GTDC Anti-Bribery and Anti-Corruption Platform Offers Compliance Support

ST. PETERSBURG, FL--(Marketwired - Dec 16, 2014) - The Global Technology Distribution Council (GTDC) anti-bribery and anti-corruption platform developed in agreement with Hiperos and Thomson Reuters is helping distributors and other technology companies lower the costs and risk associated with protecting themselves against bribery and corruption.

The GTDC Anti-Bribery/Anti-Corruption Platform combines business processes and best practices developed by GTDC members along with Hiperos' award-winning third-party management software as a service (SaaS) solution and Thomson Reuters' highly regarded screening, risk assessment and due diligence services.

"Technology companies need to protect themselves against liability from third-party relationships with organizations that don't adhere to bribery and corruption laws," said Tim Curran, CEO of the GTDC. "We are excited to bring this platform to the technology industry and help companies reduce the due-diligence costs associated with compliance, as well as lowering their possible risk and penalties due to violations."

In recent years, the U.S. Department of Justice and Securities and Exchange Commission have stepped up anti-bribery and anti-corruption (ABAC) enforcement, leading many businesses to reassess their own anti-corruption compliance efforts. Companies even can be punished for the acts of third parties, and it can be very costly to individually monitor compliance for all their business partners.

"Ensuring that you're performing the required diligence to know business partners under ABAC standards can be complex and expensive. A multi-party, centralized approach that lowers cost and minimizes the burden on your business partners, all while reducing compliance risk, is a welcome and innovative approach," said David Vetter, senior vice president, general counsel and secretary at Tech Data (NASDAQ: TECD).

The GTDC platform creates a secure network of technology companies and allows them to provide secure due-diligence information to Hiperos and Thomson Reuters. As additional members join the program, each company reduces redundant processes and costs by eliminating the need to vet and monitor the same third party multiple times.

"Bribery and corruption are very real in many parts of the world and any step taken to curb that activity is a positive one," said Bruno Grandguillotte, chief compliance officer at Ingram Micro (NYSE: IM). "We applaud the GTDC for being proactive in the creation of this program and their support to help companies lower the associated costs of vetting their business partners."