What is Aravo?
Industry Specialties: Serves Financial Services, Insurance, Pharmaceuticals, Life Sciences, High-Tech
Aravo offers cloud-based third-party solutions to companies for risk management and compliance regulation. Its SaaS strategies can help companies develop consumer trust, improve business performance and protect brand value. It does so by helping its users protect and manage their business reputation through improved and optimized third-party relations.
It is configurable, accessible, scalable, agile and focuses on performance enhancement. Users can leverage it to monitor, assess and mitigate risks that can negatively impact the relationship with customers and suppliers.
Product Screenshots and Videos
Benefits and Insights
Why use Aravo?
Key differentiators & advantages of Aravo
- Risk Management Lifecycle: Aravo helps users manage risk related to third-party clients and partners. It can handle all stages of risk management, including planning, due diligence, negotiations and contracting, ongoing monitoring, risk and issue management and termination or renewal. Aravo provides support for these risk management lifecycle stages, which helps manage a holistic third-party ecosystem.
- Eliminate Duplicates: Using this software, users can develop organized inventory and engagements for all third party clients and vendors. Having single input inventory management helps deal with duplication and cuts down on manual entry.
- Decrease Operational Burdens: Aravo brings process automation to numerous processes, which helps decrease operational burdens, save time and improves resource utilization efficiency.
- Improve Transparency: Users have access to data insights on the audit trail, which are updated at each process step. Access to audit trails helps the user identify issues quickly and resolve them on the spot.
- Drive Operational Efficiency: Automations help replace operational burdens on human resources, saving time and effort while improving operational efficiency within the organization.
- Enhance Customer Confidence: Companies can instill trust and build confidence with clients through features like a role-based view of dashboards, real-time reporting, compliance management, policy adherence and more.
- Ensure ABAC Policy Compliance: Aravo helps protect a firm’s overall brand image by ensuring that all ABAC policies are met. This compliance saves companies from third-party corruption.
Aravo supports 136,000 corporate users, helping manage more than 4.5 million third-party users across 154 countries in 36 languages. It has worked with a varied range of industries, including financial services, insurance, pharmaceuticals and life sciences, high tech, consumer goods, manufacturing, automotive, oil and gas, gaming, aerospace and defense, business services and mining.
- Third-Party Management: Aravo’s software suite comes with third-party management capabilities that can help users manage their third-party ecosystem risks. It helps automate processes that may otherwise involve manual email, spreadsheet and report management.
- ABAC Policies: The solution ensures that users can rely on their third-party partners complying with standard anti-bribery and anti-corruption policies.
- Performance Management: Users can visualize, monitor, manage and eventually take necessary steps for third-party supplier performance management. Users can measure performance by taking the supplier’s qualitative and quantitative performance metrics into account and evaluating them on benefits like cost-saving, efficiency, innovation and quality enrichment that they’re expected to bring to the table.
- GDPR Compliance: This feature allows users to check whether third-party organizational data processors comply with the GDPR (General Data Protection Regulation).
- Information Security: It lets B2B organizations understand, manage and reduce the risks associated with vendors and third-parties to the organization.
- Financial Services: This cloud-based app is specifically mapped to help clients such as banks and financial service providers regulate policies and practices governing third-party risk management frameworks.
- Responsible Sourcing: This feature offers improved understanding, management and mitigation of sustainable and reputational risks that third parties present.
- User-Defined Assessments: Using this agile platform, users can integrate personal proprietary assessments that best align with their business’s unique requirements. These assessments are made in consideration and compliance with senior management.
- Supply Chain Resilience: The system enables clients to act, assess and take necessary remedial steps every time there’s a disruption in supply chain management. It also shares automated alerts to business suppliers so that supply chain disruptions don’t impact operations.
- Issue Management: Leveraging dynamic reporting and dashboards, users can handle issue management processes with improved visibility across workflows.
Aravo Suite Support
mail_outlineEmail: Aravo support can be reached out by filling out a contact form on the website’s contact page and selecting “Technical Support” as the type of query.
phonePhone: Users can call +1.415.835.7600 or fax +1.415.835.7610 to get in touch, though whether this includes technical assistance isn’t mentioned.
schoolTraining: Their website has several types of resources like webinars, white papers, analyst reports, datasheets, case studies, infographics, playbooks and videos.
local_offerTickets: Users can access the customer care portal login by visiting the contact page on the company website.