Severn Trent Water - filtering out irrelevant noise
Severn Trent Plc is a FTSE 100 company that supplies and treats water through two subsidiaries: Severn Trent Water and Severn Trent Services. The company provides water services to households and businesses in the UK as well as water and waste water treatment services worldwide.
As a large and complex business, Severn Trent Water has a vast range of procurement requirements – from hardware such as water pipes to complex wireless telemetry systems for asset tracking and monitoring or measurement. Supplier relations are managed by category managers operating in specific procurement areas.
A heavily regulated business, Severn Trent Water is bound by EU procurement directives when engaging with significant new projects. The company is also acutely aware of its corporate responsibilities, particularly in an industry where a hard won positive reputation can easily be eroded. With this in mind, Severn Trent Water sought a reliable means by which to track news and information about its suppliers so that category managers would know if suppliers had been in the news and would be alerted to new information about the companies.
Terry Moynihan, Performance & Planning Analyst at Severn Trent Water, commented: "While there are free tools such as Google Alerts available, we wanted a comprehensive means to track companies and filter out the irrelevant 'noise' associated with an internet search. We needed financial alerts and advice on any negative news on our suppliers. We investigated the market and Nexis® from LexisNexis offered access to relevant information and an alerting system that would support our business."
Nexis is a comprehensive global news and business resource with more UK regional coverage than any similar provider, plus biographical, company, regulatory and legal information. Nexis contains over 23,000 news sources, local, national and international, and a huge range of company, financial and industry sources. The database also includes access to a variety of trade and professional business journals.
- Alerts providing up to date information to the relevant person
- Trusted sources, comprehensive coverage
- Easy to use
"Critical to our requirements was the ability to deliver company alerts to the relevant category manager every time a supplier news item was reported," continued Moynihan. "With the Nexis alert system we are able to do exactly that, providing up to date information direct to our category manager proactively, rather than them having to search for information and take a view on its importance."
With over 23,000 local, national, and international news sources, and a huge range of company, financial and industry sources, Nexis was comprehensive enough to provide relevant information on supplier companies. "Private companies can be much harder to find information on than large corporations," commented Moynihan. "Nexis provides us with reliable information on all our suppliers, not just the larger ones." This is particularly important to Severn Trent Water when a supplier is part of a wider entity. "The reach and breadth of content enables us to track information about suppliers by name, but also by parent company, giving us a deeper understanding of the wider business issues affecting our suppliers."
Severn Trent Water has a specific need for a comprehensive and trusted source of information to monitor news about its suppliers. Nexis has provided a simple and effective way to access the relevant information and deliver it to the right person on a regular basis. Terry believes that this has enabled Severn Trent Water to be more proactive in its approach to supplier relationships. "Nexis provides us with trusted information on our suppliers and this helps to build the relationship between our category managers and their contacts. Showing an interest in our suppliers' news has helped foster stronger business relationships and represents a core tool in our approach to risk management."