International law firm DAC Beachcroft has today launched DACB Nexus, an automated supplier risk management platform to provide organisations with lifecycle contract management and visibility across the supply chain.
DACB Nexus, which is powered by Albany Group’s advanced regulatory platform, ConectTM, and combined with DACB's expert legal services, provides a single location to monitor, mitigate and manage counter-party risk. By swiftly assessing and alerting risk, exposure in the supply chain is automatically detected, saving time and money while enhancing compliance.
The tool can be applied to any relationship, asset or issue including, for example, ESG performance or complaints. It can also be used to demonstrate regulatory compliance and linked to clients' existing financial systems to track spend against wider performance metrics in one place via bespoke deshboards.
Kate Archer, partner at DAC Beachcroft, comments, "Managing third parties across the globe can be complex, time-consuming and resource-intensive. Far too often, organisations rely on out-of-date and cumbersome processes, which can lead to poor performance, compliance issues and costly delays."
DAC Beachcroft partner, Alex Paterson, adds, "Through DACB Nexus, supply chain management is innovatively transformed by quickly bringing complete control, insight and simplicity that will protect businesses and deliver fast results."
Further information on DACB Nexus can be found here.
