Helping Bekaert develop a robust, risk based third-party risk management program

KPMG in Belgium worked with Bekaert, a market and technology leader in steel wire transformation and coating technologies, to develop an enterprise wide compliance model based on three pillars: educate, examine and enforce. The resulting third-party risk management program allowed Bekaert to monitor their relationships with third (and fourth parties) with a view to prevent, detect and respond to potential incidents.

An organization’s trust of its stakeholders and reputation are arguably its most unique competitive advantage. In an ever shifting business and regulatory landscape, businesses are relying more and more on third parties to deliver goods and services. This puts businesses at risk, as companies such as Bekaert strive to uphold the highest ethical and compliance standards for both their internal and external stakeholders.

Companies that put in place a third-party risk management program will gain increased control over their business relationships, create value across the value chain and enhance stakeholder trust.

Find out more here: home.kpmg/be/trusted