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Build Operational Efficiency and Excellence Through Strategic TPRM
Strategic, holistic third-party risk management (TPRM) is crucial for success within the manufacturing industry. This industry faces significant TPRM challenges, including complex supplier ecosystems, manual processes, and decentralized programs. These challenges can prevent TPRM teams from fully understanding the scope, scale, and diversity of their third-party risks.
To help ensure organization, efficiency, and TPRM improvements, manufacturing organizations require comprehensive visibility across their extended enterprise, as well as capabilities that manage and optimize onboarding, supplier performance, delivery assurances, and other critical processes.
In an industry with a wide third-party threat landscape, manufacturing organizations must efficiently navigate operational, compliance, reputational, and sustainability challenges.
Organizations need to manage and mitigate third-party risks related to:
Decentralized systems, processes, and teams
Disorganized, fragmented data
Reputational and brand risks
ABAC (anti-bribery and corruption)
Sustainability and ESG
Compliance risks
Supply chain disruptions
Vendor performance
When managing complex supplier networks, manufacturing organizations need centralized, effective TPRM solutions that are scalable, robust and contain tested platform functionality.
Our solutions deliver centralized management of TPRM, which helps bring order to your extended enterprise, provides consistency across data fields, ensures efficient onboarding and supplier lifecycle processes, and unified visibility for compliance and reporting purposes.
Centralization of your entire third-party ecosystem
Full third-party lifecycle management
Enhanced risk mitigation workflows and automation
Advanced, efficient onboarding processes
Contract and performance management
Aravo’s Third-Party Risk Management solution has been deployed by manufacturing businesses around the world to help them manage their high volume of third parties, diversifying challenges, disparate systems, and processes.
TPRM Platform: Aravo uniquely provides a powerful TPRM platform that helps manufacturing companies automate and streamline their processes, workflows, risk assessments, and disparate technologies to effectively manage and react to third-party risks. Our enhanced risk mitigation workflows, performance management, and risk intelligence functionality give you the confidence to manage risks proactively.
Anti-Bribery and Anti-Corruption (ABAC): Eliminating unethical sourcing and operations is critical when manufacturing organizations manage a huge network of direct and indirect suppliers. Aravo helps some of the world’s most respected manufacturing brands guard against corruption in their complex third-party networks. Because of this experience, our pre-defined ABAC solution includes a proprietary best practice questionnaire built on guidance from the FCPA and others.
Cyber and Information Security: As third-party-related cyber breaches rise across all industries, manufacturing organizations face severe brand reputation and security risks. Aravo’s IT Vendor Risk Management solution allows you to understand, manage, and mitigate the cyber risks posed by third parties and vendors through centralization and automated workflows.
ESG: Manufacturing organizations have a moral obligation to ensure ethical, responsible, and environmentally friendly behaviors and processes. Aravo’s ESG solution offers a wide variety of applications that help businesses ensure that their extended enterprise operates with integrity and adapts to evolving stakeholder and regulatory expectations.
“Aravo provides GE with a globally accessible application for the management of critical information around our supply base and allows us to syndicate the information to our various purchasing, payables and other systems so that we can have one coordinated view of all supplier activity and commitments. We are confident that the ROI is not just positive, but it’s massively positive.”
– Corporate Initiatives Group,
GE Global Procurement
“The Aravo solution delivered meets our complex, global needs for screening third parties for 3 risk areas, collecting and validating supplier information required to support out procure to pay transactional processes and integrating that information with our SAP ERP system.”
– Financial Services & Solutions Associate Director,
Manufacturing Firm
“Automation – we can chase thousands individuals from a variety of different functions as and when we need to, which includes renewal cycles for various assessments required. The traceability in the system allows us to keep a track of supplier progress and to build plans to further hone our automated workflow processes.”
– Social Accountability Manager,
Global Manufacturing Firm
With a single system for all third-party information and powerful risk management workflow processes, Aravo helps you streamline the management of your third parties throughout the full lifecycle of the relationship.
Our manufacturing experts are on hand to help you start transforming your TPRM program to drive supply chain integrity and reliability, meet evolving stakeholder expectations, protect your brand, and gain confidence in your third-party relationships.
