Intelligent automation and business sustainability ratings combine to help clients drive better business, environmental, and social outcomes
Aravo, the leading provider of intelligent automation for third-party risk and performance management, and EcoVadis, the world’s most trusted provider of business sustainability ratings, announced an integration that allows clients to achieve more impactful responsible procurement and Environmental, Social and Corporate Governance (ESG) goals.
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The integration means that the objective measures of the quality of suppliers’ social responsibility programs from EcoVadis can feed into the assessment workflows and reporting in Aravo, and automatically trigger the appropriate management actions. It allows clients to assess the performance of suppliers across Environment, Ethics, Labor & Human Rights and Sustainable Procurement practices, throughout the lifecycle of the relationship – from onboarding, to establish whether to do business with a supplier, through to ongoing monitoring of supplier performance over time. A core benefit is the ability to use the ratings to guide third parties towards better sustainability practices, which in turn lifts the ethical posture of clients, and helps improve sustainability across an entire ecosystem.
Aravo Chief Customer Officer, David Rusher, said: “Driving sustainability and good business practices through the supply chain is vital to better business performance, but more broadly to society at large. This partnership unlocks a smarter approach to responsible sourcing, by bringing trusted sustainability ratings into the procurement, compliance and risk management workflows within Aravo, that are used to manage millions of suppliers across the globe. It means customers are positioned to be market leaders in their commitments to sustainable procurement, ESG, and responsible sourcing programs.”
“Through the Aravo integration, EcoVadis can now provide mutual customers a new level of visibility into supplier sustainability performance, such as environmental concerns, ethical business practices, human rights and more,” said Dave McClintock, marketing director at EcoVadis. “By incorporating the EcoVadis sustainability rating process into Aravo’s automated onboarding and due diligence workflows, procurement leaders are able to drive tangible impact, while significantly accelerating their sustainable procurement programs.”
A number of joint clients, including leading pharmaceutical and consumer packaged goods companies are already benefiting from the integration.
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