Somerville, NJ (PRWEB) October 28, 2013
Hiperos, the leading provider of the industry’s first automated, intelligent Software as a Service (SaaS) solution for third party management, announced today that CEO Greg Dickinson will be presenting at Momentum’s Anti-Corruption Experts, taking place in New York City on October 28-29. Dickinson will moderate a panel scheduled for 11:30am EDT today, October 28, discussing risk-based third party vetting: screening, and monitoring strategies for partners, vendors, contractors, brokers and agents in high-risk jurisdictions.
Moderating a panel of expert corporate practitioners, Dickinson will outline how companies are implementing robust, defensible anti-corruption/Foreign Corrupt Practices Act (FCPA) compliance programs to ensure consistent, initial due diligence and ongoing monitoring of their third parties, while managing the complexities involved in dealing with thousands of global vendors, contractors, suppliers and other third parties.
Bribery and corruption continues to be one of the top legal and regulatory concerns for global organizations across many industries, oil and gas, manufacturing, pharmaceuticals electronics, industrial automation and financial services. An increasing number of countries are enacting or broadening the scope of their anti-bribery and anticorruption (ABAC) laws extra-territorially. This, combined with recent unprecedented anti-corruption enforcement activities by authorities in China, is forcing companies to rethink their processes to screen and monitor third parties, especially in countries that are considered to be “high-risk”. It is also causing board of directors to question their risk governance responsibilities and demand appropriate frameworks to review the effectiveness of their compliance programs.
“In many companies, risk, compliance and audit staff are spending more than 80% of their time managing documents and spreadsheets and trying to reconcile information, and less than 20% managing and demonstrating risk and compliance,” said Greg Dickinson. “Using manual processes to address compliance is no longer enough. Companies are turning to technology solutions that allow them to enforce their bribery and corruption policies consistently and objectively worldwide. We are pleased that many companies in key industries are adopting Hiperos’ solution in an effort to improve their ABAC compliance challenges.”
Ignite Public Relations