Case Study: a luxury fashion accessories manufacturer streamlines compliance and saves millions with NAVEX Lockpath

a luxury fashion accessories manufacturer saves $3.7M annually with NAVEX

A luxury fashion accessories manufacturer and retailer faced the challenge of complying with Dodd-Frank Section 1502 and similar international regulations concerning conflict minerals in its extensive global supply chain. The process of conducting due diligence and audits was projected to be extremely costly and time-consuming. To address this, the company selected the governance, risk management and compliance (GRC) platform from NAVEX, specifically Lockpath.

By implementing NAVEX's Lockpath platform, the company streamlined its compliance process and was able to get its conflict minerals program up and running in just six weeks. The solution delivered substantial results, including an estimated $3.7 million in annual savings and a dramatic reduction in the time required to distribute surveys, from weeks down to minutes. Overall, NAVEX's platform saved the company an estimated six to twelve months of manual effort.

Luxury Fashion Accessories Manufacturer