It analyzes data across sales, finance and human resources to help improve operational efficiency of companies.

FORBES: Big Blue Makes Big Moves In Big Data

Even while saying LEIs would benefit the economy, reduce risk, and improve operational efficiency, the BIS stops short of calling for them to be legally required by national governments.

FORBES: BIS and IOSCO Dither on Requiring Legal Entity Identifiers (LEI)

Using unique alphanumeric identifiers for financial firms would improve OTC derivatives markets, make it easier for regulators to see aggregated risk, and, once systems were changed over, would simplify record keeping, improve operational efficiency for firms and eliminate a lot of reconciliation work, according to a report the BIS issued from the Committee on Payment and Settlement Systems and the Technical Committee of IOSCO.

FORBES: BIS and IOSCO Dither on Requiring Legal Entity Identifiers (LEI)

Corporate buyers, usually led by finance chiefs, viewed the products as a way to improve cost and operational efficiency so paid special attention to the RFP process.

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