Redefining Best Practice Steps To Achieve 100% Third Party Due Diligence
As organisations look to grow and seize new business or cost saving opportunities through an increasingly international web of suppliers, vendors, resellers, agents and intermediaries their exposure to corruption risk through these third party relationships similarly increases. With the economic, social and (increasingly) personal cost of ‘getting it wrong’ now so high, gone are the days of metaphorically placing third party files in a drawer for later attention, or conducting one time due diligence on just a small percentage of third parties deemed ‘high risk’.
With the modern supply chain continuously growing in size and complexity, how then, do organisations manage each and every third party relationship to minimise exposure to corruption risk in a cost-effective and comprehensive fashion while sending a clear message to the market, regulators and their supply chain that corruption will not be tolerated?
This whitepaper aims to outline the current third party management landscape and redefine best practice steps to achieve cost-effective 100% third party due diligence by leveraging advances within regulatory technology (RegTech) made possible by the rapid evolution of data and due diligence.
Download this whitepaper to explore:
- What are the challenges of third party management in today’s complex supply chains
- Understanding what regulators like to see
- Redefined best practice steps to attain 100% third party due diligence
- Learn about ethiXbase 2.0, zero cost instant due diligence. 100% third party compliance.