Accurate Entity Data
The key to effective entity management lies in an organization’s ability to surface accurate corporate data quickly in order to respond to requests for information from key stakeholders across the business. This need is more critical than ever as new legal, regulatory, and compliance factors have made it imperative for organizations to have accurate legal entity information at their fingertips. However, many organizations today still suffer from inaccurate data, siloed solutions, and bad processes that prevent legal and compliance specialists from easily uncovering the following:
- Legal names
- Office addresses
- Officer names and addresses
- Entity directors and officers and dates of service
- Entity types
- When entities were formed, sold, merged or dissolved
- Subsidiary and parent company information
- Entity relationships between other subsidiaries in the organization
Entity Search – Single Source of Truth
Legal departments are consistently bombarded with requests for information from business partners, including tax, finance, audit and compliance. Because of this, organizations need a single source of truth for corporate data that provides access to timely information in a secure way.
Blueprint OneWorld enables users from various business units to easily surface entity related details, documents and dates, and by setting appropriate user or group permissions, information from the corporate database can be accessed quickly and securely. For example, if the tax team needs to have access to the entity names, addresses, and entity relationships, that group of users can create a search that will target just those specific details. If someone managing only certain jurisdictions needs the same but only for select locations, they can create a search and filter only to those geographic areas. The searches can be saved by each user so that they see only the information relevant to them each time they require an update. The search can also be saved and shared with a group, so that specific searches can be created and utilized by all users in a department. These advanced search capabilities allow users across the business to save time and find relevant information faster.