Global risk consultancy Control Risks and GAN Integrity, a provider of compliance management software, launched a new end-to-end third-party due diligence solution to help compliance teams across the globe manage third-party risk. VANTAGE combines GAN’s software platform with Control Risks’ specialist due diligence capabilities across developed and emerging markets to create a fully digitized compliance process.
With most FCPA cases being third-party related and an ever-shifting sanctions environment, the Control Risks/GAN Integrity partnership unites technology and compliance expertise to directly address the complex demand for third-party due diligence. Accessed through a single platform, VANTAGE will enable organizations to focus their efforts on mitigating risk instead of managing multiple vendors, tools, and services.
The financial and reputational risks presented by these third parties are not only increasing, but must be constantly monitored and addressed as part of any compliance program,” said Greg Esslinger, senior partner at Control Risks. “Technology is essential when compliance officers are facing a growing responsibility without a corresponding increase in resources.”
VANTAGE consists of core modules including third-party onboarding; tiered screening options from automated database checks to in-country due diligence; risk assessments and questionnaires; approval workflows and active monitoring. These features enable compliance teams to adopt a fully automated, risk-based, approach to managing third-party risk. VANTAGE brings all these capabilities into one platform, helping clients drive efficiency, augment internal resources, and minimize risk and is available immediately.