Aravo

Aravo is a cloud-based software platform used by large organizations to streamline and automate their third-party vendor risk management processes. It helps companies track initial onboarding, perform due diligence assessments, and monitor ongoing supplier compliance. This centralizes data to prevent working with high-risk vendors.

Aravo integrates with external data providers to continuously screen vendors for red flags like financial instability, legal sanctions, or data breaches. If a vendor's risk profile changes, the platform automatically alerts the appropriate internal stakeholders. This eliminates the need for manual, annual spreadsheet audits.

Yes, Aravo is designed with robust APIs that allow it to integrate seamlessly into existing ERP systems and procurement platforms like SAP or Oracle. This ensures that risk assessments are triggered automatically when a new supplier is added. It prevents compliance teams from having to enter vendor data into multiple disconnected systems.

Generally, Aravo is built for enterprise-level organizations that manage thousands of global suppliers and complex regulatory requirements. Its extensive feature set and automation capabilities are typically overkill for small businesses with only a handful of vendors. Smaller companies usually opt for simpler, spreadsheet-based risk assessments.