THIRD PARTY MANAGEMENT

Business Partner Compliance for safe success. Together. For your third party compliance.

Third Party Business Partner Due Diligence

Do you want to efficiently check and mitigate the risks of your business relationships?

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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.

Why do I need to do a business partner due diligence for anti-corruption?

  • 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.

  • 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

  • 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.

  • 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?

  • 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.

  • 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.

  • 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.

  • 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.

Third Party Experience

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.

Third Party Standard

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.

Third Party Risk Protection

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

Proxora third party risk management

Achieve more together. With confidence.

 

Get detailed information on third party management now and protect your company in the best possible way throughout the entire lifecycle of the business relationship.

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.

List of all your business partners

End-to-End Risk Management

 

Profit from a comprehensive IT solution from onboarding to due diligence and continuous monitoring.
Business partner end to end risk assessment

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.

Third party risk scenarios and mitigation
Anti-Money Laundering Geldwäsche Compliance
Compliance Approval - Geschenke und Zuwendungen verwalten

Sounds appealing to you?
Then let us convince you in a demo!

 

Get your free and detailed info material now.

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