New search report slashes costs of data analysis

By Benjamin Balk, October 19, 2015

Currently Australian businesses spend over $500 million annually on company and securities data and hundreds of millions in additional costs sourcing, gathering, and analysing this information.

For many businesses this represents a significant drain on resources, particularly industries where rapid access to  commercial information is critical to key decision-making and intrinsic to core business activities and processes.

The launch of SAI Global's Dynamic Company and Securities Report is to set significantly lessen this spend by halving the time allocated to traditional search and analysis.

Says SAI Global Head of Information Services Strategy, Benjamin Balk: “It does this by gathering company and securities' data from multiple sources then pulling it together into a concise upfront summary report, prioritizing critical information and flagging issues that may require further research.

“Rather than painstakingly trawling through government extracts and reports, performing separate ASIC, PPSR and other searches, then conducting detailed and drawn-out analyses of this data, users can access the information instantly.

“They can quickly confirm details about a company, its identity, ownership, directors, registered interests and other securities data  and rapidly understand areas of potential risk, ensuring nothing has been overlooked -  not even difficult to retrieve extracts tucked away in PDFs.

“Better still, they can quickly understand the connections between people and companies, transforming their ability to see the bigger picture and enabling quicker decision making,” says Mr Balk.

Mr Balk says the report has effectively brought search and analysis into the 21st century.

The report is the latest addition to SAI Global’s rapidly expanding stable of commercial information search solutions. It has been integrated into the company’s commercial information broking platform, Search Manager* and its sibling search visualisation platform, Encompass*.

Benjamin Balk

It is also indicative of how the company continues to remain at  the forefront of development in the commercial information management space.

Late last year we acquired the exclusive, perpetual rights in Australia to the innovative visualisation software, Encompass, which had many of our competitors scurrying back to the drawing board looking to develop ‘me-too’ visualisation offerings.

Benjamin Balk

The biggest beneficiaries of the report will be the insolvency, legal, banking/finance and accountancy sectors.
“We are presenting these industries with a genuine mechanism to improve productivity and the overall turnaround time on critical processes. 

“For banks where 'time to decision' is critical, the new report will enable users to very quickly understand the status of their clients, significantly speeding up the loan approvals process  while for insolvency firms, it will help them determine at a glance whether or not the risks of taking on a job are  too high.

Alternatively for legal firms, it has the potential to increase their capacity for taking on additional work and for major professional service consultancies (where there are multiple divisions), prevent the potential for inadvertently representing the same client, reducing any opportunity for conflict of interest.”

The report has also provided users across the broad spectrum of industry with a much improved workflow solution.

It  includes an inbuilt hyperlink to a workspace on the Encompass platform, enabling Search Manager users access to a visual map of the relationships between people and companies, providing for more detailed search insights.

Once in Encompass, users can add additional searches or add their own relationship links such as 'Trusts' and 'Beneficiaries' to complete the full picture. They can also view and access stored original registry documents and a spreadsheets of PPSR results.  This single archive of all source documents is available for sharing with their team or clients.


The archive also comes with an inbuilt audit history, solving a long-standing problem plaguing the business community: how to consistently store and retrieve historical search material which can be difficult to locate after its initial use.

 

Now users – regardless of which SAI Global search platform they use – can be confident their search history will be preserved in the one place, reducing the opportunity for vital information to be lost, significantly mitigating unnecessary risk

Benjamin Balk

Mr Balk says the new report has significantly 'raised the bar' for commercial search and analysis in Australia.

"We've created the 'new normal' and raised expectations sky-high. There's no turning back now!”
https://saiglobal.wistia.com/projects/64nlyiajvx

For more media information contact:
Benjamin Balk on 0401 672 313
Wendy Parker on 0422 694 503


*More about Search Manager ……… As an approved ASIC, PPSR, AFSA and Land Registry information broking platform, it provides users with access to bankruptcy checks, company and business intelligence, information on key individuals and titles as well as PPSR searches and registration capabilities.

*More about Encompass …….. It stores searches and reports as interactive and shareable corporate trees showing relationships across data supplied by ASIC, Land Registries and the PPS Register. This enables users to rapidly understand how people, companies and property are connected..