Putting partners under the microscope
Integrity due diligence gives manufacturer confidence to appoint new overseas sales agents
As a manufacturer of photonic solutions for the defence industry worldwide, Qioptiq (An Excelitas Technologies Company) has long recognised the risk of corruption to its business. For nearly 10 years, Interchange has been conducting independent integrity due-diligence for the company on prospective sales agents in countries where there is increased risk of corruption.
At the outset, we worked with Qioptiq to design a two-stage due-diligence process. If we identify any potential risks in an assessment at stage one, we carry out a more thorough investigation. This process is integral to the way Qioptiq appoints new partners.
The process is open source, completely referenced and involves all the parties including the intermediary. Qioptiq gets a fully referenced report and graphical risk chart that shows the risks and how they can be mitigated. This gives a 360-degree picture of all aspects of the intermediary’s business including any illicit or risky activities.
At the same time, new partners fully understand, before they are appointed, what it takes to meet Qioptiq’s high ethical standards.
We have now undertaken due-diligence investigations for Qioptiq in more than 50 countries.
Qioptiq designs and manufactures photonic products and solutions that serve a wide range of markets including medical and life sciences, industrial manufacturing, defence and aerospace. It has sites throughout Europe, Asia and the USA and employs more than 2,100 people.