Managing reputations and wider business risks is about meeting expectations. When it comes to responsible business it's usually easier to commit than to deliver – perception invariably outperforms reality. That's a risky place to be in the 24/7 goldfish bowl world of the web.
Auditing suppliers, investees and customers is the traditional approach to due diligence and monitoring of business relationships. But it has limited coverage and provides only a snapshot view. Invariably, in our view, compliance audit programmes under-achieve, delivering more 'perception' than 'reality'.
But NIMBUS web monitoring of third party allegations and opinions provides greater, more regular coverage. It keeps you more in touch with reality. It's another brick in the wall of assurance.
Modern supply chains can be long and seemingly distant. But they hide ethical risks, waiting to flare up – relating to ethics, labour conditions, health and safety, the environment, corruption, etc.
Many companies have ethical and social responsibility codes which apply to suppliers, investees and customers.
However, despite expensive corporate audit programmes, the reality is that most corporate assurance programmes are blind to the majority of environmental, social and governance risks occurring in their business networks.
No news is not necessarily good news. It’s easy for a supplier to disclose the good things—policies, certifications, community projects, waste recycling, etc. But it’s the bad and ugly stuff that damages reputations and threatens investments – the stuff no one wants to shout about. But problems are easier to manage with a little warning - which means looking upstream for what may be coming your way.
An audit provides only a snapshot view of a business entity. NIMBUS, however, keeps watch all year round by scanning web news and tracking third party views. Our experienced researchers and experts sift through scan outputs and apply significance filters to identify relevant content for the NIMBUS database.
NIMBUS scans the web for news reports, allegations and negative commentary, across a range of responsible business topics, to identify ‘risk alerts’ which may affect your business.
NIMBUS monitors over 10,000 companies across Asia-Pacific, reporting 150-200 new risk alerts per month. Our database of more than 9000 alerts, going back to 2009, is available online for strategic analysis, due diligence support and ongoing monitoring. We have the data, expertise and international network to inform and support you.Visit the NIMBUS website now