Ethixbase360, a global leader in third-party risk and compliance technology and services, announced today that it has significantly expanded its pre-vetted small and medium enterprise search capabilities – accelerating the pace of business and saving multinational corporations the time and expense of a lengthy review process.
The newly expanded search capabilities, available once logged into the Ethixbase360 Third Party Management System (TPMS), offer multinational companies unparalleled and immediate access to pre-vetted business partners across 36 industries and in more than 150 countries via Ethixbase360 innovative shared ownership and portable due diligence model.
In addition to previously available Entity Name and Tcertification ID search criteria, Ethixbase360 customers are now able to search pre-vetted small and medium enterprises via country of headquarters, country of operations, and industry. The newly expanded search capabilities also offer clients the ability to filter results by third-party type or whether the potential intermediary is a women-owned business. All businesses saved within the directory have active Tcertification™ credentials which are required to be renewed on an annual basis in addition to being regularly monitored for changes to their risk profile.
Ethixbase360 has worked with hundreds of multinational companies to establish widely accepted collaborative due diligence best practices. The result is Tcertification™ a heavily benchmarked and comprehensive due diligence review, analysis, and approval process establishing that an individual or organization has been thoroughly vetted, trained, and certified in alignment with international standards.
Tcertification™ represents a more sustainable and cost-effective due diligence model for both multinational companies and their third parties, eliminating duplicative processes and reducing screening costs. 46% of Ethixbase360 collaborative due diligence customers now require their third parties to pay for their own review and an increasing number of third party approach Ethixbase360 on their own initiative to complete Tcertification™ as a valuable differentiator for their business. Once completed, successful attainment of Tcertification™ allows third parties to own and share their independently produced due diligence reports to demonstrate their commitment to transparency.
Existing clients can login to the Ethixbase360 Third Party Management System (TPMS) to access the newly expanded search capabilities. Alternatively, contact us today to discuss free access to expanded search.
Ethixbase360 delivers market-leading technology to help companies identify, manage, and mitigate risks in their third-party network. The Ethixbase360 platform was designed to automate the identification of relevant risk indicators, provide insights from the data collected, and then create a positive impact for both its clients and their third parties with monitoring and training. Ethixbase360 acquired Tcompliance, formerly known as TRACE Inc., in 2022 expanding its suite of risk-based due diligence solutions to offer a unique collaborative approach that reduces screening costs for companies. Combined, the two companies have conducted over 600,000 due diligence reviews in every non-sanctioned country and monitor more than 2 million third parties daily. Ethixbase360’s solutions are aligned with the 10 principles of the United Nations Global Compact, the world’s leading corporate sustainability framework. Learn more at www.ethixbase360.com.