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Use case
Multi Product Use Case: Manufacturing an Ethics & Compliance Program
DownloadAbout this Use case
Fortify third-party relationships through a strong, internal E&C program.
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- For anyone responsible for:
- Ethics and compliance training program creation or management, vendor management, third party risk management
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- Industry:
- Manufacturing
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- Batch upload your existing third-party engagements, and new engagements as they arise.
- Justify business need and scope third-party risks. Distribute questionnaires, code of conduct, policies and training to your third-parties to align them with your culture and expectations for ethics and compliance.
- Continually monitor your third-party network in line with your organization’s risk profile to proactively assess and engage your third-parties.
- Have Confidence in Your Third-Party Solution: RiskRate allows you to automate management of your third-party relationships – whether this is a few hundred or a few hundred thousand. Visual risk ratings are generated and scored in line with your organization’s unique risk profile.
- Eliminate Duplicative Efforts: House your global third-party risk management process in a single, central platform, accessible by as few or as many employees as your organization needs to manage and track third-party relationships and their risk status across your organization.
- Audit-Ready Reporting: Detailed relationship histories from onboarding to screening to monitoring are housed in a single platform – making it easy to access and share your third-party risk status.
- E&C Peace of Mind: The NAVEX ecosystem provides a holistic ethics and compliance program with tools for policies and procedures, training, and hotline and case management to not only meet regulations but to also build a strong culture. Our solutions are built on over 35 years of experience and manufacturing is the top industry with which we work. For your organization, this translates into customer-driven solutions and value.
Read the Use case
Manufacturing an Ethics & Compliance Program
Fortify third-party relationships through a strong, internal E&C program.
| The Challenge: | The Solution: |
|---|---|
| Managing ethics and compliance risks and regulatory requirements in the manufacturing industry is a top priority and challenge. Not only do manufacturers need to build positive cultures within their own diverse and widely distributed workforces, but they are also connected to a larger community of third-parties: suppliers, vendors and distributors that are playing an increasingly important role in manufacturers’ success. Third-parties have the potential to impact a manufacturer’s reputation and bottom line, especially if they are operating outside of social, organizational or regulatory expectations. | NAVEX’s ecosystem covers a manufacturer’s ethics and compliance concerns internally and externally. Internal concerns are managed with a central repository of policies and procedures in PolicyTech®; risk-based employee training assigned and tracked through NAVEXEngage®; and multichannel reporting and incident management organized and resolved with EthicsPoint®. Externally, these concerns extend to third-parties and other stakeholders with RiskRate®, NAVEX’s third-party risk management solution. This empowers your organization to thoughtfully build, educate and monitor your third-party network. |
Process: Extend Your Ethics & Compliance Efforts to Third-Parties
Benefits
About NAVEX
NAVEX’s GRC software and compliance management solutions support the integrated risk, ESG and compliance management programs at more than 13,000 organizations worldwide.
