Set Up and Use Stakeholder Verification

The accuracy of the information in the system is often taken for granted, but without regular data validation, you can't be sure. In Borealis, the Verify action is available for all types of records in the core Stakeholder Engagement module. This action can be manually triggered based on your company's procedures and requirements, but its purpose remains the same for all: to ensure that data is accurate and up to date.

When it comes to an individual, you can schedule the verification process to take place at a specific frequency and set up notifications as a reminder. For example, if you set it to one year then a year after the last verification is done, the relationship manager would receive a notification to verify the stakeholder's information.

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Here is how to set up the verification and take action:

  1. Go to the stakeholders register and select an individual;
  2. In the General information tab, scroll down to the Verification section;
  3. If there is no information available here, it means this record has never been verified:

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4. Whether it is the first verification or not, you may verify the record anytime using two methods:

      • From the Action menu, select the Verify option;
      • From the Verification section, click on the Verify button:

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5. Once the verification is done, information such as the Last verification date or Last verified by will be automatically filled in.

The Verification frequency can be changed at any time, individually or in batch, before or after a first verification. Here you can enter the frequency in days, weeks, months, or years when the verification should be done.

As soon as the verification frequency is filled in, a new field becomes available: Next verification due date. This is an automatically calculated date following these rules:

      • If the stakeholder is newly created or has never been verified, the Next verification due date will be calculated depending on the Verification frequency and the Creation date of the record.

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      • If the stakeholder has been verified at least once, the Next verification due date will be calculated depending on the Verification frequency and Last verification date:

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Analytics

Even though you can scheduled a verification frequency, verifying your stakeholder’s accuracy remains a manual intervention. Additional mechanisms must be put in place to help users and their managers to regularly verify this information. Besides notifications by email, Analytics widgets and reports can be quite helpful in this case.

You may use all the fields available in the Verification section as filters to build the widgets you need, such as: Last verified by, Last verification date, Modified since last verification, as well as the Verification frequency or the Next verification due date.

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Consequently, you may get your own customized reports about a variety of topics, such as:  the verification frequency in relation with other properties of your stakeholders, the next stakeholders who are to be verified, the stakeholders who were modified since last verification, when exactly and by whom, the stakeholders who were not verified (never or not in the past 6/12 months) or simply put, how many stakeholders I have to verify, etc.

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