Over 20 years of experience in Supply Chain Due Diligence
New and expected laws in Europe will cause the upgrade of supply chain due diligence programmes to be far more robust and valuable to truly identify ESG risks in the supply chain. No longer will a simple screening of a database suffice as due diligence.
These new laws will directly or indirectly affect any company or a supplier to any company operating in Europe.
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Speeki has the answer to supply chain compliance and due diligence, globally.
For over 20 years, our experts at Speeki have been delivering solutions to conduct reviews, supply chain due diligence, audits and investigations on suppliers as they relate to ESG issues. We have the depth of experience and knowledge to add value to this process with a range of end-to-end solutions to meet the requirements of the regulations and add value to the business.
Supplier due diligence programme analysis, building and monitoring.
For most companies, their due diligence on suppliers is lacking. We can build an entire system to cover all key risks that impact your supply chain across the ESG spectrum, including human rights and environmental issues.
Software for questionnaires, surveys and data gathering
The Speeki Platform can be used to engage with suppliers with questionnaires and disclosures. Use the platform to collect data, push out training, request disclosures, and receive incidents and feedback.
Supplier training and awareness and eLearning solutions
Part of the solution is engaging better with your suppliers. Taking them along the road to uplevel their own compliance and approach to ESG due diligence. We have ready-made eLearning that can be launched to help educate the supply chain.
Risk Assessments, DD analysis and ESG audits of suppliers
There will be a need for a very detailed supply chain risk assessment across your supply chain. Not every supplier should receive the same level of focus or due diligence. We can help risk-rate, sort and identify key areas to focus.
'Due Diligence' means a lot of things. Based on risk, different solutions might be needed.
At the end of the day, your role is to remove the risk of suppliers engaging in certain unethical activity (e.g., corruption, human rights abuses, environmental damage, etc.). In selecting a supplier, you need the data on which to make an informed decision about whether the supplier is engaged in such activity, or could be. How much data you need and how comfortable you are largely depends on understanding and appreciating ESG risk. Having a workable and effective supplier due diligence and selection programme is essential.
Lighter options.
Supply chain due diligence might simply be a questionnaire or signed disclosures from the supplier, or some special contractual language. It may extend to screening them against certain databases, media reports, or reviewing some of their policies and procedures to manage their own risks.
Heavier options.
You may need to go further in your fact gathering to conduct a background check, interviews, site visits, deep dives into their procedures, an audit, training, or require them to obtain certain certifications or ratings.
Due diligence insights
Explore our expert articles on due diligence
You need to work out which ESG areas are a risk in each supplier and how that risk could impact you.
While human rights, corruption, and environmental issues are the subject of most regulations, you also need to know if your supplier is going to breach confidentiality, steal your IP, misuse your private information, be vulnerable to hacking or data loss, run an unsafe workplace, lack governance, or engage in modern-day slavery or illegal pay practices.
We follow a framework to build a programme for you to solve this problem
You will need a programme to manage this huge challenge. We have a system called Engage to build your programme. We will help you implement it to meet both legal and business requirements. Have the programme embedded in your supply chain management function to assess ESG risks in your supply chain.
We have technology solutions ready to deploy to help in key aspects of the programme
Every programme needs some technology. That could be as simple as risk spreadsheets, pivot tables, visualisation software like PowerBI, a survey & disclosure tool, or a learning management system. Some of that technology Speeki can provide, and some we can recommend from our partners.
Content and guidance on risk
Risk in the supply chain is often hard to predict and identify. It may take deeper analysis through interviews, meetings, location tours, research, inspections, or even a full audit. It may be simple desk-based research or reliance on self-disclosure from the supplier. Either way, your risk identification skills, risk management, and ESG risk knowledge will need to be enhanced.
Andrew Henderson
Andrew has been a leader in the third party due diligence area for over a decade. He understands the needs of companies to conduct due diligence in a way that is effective and timely. He has designed, implemented and reviewed programmes across a range of risk areas including anti-corruption, human rights, environmental and money laundering/financial fraud.
Some of the ways that Speeki can help you are listed below.
Speeki knows ESG. We know risk and how to identify, manage, and leverage it. We are experts at building solutions to meet supply chain due diligence requirements and supplier selection. Our experts have been doing this for over 20 years. Some of the key areas where we can help are shown here, but our expertise is broad, and solutions are best identified after an initial needs analysis workshop of your current and future plans for supplier management.
There is a lot of work involved in building a comprehensive programme around supplier due diligence and onboarding. Speeki will follow a framework we created called 'Engage' – a step-by-step approach to building a programme that is valuable to the business and meets regulatory needs.
A key element of supplier risk management is understanding risk. Many supply chain professionals have not considered ESG risks beyond sanctions and corruption controls. Our services include detailed risk assessments in supplier categories and classifying risk around ESG areas.
Many companies already have some form of supplier risk model and due diligence process, even if it's a simple questionnaire or web form collecting information. Speeki can review your existing processes, provide a gap analysis, and highlight areas for improvement to meet new rules and best practices.
Your suppliers may also need guidance on ESG risks. While they are responsible for their own training, it is advisable to make training available to your suppliers on relevant topics as they relate to their provision of products or services to you. Speeki offers ready-made training on key issues and can develop custom courses.
For higher-risk suppliers, it is likely that deeper audits on key ESG areas will be required. Speeki conducts audits on suppliers in areas such as governance, ethics, compliance, anti-corruption, sanctions, human rights, modern-day slavery, and more, in partnership with other content providers as needed.
Much of the current legislation requires an incident reporting system to allow anyone to report issues about suppliers (or your company). A separate incident management system can simplify this process. Speeki offers a comprehensive app-driven reporting system for suppliers to report issues on any ESG topic with a simple click of a button.
Speeki is the solution for due diligence.
