Case Study: a leading European confectionery group cuts third-party risk assessment time with Panorays

Leading European Confectionery Group cuts third-party assessment time by over 80% with Panorays

The leading European confectionery group faced significant challenges scaling its third-party risk management due to rapid international growth and acquisitions. Their manual, spreadsheet-based processes were fragmented and inefficient, leading to inconsistent oversight of their vast supplier network. This prompted them to seek a new solution from vendor Panorays to automate and unify their approach.

By implementing Panorays' unified platform, the organization replaced its manual workflows with dynamic, automated assessments and continuous monitoring. This solution drastically reduced the time required to assess a supplier from approximately eight hours to just one. The measurable impact included an over 80% reduction in assessment time, improved regulatory readiness, and enhanced collaboration with procurement, allowing the business to scale its operations effectively.