Nexis Solutions and Blue Prism Team-Up to Help Clients Mitigate Third-Party Risk and Automate the Entity Due Diligence Process

Partnership Sets Gold Standard for Robotic Process Automation (RPA) Capabilities

The need for organizations to mitigate an evolving array of third-party reputational, regulatory, financial and strategic business risks, has driven an innovative partnership between Blue Prism (AIM: PRSM) and  Nexis® Solutions. The partnership will see Blue Prism’s connected-RPA platform integrated with Nexis Diligence™, in order to help organizations improve the efficiency and effectiveness of their entity due diligence process with intelligent automation capabilities.

Working together, Blue Prism RPA and Nexis Diligence accelerate screening, due diligence analysis and reporting. The digital workforce searches global data sets, retrieves results and compiles reports from Nexis Diligence into customized formats, all the while working seamlessly alongside business stakeholders and decision makers. The ability to streamline due diligence research on customers, vendors and other third parties helps improve the overall regulatory compliance of any organization. Blue Prism RPA and Nexis Diligence together helps mitigate business risks, enhance operational efficiencies while supporting an organization’s strategic priorities.

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“We are working with partners who are using AI, analytics and other leading technologies to help mitigate a wide range of ethical breaches of conduct,” says Peter Walker, CTO for Blue Prism EMEA. “Nexis Solutions is at the forefront of this battle and they are using Blue Prism to drive intelligent automation solutions across mission critical processes in some of the most highly regulated industries on the planet. We are proud to be working with a partner that shares the same vision and dedication for delivering customer value.”

Nexis Diligence is a cloud-based solution that helps uncover potential risk exposure from customers, vendors and other third parties by bringing together the key data in one place—for performing comprehensive, third-party due diligence checks. The search and viewing results can be exported to create customized reports that maintain audit trails of all due diligence investigations. This integration between Nexis Diligence and Blue Prism will also be made available shortly to customers via Blue Prism’s Digital Exchange (DX), an intelligent automation “app store” and online community, as a “Knowledge & Insight” skill.

Together, Nexis Diligence and Blue Prism RPA can help businesses achieve the following enterprise benefits:

• Increased efficiency: Reduce time-consuming, labor intensive, manual data gathering for up to 98 percent time savings; improve accuracy, and eliminate delays, enabling due diligence teams to focus on higher value tasks such as risk assessment review and escalation.
• A user-friendly and uncomplicated workflow: Easy, drag and drop interface enables uncomplicated configuration of due diligence process steps for both Nexis Diligence and associated workflow stages (e.g. input names to search, notify analyst when report ready for review, etc.)
• Versatility: Applicable to both day-to-day ongoing processes and urgent ad hoc tasks such as time sensitive due diligence remediation/refresh.

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As the pioneer and inventor of RPA, Blue Prism is known in the industry as the trusted brand with many technological firsts and innovations in the RPA market. In terms of security, the company was the first RPA vendor to achieve CA Veracode Verified Continuous accreditation as well as working with Project Hosts, a FedRAMP-authorized Platform-as-a-Service (PaaS) provider. Other milestones include, Lifecycle Management (introduced 2006), RBAC (2006), Workload Management (2009), Disaster Recover (2009), Credential vaulting (2011), High Availability (2015), Industry’s only certified cloud reference architecture (2016) and more. 

Mark Dunn, Portfolio Director at Nexis® Solutions, a division of LexisNexis Legal & Professional, says, “We are delighted to join forces with Blue Prism because their proven leadership in Intelligent Automation helps us better serve our clients. When Nexis Diligence combines with Blue Prism RPA those manual, repetitive, high volume checks that due diligence teams conduct can now be quickly automated. Blue Prism’s Digital Workforce can help reduce the time of some entity due diligence processes by up to 98 percent. With RPA delivering this type of business efficiency, due diligence analysts can now refocus their skillsets to higher value activities.”

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