Publish Date : 16-Jul-2014
An Opus Global firm and the major provider of third party management software, Hiperos, has announced that it has won a multi-year, seven-figure contract from one of the world's top-10 pharmaceutical firms.
The deal will allow the new client to use Hiperos 3PM™ to execute, manage, and enforce a global Anti-Bribery/Anti-Corruption (ABAC) compliance program across their thousands of third party relationships.
Any organization that operates internationally or involves offshore third parties, not only those that work in countries and industries viewed as 'high risk,' must see to it that it has adopted effective, consistent, and enforceable anti-bribery programs.
But, a significant number of companies are often unclear on their responsibilities under the Foreign Corrupt Practices Act (FCPA), and nearly 90% of organizations lack the technology to assess, monitor, manage, and report on FCPA risk.
Broaden that responsibility to incorporate the many global ABAC rules, and the lack of clarity grows.
The pharmaceutical industry, especically, is being intensely scrutinized for FCPA violations, and many have been the subject of probes by the U.S. Department of Justice and the Securities and Exchange Commission.
Hiperos 3PM™ enables organizations to effectively and efficiently identify and manage all third parties subject to the ABAC rules, and concentrate their resources on those third parties deemed to be of high risk today, and automatically monitor changes that could lead to a low risk 3rd party turning into high risk.
Hiperos 3PM™ has been bench-marked to evaluate and manage the initial and under way ABAC risk related to hundreds of thousands of third parties.
Hiperos CEO Greg Dickinson, stated : 'Hiperos' continued growth clearly reflects an increasing concern by companies competing in the global marketplace where the need for ABAC and FCPA compliance has never been more acute. As is the case with many of the companies with which we work, this new FCPA/ABAC engagement is merely this client’s first step in using Hiperos as their partner for developing a global platform for risk and compliance across their entire global organization.'
Doug Bergeron, founder of Opus Global and Chairman of Hiperos, stated : 'A big part of the reason Hiperos was attractive to Opus Global was its impressive client roster, including some of the largest companies in the world, and its stellar track record of customer growth, retention, and satisfaction. Today’s announcement once again proves that Hiperos’ value proposition deeply resonates with the world’s largest companies.'
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