SAN FRANCISCO, Calif., April 27, 2016 – Aravo Solutions, the only platform that can support the complex third party risk and compliance demands of Global 2000 organizations, announced today that a leading American automaker has signed a multi-year agreement with Aravo to power their global third party risk and compliance program. When fully deployed, the Aravo Enterprise solution will provide automated risk management for over 700,000 third parties. The solution will automatically initiate risk mitigation for high-risk third parties, enabling the company to conduct due diligence.
Before adopting Aravo, the company had been relying on ad hoc data collection through manual processes, forms, and the use of a due-diligence repository. To make its compliance programs more comprehensive and efficient, the company chose Aravo for third party compliance. Leveraging deep domain expertise and scalable cloud technology, the Aravo solution will provide the company’s business leaders and compliance teams with a single view of the “truth” about the company’s hundreds of thousands of third parties.
“We are honored to be working with a world leading automaker and such a globally recognized brand,” said Aravo Solutions CEO, Michael Saracini. “Third parties in the automotive industry extend across a very broad spectrum, from business consultants to specialized parts suppliers to software engineering firms. We have designed our cloud-based platform to be flexible and scalable enough to manage extraordinarily high numbers of geographically distributed third parties serving globally diverse needs. We look forward to working closely with our newest customer as they broaden and optimize their global third party compliance program.”
Aravo’s employees are dedicated to making the world more ethical by eliminating corporate corruption and social injustice. Aravo manages complex third party Governance Risk and Compliance (GRC) programs for the industry leaders in pharmaceuticals, oil & gas, financial services, consumer packaged goods, retail, aerospace & defense, technology, mining, automotive and manufacturing. Accenture, BAE Systems, Cisco Systems, GE, Lloyds Bank, Pfizer, P&G, Unilever, and Visa, among others, count on Aravo’s market-leading cloud-based solution to achieve global continuous insight into third party risk and compliance. Applying technical innovation and deep domain expertise, Aravo’s market-leading SaaS platform delivers unrivaled configurability, regulatory agility, ease-of-use, high performance and scalability. Aravo currently supports a user base of 65,000 corporate users managing 3.1 million third parties in 33 languages and 112 countries. Aravo is headquartered in San Francisco, with offices and partners across the US, Europe and Asia.