The Global Technology Distribution Council, an industry consortium representing technology distributors, has launched an anti-bribery and anti-corruption (AB/AC) due diligence platform. The platform, developed in conjunction with Hiperos and Thomson Reuters, will be delivered as a managed network to both GTDC members and other non-member technology firms.
The GTDC AB/AC platform combines processes and best practices developed by GTDC members with Hiperos' third-party management software-as-a-service solution, and Thomson Reuters screening risk assessment and due diligence services. It's designed to address the massive scale, as well as the current costs, complexity, and redundancy of performing due diligence across tens of thousands of third parties.
In addition to eliminating redundant processes and costs, participating companies can implement consistent processes and eliminate the need to vet and monitor the same third-party multiple times, while securely sharing the results with each participating firm.
Because every company has unique business requirements, opportunities, challenges and objectives, the platform allows each member to decide individually how they want to score risk, and if and how they want to proceed with the third party while, at the same time, removing the burden of initial and ongoing due diligence and monitoring.
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