Webinar: Cost of Vendor Management

Join us on Thursday February 28th at 12 Noon EST as we study the true cost of vendor management. During this webinar, we will take a look at the tactical costs of interacting and transacting with Third Parties as well as make a case to consider a well designed vendor management program a valuable asset.

Topics to be covered:

• Definition of Vendor/Third Party

• Vendor On-Boarding Best Practices

• Vendor Monitoring Policies

• Results of Trust Exchange Vendor Management Cost Study

• Analysis of Results and ROI

• Impact of Collaboration..Value Creation

  This will be following by a Question and Answer session. Additionally, we may be joined by an industry expect to share their experience. Don’t miss this one!

The Humanitarian Side of Vendor Management

BDP International, a Trust Exchange customer, explains in a recent report how our platform is uniquely designed to monitor and investigate its vendors, partners and customers, ensuring all are compliant with international policies on anti-corruption and anti-trafficking.  The article, Special Report on: Human Rights, published by Ethisphere Institute, highlights the continuing issue of human rights violations around the world, and cites several organizations, including BDP, who are taking a proactive approach to addressing these challenges.   

"The private sector has an ability to positively combat [human rights] challenges through creating and enforcing proper policies, engaging with governments and NGOs focused on ending these abuses, and working together to ensure suppliers, partners and other stakeholders are aligned with similar goals," says Stephen Linssen, Chief Compliance Officer of Ethisphere.  "By its nature, exact data and metrics around forced labor and other abuses are hard to come by, but reports by the U.S. Department of State and Human Rights-focused NGOs estimate that more than 20 million people worldwide are forced to work against their will and without compensation."

So how exactly is Trust Exchange, a compliance/vendor management software, helping combat human rights violations, you ask?

By providing unique, real-time means for companies to investigate and monitor their business partners.  BDP is committed to ensuring that its organization, partners and vendors adhere strictly to anti-corruption and anti-human trafficking policies, and depends on Trust Exchange's customizable compliance platform to do just that.

"We rate partners through trust certificates benchmarked against best practices in the industry", says Catherine Muldoon, Chief Legal Officer of BDP International, Inc. in the article entitled "The Logistical Approach".  "[With G2Link] monitoring is automated consistent with the policy requirement we created. Thus, we maintain oversight in real time and are alerted as soon as behavior deviates from policy requirements."

BDP and Trust Exchange aren't alone in their commitment to combat human rights violations.  The co-author of "The Logistical Approach" is Caitlin Smith, who is completing a concentration in Business and Entrepreneurship Law at Drexel University.  

Read the whole thing:  A Special Report On:  Human Rights

If you would like to learn more about how we can help you manage vendors more effectively, Contact us HERE.