Data-driven compliance with Volvo Car Germany: Identifying risks & building trust
Volvo Car Germany faced a key challenge: legal requirements for compliance and risk assessment had become more stringent. The team in Germany was instructed by the headquarters in Gothenburg, Sweden, to assess and monitor every business partner – whether dealer, supplier or major customer – for financial stability and potential compliance breaches.
Today, the team at Volvo reviews every new business partner before entering into a contract. “This is important. Compliance risks arise when legal requirements, internal policies or ethical standards are not followed. This can result in legal consequences, financial losses and damage our reputation. That’s why it’s essential to identify these risks early, assess them thoroughly and manage them through effective control mechanisms. This is a key part of our risk management”, says Claudia Grüninger, Specialist Data Protection, Compliance & Ethics at Volvo Car Germany.
Minimise compliance risks strategically
To screen business partners, the team uses D&B Risk Analytics – Supplier Intelligence from Dun & Bradstreet. This automated solution continuously checks partners against global sanctions lists, PEP lists and adverse media sources, based on the company’s own compliance policy. D&B Risk Analytics – Supplier Intelligence automatically detects violations of the Supply Chain Act, indications of money laundering, or problematic trade relationships – for example, with countries such as Syria or Russia. "If risk factors change, we receive an automatic notification via D&B Risk Analytics – Supplier Intelligence and can respond immediately. This has already helped us prevent major damage and identify partners who were on the verge of insolvency." The tool also enables special checks on beneficial owners.
"Thanks to the excellent data quality, we can often skip obtaining other credit reports when pre-screening business partners. That saves both time and money.”
"To protect our brand from reputational damage, we review every business partner for compliance risks and continuously monitor the companies. For this purpose we use D&B Risk Analytics – Supplier Intelligence. A solution that has become indispensible for us in risk management, enabling us to make fact-based decisions."
Security, efficiency and transparency
"With D&B Risk Analytics – Supplier Intelligence, we’ve found a reliable solution to minimise compliance risks and make well-informed business decisions. Our partnership with Dun & Bradstreet provides clarity, efficiency and long-term protection for our company,” says Grüninger.
Strengthening compliance
With D&B Risk Analytics – Supplier Intelligence in place, companies can effectively:
- Clearly identify new business partners
- Detect compliance risks
- Ensure transparency in ownership structures
Dun & Bradstreet combines global data with local expertise to help its clients make smarter decisions.