Intertek Ranks Assent Compliance #1 Software

Intertek Ranks Assent Compliance #1 Software

3 Fact-Based Reasons Why Assent Is The Best Among Third-Party Compliance Vendors

A new report has been released placing Assent Compliance at the front of the pack ahead of other third-party compliance vendors.

Analysis of publicly available SEC data by Intertek [LON: ITRK] — a global leader in regulatory compliance consulting — identifies Assent Compliance as the top third-party compliance software provider in the marketplace.

Intertek’s analysts evaluated raw data from publicly available SEC submissions and interviews with vendors. In order to observe the impact of third-party compliance software providers on compliance scores, Intertek cross-referenced the data with Dr. Chris Bayer’s Conflict Mineral Benchmarking Study. They compiled their findings in a report titled Software Vendor Analysis Study. Below we have listed three key observations taken from the study.

 

1. Who you choose as your third-party vendor matters.

Looking at good practice indicators, Intertek’s analysts observed there is a definite correlation among those companies who used third-party solutions in 2014 between their selected vendor and final scores.

Of the three top companies — Assent Compliance, iPoint and Source Intelligence — Assent’s clients earned significantly higher best practice indicator scores than their peers by as much as six points on average.

 

2. There is a hierarchy among third-party compliance vendors.

The benchmarking study ranked companies on three scores: compliance, best practice indicators and blended (two previous scores combined).

Assent Compliance’s clients scored highest in all three categories, while iPoint and Source Intelligence alternate between second and third place. Assent’s ability to consistently outscore their competitors in all three categories indicates a superior and more comprehensive compliance platform solution.

 

3. Participation is important.

Engaging suppliers is a key part of any compliance program. Without proper engagement, and a system to facilitate and capture that engagement, supply chain data would be compromised.

Among the three top third-party providers, Assent Compliance once again outperformed their competition by a significant margin, with an engagement rating of 91 percent. In distant second and third, Source Intelligence and iPoint both had an engagement rating of only 70 percent. Assent automates the supplier engagement process and implements escalation procedures to solicit accurate and complete responses from their clients’ supply chains. This enhanced level of automation and data validation ensures a high rate of engagement along the supply chain.

Intertek is a global leading service provider for the safety and quality of their customers’ product, process and system. With over 30,000 employees in over 1,000 locations worldwide, their results are notable. Jonathan Hughes, Assent Compliance’s Director of Conflict Minerals Services, said Intertek’s report is indicative of Assent’s superior platform.

“We are very happy with these results which reinforce the market shift  we’ve seen to Assent Compliance over the last 18 months.” he said. “Time and again we hear from our clients how much they, and their suppliers, enjoy using our software compared to our competitors. Our platform solution allows our customers to gather a wide range of data from their supply chain more effectively. It’s comprehensive in its scope, and most importantly, it’s easy to use.”

“Being recognized by a global leader like Intertek further solidifies that Assent Compliance is the best choice for companies that want strong compliance programs.”

 

To view how the compliance vendors stacked up, Intertek’s report is available on their website, or you can download it directly here.

For more information on Assent Compliance’s platform solution, or how we can work with you to improve your compliance program, email one of our regulatory experts at info@assentcompliance.com.

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