No More Weak Links
Ethics and compliance are more critical than ever to long-term business success, and global enterprises are responsible for ensuring the thousands of third parties they partner with reflect their own ethics and values. In addition to streamlining due diligence, Convercent Third Party leverages the analytics-driven Convercent Ethics Cloud Platform to correlate hotline and conflict-of-interest disclosures—for a comprehensive assessment of third-party risk.
Protect Your Culture
You worked too hard to build a culture of proactive ethics and values to have it brought down by misconduct in a supplier’s business. Extend proactive ethics to your third-party relationships by ensuring your policies are supported. Distribute and track policy and training workflows customized to the unique requirements of each third-party relationship.
Make the Right Decision, Quickly
Convercent Third Party streamlines due diligence by giving you more control and more data. For each third party, customize the questionnaire and risk matrix to capture the granular detail you need. Conduct standard due diligence using sanctions lists, watch lists, do-not-trade lists, and PEP lists. Then conduct more detailed due diligence by correlating employee disclosures, helpline incidents, and HR information. Understand each supplier risk profile, so you can make informed and confident decisions.
Third-Party Approval Workflows
Built-in workflow automation rescues you from getting bogged down in the onboarding process and accelerates cycle times to get faster yes or no decisions.
- Regularly distribute third-party self-service questionnaires to keep your data current
- Route approvals based on supplier type and engagement size
- Track progress at a glance with customizable dashboards and alerts
"Corporate customers are applying tougher standards to B2B firms than regulators do. In the US, regulatory guidance from the FFIEC, HIPAA, and other authoritative sources is demanding that firms spend more time and attention managing third-party risk."
GRC Vision 2017-2022: Customer Demands Escalate As Regulators Falter, Forrester Research, Inc., February 2, 2017
The light at the end of the third-party risk management tunnel
Convercent can help you get the tactical elements of due diligence and supply-chain risk on track, freeing you to develop a strategic ethics and compliance vision for your organization.