German Supply Chain Law (‘Lieferkettengesetz’): Verification of ESG criteria will require automated processes In the near future, companies will have to check their suppliers for compliance with social standards as well as sustainability criteria (ESG criteria)

Munich, 06. July 2021 – SHS Viveon AG (m:access ISIN DE000A0XFWK2 / WKN A0XFWK), the modular platform for the automation of risk, credit and compliance processes, sees companies facing extensive compliance obligations as a result of the recently passed Supply Chain Act in Germany.

“Sustainability is the new credit rating for us: From 2023, all larger companies will be obliged to check non-financial information from their suppliers,” says SHS Viveon CEO Ralph Schuler. The compliance departments of companies will then be faced with significantly higher requirements. As part of a “know-your-customer” process, not only financial but also social standards and environmental aspects, based on human rights and the so-called ESG criteria, will have to be queried and checked by the companies.

With the software platform from SHS Viveon, these verification processes can be fully digitalized and automated: “We are adapting our products to the changing global economic conditions. With the Supply Chain Act in Germany, social standards as well as climate and environmental protection are moving into the focus of companies. However, large companies often find it difficult to take a close look at their large number of suppliers and business partners,” Schuler comments. And since future regulatory requirements can only be predicted to a limited extent, the number one priority for companies is, that they themselves are able to adapt processes and systems at any time without additional effort.

With its two modules Connect and Compliance, the SHS Viveon platform offers companies exactly that: customers can integrate the data they need from a data universe of over 80 providers into systems they already use at any time or manage the verification process entirely in the SHS Viveon platform. The onboarding of new suppliers, partners and customers becomes simple and completely digital. This drastically reduces the operational costs per case and ensures traceabilityand auditability.

Even traditional credit checks and the exclusion of payment risks take up a lot of time for companies. “In the current crisis, companies need a particularly precise overview of the creditworthiness and payment behaviour of their customers and suppliers around the world. In the next few years, these compliance obligations will be joined by the need to adhere to the Supply Chain Act,” Schuler explains. “Without the right software-based solutions, many companies will struggle, as the manual effort of collecting and analysing data becomes immensely.” A quick and easy overview of all a supplier’s data therefore becomes central. “Our high-quality data and analysis tools enable our customers to bring data together and perform a very reliable risk assessment on a regular and automated basis. We can also map and optimize more complex processes in compliance management digitally from end to end,” says Schuler.

About SHS Viveon

SHS Viveon’s mission is to significantly simplify the management of corporate financial and regulatory risks. The SHS Viveon platform enables risk, credit and compliance management teams to automatically identify, assess and mitigate risks in a flexible, digital process. It simplifies access to all relevant data from any system, automates processes, and improves analysis and simulation, enabling better business decisions. SHS Viveon was founded in 1991 and has been listed in the m:access segment of the Munich Stock Exchange since 1999.

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