Fighting Against Forced Labour and Child Labour in Supply Chains Act (S-211)

With Prevalent, you can evaluate new suppliers on their environmental, social and governance (ESG) positions – including labour practices – by reviewing recent business and reputational insights, legal filings, ESG scores and sanctions. Prevalent consolidates these insights into a single supplier profile that can be accessed by all teams in the organization, and aligns it with broader RFx management processes for holistic supplier reviews.

Prevalent enables you to ensure enforcement of forced labour and child labour restrictions by building those provisions into supplier contracts and tracking the supplier’s reporting progress over time. Prevalent integrates contract lifecycle management with the supplier risk assessment process by centralizing the distribution, discussion, retention and review of vendor contracts, and leveraging workflow to automate the contract lifecycle right into the due diligence phase.

Assess suppliers on the extent of threats to your organization by capturing, tracking and quantifying inherent risks. As it relates to forced labour exposure, criteria used to calculate inherent risk can include:

• Criticality to business performance and operations
• Location(s) and related legal or regulatory considerations
• Level of reliance on fourth parties
• Exposure to operational or client-facing processes
• Reputation

From this inherent risk assessment, your team can automatically tier and profile suppliers; set appropriate levels of further diligence; and determine the scope of ongoing assessments.

Prevalent automates assessment processes, providing you the ability to centrally review and approve assessment responses, and to automatically register risks or reject responses and request additional input or evidence uploads for attestation. The solution is backed by workflow, tasks and built-in remediation recommendations and reporting to ensure your organization meets its reporting deadlines.

With Prevalent, you can validate annual due diligence assessment results with continuous insights into reputational information, adverse media and negative news, regulatory and legal actions, sanctions and more. You can then normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified risk reporting and any further required remediations.

Prevalent enables you to ensure enforcement of forced labour and child labour restrictions by building those provisions into supplier contracts and tracking the supplier’s reporting progress over time. Prevalent integrates contract lifecycle management with the supplier risk assessment process by centralizing the distribution, discussion, retention and review of vendor contracts, and leveraging workflow to automate the contract lifecycle right into the due diligence phase.

Build and maintain a centralized supplier database with Prevalent. The database includes comprehensive supplier profiles and provides role-based access to company contacts, demographics, 4th-party and Nth-party connections, and risk intelligence – starting with any profiled risk data and external risk information captured during the RFx stage. Prevalent enables your team to identify relationships between your organization and third, fourth and Nth parties to discover dependencies and asses your exposure.

Prevalent includes built-in remediation suggestions to recommend to suppliers to ensure that risks are addressed prior to audit findings.