LexisNexis® Entity Insight, a proactive risk management tool driven by a PESTLE-analysis framework, will help procurement, supply chain and compliance professionals stay alert to potential business risks.
LexisNexis® Business Insight Solutions (BIS) —a leading provider of content and technology solutions— today unveils LexisNexis Entity Insight. A supply-chain and third-party risk media monitoring solution, LexisNexis Entity Insight tracks comprehensive market intelligence and premium news sources that are often unavailable on the open web to help companies capture an in-depth view of reputational, regulatory, financial and strategic risks.
Addressing the elevated risk exposure companies face due to complex, global supply chains, third-party business relationships and the rapidly evolving compliance landscape, LexisNexis Entity Insight helps companies better anticipate supplier and third-party risks to complement conventional credit scoring. The solution features a proprietary scoring algorithm based on industry-standard PESTLE analysis (Political, Economic, Socio-cultural, Technological, Legal and Environmental). Companies can tailor the PESTLE scoring to align with their unique risk-based approach, ensuring highly-relevant results that enable fast, timely identification of potential risks.
Results from ongoing risk media monitoring are easily integrated with supply chain management (SCM), customer relationship management (CRM) and other internal systems via RSS feeds. In addition, LexisNexis Entity Insight applies color coding based on threat level to ensure that individuals across the enterprise have immediate insight to help drive more proactive decision-making.
By offering improved visibility into potential risks—ranging from natural disasters and product recalls to regulatory changes and non-compliance with anti-bribery and corruption, financial crime or modern slavery laws and standards—LexisNexis Entity Insight empowers companies to make decisions about critical suppliers and third parties—in near real-time—to minimize supply chain and wider business disruption.
LexisNexis Entity Insight further strengthens the LexisNexis portfolio of solutions designed to help companies screen, monitor, protect and grow their businesses amidst the heightened compliance and ethical expectations of regulators, corporate stakeholders, strategic partners and consumers.
Usable quote: “Companies face increasing regulatory and ethical scrutiny, alongside rapidly changing market forces and it is critical to ensure business risks are being proactively managed. LexisNexis Entity Insight is an integral part of a supplier and third-party risk monitoring process to help ensure companies meet their strategic goals.” Mark Dunn, Segment Leader Entity Due Diligence and Monitoring, LexisNexis Business Insight Solutions.
LexisNexis Legal & Professional is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. LexisNexis Legal & Professional, which serves customers in more than 175 countries with 10,000 employees worldwide, is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries.
LexisNexis Business Insight Solutions (BIS) is a business unit within LexisNexis® Legal & Professional serving companies and organizations across the globe, offering premier news, corporate information and public records through a portfolio of solutions, including the flagship and award-winning Lexis Diligence®. This unique combination of market-leading content and innovative technology helps business professionals make more insightful decisions by offering them quick and easy access to the latest news, facts and insights regarding their brand, clients, prospects, competitors, suppliers and industry trends.