Supplier Risk Management: Onventis and IntegrityNext Navigate ESG-Goals in Procurement

Stuttgart, 1 August 2023 – Onventis, the European cloud provider for source-to-pay processes in purchasing, and IntegrityNext, one of the world's leading cloud solutions for supply chain sustainability management, become solution partners in supplier risk assessment. Effective immediately, Onventis will support supply chain monitoring by connecting its purchasing system directly to the IntegrityNext platform. Purchasing teams will gain access to ESG data from tier suppliers via the interface, perform sustainability analyses based on this data, and monitor their supply chain in real-time.

Geopolitical challenges, volatile markets, and a wide range of due diligence requirements make transparent cooperation with qualified and sustainable business partners within the supply chain indispensable.

Suppliers are thus assuming an increasingly important position within the companies’ value chain, and supplier management is thus becoming a decisive factor for operational resilience and economic success. Against this background, Onventis is expanding its product portfolio to include ESG risk information from IntegrityNext.

ESG Risks: Monitoring of procurement processes via API Connector

By connecting via the "IntegrityNext API Connector,” ESG risks along the supply chain are identified early and compliance with legal due diligence and sustainability requirements is ensured. Purchasing teams regularly conduct risk analyses based on automated supplier assessments and anchor preventive measures simultaneously. ESG risks are displayed in a dashboard as a report or assessment criterion (e.g., in supplier management). Potential suppliers can be quickly pre-qualified via configured, free assessments. Through the interface, immediate suppliers are continuously monitored based on sustainability profiles, enabling procurement teams to create supply chain-related CSR reports directly in Onventis with just one click.

Conformity with relevant sustainability and compliance standards

Purchasing digitalization forms the basis for resilient supply chains. Medium-sized companies that do not promptly implement digital systems and thus the basis for data-based risk management in their purchasing and finance areas are giving away critical competitive advantages. With the combined solutions of Onventis and IntegrityNext, purchasing and finance processes are holistically digitalized, and functionalities in supplier risk assessment are extended to include sustainability information. In addition to this connection, comprehensive supplier management solutions are available for continuously monitoring supply chain risks, such as individual supplier qualification and classification. Sustainable and compliant suppliers can be found in seconds via Onventis' open supplier network. Enhanced insights in dealing with regulations and specifications are achieved in IntegrityNext via supplier questionnaires. Central inquiries and master data transfers ensure reliable and responsible qualifications.

ISO standards and Code of Conducts can be screened with a single click, while environmental and social disclosures are included in approval processes from the outset. A central contract platform for managing contracts and targeted supplier qualification creates the basis for risk-reduced and crisis-proof supply networks.

Learn more about the IntegrityNext partnership as well as Onventis’ sustainability solutions here: onventis

Picture1: Katrin Ostheimer | Head of Partner Management | IntegrityNext

Caption: "The goal of the partnership, within the Onventis Source-to-Pay Suite, is to identify ESG risks along the supply chain at an early stage to ensure compliance with legal due diligence and sustainability requirements. Procurement teams conduct regular risk analyses based on automated supplier assessments and embed preventive measures." Download

Picture2: Dolf van den Boorn | Head of Product Management | Onventis

Caption: "Digital supplier management enables the sustainable design of procurement processes between companies and suppliers. As a source-to-pay provider, we promote responsible selection and cooperation with suppliers in purchasing and finance departments of medium-sized companies. The effective monitoring of suppliers represents an essential component of risk management. With the Onventis API Connector for IntegrityNext, we decisively expand our solutions in supplier risk assessment. ESG risk management becomes an integral part of purchasing workflows." Download

Picture3: Teaser PressRelease IntegrityNext Download

About IntegrityNext

The IntegrityNext platform enables companies to quickly and cost-effectively audit their supplier base against sustainability-related regulations (e.g., supply chain due diligence law), standards (e.g., international human and labor rights), and voluntary commitments (e.g., supply chain decarbonization/Net Zero). IntegrityNext helps its clients identify and manage ESG risks along the value chain, reducing reputational and financial risks and improving sustainability performance. integritynext

About Onventis

Onventis has been a cloud pioneer in the digital transformation of purchasing and finance processes since 2000. Onventis Buyer cloud software is an all-in-one procurement system that helps organizations across all procurement operations to achieve financial control, process efficiencies, and cost savings while complying with corporate policies and laws. Onventis Buyer streamlines and automates all processes from procurement source to payment, including collaboration with suppliers in the network. The Onventis network connects the business processes of buyers and suppliers - easily and securely. Worldwide, more than 1,000 companies with approximately 450,000 users in the Onventis network handle an annual procurement volume of more than 10 billion euros with more than 50,000 suppliers. onventis

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Phone +49 711 68 68 75-0

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www.onventis.de

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Phone +49 711 68 68 75-75

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