Hiperos, an Opus Global company and a provider of third-party management software, and Dow Jones, a global provider of news and business information, this week announced a strategic partnership to deliver third-party anti-bribery/anti-corruption (ABAC) compliance solutions globally.
The new strategic alliance brings together complementary components in the anti-bribery/anti-corruption compliance (ABAC) value chain, including risk and compliance data and third-party management software. The firms have collaborated to build a seamless real-time interface connecting Dow Jones Risk and Compliance data with the Hiperos 3PM third-party management platform, delivering a rapid-response ABAC solution. The new interface is already tested, released and available in the current release of the Hiperos platform.
The collaboration is in response to continued pressure on companies to improve their ABAC programs in line with rising governance standards and regulatory mandates, including the Foreign Corrupt Practices Act (FCPA), and increasing demand for better responsiveness and performance. The initiative recognizes that monitoring all third parties on a continuous basis maximizes effectiveness in detecting bad actors.
The solution covers a broad range of third parties, including distributors, resellers, partners, affiliates, suppliers, vendors, brokers and agents. It also covers a complete range of industry verticals including media and entertainment, oil and gas, life sciences, defense, energy, financial services, retail, manufacturing, real estate and technology.