Huntswood is the UK's leading specialist resourcing and consultancy firm in the areas of governance, compliance and complaints. The company's stated ambition is to enhance the reputation of its clients with their customers, people and regulators.
The business enables its clients to
- Quickly and effectively react to regulatory issues, with high quality, swift intervention
- Develop and embed appropriate systems, controls and processes to ensure robust governance and oversight
- Better manage ongoing regulation
Huntswood identified that it was spending an increasing amount of time tracking issues that were important to the company through manual internet searches, subscriptions to a variety of different websites, newspaper sources and information gleaned from client visits. This was used to collate a weekly internal newsletter of relevant information which was distributed to Huntswood's people.
The manual nature of this process involved a significant amount of human resources that could not be sustained as the volume and velocity of news information increased. Huntswood found that it was creating communications that were disjointed and out of date, due to the disparate number of different sources of information. The company sought a comprehensive solution that would offer breaking news, company and market information from one trusted source.
What we did
Having thoroughly researched the market, Huntswood chose LexisNexis' Nexis product. Nexis delivers a comprehensive collection of information from more than 36,000 news and business sources with an archive that spans 30 years. This includes global news and business information alongside more UK regional coverage than any similar provider, plus biographical, company, regulatory and legal information. The database also includes access to a variety of trade and professional business journals. Because it is sourced from trusted sources, Nexis delivers comprehensive access to reliable information.
Huntswood deployed Nexis to assist with a number of key marketing roles including internal and external communications, PR tracking and client and competitor analysis.
- Alerted to new information
- Reliable searches with accurate results
- A vast archive of information
One of the features of Nexis that Huntswood found valuable almost instantly was the alerting feature, as outlined by Henry Bond, Strategy Consultant at Huntswood. "Previously we had to search for relevant information on a daily basis. Nexis allows us to set up media and company alerts that then simply deliver this information directly to my inbox. This means that all relevant information is available quickly and without the need to manually search. In turn, I can forward relevant insight to board members or the sales team for action."
Huntswood has experienced some of the challenges of searching the open internet: "As well as being time consuming, internet searches can be skewed by the search provider's business model. Changes to this can mean that a search one day can produce very different results to another. It can be extremely difficult to rediscover information that you have found in the past. With Nexis, I know that a search on one day will be the same as the next. I am not relying on publishers retaining the information online and do not end up following broken links," commented Bond.
Nexis provided Huntswood with access to detailed information on a limitless range of subjects, all of which is sourced from trusted sources. The diversity of this information has been particularly relevant to Huntswood's requirements. "Nexis provided what most firms do not, which was a combination of the technology that we were looking for," continues Bond. "Having a news collating service with a wide variety of sources, combined with company accounts and insights information really helps us access the right information quickly and effectively. For example, I use a lot of the regulation news releases to back up market sizing assumptions."
Huntswood has embraced the information available within Nexis, not only to enhance and speed up its market intelligence and relevant news dissemination but also to improve the company's productivity. Bond concludes: "The product is great. It has saved our internal and external communications team time when gathering relevant material for our newsletters. It has also provided a plethora of quality articles to keep our business up to date with competitors, clients and regulation as soon as they hit the press. Nexis provided what most firms didn't, which was a combination of the technology we were looking for in one location."