Business Partner Compliance for safe success. Together. For your third party compliance.
Do you want to efficiently check and mitigate the risks of your business relationships?
We support you in implementing your compliance measures for business partner due diligence with our Third Party Risk Management (TPRM.360) module.
Comprehensive. Worldwide. Specific.
Whether to avoid corruption risks, fulfill due diligence obligations under the Supply Chain Act, or comply with sanctions, embargoes and money laundering prevention: first to market, our pioneering third party risk management incl. business partner due diligence continues to set the standard for IT solutions for multinational companies.
Discover now your benefits of our unique and comprehensive enterprise solution for all business partner risk assessments – across the entire lifecycle.
Download our third-party-risk-management product flyer:
Why do I need to do a business partner due diligence for anti-corruption?
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Know your business partners
In the current regulatory environment, you need to know who you are doing business with. More than that, you need to proactively manage the associated risks.
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Due diligence with business partners
“The commercial organization applies due diligence procedures, taking a proportionate and risk-based approach, in respect of persons who perform or will perform services for or on behalf of the organization, in order to mitigate identified bribery risks.”
Source: The Bribery Act 2010, Guidance, Principle 4
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Avoid severe consequences
Business relationships with partners who pose compliance risks can easily result in serious reputational damage to your company, for example by accusations of aiding and abetting criminal acts. Under certain circumstances, you and your affiliates may even be held liable: for improper acts by third parties acting on your behalf (“business partners”) – regardless of whether you authorized such improper acts or payments.
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Manage business partners right
Their careful selection as well as appropriate monitoring and control of the business partner throughout the entire duration of the relationship is thus absolutely essential.
Why do I need to do a business partner due diligence under the Supply Chain Act?
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Know your supply chain
Since 2023, companies are responsible for ensuring that human rights and environmental protection are complied with and documented within their global supply chains.
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Due diligence for business activities
The Supply Chain Act applies to your own business operations, direct and indirect suppliers, and your company’s products and services.
Initially, companies with at least 3,000 employees in Germany will be covered by the LkSG. From 2024, the law will apply to companies with at least 1,000 employees in Germany.
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Avoid violations of the law
The implementation of compliance processes along your supply and value chain helps you to fulfill your corporate responsibility and to implement the German and, in the future, the European Supply Chain Act in a legally compliant manner. In addition to comprehensive prevention and remediation measures, the establishment of complaint channels in supply chains and regular reporting on a supply chain management system in accordance with the Supply Chain Act is mandatory.
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Implement the German Supply Chain Act
With our digital solutions, we support you throughout the entire lifecycle in the fully comprehensive due diligence of your internal and external business partners.
Your advantages of the PROXORA Compliance Platform at a glance
Benefit from our experience in business partners due diligence.
Back in 2008, the United States Department of Justice described our original solution as “state of the art.” The new processes “have set a high standard for multinational companies”.
PROXORA’s innovative solutions are continuously enhanced and support directly or indirectly affected companies effectively and legally secure in the implementation of the Supply Chain Act introduced in 2023.
Take the quality of your company’s protection to a new level with our standard, which is continuously being further developed both in terms of expertise and technology.
Go for the true standard.
Protect your company reliably and comprehensively with our proven solution, which has successfully undergone years of real-world use as well as several US compliance monitorships. DICO e.V. also lists our solution in the standard for business partner compliance.
Enable comprehensive risk protection.
Ensure that your Business Partner Compliance Due Diligence process is optimally secured and complies with all strict regulations: from the US FCPA 1977 and the UK Bribery Act 2010 to the organizational obligations under German law (OwiG).
In addition to the Supply Chain Due Diligence Act (LkSG), regulations such as the EU Whistleblower Directive and national legislation apply. The far-reaching regulations affect both big players and SMEs as suppliers. We will be happy to advise you.
Do you want to protect yourself with our pioneering business partner due diligence solution?
I would be happy to consult you regarding your individual options and answer all your questions.
Wolfgang Sprung
Product Owner Third Party Management
E-Mail: nextlevel@proxora.com
Achieve more together. With confidence.
Comprehensive Assessments
Identify and manage risks beyond anti-corruption and Supply Chain Act compliance that include environment, social concern and governance (ESG), cybersecurity and more.
End-to-End Risk Management
Customizable Risk Mitigation
Conveniently map different risk scenarios for third parties to define appropriate mitigation measures.
With our digital solutions, we support you not only in business partner due diligence, but also in the implementation of due diligence of your global supply chains and anti-corruption measures.
More expert Compliance solutions for your success
Anti-Money Laundering
Compliance Approval
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