Know Your Business Partner - Holistic Third Party Management Platform
Increasing complexity of business relationships
In our complex, globalized and digitized world, companies are forced to interact with an increasing number of business partners. At the same time, business relations are more intricate than ever due to increasing regulatory requirements. Furthermore, public pressure demanding transparency surges, putting companies in the position of having to carefully manage their business partners. In this environment, integrity matters! Overall, an insufficient business partner management results in an unnecessarily high business risk as well as immensely high administrative costs.
Manage relations with your external business partners
PwC’s Know Your Business Partner Platform (KYBP) is an automated software solution allowing clients to implement a process to ensure compliance and quality by simultaneously significantly decreasing the administrative effort. KYBP enables corporations of all sizes and industries to manage their business relationships effectively as well as risk-adequately and to ensure the integrity of all partners in a process-oriented manner. The business relationship tool guides you along the entire process from determination of requirements up to contract conclusion and internal documentation. The usage of the tool is intuitively usable and the content of the tool is tailored in form of selectable modules. In this way, the tool can be customized individually to your needs.
The benefits of KYBP
Manual effort and related costs can be reduced by more than 90%
Modular approach and risk area coverage are tailored to specific needs
Changing/ increasing regulations are covered on a global level
Can be fully integrated into existing IT landscape
Get to know the platform
Six steps to a transparent and compliant business partner management
- Business partner onboarding
- Mandatory sanctions and embargo list screenings
- Classification of relevant business partners
- Standardized logic to determine relevant risk areas
- Systematic and structured management plan
- Performance of due diligences
- Clear remediation measures to reduce relevant risk areas (e.g. Sanctions, Anti-Bribery & Anti-Corruption (ABAC), Cyber Security, Financial Stability, Product Compliance)
- Audit-proof documentation of all due diligences
- Consolidation and archiving of all risk assessments of every service provided by the business partner
- Transparent internal reporting
- Frequent tracking of results and periodic renewal of due diligences
The platform combines standardized and automated process steps with a high level of flexibility and adaptability. In this way, the solution can be tailored exactly to the specific needs of our clients.
Dr. Robert Paffen & Daniel Mielke, Risk Consulting, PwC Europe
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Pricing
The price below exludes project realization (implementation) costs.
- License model based on business requirements
- Depending on number of Business Partners
Know your business partner - made efficient
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