From production to sales, the automotive industry involves a vast network of third parties - suppliers, dealers, distributors – each with compliance and regulatory requirements that need to be met for effective third-party risk management.
The automotive industry faces a complex supply chain and market. Sourcing from low-cost manufacturing destinations brings the challenges of poor visibility and the need to balance cost-competitiveness against required quality benchmarks while meeting environmental, social and governance standards.
Companies in the automotive industry face multiple risks in the supply chain and distribution network – from difficulty entering new markets due to a dependance on third parties, to dual use of some vehicles and expanded government regulations.
Third-party risk management solutions are essential to manage and mitigate integrity, ESG, operational and other risks that companies in the automotive industry may face.
What is due diligence for the automotive industry?
Volatile market demand, fierce competition, business models dispersed across multiple geographies, and customer demand for more features and better value, are a few of the challenges faced by the automotive industry. The industry is under pressure from global regulatory forces to ensure ethical and compliant business practices while solving these challenges.
To mitigate operational, ESG and integrity risks, companies in the automotive industry must be knowledgeable of their third parties and ensure they are compliant with current laws. Reliability and continuity of suppliers and distributors must be assessed, while ensuring there are no sanctions, bribery or corruption risks associated with them.
Our third-party risk management solutions help companies in the automotive industry aim for integrity, profitability, sustainable practices, and societal impact, all while meeting compliance and regulatory requirements.
Safeguard your business from operational, integrity and ESG risks
We help companies in the automotive industry manage the complexity of their operations associated with third parties, to safeguard their reputation, meet regulatory obligations and reduce costs.
Screen your third parties
Screen for high-risk individuals and entities in the global automotive supply chain and distribution network with LSEG World-Check database, which consists of millions of profiles that will help you uncover hidden risks in business relationships. You can identify sanctioned entities and individuals, and uncover risks indicating a supplier’s potential involvement in alleged criminal activity that could lead to financial, reputational or other types of risks.
Receive ratings, insights & analysis
Get detailed background checks and analysis on companies and individuals, based on your automotive company’s specific interests with LSEG Due Diligence Reports. Our reports deliver accurate risk ratings, so you can make informed decisions when engaging with third parties. We can provide ESG reports for companies in the automotive industry.
Access our technology platform
Centralise your third-party risk management processes using LSEG Due Diligence Centre. This technology platform will help your automotive company to guide stakeholders throughout the lifecycle of third-party relationships – including initial assessment, onboarding, ongoing monitoring, renewal or end of life. In the automotive industry, Due Diligence onboarding questionnaires are important to have complete information on the third parties and their operations.
Partner with us for support
Use our third-party onboarding programmes and managed screening services to improve efficiency in your automotive company. Our teams will manage your programme through our proprietary technology platform LSEG Due Diligence Centre, allowing you to spend more time on strategic tasks within your company.
Why we are trusted worldwide
Uncover background, reputation, ethics and political connections of your third parties to protect your automotive company’s reputation while avoiding fines and other risks.
Understand location-based risk when conducting business in unfamiliar jurisdictions and emerging markets, using our intelligence network, covering 217 countries combined with our extensive language capabilities to provide truly global coverage enriched with local knowledge.
Manage and mitigate your regulatory risk by leveraging our industry-trusted and reliable screening and due diligence insights from our team of research specialists, underpinned with industry leading World-Check data, accredited with ISAE 3000 certification.
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