empowered their team with the right tools and expertise. These solutions were:
Automated Compliance Platform: Akitra®’s Agentic AI-driven platform centralized IRS 1075 compliance for Prodigal Technologies, automating documentation and evidence collection, making compliance tracking easier.
Customizable Control Implementation: Akitra®’s compliance specialists guided Prodigal Technologies through IRS 1075’s complexities, and helped set up the Trust Center, providing a single platform to display their compliance status and easily share required documents with customers.
Real-Time Monitoring: The platform’s real-time monitoring helped Prodigal Technologies identify and fix compliance gaps quickly, keeping them audit-ready.
Expert Support: Akitra®’s compliance specialists guided Prodigal Technologies through IRS 1075’s complexities, providing strategic advice for a seamless compliance process.
The Result
With Akitra®’s Next Generation Agentic AI-powered Compliance Automation Platform, Prodigal Technologies not only met the stringent requirements of IRS 1075 but also streamlined their compliance process. The combination of automation, real-time insights, and expert guidance led to a faster and more efficient path to certification, providing measurable benefits across their operations. Here’s what they achieved:
Successful IRS 1075 Certification: Prodigal Technologies achieved IRS 1075 compliance with Akitra’s support, meeting all requirements for handling Federal Tax Information (FTI) and expanding its market reach.
50% Reduction in Documentation Time: Akitra®’s automation capabilities, combined with the Trust Center’s ability to directly share compliance documents with customers, significantly reduced the time and effort Prodigal Technologies spent on managing customer requests. The Trust Center enables customers to easily access and request documents, further streamlining their operations.
Improved Risk Management: Real-time monitoring tools enabled Prodigal Technologies to proactively address compliance risks, maintaining a strong security posture while focusing on innovation.
Significant ROI: Akitra®’s automated platform delivered a 35% cost reduction in compliance management, reducing manual effort and allowing for strategic resource allocation.
Increased Customer Confidence: Achieving IRS 1075 compliance enhanced Prodigal Technologies’s market credibility, attracting customers who value strong data security and regulatory compliance.
Akitra Andromeda® streamlined our IRS 1075 compliance process, allowing us to navigate all 453 controls with ease. What would have taken us months to handle manually was accomplished swiftly and smoothly. The platform’s intuitive design, seamless integrations, and the Trust Center’s ability to easily share our compliance status with customers made all the difference.
Prashant Banthia
DevOps and Infosec lead, Prodigal Technologies
