Denied Party Screening Software Lowers Compliance Risk of Integrating Acquisitions
Headquartered in Connecticut, Rogers Corporation is a global technology leader in engineered materials with manufacturing facilities in the United States, China, Germany, Belgium, Hungary and South Korea. Since 2010, as part of its corporate compliance practices, Rogers has used Descartes’ denied party screening system to help mitigate the risk of transacting with sanctioned or restricted parties by screening customer data. Since then, Rogers has expanded its use of the solution to help assess the compliance history of acquisitions. Once acquired companies are integrated into the broader organization, Rogers relies on the Descartes solution to dynamically and regularly screen all of the acquisition’s customer and vendor relationships.
Why Descartes for Denied Party Screening?
When acquiring or merging with a business, companies take on the added liability of the compliance history of the acquired entity. With Descartes’ industry-leading solutions, companies can automatically screen customer, vendor, supplier and employee data against a comprehensive database of restricted parties based on lists maintained by government agencies and international organizations. This helps manufacturers, distributors, retailers, logistics services providers, banks and technology companies of all sizes identify and avoid conducting business with sanctioned parties around the globe. Companies can tailor screening to fit unique risk parameters, flag potential issues for resolution, and integrate denied party screening with other enterprise systems for enhanced global trade compliance.
Denied Party Screening Software Enhances M&A Due Diligence and Lowers Risk
Governments and organizations regulating global trade maintain a variety of lists of people, organizations and countries with whom conducting business is restricted or prohibited. In addition to potential reputational damage, penalties for non-compliance can include fines, revocation of export privileges and criminal charges. As updates are made to denied parties lists—some of which change hourly—Descartes’ advanced sanctioned party list screening solutions provide companies with robust capabilities to automate screening—of their own master data, and that of acquired entities, which helps companies better mitigate risk by standardizing compliance practices across their operations.
To learn more about Rogers Corporation, visit www.rogerscorp.com.
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