Legal technology company, LexisNexis South Africa, and the Institute of Risk Management South Africa (IRMSA) have commenced a strategic partnership which will see the recognised Professional Body for Risk Management in South Africa harnessing the power of LexisNexis solutions to manage its own risk and compliance profile.

The collaboration brings together two powerhouses in the sector who will work together in not only advancing best practice in Governance, Risk and Compliance management, but also in advancing the Rule of Law.

IRMSA will adopt the Lexis Compliance Lite solution to enable its compliance management team to stay ahead of all POPIA developments, document compliance risk and measure compliance status.

IRMSA will also be using the Lexis Assure Data Protection Pack which offers an efficient online system to track amendments to legislation with automated alerts. This will ensure that the IRMSA compliance management team is always up to date with changes to the regulatory landscape.

CEO of IRMSA, Pat Semenya, said, “IRMSA has always highlighted that the effective management of risk is central to the achievement of any company’s vision. By using LexisNexis solutions to understand and manage our own risk profile, IRMSA will be better positioned to provide greater certainty and security for all our employees, members and broader stakeholders.

“These tools and insights will equip us as IRMSA to effectively manage compliance, through access to all the content and tools needed to continue to identify and manage risks with appropriate controls and mitigation measures. We look forward to a mutually beneficial relationship with LexisNexis and trust that our members will derive value from this strategic partnership.”

LexisNexis South Africa CEO and Chairperson of the Board, Videsha Proothveerajh, said the company welcomed this stamp of approval from the industry’s recognised body.

“The rapidly changing regulatory environment brought on by developments such as POPIA, combined with the range of far-reaching risks highlighted in IRMSA’s annual Risk Reports, requires that all companies embrace risk resilience. Risk and compliance are now on the agenda of every C-suite executive.”

“As IRMSA continues to highlight, we need a risk-intelligent public and private sector, where leaders at the highest levels embrace an enterprise-wide culture of integrated risk management to secure South Africa’s future through robust risk-informed decision-making. As LexisNexis we believe that we have the track record to assist organisations such as IRMSA to make data-driven decisions enabled by technology and to remain agile in responding to the regulatory environment, challenges and disruptions,” she added.

LexisNexis South Africa is one of the leading providers of legal technology and Governance, Risk and Compliance Management solutions. For over 85 years it has been at the forefront of legal content and technology and today provides the most trusted and credible legal and regulatory content and intelligent, digital platforms. Its corporate solutions guide users to better decisions, grounded in the latest legislation and regulatory developments.