Exiger Case Studies Automated Due Diligence for a Multinational Hospitality Group

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	Automated Due Diligence for a Multinational Hospitality Group Exiger

Automated Due Diligence for a Multinational Hospitality Group

Exiger

Technology Category	Platform as a Service (PaaS) - Application Development Platforms
Use Cases	Inventory Management
Challenge	A large multinational hospitality company was facing a significant challenge with their high-volume due diligence needs. The company was incurring high costs due to the volume of third parties they needed to review. The quality of the reports from their incumbent provider was also under scrutiny, adding to their concerns. The company was seeking a comprehensive review of their risk exposure across global vendors and suppliers. To address these issues, they decided to engage a new third-party management partner. Read More
About Customer	The customer is a large multinational hospitality company. They have a high volume of third parties that they need to review, which was causing significant costs and quality concerns with their incumbent provider. The company has a diverse range of suppliers and franchisees across the globe, including low-, medium-, and high-risk populations. They were seeking a comprehensive solution to manage their due diligence needs and reduce costs. Read More
Solution	The hospitality company chose to engage Exiger to address their due diligence needs. Initially, the company reallocated their low-risk population to Exiger, while maintaining their incumbent provider for the medium- and high-risk populations. Exiger's DDIQ was used to automate the due diligence on low-risk subjects and manage the cases through Exiger’s third-party management platform, Insight 3PM. After a year of successful operation, Exiger was asked to adopt the due diligence and on-going monitoring of the entire low-, medium-, and high-risk suppliers and franchisees globally, all managed through the Insight 3PM platform. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Application Development Platforms

Use Cases

Inventory Management

Challenge

A large multinational hospitality company was facing a significant challenge with their high-volume due diligence needs. The company was incurring high costs due to the volume of third parties they needed to review. The quality of the reports from their incumbent provider was also under scrutiny, adding to their concerns. The company was seeking a comprehensive review of their risk exposure across global vendors and suppliers. To address these issues, they decided to engage a new third-party management partner.

About Customer

The customer is a large multinational hospitality company. They have a high volume of third parties that they need to review, which was causing significant costs and quality concerns with their incumbent provider. The company has a diverse range of suppliers and franchisees across the globe, including low-, medium-, and high-risk populations. They were seeking a comprehensive solution to manage their due diligence needs and reduce costs.

Solution

The hospitality company chose to engage Exiger to address their due diligence needs. Initially, the company reallocated their low-risk population to Exiger, while maintaining their incumbent provider for the medium- and high-risk populations. Exiger's DDIQ was used to automate the due diligence on low-risk subjects and manage the cases through Exiger’s third-party management platform, Insight 3PM. After a year of successful operation, Exiger was asked to adopt the due diligence and on-going monitoring of the entire low-, medium-, and high-risk suppliers and franchisees globally, all managed through the Insight 3PM platform.

Impact #1	The implementation of Exiger’s DDIQ and Insight 3PM platform resulted in a globally consistent program for the hospitality company. They were able to manage their entire range of suppliers and franchisees, regardless of risk level, through one platform. This not only reduced costs but also improved the quality and consistency of their due diligence reports. The automation of low-risk subjects also freed up resources and time for the company to focus on their medium- and high-risk populations.

Impact #1

The implementation of Exiger’s DDIQ and Insight 3PM platform resulted in a globally consistent program for the hospitality company. They were able to manage their entire range of suppliers and franchisees, regardless of risk level, through one platform. This not only reduced costs but also improved the quality and consistency of their due diligence reports. The automation of low-risk subjects also freed up resources and time for the company to focus on their medium- and high-risk populations.

Benefit #1	The hospitality group saved 50% of their due diligence costs.
Benefit #2	The company was able to manage their entire low-, medium-, and high-risk suppliers and franchisees globally through one platform.
Benefit #3	The company was able to automate the due diligence on low-risk subjects.

Benefit #1

The hospitality group saved 50% of their due diligence costs.

Benefit #2

The company was able to manage their entire low-, medium-, and high-risk suppliers and franchisees globally through one platform.

Benefit #3

The company was able to automate the due diligence on low-risk subjects.

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Overview

Automated Due Diligence for a Multinational Hospitality Group

Operational Impact

Quantitative Benefit