As part of the end-to-end offering in Prewave, we have worked with the global enterprise TÜV SÜD to offer our customers an ESG Supplier Audit.
About TÜV SÜD
TÜV SÜD audits are among the best-known of their kind in Germany and the rest of the world. The blue octagon is associated with credibility, neutrality, competence and reliability. This positive image is based on the high standards and high quality of their audits. This philosophy is embedded in their company’s principles and is the basis for each and every one of the TÜV SÜD service portfolio.
The ESG Supplier Audit at a glance
This is an on-site audit, deployed by a local, certified auditor as part of TÜV SÜD's worldwide network. The audit aims to assess the maturity level of a company’s defined controls and implemented practices in place to:
Achieve goals in the field of Environment, Social and Governance responsibility
Address compliance with relevant regulations and standards
Mitigate risks of adverse impacts
Promote continuous improvement
This is an audit commissioned via the Action Platform. Prewave handle deployment and coordination with TÜV SÜD. It gives you a quick and seamless way to run an audit at a supplier, and have that data and score fed back into Prewave.
Advantages of running an audit
Demonstrate compliance to your stakeholders against statutory requirements, and avoid regulatory issues and legal challenges
Identify and mitigate risks and vulnerabilities by independently cross-checking your initial risk assessment through on-site visits at your suppliers’ facilities.
Enhance your brand reputation by fostering stakeholder engagement, gaining valuable insights from your suppliers and developing joint action plans for continuous improvement
Gain investor confidence and increase access to capital by ensuring your company's suppliers adhere to your sustainability and ethical standards
How does it work?
From ordering an audit to receiving the results, we aim to make this as hands-off and simple for you as possible. Prewave will keep you in the loop and answer any questions you have along the way
Purchase Action Credits
Identify a supplier in Prewave where you would like to deploy an on-site audit
Request the Action from the Prewave Action Platform. Our Supplier Success team will reach out to you to discuss next steps.
Prewave will handle all the communications with the partner organizations and answer any questions you may have along the way
TÜV SÜD run a supplier feasibility check to see whether the audit can be deployed. If yes, a local auditor is assigned and the audit will be started
We will keep you updated on the audit progress as it is being deployed
Once the audit has finished, we will inform you that the Action has been completed and the status will update automatically in the Prewave system
Our team will release a report to you and the aggregated results of the audit will be added to the supplier's 360 score
More information can be seen on the ESG Supplier Audit page in the Action Platform
Get a quick, free and non-binding consultation on whether this Action is suitable for one of your suppliers by speaking to your Customer Success Manager or emailing [email protected]