Acquisition forms one of the most complete, unique solutions on the market for third- party risk management and supply chain transparency.
LONDON, Oct. 18, 2022 /PRNewswire/ — Ethixbase, a leading provider of third-party risk management solutions, announced that it has completed its acquisition of Tcompliance, formally known as TRACE Inc., forming one of the world’s most complete approaches to third-party and supply chain risk management.
This acquisition highlights the important role of due diligence and transparency in third-party risk management amid the heightened complexity of today’s globally connected supply chains and the increasing pressure of ESG regulations. Ethixbase and Tcompliance’s benchmark methodology Explore, Enhance and Engage will enable companies to manage their supply chain based on risk exposure from low-touch automated screenings across the entire network to enhanced due diligence and hands-on engagement with high-risk suppliers and intermediaries.
Tcompliance is well-known for its Tcertification reports, which are widely considered the gold standard in anti-bribery due diligence. The company’s products complement Ethixbase’s comprehensive third-party risk management solutions that offer screening and assessment capabilities for anti-corruption/anti-bribery risks, human rights abuses, labor and environment.
Since its inception in 2011, Ethixbase’s mission has been to help companies bring transparency to 100% of their third-party network, as global supply chains are only as strong as a company’s weakest supplier.
Here is what customers can expect as Tcompliance integrates with the Ethixbase platform:
- An expanded suite of offerings, including the recently launched ESGmetrics solution.
- Enhanced third-party risk management technology that allows for benchmarking across ESG risk areas, continuous monitoring, resilience scoring, as well as e-learning and certification all on one platform.
- Extensive dashboard, reporting and analytics capabilities through configurable and automated workflows.
- The most comprehensive due diligence review on the market, with discreet and collaborative engagement to help companies rapidly onboard intermediaries at all stages of maturity.
“Tcompliance was born out of an industry governance body, and this collaboration means we will be able to continue that mission now serving more customers who are in need of our products. We have found a natural synergy with Ethixbase.”
Pia Vining, President of Americas and Global Research for Ethixbase
“This is a significant milestone for Ethixbase, and we’re delighted to formally welcome the Tcompliance team and continue our collaborative partnership under one roof.”
Leas Bachatene, Chief Executive Officer for Ethixbase
The transaction terms were not disclosed.
About Ethixbase
Ethixbase delivers market-leading technology to help companies identify, manage, and mitigate risks in their third-party network. Ethixbase’s solutions offer risk-based due diligence, end-to-end compliance management, ongoing monitoring, and compliance training. The company’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.ethixbase.com.
About Tcompliance
Originally founded in the U.S. in 2007, Tcompliance is recognized globally for its shared-cost due diligence approach which provides companies with the assurance that third parties have completed a detailed review based on globally accepted best practices while eliminating screening costs for customers. As a leading due diligence provider with anti-bribery expertise, Tcompliance has conducted over 600,000 reviews in every non-sanctioned country.
Media Contact:
Jacqueline Fleming
ModKaf for Ethixbase
[email protected]
(484) 234-2030
SOURCE Ethixbase
