No matter what sector you are in, it's important to consider potential reputational risks to your organisation, especially now that we live in an information-led age, when the actions of organisations and of individuals can be so publicly and visibly scrutinised. The reputation of an organisation is something that needs to be constantly refined through its various partnerships. For charities specifically, there are risks that come from public associations and the accepting of donations from a range of sources. Therefore, prospect research and due diligence is vital to protect an organisation from disrepute. Ethical Goods have partnered with Xapien, an exciting AI-software designed to assist organisations with this.
It is important that an organisation establishes a robust due diligence and reputational management process, to protect themselves in the best way possible. However, this process can be extremely time consuming and even though digital information may be the cause of the risk, new technology could also be the answer. Xapien is already being used by early adopters in the nonprofit sector, namely the RNLI, Moorfields Eye Hospital & the RAF Museum, in addition to transforming research and due diligence tasks across multiple other sectors.
Xapien is an AI-powered tool that automates the research process. It is coded to search the internet for all available and relevant information and is able to locate all relevant information on a potential prospect, from news sources and corporate data, etc. It is very difficult for human teams to search the internet at this scale and it also leaves an organisation vulnerable to the risks that come with human error. By using technology to perform this task, you are eliminating reputational risk for your organisation and freeing up the researchers on your team to focus on analysing the information and making decisions.
The use of technology to support tasks is commonplace in most organisations. Xapien does not draw on other software, or outsource parts of the task to any existing software. It’s using its own AI-technology to scour the internet for information, read and understand data just like a human would and to then provide a report that gives individuals the information required to make a decision on the risk associated with future partnerships.
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