Third party due diligence

Third party risk management (TPRM) is vital in today’s business world. Identifying, managing and mitigating risks to your organisation is crucial for success, growth and resilience.

With recent global crisis and the uncertainties they create, the risks associated with your third parties, especially in your supply chain, are becoming increasingly important and more complex than ever. These can cover meeting regulatory obligations e.g. Know Your Customer (KYC), compliance with your internal risk process and procedures, or better understanding the companies and individuals you may be involved with. Enhancing due diligence is critical to protect your organisation, reputation and brand.

Step one – Identify your risks

Due diligence is an important part of TPRM. Done manually, it is time intensive, inconsistent and messy, especially when it is global. Our automated artificial intelligence (AI) technology makes it efficient, rigorous, scalable and we can tailor it to your risk requirements. Just some of the features you can expect from our due diligence tool include:

• Flexibility in risk assessment
• Breadth and depth of coverage
• Over 90% reduction in false positives
• Translation of over 40 languages
• Speed
• Full audit trail
• Continuous monitoring
• Paperless
• Automated and integrated workflows

Step two – Assess the risks

Our expert team, and our leading technology, gives you confidence that you have identified the key risks which may relate to areas such as bribery, PEPs, sanctions, data breaches and information security, and regulatory investigations or fines. We advise you on what impact the risk could have on your organisation, your reputation and your growth plans.

Step three – Manage and mitigate your risks

Once you have identified the risks and performed an assessment of their impact on your business, we are on hand to delve deeper and advise on how you can manage and mitigate those risks, especially those relating to your supply chain. Your compliance process can be designed and implemented to address this and any further due diligence that may then be required. 

We believe that a well thought out, practical, robust and efficient TPRM process and procedures will allow you to protect your organisation – your people, your reputation and your future, saving time and resource.

How we can help

To keep things simple, we combine the experience and skills of our forensics and consulting teams, together with tech and information security specialists, to offer you a tailored solution. Our artificial intelligence (AI) based technology solution identifies an extensive number of financial, political, reputational, environmental and human risks. From bribery, corruption and fraud through to PEPs, sanctions and watchlists: we have it covered and more. Our team of experts are on hand to delve deeper where it is needed and make the process of intelligence gathering as smooth as possible for you.

Get in touch 

If you would like to understand how our teams can work with you to support your business, please do get in touch. 

Contact us today