Understand, manage and mitigate the reputational and sustainability risks posed by your third parties and their engagements.
Ensure third parties are operating in compliance with environmental, health and safety and human rights requirements, while adhering to the highest of ethical standards. Protect your brand reputation and equity, and drive corporate responsibility.
Responsible sourcing is back up the boardroom agenda as it is so tightly connected to brand reputation, and a natural extension of an organization’s commitment to corporate responsibility. One bad apple in a third party network can lead to a substantial amount of adverse publicity, damaging a company’s reputation and brand value. Research suggests that corporate reputation makes up 33% of the market value of the FTSE 100, making reputation an important business asset to protect. We see examples in the headlines every day from child labor being exposed in clothing factories in Myanmar, to environmentally damaging and unsustainable palm oil production in Indonesia. Regulatory scrutiny is escalating, and that combined with informed consumers, powerful advocacy groups and the power of social media mean that unethical third party and supply networks are bad for business.
Aravo for Responsible Sourcing allows you to implement, manage, and enforce consistent and objective responsible sourcing compliance programs for all your third parties, regardless of scale. Best practice assessments and workflows enable organizations to rapidly implement a control framework that mitigates key sustainability, labor, environmental safety and material sourcing risks, which can otherwise result in fines, reputational damage, and loss of shareholder value.
Dramatically reduce the time required for the assessment and due diligence of third parties. By eliminating multiple inventories and manual processes that rely on unreliable email and spreadsheets, you save time, gain productivity and deliver consistent and scalable programs
Integrated risk management across the full third party relationship life cycle.
Understand risk exposure, and be alerted to changes in risk and compliance posture for issue management and remedial action.
Reduce operational burden with automated processes, saving time and resource.
Single version of the truth.
Cuts through data and business silos and improves reporting and governance.
Rapid time to value.
With pre-defined workflows and reporting.
Better strategic performance.
Enterprise reporting and insight to make more informed decisions and drive better third party outcomes.
Better governance and oversight.
Powerful reporting and complete auditability demonstrate compliance to senior management, internal audit and examiners.
Built on technology that supports the scale, complexity and change dynamics associated with third party risk programs.