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Third Party Registration and Qualification
SAN FRANCISCO, Calif., February 10, 2015 – Aravo Solutions, Inc., the leading provider of cloud-based Third Party Risk & Compliance solutions, announced today the signing of a multi-year agreement with a subsidiary of a multi-billion dollar global imaging products company based in Tokyo, Japan to power their third party adaptive procurement & sourcing practices. As a part of its core business model, this company embeds strategic third parties/suppliers within the operations of its customer base to deliver on their value proposition. As a result, should a third party/supplier be non-performant it presents significant risk to the company’s reputation and brand image. They desired a solution that could be rapidly deployed to adequately register and qualify their third parties/suppliers in order to control their reputational risk. The company selected Aravo’s Third Party Registration & Qualification application designed to be deployed in a matter of weeks due to its pre-built library of registration and compliance content, workflows, and communication templates.
Aravo’s most recent customer is dispersed through Japan, China, Thailand, India, Philippines, Indonesia, Australia, Hong Kong, Taiwan, New Zealand, Singapore and the United States. It specializes in providing embedded design, digital, print, retail, and broadcast marketing production services to its customer base. After surveying the marketplace, Aravo was selected for its unique ability to codify third party registration, risk, and compliance best practices content into a streamlined, easy to deploy application and an easy to use and intuitive interface.
“This win validates Aravo’s commitment to creating content rich third party risk and compliance applications that can be deployed in weeks, not months”, said David Rusher, Vice President of Product Strategy at Aravo. “The market is demanding rapid time to value given the heavy regulatory environment. Companies can no longer wait six months to a year to ensure that their third party/supplier relationships are clean and compliant. We’ve seen an increased level of interest in automating these types of programs within a centralized platform like Aravo over the past 12 months, particularly within the Asia Pacific region. It’s exciting to see the Aravo solution expanding coverage around the globe.”
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 General Electric, Accenture, Salesforce.com, Cisco Systems, Unilever, and DuPont. 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 Chicago, Dallas, Portland, Monterrey, Mexico and Ahmedabad, India.