Prosegur shores up supplier management with GoSupply

Madrid, 28 November 2022. Prosegur is partnering with GoSupply as a risk monitoring and validation service for its more than 23,000 suppliers in all the markets where it operates. The process covers an extensive analysis of criteria such as financial concerns, sustainability, regulatory compliance, cybersecurity and geopolitics.

In its first phase of implementation, Prosegur has already analysed the Sustainability Scores of the top 3,600 suppliers in Spain, Portugal and Colombia. The company already has a complete risk analysis, including sustainability score, financial score, compliance score and geopolitical score, for critical suppliers. Building further on this assessment, Prosegur has activated latent risk alerts and notifications.

The GoSupply deal bolsters all the purchasing initiatives the company has been developing since the Board of Directors approved the new Sustainability Master Plan in early 2021.

In October 2021, Prosegur updated its Purchasing Policy. A mandatory policy covering all purchasing and hiring of goods and/or services, to ensure a standard procedure for sustainable procurement, proper cost management and to protect 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 according to 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.

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

GoSupply delivers its in-depth risk management expertise and extensive supplier pre-qualification experience, thus enabling Prosegur to ensure that these guidelines are met. The company will thus strengthen Prosegur's efforts to build a more sustainable and resilient supply chain for its business.

Through 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 supplier and, depending on the criticality, risk mitigation plans will be defined. Each supplier will also receive a risk analysis, set of recommendations for improvement, and also a certification in case of a positive assessment.

Prosegur currently works with over 23,000 suppliers in 18 countries (contributing greatly to their economies, since 85% of them are local), and across sectors as diverse as technology, fleets, building maintenance, travel, telecommunications, machinery, equipment, marketing and consultancy, etc.

Curro Berral, Prosegur Global Media Management Director, points out that 'our deal with GoSupply furthers our ambition to deliver the most sustainable business model in our industry. Properly managed supply chains play a crucial role in this. We also want to involve our suppliers in this continuous improvement process so that we can have a positive impact beyond our organisation”.