Third-Party Risk Management

End-to-End • Customisable • Configurable

Automate every stage of your third-party compliance lifecycle

Automate Every Stage of Your Third-Party Compliance Lifecycle
With ethiXbase 360

Automated • End-to-End • 100% Configurable • Risk-Based
ONBOARD
  • Onboard your third parties' information from their demographics to digitising your existing internal onboarding documentation & risk scoring.
  • Achieve a consistent, automated process completed with a fully accessible audit trail. All your third parties’ information and documentation is in one place.
ASSESS
  • Assess initial risks of your third parties using the Predictive Risk Indicator (PRI™) which aggregates data from multiple sources and can be configured based on your own risk criteria.
COMMUNICATE
  • Automate retrieval of key compliance information with our robust communications module:
  • Due Diligence Questionnaires
  • Digital attestation to policies and codes
Risk-Based Screening & Due Diligence
  • Conduct screening and due diligence proportionate to the risk level posed:
  • ESCALATE with Instant Due Diligence PLUS (IDD+) for instant access to detailed risk intelligence for greater insight and coverage.
  • INVESTIGATE with Enhanced Due Diligence on your third parties and their associates using our configurable analysts reviewed Enhanced Due Diligence reports.
INVESTIGATE
  • For third parties posing a high risk, or where it is difficult to source detailed intelligence, leverage on our in-house multilingual Enhanced Due Diligence (EDD) Analysts and configure the scope of research based on your business need.
Classify & Engage
  • Benefit from consolidated risk information and documented decision making regarding which third parties to engage and any risk mitigation strategies in place.
THIRD-PARTY COMMUNICATIONs & TRAINING MODULE
  • Leverage our Third-Party Communications and Training Module to educate and certify your third parties on ethics and anti-corruption compliance issues, best practices, code of conduct and policies.
  • All records of third-party training and assessments are recorded against the third parties audit trail within the platform and can be set for periodic review and automatic requests for re-certification.
Ongoing Monitoring & Periodic Compliance Refresh
  • Continuously monitor vendor risk and performance and trigger: review, escalation, issue management, and remediation activity.
  • Set periodic automated risk reviews for third-party relationships based on your own metrics.
  • Where changes have occurred that impact risk, ethiXbase 360 triggers the appropriate escalation and review including re-ordering of compliance measures such as due diligence, training and approval.

Overview

As third-party ecosystems become increasingly complex and geographically diverse, organisations are exposed to increased regulatory and reputational risk.

 

It is understandable that many compliance, legal and procurement professionals like yourself, may feel overwhelmed at the prospect of managing each and every third-party relationship within your global third-party ecosystems.

Did You Know?

1.8%
SANCTIONS & ENFORCEMENT RISK

1.8% of third parties have been discovered with alerts on sanctions, enforcements and regulatory actions either at the initial screening stage or through ongoing monitoring.

5.6%
BRIBERY & CORRUPTION RISK

5.6% of third parties have been discovered with alerts on negative media and other risk databases associated with this risk at the initial screening stage or through ongoing monitoring.

2.4%
ENVIRONMENTAL, HUMAN RIGHTS OR LABOUR RISK

2.4% of third parties have been discovered with alerts on negative media and other risk databases associated with Environmental crimes, Human Rights violations or unethical Labour practises.

86%
CONFIGURED WORKFLOW

Our platform. Your Process

Our easily configured workflow and Predictive Risk Indicator (PRI™) allows our clients to be up and running with their process in a matter of a few days.

8.4%
DUE DILIGENCE QUESTIONNAIRE

8.4% of third parties were escalated to further due diligence initiatives including Due Diligence Questionnaire (DDQ), signing code of conduct and anti-corruption policies.

100%
REMEDIATION

All alerts are remediated through our Artificial Intelligence (AI) driven remediation process. Our heuristic algorithm has removed guess work from remediation.

100%
SCREENING & ONGOING MONITORING

Using our proprietary technology, it is possible to cost effectively screen and monitor 100% of your third parties.

We Can Help

A cost-effective and risk-based approach to third-party risk management

Our market-leading ethiXbase 360 platform contains a series of interconnected modules creating a configurable, end-to-end third-party compliance solution to support every nuance of your third-party programme.

Managing Your Global Third-Party Ecosystems And Achieving 100% Compliance Does Not Need To Be Daunting, Nor Expensive

No two businesses’ risks are the same, nor is the way that they are managed. Our third-party compliance platform ethiXbase 360 is built on a dynamic system architecture with this concept as its core premise.

 

Built hand-in-hand with our corporate clients, our market-leading ethiXbase 360 allows you to leverage powerful Artificial Intelligence (AI) technology to digitise and automate your organisation’s unique compliance programmes and support every stage of your third-party compliance lifecycle for 100% of your supply chain.

What Our Clients Are Saying About Us

We engaged an independent consulting firm to run an annual customer satisfaction survey and hear
what our clients are saying about us

AUTOMATED WORKFLOW & MARKET-LEADING PLATFORM

“In this platform everything is valuable, from the moment they trigger the automatic email directly to the customer, the customer responds directly via the platform, the Enhanced Due Diligence (EDD) reports are pretty good, the Instant Due Diligence Plus (IDD+) is a very good complement for changes in management, for example. So, the whole process is very useful. It is difficult to point out just one offering.”

Senior Compliance Analyst

Fortune 500 Pharmaceutical Company

DUE DILIGENCE QUESTIONNAIRE & CONFIGURABLE PLATFORM

“The greatest value for us is the documentation on the system of three elements: compliance clause, due diligence questionnaire and code of conduct for each third-party. Also, what is valuable is the fact that they were designed by us. ethiXbase provided recommendations, but we had our code of conduct ready to go, we had our due diligence questionnaire which we were sending manually and we combined it with ethiXbase’s and the compliance code.”

VP Legal Council

Global Agri-business Company

100% OF THIRD PARTIES IN AUTOMATED PLATFORM

“We started working with ethiXbase on the digitalisation of the process, instead of doing all these steps manually we do in a digitalised way on the system. That is a huge added-value. We made a lot of automation and have a very sophisticated process.”

Head Group Compliance

Global Retail Company

ethiXbase 360 Features

Manage 100% of third parties in one place

Build & maintain complete audit trails to evidence compliance

Leverage inbuilt industry leading workflows which evolve with your programme as required

Proportionate risk-based screening & due diligence according to your need

False positive remediation

Third-party communications

Ongoing monitoring with automated risk triggers should things change

Third-party sign off & escalation workflows

Robust management reporting & analytics

Ready to find out more?

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