Prosegur strengthens its supplier management with GoSupply - December 05, 2022
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Prosegur strengthens its supplier management with GoSupply

Monday, December 05, 2022

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Company: Prosegur Cash

Madrid, November 28, 2022. Prosegur has started a collaboration with GoSupply for the approval and risk monitoring of its more than 23,000 suppliers in all the markets in which it operates. The process addresses an exhaustive analysis of criteria such as financial aspects, sustainability, regulatory compliance, cybersecurity or geopolitical.

During the first phase of execution, Prosegur already has the Sustainability score analysis of the first 3,600 suppliers belonging to Spain, Portugal and Colombia. Additionally, the company already has a complete risk analysis, including the Sustainability score, financial score, Compliance score and Geopolitical score, for critical suppliers. As of this exercise, Prosegur has activated latent risk alerts and notifications.

The agreement with GoSupply reinforces all the Purchasing initiatives that the company has been developing since -at the beginning of 2021- the board of directors approved the new Sustainability Master Plan.

In October 2021, Prosegur updated its Purchasing Policy. A mandatory standard that applies to all purchases and contracts of goods and/or services and that has the objective of ensuring a standard procedure for sustainable supply, adequate expense management and protecting the company and its stakeholders from potential risks.

Prosegur also includes supplier management in its Code of Ethics and Conduct. With this, the company selects its suppliers based on criteria of independence, objectivity and transparency, reconciling its legitimate business interest in obtaining the best conditions, with the convenience of maintaining stable relationships with ethical and responsible collaborators.

For this reason, Prosegur encourages the hiring of suppliers that meet Sustainability and Corporate Social Responsibility criteria, that promote and subscribe to the United Nations Sustainable Development Goals and that have some type of ESG certification, either through belonging to sustainable indices , or through certifications in the matter.

To ensure that these guidelines are met, GoSupply brings to Prosegur its in-depth knowledge of risk management and its extensive experience in supplier prequalification. In this way, the company supports Prosegur in building a more sustainable and resilient supply chain for its business.

Thanks to the combination of technologies such as artificial intelligence (AI) and machine learning, and information generated from multiple sources, Prosegur will have real-time details of all the threats presented by a provider and, depending on the criticality, they will be defined. risk mitigation plans. In addition, all suppliers will receive their risk analysis and a series of recommendations for improvement, as well as a certification in case of receiving a positive assessment.

Currently, Prosegur has more than 23,000 suppliers in 18 countries -with a high contribution to their economies since 85% of them are local-, and in sectors as diverse as technology, fleets, building maintenance, travel, telecommunications, machinery, equipment, marketing or consulting, among others.

Curro Berral, Global Director of Media Management at Prosegur, highlighted that "through this agreement with GoSupply, we advance our ambition to build the most sustainable business model in our sector. And the proper management of our supply chain has an important impact on this desire. In addition, in this process of continuous improvement, we also want to involve our suppliers to achieve a positive impact beyond our organization”.

Madrid, November 28, 2022. Prosegur has started a collaboration with GoSupply for the approval and risk monitoring of its more than 23,000 suppliers in all the markets in which it operates. The process addresses an exhaustive analysis of criteria such as financial aspects, sustainability, regulatory compliance, cybersecurity or geopolitical.

During the first phase of execution, Prosegur already has the Sustainability score analysis of the first 3,600 suppliers belonging to Spain, Portugal and Colombia. Additionally, the company already has a complete risk analysis, including the Sustainability score, financial score, Compliance score and Geopolitical score, for critical suppliers. As of this exercise, Prosegur has activated latent risk alerts and notifications.

The agreement with GoSupply reinforces all the Purchasing initiatives that the company has been developing since -at the beginning of 2021- the board of directors approved the new Sustainability Master Plan.

In October 2021, Prosegur updated its Purchasing Policy. A mandatory standard that applies to all purchases and contracts of goods and/or services and that has the objective of ensuring a standard procedure for sustainable supply, adequate expense management and protecting the company and its stakeholders from potential risks.

Prosegur also includes supplier management in its Code of Ethics and Conduct. With this, the company selects its suppliers based on criteria of independence, objectivity and transparency, reconciling its legitimate business interest in obtaining the best conditions, with the convenience of maintaining stable relationships with ethical and responsible collaborators.

For this reason, Prosegur encourages the hiring of suppliers that meet Sustainability and Corporate Social Responsibility criteria, that promote and subscribe to the United Nations Sustainable Development Goals and that have some type of ESG certification, either through belonging to sustainable indices , or through certifications in the matter.

To ensure that these guidelines are met, GoSupply brings to Prosegur its in-depth knowledge of risk management and its extensive experience in supplier prequalification. In this way, the company supports Prosegur in building a more sustainable and resilient supply chain for its business.

Thanks to the combination of technologies such as artificial intelligence (AI) and machine learning, and information generated from multiple sources, Prosegur will have real-time details of all the threats presented by a provider and, depending on the criticality, they will be defined. risk mitigation plans. In addition, all suppliers will receive their risk analysis and a series of recommendations for improvement, as well as a certification in case of receiving a positive assessment.

Currently, Prosegur has more than 23,000 suppliers in 18 countries -with a high contribution to their economies since 85% of them are local-, and in sectors as diverse as technology, fleets, building maintenance, travel, telecommunications, machinery, equipment, marketing or consulting, among others.

Curro Berral, Global Director of Media Management at Prosegur, highlighted that "through this agreement with GoSupply, we advance our ambition to build the most sustainable business model in our sector. And the proper management of our supply chain has an important impact on this desire. In addition, in this process of continuous improvement, we also want to involve our suppliers to achieve a positive impact beyond our organization”.


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