ST. PETERSBURG, FL--(Marketwired - Apr 7, 2014) - The Global Technology Distribution Council (GTDC) today announced that it has launched an anti-bribery and anti-corruption (ABAC) due diligence platform. The platform, developed in conjunction with Hiperos and Thomson Reuters, will be delivered as a managed network to both GTDC members and other non-member technology firms.
The GTDC Anti-Bribery/Anti-Corruption Platform combines processes and best practices developed by GTDC members with Hiperos' award-winning third-party management software as a service solution and Thomson Reuters highly regarded screening risk assessment and due diligence services.
The GTDC represents the world's leading technology distributors who collectively drive more than $130 billion in annual worldwide sales of products, services and solutions through dynamic business channels. The GTDC Anti-Bribery/Anti-Corruption Platform is designed to address the massive scale, as well as the current costs, complexity and redundancy of performing due diligence across tens of thousands of third parties. In addition to eliminating redundant processes and costs, participating companies expect to create a consistent, best-in-class solution that will become the standard for the technology industry. This is achieved by implementing consistent processes and by eliminating the need to vet and monitor the same third party multiple times, while securely sharing the results with each participating firm.
"The vast majority of ABAC investigations involve illegal payments made by third parties on behalf of an organization. This is particularly challenging for companies in the technology distribution industry whose business depends on third parties," said Tim Curran, CEO of the GTDC. "During our research process, it became clear that traditional approaches to third-party due diligence for ABAC were inadequate and unable to address our members' needs. We are pleased to have joined forces with Hiperos and Thomson Reuters to create an innovative approach to due diligence that addresses the requirements of the technology industry."
The GTDC Anti-Bribery/Anti-Corruption Platform has been developed with the knowledge that every company participating in the GTDC platform has unique business requirements, opportunities, challenges and objectives. As such, the platform allows each member to decide individually how they want to score risk and if and how they want to proceed with the third party while, at the same time, removing the burden of initial and ongoing due diligence and monitoring.
"Through the work we've done with some of the largest corporations in the world, Hiperos thoroughly understands and appreciates the intricacies of ABAC due diligence," said Greg Dickinson, CEO of Hiperos. "The GTDC has broken new ground with the adoption and implementation of a network solution to manage ABAC risk. Their unique approach to an issue that poses reputational and fiscal risk to the entire technology industry will provide substantial savings to participating companies."
Learn more online about the GTDC Anti-Bribery/Anti-Corruption Platform, or email the GTDC at info@gtdc.org.
About The Global Technology Distribution Council
The Global Technology Distribution Council (GTDC) is a worldwide industry association dedicated to defining and promoting the role of wholesale distribution in a successful and healthy information technology channel. The Council is comprised of the computer industry's top wholesale distributors dedicated to serving "the channel," a network of skilled value-added resellers and retail stores focused on providing hardware, software, and services to businesses and consumers around the globe. GTDC members include AB S.A (
Contact Information:
GTDC MEDIA CONTACT:
Chuck Miller
(727) 432-4097