The arrangement involves the integration of HICX’s Supplier Information Management (SIM) software with Aveiroe’s Audit Services Framework. The SIM program corrects and optimizes processes to prevent future losses. Funds generated through the audit process can be used to invest in SIM program activities, creating a self-funding program. Both work streams draw on supplier master data. According to the partners, the service combines the benefits of integrated supplier management technology and a peer-to-peer health-check service that delivers supplier contractual compliance, process optimization, increased control over costs and self-funding business process audits.
