Somerville, NJ (PRWEB) May 07, 2013
Hiperos, the leading provider of high performance Software as a Service solutions for 3rd party management (3PM), today extended its leadership within the 3rd Party Management market with the release of Version 7.0 of its flagship product, Hiperos 3PM. This latest release adds significant features and functionality with broad applications for 3rd party and supply chain risk management in a business environment centered on ever increasing regulatory pressures and cost management. The new release comes at a time when adoption of the Hiperos Platform has increased by 375% in less than 12 months.
Version 7.0 introduces Hiperos’ next generation three-tier architecture, leveraging cutting-edge Internet technologies to deliver a highly responsive new user interface. Designed to optimize 3rd party adoption, the new user interface also improves the ability for corporations and 3rd parties to engage, interact and collaborate. Currently more than 84% of the almost 500,000 Hiperos users are 3rd parties: the vendors, suppliers, contract manufacturers, distributors, resellers that Hiperos customers rely on to deliver the majority of their business value. Today’s global business environment is forcing companies to weigh the benefits of using 3rd parties against the costs and business constraints required to effectively manage them. Used in more than 178 countries worldwide, Hiperos’ Version 7.0 increases the ability of organizations to connect business users with dynamic, multi-level supply chains and subject matter experts, addressing one of the highest cost drivers and complications that organizations face in managing their 3rd parties.
“Corporations are concerned that their inability to adequately manage their 3rd parties and keep pace with changes in the regulatory and business environments is subjecting them to reputational and regulatory risks or creating business interruptions,” said Greg Dickinson, CEO, Hiperos. “They are also concerned that the regulatory environment is impeding their ability to focus on business growth. As a result, the volume of interaction between our customers and their 3rd parties has increased by a staggering 795% over the past year and their use of Hiperos to address business issues such as risk, compliance, training, anti-bribery and anti-corruption is up by 160%.”
Among the high performance enhancements in Version 7.0 is a new banking module. Accurate and complete banking details that adhere to global standards are critical to the 3rd party onboarding process and can reduce onboarding processing times by up to 85%. Hiperos’ banking module is designed to address key requirements for organizations to mitigate the possibilities of 3rd party corruption that subject them to anti-bribery, anti-corruption, or anti-money laundering penalties. It also addresses the pervasive issue of maintaining current information on a 3rd party to reduce the burden on accounting, supplier management and other line-of-business employees.
Hiperos simplifies the complexity of 3rd Party Management (3PM). Through its flagship Software-as-a-Service solution, Hiperos helps companies avoid a value shortfall and fully realize the benefits of using 3rd parties to maximize the value and minimize the risk around brand reputation, achieve regulatory compliance and optimize the customer experience. Hiperos’ clients include many of the world’s leading companies such as Aetna, AON, Astra Zeneca, Bank of Montreal, CA Technologies, Charles Schwab, Microsoft, PNC Bank, State Street, TD Bank, and United Technologies. For more information, visit http://www.hiperos.com.
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Ignite Public Relations