At ethiXbase we see corruption as a global threat. Established in 2011, our goal is to help create a business environment where companies are committed to conducting business with integrity and transparency while avoiding corruption of any form by complying with the anti-corruption laws of every country in which they operate.
ethiXbase is a value chain sustainability solutions company that provides robust technology and data analytics to help companies and third parties manage and sustain sustainable business practices. We’ve created the most intuitive, robust, and configurable platform to help companies worldwide improve their third-party supply chain in anti-corruption, human rights, environment, and labor.
We exist to support a business environment where organizations are committed to conducting business with integrity and transparency. Our technology platform enables organizations to digitize, automate, and simplify their third-party compliance lifecycle by pulling information from around the world to deliver intelligence instantly. The platform provides crucial information that enables companies to act with confidence while also acting quickly to seize opportunities in an ever-changing regulatory landscape.
What were the beginnings of the company?
Our research has shown that compliance ethics is not at the forefront of the corporate agenda that needs to change. We wanted to be a part of the company’s shift towards greater consideration of their ethics. We saw this gap in the business world and decided to fill it.
In line with the UN Global Compact, we help companies to monitor UN Global Compact values within their supply chain and advise on how to do so where this is found not to be the case.
Our solutions are designed to make it easier for companies to monitor the values of the Pact in their third-party networks, to educate their suppliers and partners about these principles and to encourage them to adopt the sustainability values. Our technology uses cutting-edge research and analysis to identify potential risks in multi-layered supply chains, providing organizations with a holistic view of potential third parties.
How has the company performed during the pandemic?
The pandemic has brought sustainability reporting more into the spotlight of the public, investors and stakeholders. A report by the Environmental Defense Fund found that 93% of consumers hold companies accountable for environmental impacts. Another report by PWC found that 48% of consumers want companies to show more progress on social issues and 54% on governance issues.
We believe that efficient sustainability risk management is an excellent area to bring in technology to do this job. Current reporting, information, benchmarking and auditing efforts often focus on public companies or large multinational corporations rather than their critical business partners.
These partner networks often pose a greater challenge when it comes to managing risks such as environmental issues, labor abuse, privacy concerns and corruption that can affect a company’s market value, financial performance, reputation, operations and risk profile.
In fact, it is estimated that 80% of global trade now runs through supply chains, and the problem is that these supply chains are often very complex, spanning multiple countries and levels of production, and as a result are often patchy, opaque and lack common governance norms.
We are strong advocates of using technology to predict and identify risks in an organization’s third-party network to mitigate potentially harmful threats to that organization and free up employees to perform cumbersome manual management tasks.
What can we expect from ethiXbase in the future?
ethiXbase will redouble its efforts to focus on the environmental area as this is the way forward and we want our own business ethics and the ethics of those we work with to be rooted in this area.
We want ethiXbase to be the first port of call for organizations that need to respond to environmental issues on their third-party networks – to provide expert knowledge of how an event happened and how it should be dealt with.
Ultimately, we want to be leaders in our mission to help organizations around the world adopt sustainable and socially responsible policies and report on their implementation.
https://techround.co.uk/interviews/leas-bachatene-ceo-ethixbase/?utm_source=rss&utm_medium=rss&utm_campaign=leas-bachatene-ceo-ethixbase Meet Leas Bachatene, CEO of Risk Management Tool: ethiXbase