Chicago, IL November 26, 2020 – ComplianceXL has been selected by a diversified global manufacturer of consumer, aerospace and industrial end market products to help them to manage the Conflict Mineral Compliance program with a combination of robust supplier engagement and a compliance management platform.
The client is a global manufacturer and provider of products for customers predominantly in the consumer products, aerospace and industrial end markets, with approximately 3,500 dedicated employees in 11 countries. Their packaging segment develops and manufactures a variety of packaging for a variety of products in the health, beauty, home care, pharmaceutical, nutraceutical, food, beverage, and industrial packaging markets. The Aerospace segment designs and manufactures products and precision machined components for commercial aircraft companies, distributors, suppliers and the military. The specialty products segment designs and manufactures a full range of engineered products used for the transportation, storage and dispensing of compressed gases.
The fully managed conflict minerals solution by ComplianceXL is a combination of compliance experts, dedicated supplier engagement specialists and a cloud-based technology platform. ComplianceXL will assign Compliance Analysts to execute the project utilizing the software platform, who will engage with suppliers/vendors across the globe to seek compliance Conflict Mineral reporting templates (CMRT V6.01).
The scope of the project includes:
- Implementation of a technology platform and integration with the client’s ERP system
- Supplier engagement to collect the CMRT
- Validate the CMRTs submitted by the suppliers
- Provide support and training on CMRT requirements to the suppliers
- Integrate offline compliance data into the technology platform
- Generate CMRT report specific to the client and help them in SEC filing
The major outcomes of this engagement are:
- Make sure all suppliers comply with applicable rules as per Conflict Minerals regulation
- Reduce internal compliance overheads for the client by setting up a dedicated team of compliance experts
- Improve supplier relationships, better co-ordination and maximum responses from suppliers across the globe
- Increase return on investment and minimize project execution time.
Commenting on the new win, CK Bharathan, Head of Compliance Solutions at ComplianceXL, says, “We are excited to be entrusted to manage a Conflict Mineral Program with thousands of suppliers worldwide. While we have been simplifying compliance for over 400 clients across the globe, this is another instance to demonstrate our experience and capabilities in providing fully managed compliance solutions across global regulations. We believe in co-creating space to practically solve compliance-related problems for manufacturers across various industries.”
About ComplianceXL:
ComplianceXL is the Compliance Solutions Division of Enventure, a leader in the compliance business since 2003. ComplianceXL is a one-stop solution for all supply chain compliance requirements, ranging from consulting and training to collecting compliance certifications and documentation from suppliers. By implementing a transparent and well-structured compliance program, ComplianceXL enables clients to follow an integrated process, to meet their compliance obligations. Beyond an initial implementation, ComplianceXL also provides ongoing support to maintain compliance to regulations such as RoHS, REACH, CA Prop65, Conflict Minerals, ELV, GHS/OSHA and several other global legislations.