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Conflict of Interest Risk Assessment


PROACTIVELY DISCOVER SPEND AT RISK OF BEING AFFECTED BY CONFLICTS OF INTEREST IN YOUR SUPPLY CHAIN

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Conflict of Interest Risk Assessment


PROACTIVELY DISCOVER SPEND AT RISK OF BEING AFFECTED BY CONFLICTS OF INTEREST IN YOUR SUPPLY CHAIN

Key Fact

Internal and external actors are almost equally likely to perpetrate economic crimes …

 
 

… but the vast majority of supply chain crimes are committed by internal and external actors working together.


Benefits of our Conflict of Interest Assessment

  • Back up your Declarations of Interest process with hard facts and deter fraudsters
  • Reduce costs by identifying ghost vendors, favoritism, P2P fraud and collusion before spend occurs
  • Bring transparency to your supply chain and identify hidden dependencies in the face of harsher BBBEE/localization regulation
  • Prevent bribery and corruption, maintain effective governance and reinforce compliance with FCPA, UK Bribery Act and King 3

Features of the Inoxico Matrix

  • Shows associations based on directorships, family ties and shareholding up to the 3rd degree of separation
  • Software visualization with in-tool investigative tools
  • Data repository functionality
  • Monitoring and alert functionality
  • Analyst support available
Watch Inoxico Matrix Video Here

Our Brand Promise

We guarantee you that we will find more Spend at Risk than what you spend on the tool -
or you will get your money back.


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Case Study


 

Here is how we saved our client millions of Rands

 

Case Study


 

Here is how we saved our client millions of Rands

 

Problem

  • No systems in place to back up declarations of interest
  • No monitoring system in place
  • Vendor fraud incidents involving conflicts of interest identified through anecdotal evidence
  • Client concerned about need to spend up to 40% of budget on SME’s to maintain BBBEE rating

Action

  • Implemented Inoxico Matrix in the on-boarding process, as well as a monitoring tool
  • Tool was operated by procurement team and supply chain manager.
  • Once off assessment to clear all associations (over 7,000) using the analyst service of Inoxico
  • Check during on-boarding for undeclared associations
  • Monthly monitoring of changes via alerts 
  • Communicated implementation of the tool across the organization

Result

  • Identified many incidents of conflict of interest exploitation leading to reduced waste of several million rands per year
  • Identified several incidents of attempted breach of procedure during sign on process

What sOme of our Clients Say

Inoxico’s software has made our supply chain relationships incredibly transparent, which has put us in a unique position to manage risk that we previously had no insights into. This gives us the satisfaction that our supply chain is now better managed than ever, especially in preventing fraud and corruption. Ultimately, this level of governance is highly valued by our shareholders, as it allows us to reduce procurement spend and ensures the integrity of our supply chain.
— Deon Mocke, Chief Procurement Officer, AVI
The Inoxico Matrix ‘software as a service’ solution allows Metorex to proactively protect its supply chain against untoward activities, and identify the risk of supply chain interruptions caused by suppliers’ financial problems or non-compliance.
— Hendrik Landman, Supply Chain Unit Manager, Metorex
The insights gathered from the Inoxico product suite combined with their ability to identify and assist in managing previously unknown vendor risks have been of tremendous value to our business. We are now in a position to actually mitigate the risk of fraud, waste and disruptions to our supply chain in an extremely proactive manner. This ultimately allows us to save a significant amount of procurement spend but equally contributing to the company’s overall competitive positioning.
— Kervin Ali, CPO, PPC
Business partners can pose considerable financial and reputational risk to companies. This risk can be significantly reduced through the easily accessible intelligence that Inoxico Matrix delivers.
— Prof Deon Rossouw, CEO of EthicsSA