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Aravo to Power Best-in-Class Third Party Registration and Qualification Initiative
SAN FRANCISCO, Calif., March 31, 2014 – Aravo Solutions, Inc., the leading provider of cloud-based Third Party Risk & Compliance solutions, announced today the signing of a multi-year agreement with the world’s largest global consumer packaged goods company to power their Third Party Registration, Qualification, and Onboarding initiative. The globally deployed solution will register third parties/suppliers, validate information against multiple independent data providers, and route it to the appropriate internal parties for review and approval/rejection. The Aravo solution will be integrated to LexisNexis for Bridger Watch List checks, Accuity for bank validation, Dun & Bradstreet for corporate hierarchy validation, IRS and VIES for TIN and VAT validation, and ultimately to SAP. The solution will be deployed globally utilizing Aravo’s rapid localization capabilities – automating the complete third party registration processes, increasing efficiency and data accuracy, and dramatically reducing costs.
Aravo’s newest customer sells more than 80 brands in North America, Latin America, Europe, the Middle East, Africa, Asia, Australia and New Zealand. It organizes itself into four core business units – Beauty, Hair, and Personal Care; Baby, Feminine, and Family Care; Fabric and Home Care; and Health and Grooming. More than 100,000 third parties/suppliers support the various lines of business. Without the proper automation, managing this vast number of relationships represents a highly complex challenge. After performing significant due diligence, the Aravo solution’s unique combination of process automation, integrations to independent data sources, and rapid localization capabilities differentiated Aravo from the competition, leading to the award.
“We are delighted to be partnered with this globally recognized, household brand,” said Michael Saracini, Chief Executive Officer at Aravo. “Aravo has invested heavily in research and development to produce world class third party registration, risk, and compliance solutions for the consumer packaged goods industry. With this agreement Aravo is now partnered with two of the top three consumer packaged goods companies. We are honored to be receiving such strong validation of our efforts and the value of our solution.”
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 36,000 buyers managing 2.4 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.