Monitoring the compliance of thousands of third parties to your policies and procedures and regulatory requirements across the enterprise has become critically important.
Companies are increasingly being held accountable by regulators and the general public for the actions of their third parties. As a result, you need to:
- Communicate relationship-specific compliance requirements to all your third parties
- Keep track of whether your third parties have met their obligations for your compliance programs like data security & privacy, insurance certifications, business continuity, and I-9’s.
- Follow-up on a periodic basis to provide new requirements and/or reaffirm compliance
Compliance management is core to Hiperos 3PM. Whether you need to monitor compliance for a limited number of strategic providers or tens of thousands of suppliers, Hiperos delivers a proven solution:
- Out of the box templates make creating compliance programs fast, consistent and effective
- Intelligent workflow directs requests and approvals directly to the appropriate internal or third party resources
- A centralized third party information environment in which all stakeholders can collaborate across job functions and lines of busines
- Automated, intelligent alerts and action plans ensure compliance data is up-to-date