Somerville, NJ (PRWEB) April 23, 2013
Hiperos, the leading provider of Software as a Service solutions for 3rd party management (3PM), announced today that CEO Greg Dickinson will be presenting at the Oil and Gas Supply Chain Compliance Conference taking place in Houston on April 30–May 1. Dickinson’s presentation, scheduled for 11:30 a.m. Central Daylight Time on April 30, will address senior compliance, legal, audit, and supply chain executives, and caution them regarding the need to re-think traditional ways of addressing supply chain risk and compliance, including ways to better protect themselves against corruption. For information on this exclusive event, please visit http://oilandgas-compliance.com/. Interested parties can also visit http://www.hiperos.com for more information on anti-corruption strategies and solutions.
Corruption is the number one ethics and compliance challenge for companies in the oil and gas industry, in large part because most oil and gas is produced in emerging markets where compliance standards are difficult to enforce. Additionally, many oil and gas companies are exposed to corruption and bribery because they partner with foreign governments or government-owned ventures, leaving them liable for bribery or corruption-related activity done on their behalf by local representatives. Given the reliance by the oil and gas industry on 3rd party suppliers, these local vendors are an integral part of the supply and value chains that they support. Failure by 3rd parties, for whatever reason, to deliver products and services in compliance with contracts and regulations can have severe operational and financial consequences. New thinking must be applied to the situation – the increasing number of companies investigated under anti-bribery laws suggests that traditional approaches to 3rd party anti bribery/corruption are no longer enough.
The cornerstone of federal anti-corruption regulation is the Foreign Corrupt Practices Act (FCPA), which makes it unlawful for multinational companies traded on the U.S. stock exchanges, individuals, and 3rd party intermediaries to pay foreign government officials to help retain or obtain business. Recent FCPA guidance -- issued by the Securities and Exchange Commission and Department of Justice -- contains specific wording as to the use of 3rd parties, which cautions that companies must be doing much more than limited initial due diligence in order to achieve compliance.
In light of the FCPA guidance, Dickinson’s presentation – entitled “Supply Chain Compliance in a Post FCPA Guidance Era” -- will provide insights into recent changes in today’s regulatory environment and the impact on business conditions, corporate risk and governance obligations. Dickinson will also illustrate how specific companies are utilizing Hiperos’ SaaS technology in innovative ways to effectively manage their 3rd parties and thereby address risk, compliance and performance.
Hiperos simplifies the complexity of 3rd Party Management (3PM). Through its flagship SaaS (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, AXA, Bank of Montreal, CA Technologies, Charles Schwab, Huntington Bank, Mondelez, Microsoft, PNC Bank, State Street, Thomas & Betts, TD Bank, and United Technologies. For more information, visit http://www.hiperos.com.
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Ignite Public Relations