NEW YORK, June 28, 2018 /PRNewswire/ — Today, Control Risks, the specialist global risk consultancy, and GAN Integrity, the leading 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 market-leading software platform with Control Risks’ specialist due diligence capabilities across developed and emerging markets to create a fully digitized compliance process.
“Organizations are relying more than ever on a complex web of global partners to deliver critical support to their businesses. 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. Technology is essential when compliance officers are facing a growing responsibility without a corresponding increase in resources,” said Greg Esslinger, Senior Partner at Control Risks.
“Control Risks and GAN Integrity recognize these challenges and share a passion for finding flexible technology-driven solutions. With VANTAGE, we now offer a best-in-class due diligence product to help clients create a third-party risk management program that can withstand the scrutiny of regulators and live up to the expectations of boards and shareholders,” said Esslinger.
Thomas Sehested, Founder and CEO of GAN Integrity added: “Control Risks is the leader in investigative and due diligence services. Their consultants are second to none in discovering the full picture. To pair that expertise with our market-leading software platform will truly raise the bar for third-party due diligence and give organizations greater peace of mind.”
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With over 90% of 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.
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 of these capabilities into one platform, helping clients drive efficiency, augment internal resources, and minimize risk. VANTAGE is available immediately.