Business spend management (BSM) platform Coupa Software announced the acquisition of Hiperos, a third-party risk management provider and division of Opus. The acquisition provides businesses with the technology to extensively evaluate the risk of their full supplier base to further protect their brand and bottom line.
Based in Branchburg, N.J., Hiperos’ cloud application enables businesses to actively manage third-party risk and compliance, including advanced risks such as information security, bribery and corruption, and demanding new data privacy regulations like the General Data Protection Regulation (GDPR). As part of the Coupa BSM Platform and marketed as Coupa Risk Assess, Hiperos enables companies to:
- Assess supplier relationships from the beginning (prior to contract) as well as the breadth and depth of work each supplier does with the company;
- Identify risk throughout the supply chain by gathering comprehensive information on suppliers’ suppliers;
- Manage risk and compliance with multiple risk domains (e.g. InfoSec, FCPA, GDPR, etc.) and comply with new risk domains as they emerge; and
- Proactively communicate risk information to decision makers so that spend and risk management decisions can be made effectively while managing action plans to de-risk the entire supplier relationship.