NTT DATA implemented 3rdRisk to comply with the German Supply Chain Act in 5 weeks

THE CHALLENGE:
Facing the need to comply with the German Supply Chain Act (LkSG) - mandating extensive supplier due diligence on environmental and human rights risks - NTT DATA DACH had a tight deadline of just 5 weeks to implement a working solution. To tackle this, Central Procurement sought a tool to evaluate and monitor over 1,750 suppliers, aiming for minimal manual input and maximum automation. A critical factor was the need for seamless integration with SAP S4/HANA and the ability to produce customised reports for the Federal Office for Economic Affairs and Export Control (BAFA) to streamline internal processes and ensure compliance.
OUR SOLUTION:
NTT DATA and 3rdRisk joined forces to rapidly implement and onboard 3rdRisk’s third-party risk management platform. NTT DATA DACH leveraged 3rdRisk best practice workflows to tailor and automate their internal supplier due diligence process. 3rdRisk’s multidisciplinary platform supported collaboration of multiple teams (procurement, sustainability and security) within the same environment. The adverse news monitoring capability ensures that sustainability team is instantly alarmed about human rights violations and environmental issues, while the security team is informed in real-time about data breaches and security concerns. The S4/HANA integration allows Central Procurement to block supplier relationships based on the outcome of an assessment or monitoring alerts. Reporting to BAFA is automated and can be generated with one click.
THE OUTCOME:
-Third-party risk platform implemented within 5 weeks
-Timely compliance adherence to German Supply Chain Act
-One environment for procurement, security and sustainability
-Real-time adverse news monitoring of suppliers
-Seamless integration with S4/HANA
-Supplier portal available in multiple languages
-No budget overrun and high stakeholder satisfaction
-High value for money
Visit for more information: www.3rdrisk.co...