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Third-party risk
Supply chain risk
Protect your supply chain from regulatory and reputational risk by conducting thorough due diligence on your suppliers before and throughout a business relationship.
Globalisation’s impact on present and future supply chains cannot be underestimated.
Often what leads to mishaps is not the complexity of supply chains but the lack of management, transparency and monitoring, which are fundamental factors from the start of the supply chain through to the end-consumer.
Organisations need to fully understand their regulatory compliance obligations. Having a thorough understanding of anti-bribery and corruption regulations, such as the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, and knowledge of any sanctions risk that a supplier or third party may pose, is key.
Furthermore, exposure to reputational risk needs to be considered. For example, a supplier that is associated with human rights abuses or environmental violations can compromise your company’s good standing. Emerging risks such as cyber and data security risks also can have a knock-on effect on market value and reputation. The consistent implementation of a risk-based compliance programme is crucial.
What is supply chain risk management?
By conducting due diligence on your suppliers to assess any risk they may pose, you are able to make informed decisions about whether to onboard or continue a business relationship.
It is important that supply chain due diligence is conducted at the start of a proposed relationship, and there should be continual monitoring for any change in risk exposure throughout the lifetime of the relationship.
Failure to assess and manage third-party risks can result in financial loss, reputational damage, critical supply chain disruption and regulatory enforcement.
Risks we cover
What risks can your business be exposed to?
Manage people-related incidents in your supply chain network such as misconduct, anti-competitive behaviour, bribery and corruption, and fraud.
Assess third parties in your supply chain network based on their compliance with environmental and social regulations, and governance policies.
Ensure that third parties do not misuse intellectual property or confidential information disclosed to them.
Assess whether a third-party can deliver what it says it can, to mitigate potential exposure to supply interruption.
Encourage open sharing of information and accountability at all levels of the supply chain to ensure transparency of third parties’ sources of wealth.
Establish a third parties’ financial health and stability and uncover any financial irregularities.
Our solution
Keep ahead of the risks
We help you assess, manage and mitigate risks in your supply chain and distribution network, so your company can be protected against reputational damage and financial loss. If your company works with numerous third parties – whether in technology, healthcare, extractive or other sectors – you will strive to reduce operational costs while managing the complexity of your operations associated with suppliers.
Our solutions help safeguard your reputation and meet regulatory obligations throughout your third-party relationship lifecycle – from onboarding and continuous monitoring to renewal.
Screen your third parties
Refinitiv World-Check Risk Intelligence is a database consisting of millions of profiles that will help you uncover hidden risks in business relationships and human networks. Identify high-risk or sanctioned entities and individuals - including foreign officials and state enterprises.
Receive ratings, insights & analysis
Obtain a holistic picture of your suppliers and any potential risks with Refinitiv Due Diligence Reports. Each report features adverse media searches, in-depth background checks, corporate registration data as well as litigation and regulatory database checks. Contact us to get a free sample report.
Access our technology platform
Refinitiv Due Diligence Centre is a technology platform that will help centralise third-party risk management processes and guide stakeholders throughout the lifecycle of third-party relationships – including initial assessment, onboarding, ongoing monitoring, renewal or end of life.
Partner with us for support
Using our third-party onboarding programmes and managed screening services will help create more efficiency for your business and give you more time to spend on strategic tasks.
Benefits
Why we are trusted worldwide
Our researchers only access risk information in the public domain, using non-invasive data collection methods.
Various human intelligence sources, leveraging structured World-Check Risk Intelligence data accredited with ISAE 3000 standard.
With local people in all major markets, we understand the local nuances and details, even where information may be less reliable.
Insights
Learn more with our supply chain risk resources
Our specialists will tailor a supply chain risk solution to help solve your specific needs.
We're here for you
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