Restricted Party Screening | QAD Precision
RESTRICTED PARTY SCREENING
Reduce regulatory exposure and mitigate the risk of trading with entities on denied party lists with QAD Precision’s automated Restricted Party Screening software.
Restricted Party Screening, Made Easy
STREAMLINE DENIED PARTY LIST SCREENING
Government bodies and international organizations issue lists of individuals, groups and entities with whom it is illegal to do business. These restricted or denied party lists (DPLs) aim to prevent companies from trading with those profiteering from organized crime, the proliferation of nuclear weapons, or terrorism.
In order to comply with global trade regulations, companies must perform third party screening to ensure that their trading partners do not appear on any denied party lists. Enterprises that do not adequately screen their trading partners can face severe penalties. However, these denied party lists are subject to frequent changes — sometimes thousands a year. This makes manually updating and checking against current information an almost impossible task. As a result, more and more companies are turning to automated denied party screening software.
With QAD Precision’s automated Restricted Party Screening software, companies can automate compliance screening to perform due diligence, stay up-to-date with denied parties lists and create audit-ready electronic reports.
KEY FEATURES OF QAD PRECISION RESTRICTED PARTY SCREENING
Screen & Verify
VALIDATE TRADING PARTNERS AUTOMATICALLY
With QAD Precision Restricted Party Screening, enterprises can automatically validate that they are not trading with sanctioned groups, individuals or entities that appear on the official denied parties lists published by government bodies and agencies around the world. As well as denied and sanctioned party screening, QAD Precision also screens against ‘Watch Lists’ for groups and individuals with known financial, criminal, or ethics violations.
Add Screening to Workflow
SCREEN WHEN YOU NEED, AS OFTEN AS YOU NEED
Putting automated denied party screening in-line with business workflows becomes a far easier task when you have the right technology in place. With QAD Precision Restricted Party Screening, companies can perform third party screening background check on trading partners at any stage of the transaction and screen on an ad-hoc, batch or transaction basis as required.
Keep Up To Date with Restricted Party Lists
ALWAYS SCREEN AGAINST CURRENT DENIED PARTY LISTS
QAD Precision’s team of dedicated content professionals monitor changes to published restricted party lists. Content changes are issued daily to ensure our customers are constantly kept up to date with the latest content data from ever-changing government DPLs.
Why QAD Precision?
BEST-IN-CLASS AUTOMATED RESTRICTED PARTY SCREENING
QAD Precision automated Restricted Party Screening software is used by high volume, high value and time-sensitive global enterprises. QAD Precision’s customers span multiple industries including banking and finance, life sciences, high technology, retail, industrial, automotive, higher education and public sector as well as logistics providers. To find out how QAD Precision can streamline denied party screening across your organization, schedule a consultation today.
In-depth information and analysis
TRADE COMPLIANCE IN A BRAVE NEW WORLD
Any company that trades globally knows the importance of compliance. However not all companies are equal when it comes to mitigating risks. In this white paper, we discuss the importance of due diligence and how to avoid compliance pitfalls in a world of increasingly complex trade regulations.