What is the Norwegian Transparency Act?
The Norwegian Transparency Act, effective since 2022, focuses on protecting human rights and ensuring decent working conditions throughout the supply chain. It mandates companies to conduct due diligence, identifying, preventing, and mitigating adverse impacts on human rights and working conditions.
Additionally, companies must publish annual reports detailing their due diligence efforts and risk mitigation measures. This Act promotes corporate accountability and encourages sustainable and ethical economic practices, ensuring businesses contribute positively to society.
Key Features of osapiens HUB for Due Diligence
Risk Analysis & Risk Management
Quickly assess supplier risks using AI-powered automation.
- Conduct initial and annual risk analyses based on country- and industry-specific data.
- Generate risk scores for suppliers and categorize them for targeted management.
Self-Assessment Forms
IT risk management: Implement robust processes to identify and mitigate IT-related risks.
Supply chain risk management: Assess and manage cybersecurity risks across all stakeholders, including suppliers and partners.
Incident response management: Establish comprehensive plans for incident response, business continuity, and disaster recovery.
Supplier Screening
Unlock a 360° view of your supplier information.
- Access integrated data from external sources for sanctions checks.
- Use AI to monitor news and identify risks in real time.
Whistleblower Management
Ensure compliance with the Norwegian Transparency Act and the EU Whistleblower Directive.
- Enable anonymous or pseudonymized reporting of human rights violations.
- Track cases and ensure transparency in resolution processes.
Preventive & Corrective Actions
Automate workflows to enhance productivity.
- Create triggers and workflows to streamline repetitive tasks.
- Use pre-designed templates or customize them for your organization.
Technical Integration
Seamlessly connect your systems.
- Integrate supplier data using a REST API, SAP, Coupa, and Ivalua Connectors, or Excel uploads
Reporting, KPIs & Dashboards
Gain insights and demonstrate compliance.
- Use dashboards and KPIs to analyze trends and vulnerabilities.
- Generate automated, compliant reports for stakeholders and regulatory authorities.
Benefits of our Solution
End-to-End compliance
Developed with legal experts, ensuring the highest compliance standards.
Automated Workflows
Simplify complex processes with automation to save time and resources.
Structured Processes
Step-by-step guidance ensures compliance with all due diligence obligations.
Quick Start
Easily connect supplier data and use pre-configured templates to get started immediately.
Scalable for All Companies
Designed to adapt to businesses of all sizes, whether you manage 10 or 10,000 suppliers.
Holistic ESG Approach
Integrate seamlessly with other osapiens HUB solutions for broader ESG compliance.
Complying with osapiens HUB for Due Diligence
Leverage a comprehensive, automated solution to meet all due diligence obligations, from risk assessments to transparent reporting. Trusted by organizations across industries, osapiens HUB empowers your business to operate responsibly and sustainably.
Trusted by hundreds of companies from all industries
Partner with osapiens
Collaborate with osapiens to leverage customized ESG software solutions and achieve significant advancements together.
