Solution helps global enterprises accelerate and strengthen due diligence, and reduce compliance risk associated with third parties.
SAN FRANCISCO, Calif., May 25, 2017 – Aravo Solutions, the leading provider of SaaS based solutions to support the complex third party risk and compliance demands of the Global 2000, today announced the integration of the Aravo Enterprise platform with data from Dow Jones Risk & Compliance, to provide a fully integrated due diligence solution for enhanced third party risk management.
The real-time information exchange between Aravo and Dow Jones Risk & Compliance allows customers to seamlessly incorporate Dow Jones risk-relevant data on companies, individuals, court documents, sanctions and adverse media coverage directly into their due diligence process within the Aravo platform. All the appropriate workflow, documentation and audit trail activity is captured within Aravo to support better risk-based decisions, ongoing monitoring, and governance and reporting requirements.
The solution will help companies to improve their anti-bribery and anti-corruption (ABAC) and responsible sourcing programs in line with rising governance standards and regulatory mandate.
“This collaboration is part of our on-going commitment to deliver the governance capabilities, scale and agility that global enterprises require to successfully manage third party risk,” said David Rusher, Senior Vice President of Product Strategy and Alliances at Aravo Solutions. “Third party identification and due diligence is a critical element of third party risk management and this partnership brings together the best workflow technology and leading content to streamline this process. This specific integration has been highly requested by our client base of Global 2000 companies, and we’re excited that we’ve formalized our partnership with Dow Jones Risk and Compliance.”
“Dow Jones Risk and Compliance’s proprietary third party risk data is a strong complement to Aravo’s technology,” said Joel Lange, Managing Director, Dow Jones Risk and Compliance. “By embedding the structured intelligence of Dow Jones data within Aravo’s advanced workflow technology, customers can take rapid action, and continually monitor, assess and mitigate risk throughout the lifecycle of their third parties in a much more efficient and scalable way.”
The integrated solution allows clients to manage the entire universe of their third party ecosystem, supporting due diligence across all types of third parties including suppliers, vendors, distributors, resellers, agents, partners, affiliates, contractors and brokers. Because Aravo’s SaaS platform was built to scale to the unique and complex demands of the Global 2000, it means that even enterprises managing tens of thousands to many hundreds of thousands of third parties globally can categorize vendors according to high and low risk across a range of risk categories, and manage in an effective and agile way that provides confidence to their board, regulators and shareholders.
More information on the solution which is available in the current release of the Aravo platform, is available here: https://aravo.wpengine.com/blog/empowered-third-party-due-diligence-aravo-and-dow-jones-risk-compliance/
Aravo (aravo.com) delivers market-leading SaaS solutions for managing third party risk and compliance at scale. We help Global 2000 companies protect their business value and reputation by managing the risks associated with third parties and suppliers, and to build business value by ensuring that their third party relationships are optimized.
Aravo has assembled unique domain expertise and best practice approaches from more than 16 years of delivering successful implementations to global companies with the most complex supply and third party networks in the world. Leading brands across a diverse range of industries count on Aravo for end-to-end enterprise third party risk management together with specialist applications to support anti-bribery and anti-corruption, data privacy and security, responsible sourcing, and registration and qualification/know your supplier programs.
Providing unrivaled regulatory agility and ease-of-use together with actionable executive reporting, Aravo supports a user base of 94,000 corporate users, managing 3.9 million third party users in 33 languages and 154 countries. Aravo is headquartered in San Francisco, with offices and partners across the US, Europe and Asia.
In 2016, Aravo was recognized with GRC 20/20’s Value Award for Third Party Management for providing measurable value in GRC efficiency, effectiveness and agility. Aravo was named as a Category Leader with the highest “Completeness of Offering” of any provider in the Chartis RiskTech Quadrant® for Third Party Risk Management Solutions 2017.