Hiperos Publishes Blueprint for Third-Party Training

Designed to help businesses eliminate challenge of an effective compliance program

Somerville, N.J.—May 9, 2013—Hiperos, a provider of high-performance Software as a Service (SaaS) solutions for 3rd party management (3PM), has published “Blueprint for 3rd Party Training.” Developed in conjunction with corporate counsel, anti-corruption executives and other subject matter experts at some of the largest corporations in the world, Hiperos’ Blueprint is designed to guide organizations through the hallmarks of an effective training program for third parties. Specifically, it addresses the core difficulties associated with training 3rd parties:

  • Which 3rd parties need to be trained?
  • Who at those 3rd parties should be trained?
  • How do companies manage training for new 3rd parties and new learners?

Hiperos’ Blueprint was developed in response to growing concerns by organizations regarding their ability to effectively deliver training to their third parties. Regulatory pressures, particularly in areas such as anti-bribery and anti-corruption, are forcing organizations to evaluate the effectiveness of their existing compliance programs.  While organizations may recognize that training their third parties is as critical as training their employees, few have successfully implemented a third party training program. Recent research indicates that more than 80 percent of companies that provide no training whatsoever to their third parties. The remainder provide only partial training. Although an increasing number of organizations publicly advocate their corporate compliance and governance programs, few are mandating training of their third parties on those programs.

“Training continues to be the one of most critical and problematic areas of companies’ compliance programs,” noted Greg Dickinson, CEO of Hiperos.  “Traditional training has done nothing to address the inability of organizations to easily identify which individuals require training.  Through the work we’ve done with some of the largest corporations in the world, Hiperos understands the intricacies of 3rd party training as well as the limitations of current approaches.  We’ve developed a tried and tested Blueprint to help corporate stakeholders take appropriate, proactive steps to develop and implement a successful third party training program.”

Hiperos’ “Blueprint for 3rd Party Training” is available for download from its website here.  The Blueprint is divided into five key steps that walk an organization through the process for effective third party training.  These sections provide critical, actionable steps that include: understand who needs to be trained; coordinate learner registration; delivery of training, testing and attestation; audit reporting; and ongoing training needs.

Hiperos has proven success in risk identification and management. Leveraging its Blueprint for 3rd Party Training approach, one of Hiperos’ customers has delivered training to 14,000 individual users in less than two months. Hiperos’ software solutions for third party management help customers oversee and monitor a complex and dynamic network of third party partners that are integral to the multi-billion dollar transaction of goods and services around the world.

For more information, visit www.hiperos.com.