Aravo supports the Manufacturing Industry

Manufacturing

As manufacturing firms manage a large network of suppliers, any disruptions or bottlenecks in third-party onboarding and management can be costly. Regulators are placing increased scrutiny on eliminating bottlenecks and boosting resilience.

Third-Party Risk Management and Compliance Requirements for Manufacturing Companies

Bottlenecks in third-party onboarding and management can be as costly as production bottlenecks. Delays in obtaining and validating third-party financial and insurance verifications and health and safety environmental and quality (HSEQ) documentation can impact productivity. Regulators are also reviewing third-party onboarding and assessment processes for compliance with responsible sourcing, anti-bribery and corruption regulations like FCPA or UK Bribery Act, and other requirements that can result in heavy financial and reputational losses.

Customer Success

General Electric uses Aravo to manage its third-party relationships – a complex, multi-tier third-party supply chain encompassing hundreds of thousands of organizations. Aravo enables GE and other manufacturers to comply with all relevant third-party regulations, including those related to Human Rights, Health & Safety, Environment, and Ethics. Key advantages of the Aravo solution include its highly flexible architecture, enabling changes to be made quickly and applied through entire areas of the platform, and foreign language support.

Using Aravo, GE achieves “a single version of the truth” regarding its third parties and their status with regulatory compliance.

Every one of our entities needs a strong vendor management and vendor compliance solution. We are confident that the ROI is not just positive, but it’s massively positive.

GE Global Procurement

Pharmaceutical & Life Sciences - Third-Party Risk Management

Third-Party Risk
Management

Customer Insights

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ROI is not just positive, it’s massively positive

“Aravo provides GE with a globally accessible application for the management of critical information around our supply base and allows us to syndicate the information to our various purchasing, payables and other systems so that we can have one coordinated view of all supplier activity and commitments. We are confident that the ROI is not just positive, but it’s massively positive.”

– Corporate Initiatives Group,
GE Global Procurement

Read the case study

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Meets our complex, global needs for screening third parties for 3 risk areas

“The Aravo solution delivered meets our complex, global needs for screening third parties for 3 risk areas, collecting and validating supplier information required to support out procure to pay transactional processes and integrating that information with our SAP ERP system.”

– Financial Services & Solutions Associate Director,
Manufacturing Firm

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Aravo’s strength lies in its automation

“Automation – we can chase thousands individuals from a variety of different functions as and when we need to, which includes renewal cycles for various assessments required. The traceability in the system allows us to keep a track of supplier progress and to build plans to further hone our automated workflow processes.”

– Social Accountability Manager,
Global Manufacturing Firm

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What we do

Aravo delivers award-winning, market-leading cloud-based solutions for managing third party governance, risk, compliance, and performance.
Third-Party Risk and Performance Management Supplier Risk and Performance Management Vendor Risk Management Contractor Risk Management
Our Expertise
Expertise
Who We Help
Customers

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