At ethiXbase, we view corruption as a global threat. Established in 2011, our goal is to help create a business environment in which organisations are committed to doing business with integrity and transparency, while avoiding corruption of any form by complying with the anti-corruption laws of every country in which they operate.
ethiXbase is a value chain sustainability solutions business that delivers robust technology and data analytics to assist corporates and third parties in managing and maintaining sustainable business practices. We have created the most intuitive, robust, and configurable platform to help firms globally, elevate their third-party supply chain in the areas of Anti-Corruption, Human Rights, Environment, and Labour.
We exist to support a business environment where organisations are dedicated to doing business with integrity and transparency. Our technology platform allows companies to digitise, automate, and simplify their third-party compliance lifecycle, drawing information from across the globe to deliver intelligence, instantly. The platform provides crucial intelligence which allows businesses to operate with confidence while acting quickly to seize opportunities in an ever-changing regulatory landscape.
What were the origins of the company?
Our research highlighted that compliance ethics were not at the forefront of the corporate agenda, which needs to change. We wanted to participate in the corporate shift towards taking greater consideration of their ethics. We saw this gap in the business world and decided to fill it.
Aligned with the UN Global Compact, we help companies monitor the values of the UN Global Compact within their supply chain and advise as how they can if it is found that they are not.
Our solutions are designed to make it easy for companies to monitor the values of the pact within their third-party networks, educate their suppliers and partners about these principles and encourage them to adopt the sustainability values for their own. Our technology employs cutting-edge research and analysis to identify potential risks in multi-layered supply chains and provides businesses with a holistic view of prospective third parties.
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How has the company evolved during the pandemic?
The pandemic put a greater focus on sustainability reporting in the eyes of the public, investors, and stakeholders. A report by the Environmental Defence Fund, revealed that 93% of consumers will hold businesses accountable for environmental impact. Another report by PWC found that 48% of consumers want companies to demonstrate more progress on social issues and 54% on governance issues.
We believe that efficient sustainability risk management is an excellent area to bring in technology to take on the task. Current reporting, information, benchmarking, and auditing efforts often focus on listed companies or large multinationals and not on their critical business partners.
These partner networks often present a bigger challenge when it comes to managing risks such as environmental issues, labour abuses, data protection failures and corruption, which may harm an organisation’s market value, financial performance, reputation, operations and risk rating.
In fact, it is estimated that today 80% of global trade passes through supply chains and the problem is that these supply chains are often highly complex, span multiple countries and production tiers and as a result are often disparate, opaque, and lack common governance standards.
We are vocal advocates of using technology to predict and identify risks in a company’s third-party network to mitigate potentially damaging threats to that organisation as well as to free-up employees who no longer need to complete cumbersome manual, administrative tasks.
What can we hope to see from ethiXbase in the future?
ethiXbase will double down on its efforts to focus on the environmental space, as this is the way forward and we want our own business ethics and ethics of those we work with to be rooted in that space.
We want ethiXbase to be the first call for organisations needing to respond to any environmental issues in their third party networks – to give expert knowledge of how an event has happened and how it should be dealt with.
Ultimately, we aim to be leaders with our mission to support organisations worldwide in adopting sustainable and socially responsible policies, and to report on their implementation.
