Aravo to Power Global Third Party Risk and Compliance Program
SAN FRANCISCO, Calif., August 31, 2015 – Aravo Solutions, Inc., the leading provider of cloud-based Third Party Risk and Compliance solutions, announced today the signing of a multi-year agreement with an athletic shoe and apparel manufacturer to power their global third party risk and compliance program.
The Aravo deployment will upgrade the company’s inefficient, manual data and process environment with Aravo’s best-in-class platform for risk and compliance management. Aravo will be utilized for the collection, validation, assessment, analysis, and reporting of third party information for both current and prospective third parties, including suppliers, retailers, distributors and partners.
Aravo’s newest customer designs, manufactures and sells footwear, apparel, sports equipment and accessories worldwide. The company is globally recognized as a premier brand in the recreation and athletic market. As a result, protecting its brand value is of upmost importance, particularly with respect to external third parties. By utilizing Aravo, all third parties and suppliers will be evaluated based on risk criteria in order to identify those that present elevated risk to the company. Such entities will undergo extensive assessment and validation to ensure they meet the company’s established guidelines and standards.
Aravo was selected due to its deep domain expertise, its successful track record with similar Fortune 500 companies, its ability to rapidly configure unique workflows and processes, and the elegance and ease of use of its user interface and reporting environments.
“Aravo is honored to be selected by such a globally recognized and storied brand” said Aravo CEO Michael Saracini. “Third party risk represents a critical ‘blind spot’ for global corporations. Aravo is resolute in its focus on mitigating this risk for our customers. We welcome our newest customer to the Aravo family.”
About Aravo
Aravo provides the market’s leading third party risk management and regulatory compliance solution. Aravo launched its cloud-based platform in 2004 and continues to serve as the industry’s leading innovator today. Our market-leading third party risk and compliance solutions include Registration and Qualification, Anti-Bribery / Anti-Corruption, Responsible Sourcing, and Data Privacy / Data Security. The world’s best-run businesses utilize Aravo’s platform, including companies like General Electric, Accenture, Salesforce.com, Cisco Systems, Procter & Gamble, and Unilever. Aravo currently supports a user base of over 50,000 buyers managing 2.7 million third parties in 38 languages and 112 countries. Aravo is headquartered in San Francisco, with offices in Dallas, Portland, Monterrey, Mexico and Ahmedabad, India.
