Third Parties Due Diligence
PROCOMP enables Third Parties Due Diligence, integrating along with the infoprovider to retrieve ownership structures, organisational structure, reputational analysis and sanction lists. In addition, it allows third party and negative news management thanks to Artificial Intelligence.
With Adverse media we call the set of news and information discriminating against a company, which could compromise its credibility and lead other companies to evaluate whether or not to enter into a partnership with it.
The system allows stakeholders to be involved so that they can contribute to the analysis phase of the third party, integrating external providers and automatically managing searches on open sources.
The Workflow is configurable on the Customer's needs.
The workflow is articulated in:
- Onboarding of the third party by the business function.
- Due Diligence Diligence Phase 1: above a preliminary risk level, the analyst proceeds to a detailed investigation by means of various controls depending on the type of DD.
- Due Diligence Diligence Phase 2: if the analysed third party is found to have an inadequate level of risk, further investigation can be carried out.
"Third Parties Due Diligence" effectively manages adverse mediathanks to the AI algorithms able to:
- process thousands of news the highest levels of accuracy;
- elaborate data to identify news sentiment;
- avoid the linguistic limits of text content search on the web;
- define keywords about the organization or people involved;
- take user feedback into account by refining searches;
- interface with lists and external providers (e.g. World Compliance, World Check, Dun&Bradstreet, Bureau Van Dijk and Cerved) and automate related searches on open sources for negative news management.
PROCOMP is the first digital transformation platform for GRC processes to have introduced the innovative notarization in Blockchain.
Blockchain certifies the date of data entry in third-party surveys. These surveys are usually complex, intricate, and expensive.