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Third party intelligent diligence solutions

Third party intelligent diligence solutions

KPMG offers technology that help digitalize the supply chain.

KPMG offers technology that help digitalize the supply chain.

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Most businesses rely on vendors and subcontractors to achieve strategic goals and deliver products and services to their customers. Today's risk picture is composed of high expectations from customers, investors, owners and other stakeholders towards companies and their responsible conduct. Many companies have extensive and complex supply chains and face challenges when prioritizing corporate social responsibility, risk mapping and monitoring activities of high-risk suppliers.
Companies put a lot of effort into identifying and managing risks in the supply chain. In many cases, this work often involves manual processes with multiple parties involved, which can lead to inefficient, time-consuming and costly processes that result in varying quality and consistency.

Digitalization of the supply chain

KPMG is therefore launching a cutting-edge technology that allows the business to digitize work with the supply chain by deploying tools that streamline workflows, tailor risk models and transfer information retrieval to artificial intelligence that speaks over 60 languages and local dialects. The result is an efficient, transparent and user-friendly supplier management process tailored to your business needs and risk exposure.


Digital platforms support and simplify compliance work for the business

KPMG offers two different digital tools with functionality that support your company's compliance efforts. The digital platforms can be used individually or integrated for increased efficiency and functionality.

 

K-3PM 

KPMG Third Party Management (K-3PM)  is a robust and flexible supplier management platform that utilizes the most advanced and intuitive technology the market offers. K-3PM gives the business a complete and risk-assessed overview of the supply chain. By using risk models tailored to your business, one can easily classify all third parties and subsequent workflows. The tool allows for easy registration of the third parties as well as issuance and management of electronic questionnaires and associated documents. K-3PM is also a platform where you can gather all information and documentation about the company's third parties, including audit results and contracts.
The monitoring feature sends out automatic alerts to relevant users so that they are always informed of all changes and can take actions as needed. The results are presented in an interactive and user-friendly dashboard that can be adapted to different needs in different functions and business areas.

 

K-3PID

KPMG Third Party Intelligent Diligence (K-3PID) is an innovative and automated approach to integrity due diligence that uses artificial intelligence and machine learning to search and filter information from thousands of relevant sources.
K-3PID helps conducts integrity investigations in a more time and cost-effective way than other comparable solutions. You get access to an extensive source landscape, and the tool covers over 60 different languages. The solution increases the speed of the data collection process, reduces the number of false positives, sorts recurring news cases, identifies ultimate owners, corporate structures, PEPs, sanctions, adverse media, and ESG issues.
The results are categorized and presented in a user-friendly report in a way that significantly reduces the amount of manual screening work while providing an increased quality of the investigations. K-3PID works both as a stand-alone solution or can be easily integrated with the K-3PM tool.

KPMG by your side

KPMG offers a multidisciplinary team of experts with experience from both Norwegian and international companies. We believe in tailoring and adapting our digital tools to your business and risk profile, in order to achieve best possible results.

 

You are welcome to contact us for a no-obligation conversation. Together we will look at how KPMG can assist your business.

 

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