Laws and regulations cover cybersecurity, environmental protection, finances, trade, product safety, labor conditions, and competitive practices, among others. Increasingly, as a manufacturer, you must make sure that your supply base follows the rules as well.
And when your business expands, so does your compliance risk. Whether launching products or entering foreign markets, each extra step means you have to comply with a further bundle of regulations. Add today’s emerging vulnerabilities from uncertain business conditions, and you see why compliance risk keeps growing.
ASK YOURSELF: HOW CAN I KEEP TRACK OF REGULATIONS AND COMPLIANCE THREATS IN MY SUPPLY BASE?
Solution: The riskmethods Solution TM retrieves risk data from commercial and government databases, and specialized risk data providers including IntegrityNext (supplier assessments) and European Compliance Company (ECC) & FORMAT (automated sanction-list checks). You receive:
- Instant compliance risk evaluation of your business partners
- Early warnings of image or compliance violations.
Equipped with such information, you save time, protect your business from negative publicity and improve your risk awareness.