Comprehensive third party or supplier risk management screening to avoid problems

Global business operations involve dealing with a plethora of partners, vendors, and other business partners. As a result, the company is at risk from regulatory, financial, strategic and reputational threats due to a very complex network of third parties. Thus, it is necessary to get important business intelligence on the third parties to ward off such threats. This is called third partyrisk management.

The Lexis Nexis Research solutions offer effective tools to get complete information about third-party entities and manage them easily. Some of the tools have been discussed here.

Diligence spotter

LexisNexis HongKong diligence spotter searches international sources for Company information databases or individual information. The third parties are screened against Interpol notices, PEPs, and sanctions. The tool also generates AML and MiFID risk profiles. Complete risk assessment is done to identify potential risks that require greater research.

The LexisNexis Supplier risk management tool also enables automatic batch screening of current and new third-party entities. Automatic batch screening refers to the process of automatic checking of the third party entities against official sanction lists, Interpol lists, and other international lists. Thus, their credentials are verified for the benefit of the client company.

The third parties are classified by geographical exposure, activity, origin of clients and KYC compliance. Far reaching case administration alongside work process and review devices help in influencing the screening to process much more effective.

Integra Check

If the risk level indicates deeper research on the third party entity or the diligence spotter identifies a risk, then the third party risk management tool comes into play. This tool enables further investigation into the concerned third party entities for more thorough screening. This ensures that integrity and compliance risks are eliminated.

LexisNexis Entity

LexisNexis Entity is a cost-effective part of LexisNexis Supplier risk management system. The Entity gives access to a wealth of market intelligence which is not available on the open web. This is possible because it does not use conventional search engine method for research.

LexisNexis Entity uses PESTLE framework for Supplier risk management. PESTLE analysis framework uses Political, Economic, Socio-cultural, Technological, Legal and Environmental factors for media monitoring and research. The client companies are provided analytics and result visualizations to get an apparent picture of the third party networks and supply chains. Thus, the companies can identify and manage the risks in a more efficient manner.

The sources of research and monitoring include news, industry and trade journals, business information or journals, regulatory information, legal publications sanctions, PEP lists and more.

The company can customize risk analysis functions of the tool to identify the most crucial risk concerns that affect it.

Regulatory compliance

Compliance Solution with the local and global rules and regulations is more difficult for companies engaged in international trade. LexisNexis helps in protecting the business interests by the following methods.

•    Regular monitoring of suppliers and third-party risks to ensure complete compliance with the regulations.

•    Business information of third-party entities which help the company in determining their track record and presence of litigation.

•    Regular monitoring of Regulatoryinformation to ensure that the client company is always aware of the changes in the rules and regulations from time to time.

Financial risk in the form of fines, settlements, and others is averted by preventing compliance failures.

Highlight Features of Third Party Risk or Supplier Risk Management Program

It is a generally accepted fact that you have to put many great activities for building big reputation, yet just a single terrible thing could drive you to lose everything. This is the reason why supplier risk management program is implemented in business organizations. 

This particular program tends to provider administration prerequisites relating to administration of corporate governance, compliance solutions, risk management  and performance programs. These viable and far reaching arrangements enable business firms to merge provider GRC data in the association, lessen down expenses and lighten dangers found in provider supplier base.

Without a doubt, today the vast majority of the business associations are adopting  supplier risk management or third party risk management programs for boosting business execution. Truth be told, it acts as an impetus for increasing enhanced merchant execution by discovering every single conceivable hazard and dispensing with them by actualizing successful process changes. A portion of the featured highlights of these administrations are said beneath. Experience them to grow profound comprehension towards them.

• ·       Efforts are created to adopt unified approach for managing risk, governance, performance and  compliance risk management programs on supplier base.  

•     The risk, compliance solution and performance programs are automated in order to ensure that the defined standards are followed consistently and effectively.

• Reducing supplier risks through automated and proactive monitoring of supplier information.

• It facilitates you to perform business activities through customer driven scoring model.

•   Apparently, automated expiration notices and reminders are used for improving accuracy and compliance.

•  You will be able to make benefits from automated assessments of supplier and internal personnel.

•  KPIs and libraries of the standardized assessments are proposed by these services.

•   All the essential information related to scoring, supplier reporting and dashboard capabilities are captured.

• In case, if the organization identifies any third party risks or supplier risks involved, then efforts are made to apply predetermined correction action plans including deadlines and ownership that is easily monitored and tracked. This ensures supplier performance.   

The efficient supplier risk management needs you to make use of centralized and integrated technology platform for puling data storage resources containing supplier data. Most of the companies invest a lot in hiring effective technologies that can help them for coming out of the difficult situations.

The centralized third party risk management or supplier risk management programs help in mitigating supplier risks, supplier compliance solutions and boosting overall supplier performance. Not only this, these specialized program also support in building good reputation in the marketplace. What else one should look for after getting well-organized and managed supplier performance program! Invest in the best available supplier management services.

Media Industry Insights Uncovered by Social Media Monitoring and Business Research

The ascent of web-based social networking has gotten a critical change in the conventional media scene. Could 2016 be the year media associations begin sending new plans of activity and improved substance assignment methods to empower them to get to the inverse side of this change?

Burrowing through the LexisNexis research and leading our examination utilizing Nexis® and Media Monitoring, we reveal the master forecasts for the media business alluded to in our 2016 industry patterns report. The following are the portions of these expectations:

 1. Social News Gathering—2016 may well be characterized as they year that witnesses elevated concentrate on the utilization of social media monitoring tools for get-together media bits of knowledge, realities and onlooker accounts. We expect that newsgathering utilizing web-based social networking will be as effortful as far as time and assets as taking a shot at the yield of a story.

2.Context is King—Brand building and client association brings another way with web-based social networking organizations utilizing the maximum capacity of their on the web and portable channels. As effective Media Intelligence Solutions, joining of advanced media stages with the conventional media blend can help boost mark affect.

 3.Rebirth of Shoe-Leather Reporting—Technology appears to have obtained from out-dated tricks, wherein an old-school news coverage guideline of on-scene revealing, spoke to a key indicator of news content that is well on the way to create footing with pursuers and watchers. In 2016, LexisNexis  research tool  may very well be the actualize to check gathering of people engagement and site hits, being the new time measures of client engagement.

4.Extending Media to Physical Experiences— In the Smartphone slant, where shoppers are investing noteworthy energy in their cell phones, they tend to feel all the more by and by associated with their most loved craftsmen, stars, competitors and even different fans. In light of our investigation utilizing the lexis nexis research solutions about arrangements, immediate or live association with such superstars is the present request from buyers. 

5.VR Meets portable Journalism—2016 is additionally a year that demonstrates the ideal utilization of Virtual Reality by media organizations. Virtual Reality (VR) has been existing for a long while however its business acknowledgment through numerous applications for the two customers and organizations is novel and new.

6.Shift to Value in Social Media— LexisNexis Research distinguishes that media organizations are working towards acquiring a synchronization between the substance while displaying their image on all stages and , yet additionally that their substance synchronizes with purchaser conduct. It is essential to work with advertisers so each channel is being utilized for the correct sort of buyer collaboration.

7.Newsroom Integration— media-monitoring intelligence is taking another shape wherein the attention is on the embodiment of the story. Rather than packing excessively data into a pre-bundled design, Media houses are picking to pick the correct social media monitoring  tools and configuration for conveying the story to convey the substance of the story.

Without a doubt, the social media industry has been essentially affected by advanced advances. 2016 may simply be the year when new and imaginative methods for working together will turn into a pre-imperative to stay pertinent all through this change.

Newsdesk: An Advanced Media Monitoring And Analysis Tool

Nowadays media plays an essential role in the growth of an organization, and there is always a dire need for analytics tool that helps you to get the vital information. It is not possible for you to search any required information from thousands of resources. So they media monitoring tool that will provide them the required news which will indicate the current competition, upcoming trends and especially performance of the product. 

You can use filters while searching a particular topic but sometimes this process shades out many vital resources. There are some processes where you need to combine various tool to extract all the required information from different resources. But this kind of news monitoring process takes an enormous amount of time which is not feasible for organizations. So in these situations, LexisNexis Newsdesk comes into play which helps you quickly dig deep on the web and get the news as well as other information that pertains to the organization.

Newsdesk from LexisNexis HongKong has become a boon for many organizations because it allows the group to share critical statistics and information among colleague. However, this media monitoring tool comes prepared with all security concerns, and all the information that is shared contains copyright. It allows the employees to demonstrate to their superiors how they are meeting the desired goals and it is shown in the form of data visualization.

Newsdesk, not all only serves an essential news monitoring tool but also serves as a well-organized social media monitoring tools that grabs your information from 2.3 million posts on a daily basis. This influential tool works as a single platform that collaborates with news, TV, radio coverage, social media, and printed press.

This tool stacks 2.4 million news articles on a daily basis so when you get your information, it comes after proper filtration from millions of articles. It gives you the opportunity to cover various information regarding current regulatory information that concerns your business operation. 

It allows you get access to a huge number of topics on international market which gives the company to stay exposed all kind of information. It is a way of exploring new brands that might help in the growth of the organization. All the info is stacked in company information databases so that you can access them anytime you want.

Newsdesk serves as a crucial byproduct of LexisNexis Business Insight Solutions HK, and it offers numerous features to its clients. 

• ·         It extracts your required information from 300 million current news articles spread across different platform.
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• ·         The real-time feature allows you to cover thousands of print sources, online news, and TV.
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• ·         It easily refines topics with the help of efficient search scrutinizers which are specially designed for extracting business information.
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• ·         It stays updated with all favorite social media  montoring tools  so that you can explore emerging trends and get information about upcoming trends.
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• ·         This powerful tool monitors millions of news articles on a different platform which is entirely spam-free and fully searchable.
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• ·         You can fully customize the monitoring tool to receive news from particular sources.
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• ·         All the analyzed data along with charts are stored in Excel Sheets.
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• ·         It allows you gain automatic mode for email alerts and sending company's newsletter along with the required data.

This tool can be used by organizations at any level and will work in the same way in any part of the world. 

Know how a third party risk assessment company will help you in recognizing fraudster suppliers

With the inception of the internet and IoT, the days are gone when people do businesses in real world with physical customers. Now, most of you have businesses over the internet. No matter, in which business you are, you must need a professional’s help.  

Doing online business is fun, but sometimes it also brings several types of hindrances regarding services or supplies. To solve such problems in a very easy way, all you need to contact a professional Business Information.

To be successful you just need to take into account potential risks with vendors, or you can say that a supplier risk. This is the very famous face of any business. Suppose, if your provider is not delivering your services or goods on time then, in this case, you could lose your potential customers. This is the place where you need to hire a Third Party Risk Management company. By hiring such services, you can protect your business from different types of third party risks by getting Business information. Few of them are listed below:

l  Supplier risk

l  Financial risk

l  Credit risk

l  Legal risk and so on.

In the present scenario, Supplier Risk Management companies’ risk assessment includes below given factors:

Financial stability: It is one of the most important assessments done by the administration companies. It is the only factor due to which most of the small or even big businesses shut down. To know the financial health of your supplier, your hired management company’s professional will ask few questions to the supplier and provide Business Information. 

By answer given by supplier, this assessment would come to an end. Questions might be of following types: is supplier ever reach near possible bankruptcy; is supplier ever cheated there any client by not paying them; few questions would be related to low-profit margin or debt load.

Transportation: Another significant factor considered for supplier risk assessment. Most of the risk management firms consider factors such as means of transportation, weather-related issues or natural disasters during goods transportation, alternate routes, and alternate service providers. In addition to this, insurance of goods during transit, transportation costs, and timely delivery schedules are few other factors needed for supplier risk management. 

Legal issues: There are several types of legal issues that need to be overlooked during co-ordinating with a supplier. Few important ones that should not leave at any cost are compliance solution and regulatoryinformation. Your hired professional will talk to your supplier on sensitive legal issues and try to find out whether they have violated the legal terms in the past or not.

Moreover, they ask for legal pending notices if they found your supplier risk management. Violation of warnings and fines could affect your supplier’s ability to match with your requirement. Sometimes, due to few significant regulatory issues providers shut down their businesses or pay heavy fines which affect their ability to supply goods to their potential clients.

Labour stability: Most of the risk assessment reports are made without assessment on labour stability. Factors such as legal status of workers, union contracts, availability of employees as well as even succession planning could affect a large or small company's skill to supply your business.

Monitor, Analyze and Share News: LexisNexis Newsdesk Hongkong

Newsdesk encourages you look, examine and share market intelligence curate from the most far reaching accumulation of news, communicate and web-based social media sources in the business.

Inquiry over numerous substance sorts in a solitary stage.

Break down outcomes to distinguish patterns and experiences. Analyzing and monitoring your information with Newsdesk Media Montoring Solutions made simple on account of upgraded representation apparatuses, information enhancement and ordering innovation.

Offer outcomes inside your association with customizable tools

Advantages

Accelerate your research

Cut through the messiness of data with cutting edge seek apparatuses intended to enable you to reveal applicable, significant bits of knowledge—all from a solitary, simple to-utilize stage.

Stay in the know

key news  monitoring and events that may affect your association so you can settle on information driven choices with certainty.

Spot trends quickly

Newsdesk helps in Analyze search results using improved analytics for notion investigation, offer of voice, geo scope mapping, custom investigation and that's just the beginning.

Collaborate more effectively

Use easy to use and adaptable perception, distributing and conveyance apparatuses to share business-basic data over your association.

Go Beyond Media Monitoring

Where is your image in the market place and where is it going? What's going on with your rivals? LexisNexis Smart Indexing  technology– from authorized sources and the open Web – enhances your capacity to deal with the unending stream of information from news, communicate, online networking and print. Our simple to-utilize interface encourages you to find, dissect and share noteworthy bits of knowledge so you can make more brilliant, information driven choices.

LexisNexis Newsdesk covers authorized news (print and on the web), open Web (sites, websites, gatherings, remarks), communicate (TV and radio) and online networking all inside a media monitoring. 

Highlights

Find out what’s buzzworthy

LexisNexis Newsdesk enables you to rapidly look through our expertly curated content gathering including authorized news and business data, and additionally key web-based social networking channels and Web locales including thought pioneer online journals, industry discussions, Twitter, Facebook, Google+, YouTube and the sky is the limit from there. The outcome? Close ongoing observing of the buzz around organizations, brands and contenders – crosswise over 75 dialects and 100+ nations – so you can react rapidly.

See information in an unexpected way

With user-friendly analysis and visualization tools, LexisNexis Newsdesk causes you transform data into simple to-process outlines that can be implanted on organization destinations or added to reports to guarantee everybody gets the comprehensive view.

Capture more relevant results

Our substance enhancement through labeling, ordering and content standardization – alongside the publication endeavors of topic specialists who help give setting – guarantees that your LexisNexis News Montoring  look into prompts focused on, noteworthy data.

Get the right news to the right people

Sharing pertinent media intelligence just got less demanding. LexisNexis Newsdesk enable you to set up RSS feeds, news alarms and marked bulletins to share over your association and customer base. . LexisNexis Newsdesk Media Intelligence can in like manner be fused with passages and CRM structures—with full production control – to promise you are serving up the most huge substance possible – wherever it is required

Tailor the solution to fit your needs

Unite your association's stamping in the LexisNexis Newsdesk interface and select from six dialects decisions – English, German, French, Spanish, Dutch and Russian – to influence a truly steady customer to experience. Likewise you can make easy to-use tweaked and shared dashboards to redesign customers " ability to quickly find the information they require.

Enhanced Due Diligence from LexisNexis – One Stop Solution to Grow Business

Due Diligence allows one to create a subjective opinion and to review the facts as it is. This is sometimes a lot easier said than done, and the standard of work used in diligence needs to refer straight to the reasons you are buying a business and what you may reckon as the key pitfalls. 

When it comes to this essential service, then LexisNexis Hongkong is the best among all other competitors in the market. They are not only an organization that provides enhanced due diligence intelligence to make your money safe but also keeps a mile away, protected from money laundering. Well, let’s know why you need this services and how important Lexis is for your business.

Benefits of diligence service

Being a purchaser or entrepreneur looking to buy a small business, you are entitled to see all financial records and research that is firmly related to the transaction of the company. There are some steps one can pursue to make sure the right information is compiled and that it can conform to a minimum average so that you can make the final decision. By the end of the legal due diligence process, you need to understand the overall economic health of the entity you plan to purchase, its leads, levels of competition and the current market.

The successful investor simply cannot rely upon the information found in the standard catalog of "dollars and dates." While rigorous analysis has always been necessary, regardless of the economic climate, it is especially important in today's marketplace. Using the enhanced due diligence service you can certainly grow your business safely and securely.

Why is LexisNexis the best?

There are plenty of reasons that will lead every small or big, new or old investor, entrepreneur towards the LexisNexis. Some of them are mentioned below.

Corruption and anti-bribery help -when it comes to doing a successful business, then the most important thing that you need to maintain, is your reputation. Lexis Diligence service allows you easy access to international legal court cases to keep your authorities, and you informed about litigation that may disrupt or potentially harmful for your business.

Report building becomes a lot easier – making an important decision is an essential task. A good report and market survey can lead your business to the zenith of success; whereas a bad one can drive you to the verge of destruction. Well, with the LexisNexis, which is a vendor due diligence, you don’t have to worry because all of your reports will be generated using the recent updates, market trends and looking into your competitor’s step.

Access to the premium content – accessing to premium content like latest research papers, surveys, finding become a lot easier with the LexisNexis diligence service. You can access all of this with a single click and moreover, read out over thousands of newsstands available in 75 different languages.

Reduce reputation risk - Screening third party risk management with the help of LexisNexis is easy because you can check background and even deep search personal information about third parties or third party risk management. Enhanced Due Diligence will not only help you to keep yourself away from any legal dispute but also guide you to choose those sources which are beneficial for your business.

Well, with the help of LexisNexis Business Insight Solutions HK growing business will be beneficial. It will guide you in your every step.