LexisNexis
is pleased to provide you with yet another tool to manage your risks and
provide exceptional client service: Due Diligence Dashboard!
What is Due Diligence Dashboard (DDD) and what does it do?
LexisNexis®
Due
Diligence Dashboard (DDD) empowers law firms to mitigate their financial, legal, and reputational risk and reduce liability by understanding their
prospects, clients, litigation opponents, IPO/M&A targets, and other
business associates in a quick and comprehensive manner. With this
web-based research application, users can efficiently investigate companies and
individuals, explore their affiliations, and develop a comprehensive profile --
all with a single search.
How will it benefit your firm?
People don't always tell the truth -
Due Diligence Dashboard does. Unethical or financially strapped
clients can take a tremendous toll on a firm's bottom line and
reputation. Before taking on new clients, firms should protect their
interests by conducting in-depth due diligence.
With DDD, a single search can provide you
with a complete picture of a company or individual via materials such as
negative news; litigation in which the client is or has been involved; company
financials and credit; public records including bankruptcies, liens, and
judgments; and regulatory watchlists. Alerts enable firms to monitor
their clients for any red flags that may arise along the way.
-
Risk mitigation: Firms can mitigate financial, legal,
and reputational risk by knowing with whom they do business.
-
Comprehensive & efficient: A federated search
across news, public records, company profiles, legal, and regulatory records
eliminates the need for firms to perform separate searches of individual
databases one-by-one.
-
Highly targeted content set: Content is
pre-selected based on relevance to the due diligence process, which takes the
guesswork out of finding the right sources.
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Ease-of-use: Search intelligence is built-in
behind-the-scenes, ensuring precision results without requiring search
expertise.
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Timely: Alerts help you monitor important
changes in financial health, litigation activity, and potential conflicts of
interest that may arise after client intake.
This
product will assist the client intake team at your firm responsible for vetting
new clients and new matters. DDD will enable this group to check for
financial stability, conflicts of interest, and to avoid the legal penalties,
costs and reputational damages that can result from connections with unethical
business partners.
DDD
will allow firms like yours to research potential clients and other associates;
compile and organize detailed due diligence reports; maintain an audit trail
documenting their research; and create alerts that monitor entities for
pertinent changes. No other LexisNexis offering combines news,
business/financial content, public records, sanctions, regulatory checks, and
litigation filings into a single solution for vetting companies and
individuals.
Why conduct due diligence?
To avoid risks, including:
o
client
solvency issues
o
failed
business transactions
o
slow
payments from clients
o
supply
chain disruption
o
legal
judgments/fines
o
lawsuits
o
regulator
probes
o
sanctions
due to compliance violations (with FCPA, SOX, Dodd-Frank, UK Bribery, etc.)
o
brand
value decline
o
customer
loss due to scandals and bad PR
When should a firm conduct due
diligence?
-
When
accepting a new client or matter
-
When
prepping for litigation
-
When
representing clients in a merger, acquisition, public offering, or other
transaction
-
When
establishing business relationships with any third parties, including:
suppliers, vendors, service providers, resellers, distributors, channel
partners, contractors, and other agents - particularly overseas
LexisNexis® Due
Diligence Dashboard (DDD) empowers law firms to mitigate their financial, legal, and reputational risk and reduce liability by understanding their prospects,
clients, litigation opponents, IPO/M&A targets, and other business
relationships in a quick and comprehensive manner. With this
web-based research application, users can efficiently investigate companies and
individuals, explore their affiliations, and develop a comprehensive profile --
all with a single search.
Your firm can run comprehensive, in-depth
due diligence research on a company or individual - all in a single search by
simply filling in a form and checking off which databases to include.
This is the only LN product that allows you to run a single search and retrieve
results covering the legal, news, public records (including OFAC, PEP and other
watchlists), and company profiles.
How will this tool provide better client service?
When
your law firm is well informed about its own clients and business partners -
via the due diligence process - you can better serve all of their
customers.
For
instance, with a thorough due diligence process in place, your firm won't
likely suffer a reputational blow that could come with an investigation from
regulators concerned about the shady dealings of a person or company tied to
the firm; you'll avoid such ties by vetting all players. By maintaining
your public image for ethical behavior and quality, the firm's client's
benefit, for one reason, they don't have to consider switching firms due to a
scandal.
A firm's clients also benefit from the firm's due diligence practice when
represented in litigation (and the firm has thoroughly investigated the
opposing parties) or business transactions, such as IPOs or M&A (and the
firm has a deep understanding of all players, risks, and liabilities).
How can I find out more information about Due Diligence Dashboard?
Contact
your LexisNexis Representative today! New customers can call (800)
227-4908 or request
more information online.
Happy Researching!