Customers now receive direct, streamlined access to Kharon’s Forced Labor dataset on Sourcemap’s real-time, end-to-end supply chain due diligence platform
NEW YORK, Dec. 13, 2022 /PRNewswire/ — Sourcemap, a global provider of supply chain transparency and traceability software, today announced a partnership with risk intelligence company Kharon to boost business compliance in the face of emerging trade legislation across the U.S. and the E.U. Through the partnership, Sourcemap’s customers, which include global manufacturers and brands, will be able to automatically verify their real-time, end-to-end supply chain maps against Kharon’s industry leading Forced Labor dataset to ensure company compliance with existing – and emerging – import regulations.
In June 2022, the Uyghur Forced Labor Prevention Act (UFLPA) was enacted by the U.S. to prevent products that were made using forced labor, either wholly or in part, from entering the country. Ahead of the enforcement deadline, Sourcemap launched the Forced Labor Due Diligence Solution to help businesses prove the absence of forced labor within their imports and provide visibility into every tier of the supply chain, from raw materials to ownership structure to distribution and more.
As a result of the new integration with Kharon’s Forced Labor dataset, Sourcemap’s customers will have greater scope and depth of analysis, with access to thousands of high-risk entities and their subsidiaries, units, vendors, facilitators and affiliates, including those based in or operating near areas with ties to forced labor.
“Consumers, regulators and enforcement authorities are paying increasing attention to forced labor concerns. At the same time, companies are recognizing that forced labor and business risks have become intrinsically connected,” said Kit Conklin, Vice President of Global Client Engagement at Kharon. “Companies striving to address and eliminate forced labor exposure from their supply chains can be assured by the integration of Kharon’s data into Sourcemap’s Forced Labor Due Diligence Solution.”
With more than 500,000 business entities registered on Sourcemap’s platform across the apparel & textiles, home goods, food & agriculture, pharmaceutical, automotive and luxury goods sectors, Sourcemap customers discover more than 10,000 new suppliers within their supply chains on average. Through integration with Kharon’s Forced Labor dataset, Sourcemap’s customers will now benefit from deeper, actionable insights to eliminate forced labor and de-risk global supply chains.
“As more governments worldwide enact forced labor-related trade restrictions, it’s clear that every business entity has skin in the game to ensure that supply chains run as smoothly as possible,” said Leonardo Bonanni, CEO & founder of Sourcemap. “Our customers have global footprints and look to Sourcemap to lead the way on supply chain transparency and provide a solution to help navigate new standards for greater business and social impact.”
To dive further into how the UFLPA will impact global businesses, Sourcemap and Kharon will host a webinar with John Foote, a partner at Kelley Drye & Warren LLP, on January 12, 2022 at 9 am ET. Register here to join.
About Sourcemap
Sourcemap is the pioneer of supply chain transparency and traceability software, spun out of early MIT research in 2011. Since then, major traders, manufacturers and brands have adopted Sourcemap’s full-suite solution for assurance on the raw materials-to-finished goods supply chain, including ongoing monitoring for production, quality, sustainability and risks such as deforestation and forced labor. To learn more, visit http://www.sourcemap.com.
About Kharon
Kharon is a leading provider of risk management solutions driven by proprietary research and data analytics. Kharon rigorously investigates and curates complex data at the intersection of global security and commerce — powering financial crimes, sanctions, trade, and export control compliance; supply chain security; and business and reputational risk mitigation. Through our unique approach, Kharon’s multilingual subject matter experts and data scientists generate enriched data covering the commercial networks of restricted actors and their related parties. Kharon is founded and led by former senior officials of the U.S. Department of the Treasury and experienced software engineers.
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