Automate due diligence checks on suppliers and streamline policy management.
LkSG Compliance
Accelerate compliance with the German Supply Chain Due Diligence Act
Stay on top of your suppliers, empower stakeholders, and meet your due diligence obligations for LkSG compliance with our third-party risk management and reporting solutions.
Operationalize and automate LkSG requirements
Consolidate supplier inventory and easily identify, analyze, and mitigate risks throughout the supplier lifecycle to implement a risk management method compliant with LkSG.
Leverage our Dow Jones market-leading data integration to screen third parties for potential risks before engaging in business and monitor your third parties for any changes that may require remediation.
Create and publish your internal policy statement, distribute policies to internal and supplier stakeholders, and document stakeholder attestations to set expectations for human rights and environmental practices.
Create transparency by maintaining documentation of your supply chain due diligence and risk management activities. Easily generate and export audit-ready reporting with out-of-the-box templates.
FAQs
We address some of the basics below to help you along your LkSG compliance and trust transformation journey.
Applicable companies must perform regular risk assessments, establish preventative measures to mitigate potential risks, create complaint procedures, and take immediate remedial action if violations were found. They must appoint a risk management administrator and adopt a corporate human rights strategy. Companies must also document their progress and make annual reports to the Federal Office for Economic Affairs and Export Control (BAFA).
To learn more, read Germany Passes New Corporate Due Diligence Act.
We help streamline your risk management system by operationalizing the statutory requirements. You can centralize your vendor inventory, automate risk analyses and due diligence checks on your suppliers, and manage and publish policy statements. Automated recordkeeping documents each step of your compliance journey while our regulatory database keeps you updated with the law’s amendments and rule changes.