The two organizations will collaborate with leaders from the Business Ethics Leadership Alliance (BELA) to help operationalize the use of data analytics in ethics and compliance to reduce risks and increase program efficiencies
NEW YORK, October 5, 2020 – Ethisphere and Lextegrity today announced a partnership in which the two organizations will work with corporate members of Ethisphere’s Business Ethics Leadership Alliance (BELA) community to define and develop leading practices, resources, and analytics to support the wider use of data analytics in ethics and compliance.
The two organizations will collaborate with leaders of best-in-class global ethics and compliance programs to create a series of benchmarks, roadmaps, and other best practice resources to assist companies in using data analytics to reduce ethics and compliance risk, particularly related to corruption, fraud, sanctions violations and conflicts of interest. Ethisphere, Lextegrity, and the BELA community will collaborate as part of industry working groups composed of companies from multiple industries and levels of compliance program maturity.
The companies will join a webcast with Alexion on Oct. 22, 2020, at 1 p.m. ET, titled, “Using Data Analytics to Create a Next-Generation Compliance Program: A Practical Roadmap”. Register here.
“We’re excited to bring greater data analytics knowledge and capabilities to global ethics and compliance programs alongside our partners at Lextegrity, a company that not only has built great technology but was founded by longtime ethics and compliance professionals with deep in-house compliance and audit expertise,” said Stefan Linssen, EVP of Global Partnerships at Ethisphere. “We look forward to collaborating with the BELA community to define best practices in this area and identify compelling new analytics, to collectively support multinational companies across industries in ramping up their ethics and compliance data analytics capabilities.”
The collaboration will also help support the Lextegrity-led Integrity Analytics Collective, which gathers ongoing input about effective data analyses from companies and organizations across the ethics and compliance profession, with a commitment from Lextegrity to incorporate that input into the existing library of analyses in its SEC-cited data analytics software, for the benefit of the compliance community. The analytics developed by Lextegrity through this partnership with Ethisphere will be available to any company licensing Lextegrity’s data analytics platform.
“We are at an inflection point in ethics and compliance, where risk management driven by data analytics will separate effective programs from those that are not. We are excited to partner with the thought leaders at Ethisphere and its BELA members to enable every compliance program in the world to be driven by data,” said Parth Chanda, Chief Executive Officer of Lextegrity. “We are equally excited to commit to Ethisphere, BELA, and the broader ethics and compliance community that we will continue to build onto our data analytics platform, with intelligent capabilities to help advance integrity around the globe.”
Companies interested in getting involved with these activities or the Ethisphere and Lextegrity partnership can learn more by visiting https://ethisphere.com/what-we-do/lextegrity/.
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, benchmarking and guidance. More information about Ethisphere can be found at https://ethisphere.com.
About the Business Ethics Leadership Alliance (BELA)
Founded by the Ethisphere Institute, the Business Ethics Leadership Alliance (BELA) is a globally recognized organization of more than 300 leading companies, from 60+ industries and headquartered in 15 different countries, collaborating together to share best practices in governance, risk management, compliance and ethics. BELA’s membership has since grown to a large community of companies in pivotal markets including South Asia, Latin America and Europe who recognize the inherent value of promoting ethical leadership and world-class compliance culture. Learn more about BELA by visiting http://bela.ethisphere.com. To nominate a company to join BELA, contact the Director of Member Engagement, Sarah Neumann, at firstname.lastname@example.org.
Lextegrity is an industry leader in digital transformation of corporate risk management. Lextegrity provides software to monitor spend and automate third-party due diligence and compliance pre-approvals to prevent and detect fraud, corruption, sanctions violations and conflicts of interest. Lextegrity was founded and is led by veteran legal and audit professionals with experience before the DOJ, SEC and other international regulators, who launched Lextegrity to build the risk management tools they wished they had when they were in-house. Lextegrity’s spend monitoring and approval software was recently cited by the SEC in an FCPA resolution and aligns closely with the recent DOJ updated guidance on effective compliance programs. More information about Lextegrity can be found at https://www.lextegrity.com.