Prepare for the unpredictable. That may seem like an oxymoron to most, but for Procurement leaders at banks, insurance carriers and other financial institutions – mitigating the unpredictable is part of life. Regulations have stiffened significantly over the past five years, leaving businesses across the financial ecosystem responsible not only for their own behavior, but for the actions and performance of their vendors. Given the typical global bank can easily work with 30,000 – 50,000 suppliers, the complexity (and risk) is significant. Financial institutions have prioritized core third-party risks – such as financial viability and information security – for years. But what about how a vendor operates and runs its business or the relationships the vendor enacts on your behalf?
Over a dozen banking and finance leaders rely on EcoVadis Ratings including Axa, ING Bank, SEB, Société Générale, Worldpay, HSBC France, Lloyds Banking Group Plc and more.
The EcoVadis scorecards help companies monitor suppliers’ CSR practices across 190 purchasing categories and 150 countries. The assessment framework is customized for each company according to their activities, size, and geographic location for operations.
Access dashboards to monitor performance of your portfolio by buyer, category, or custom filters. Request assessments, create reports, export data, and engage your team in your risk and performance goals and initiatives.
Benchmark supplier performance per theme by purchasing category or country.
Access action plans to start a dialogue between buyers and suppliers on actions taken by the supplier to improve their CSR performance.