Disrupting data intelligence sourcing

04 March 2019 00:00

Acknowledging that stakeholder inputs have an impact on business success requires that organisations gather information from both internal and external participants.

This data provides valuable insights into trends, expectations and risks, enabling informed decision making and appropriate interventions.

“Building and maintaining trust with stakeholders is a pivotal yet challenging part of business operations. The evolutionary nature of what drives success – what employees, shareholders, customers, suppliers, legislators and society require from organisations - provides for a challenging landscape,” says Bosman Stramrood General Manager: Lexis® GRC at LexisNexis South Africa.

Yet the costs and time resources required in gathering data from stakeholders in order to meet their expectations, concerns, needs and interests has led organisations to outsource this function to independent companies, or neglect it entirely.

Innovators in the legal technology and compliance space, LexisNexis South Africa are set to disrupt this valuable aspect of business with the launch of a new functionality.

“The launch of Lexis GRC Surveys at the end of November 2018, as a new module to the Lexis GRC platform, empowers companies to design, build and disseminate unique surveys quickly and easily,” says Stramrood. “Lexis GRC is an integrated and comprehensive governance, risk and compliance software solution that executive boards can rely on. The addition of this user-friendly form builder and mail distribution system means that limited technical knowledge is no longer a drawback. The system is able to create basic surveys or split larger surveys into multiple pages. Templates and reports can be customised to meet corporate identity requirements,” he adds.

This tool empowers human resources, risk, compliance and marketing officers to create qualitative and quantitative questionnaires that speak to their varied requirements such as risk identification, appetite and tolerance, awareness, safety, environment and compliance.

Surveys can be distributed to internal or external contact lists allowing the organisation to gather responses and analyse results. With a built-in spam score checker, the platform’s mail system keeps track of contacts, invalid email addresses and ‘unsubscribes’. Detailed analytics and reports on mail delivery and survey responses are provided to the user.

Responses are available in real-time as surveys are completed online using either a computer, tablet or smart phone. Respondents can track progress, save and continue as time allows – especially when working on larger surveys - making this system extremely user-friendly.

Results and findings can be generated via automated standard reports or filtered to segment data, informing effective governance, risk and compliance management as well as strategic planning and decision making. These actions can now be based on informed business intelligence, acknowledging the value of stakeholder inputs in the best interests of organisational success.

“Integrated thinking connects resources and relationships to drive business success. These perspectives need to inform strategic development, risk management and organisational governance,” says Stramrood. “Lexis GRC Surveys provides easy access to unbiased data, acknowledging how stakeholders affect the worth of an organisation and enhancing the ability to create value.”

For further information visit https://www.lexisnexis.co.za/grc