How to Create Efficiencies in Your Risk Management Workflow
07 January 2022 10:30
The risk landscape is far more complex than just a few short decades ago. For starters, people are getting their news from more sources than ever before. The birth of the 24-hour news broadcast was only the beginning. Now, thanks to the internet and the rise of podcasts, online tabloids, and forums, the reputational risks to your organization have arguably never been greater. And when negative coverage on your organization does strike, social media is there to make sure it catches fire.
Your organization must also contend with evolving regulatory risks surrounding bribery and corruption, money laundering and terrorist financing, and forced labor. And as third-party networks grow increasingly global, the greater your risk of exposure to Political Exposed Persons (PEPs), association with someone on a sanctions list, or critical supply chain disruptions becomes.
To stay on top of so many types of risks, your risk management capabilities must be just as dynamic as the risk landscape is complex. And your risk management workflow must be efficient.
That’s where Nexis® Entity Insight comes in. As a risk monitoring solution that delivers continuous, real-time visibility into potential risks across your critical business partners, vendors, customers, and suppliers, it makes your risk management workflow efficient enough for you to respond to threats proactively and either mitigate fallout or prevent it entirely.
How Nexis Entity Insight makes your risk management more efficient
The PESTLE analysis framework
Nexis Entity Insight was designed to be a cost-effective, self-service risk monitoring solution that can be customized to your organization’s exact risk management needs. It uses a PESTLE analysis framework (People, Economic, Socio-cultural, Technological, Legal, and Environmental) to rapidly identify emerging risks across a range of factors, so that you can act swiftly and confidently, backed by enriched, curated datasets from our unmatched source universe.
The PESTLE analysis framework is built on a risk scoring system, which you can customize to meet your exact risk monitoring needs. Whether you want to keep a close eye on shifting compliance requirements, align with ISO 37001 certification standards, or stay on top of potential supply chain disruptions, you simply adjust the scoring system to match your highest priorities. Then, Nexis Entity Insight continuously monitors for risk across a vast collection of global news, market, and industry sources—many of which are not available on the open web—along with sanctions and watchlists, PEPs lists, and Experian® business data.
A risk monitoring dashboard
Nexis Entity Insight displays its results in a highly visualized, intuitive analytics dashboard for a clear view of emerging risk. Using the dashboard, you can:
- Conduct ongoing monitoring and quickly identify issues that pose potential risks with the use of color coding and data visualizations
- Capture a quick, snapshot view of potential third-party risks and emerging risk trends
- Easily spot red flags that indicate a need for an enhanced due diligence check
- Set up and receive alerts for when you need to take immediate action
Risk monitoring data integration
You can also improve risk awareness throughout your organization by using Nexis Entity Insight to integrate RSS feeds into your internal CRM, SCM, and other business systems. This enables you to use risk monitoring for actionable business intelligence that can actually help grow your business as well as protect it.
Create new efficiencies in your risk management workflow
When you empower your risk management workflow with the continuous risk monitoring of Nexis Entity Insight, you can move proactively to minimize or avoid the reputational and financial risks your organization faces.
Make informed, proactive decisions to better protect your company and meet the ethical expectations of regulators, investors, and consumers. Learn more about Nexis Entity Insight here
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