Registration & Qualification

Consistent, accurate and diligent third party and supplier onboarding at scale. A single version of the truth of all third parties together with robust know-your-supplier (KYS) and know-your-third party (KY3P) processes for better risk management.

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The Backdrop

Global organizations work with thousands, to many hundreds of thousands of third parties and suppliers. The complexity of these third party ecosystems and the importance of corporate reputation to share-holder value, mean that effective third party management is a key strategic priority.

The foundation of effective third party and supplier management programs is an effective, consistent and diligent onboarding process. Yet too often this is managed disparately, across various business teams, regions and multiple data silos. As a result, onboarding is not a consistent, standardized and centrally managed process – slowing down your business and creating many silos of risk exposure.

A strategic and connected approach to the registration and qualification of third parties and suppliers saves time, reduces risk and improves communication and compliance.

Regulatory Drivers

Businesses need to navigate multiple regulatory drivers in their decisions of who to do business with, including anti-bribery and anti-corruption, environmental, health & safety, human rights, and responsible sourcing laws.

How We Help

As the Third Party Management market pioneer, Aravo has defined best practices for Third Party Management for over fifteen years. Working with companies with the most complex and globally dispersed third party networks in the world, we have assembled impressive domain expertise on what works, and are proven to scale.

End-to-End Enterprise Capabilities Include

Onboarding

Ensures that the required third party process, including due diligence, risk management, compliance, sourcing, procurement and performance are delivered in an automated, centralized and consistent fashion that can be easily tracked and audited.

Third Party Portal / Registration

Automates and standardizes the Registration process to ensure that all required information is gathered and kept up-to-date on an ongoing basis.

Qualification

Ensures that all Third Parties and trading partners meet or exceed regulatory standards and those standards established by your organization.

Master Data Management (MDM)

Provides a single source of truth for third-party and supplier information, providing an enterprise-wide view of third parties. Relational data model allows many-to-one relationships between Aravo and third party records in other enterprise systems.

Due-Diligence

Automate initial and ongoing due diligence with a systematic and consistent approach. Facilitate credit checks, beneficial ownership checks, sanctions and watch-list screening, information security audits, and the collection of appropriate documentation and certification.

Contract Management

Store and manage contracts with workflow-driven reminders, reviews and approvals.

Risk scoring, assessments and management

Automatically and continually score and assess the risks of your third parties. Integrate risk data from past events, third-party information and screening processes. Manage and control those risks through contract management and mitigation programs.

Regulatory Compliance

Manage both corporate and industry-specific regulatory compliance, including anti-bribery, anti-corruption, FCPA, Anti-Slavery, Conflict Minerals, and Trade Compliance programs. Comply with CFPB and OCC in the U.S. and FCA in the U.K. for financial services.

Compliance Management

Ensure third parties are adhering to compliance programs for code of conduct, information security, environmental, health and safety standards, and responsible sourcing. Use the platform for training and Learning Management System LMS requirements.

Monitoring and performance review

Leverage powerful dashboards, reports and drill-down capabilities that providing continuous monitoring and flag risk and performance issues.

Audit

Evidence compliance with always-ready audit.