CARLSBAD, Calif., July 20, 2016 /PRNewswire/ -- More U.S. companies are providing greater details about their efforts to determine if their products contain conflict minerals under federal rules designed to help end a bloody war in Africa, according to an analysis by Source Intelligence of reports filed with the SEC this year.
In announcing its study today, Source Intelligence (SI) also found that while more companies conducted independent audits to verify their products were "conflict-free", there actually was an increase in the number of companies that simply filed reports without listing any conflict determination for their products.
"It is becoming clear to us in our filings review that while companies are understanding the importance of supply chain transparency, there remains serious challenges for many who seek cooperation within the supply chain to attain proof," said Jess Kraus, CEO of Source Intelligence.
Companies filing the most complete SEC reports are using outside expertise to help investigate their supply chains. In the latest filings, Source Intelligence once again was the most-listed third party service provider to help companies implement their due diligence and compliance activities.
SI also found that of the 1,213 (as of June 20, 2016) companies filing this year, about 47 percent are in manufacturing-related industries. The remaining 53 percent belong to other industries, such as electronics, retail & apparel and telecommunications.
About Source Intelligence®
Source Intelligence® (SI) is a global network of businesses linked together to expedite the exchange and validation of compliance information. SI's cloud-based SaaS platform helps customers make informed decisions about business partners to offer products that meet legal, ethical, and environmental standards. The company's information and analytics platform provides customers with visibility into supply chains in order to comply with the law, minimize operational and brand risk, and improve efficiency. Founded in 2009 by career experts in environmental solutions and analytics, Source Intelligence® has headquarters in Carlsbad, California and operations worldwide. SI has received multiple awards, including "2016 Product of the Year" by Environmental Leader, the "2015 GRC Innovation Award" by analyst firm GRC 20/20, "Most Promising Supply Chain Tech Solution Provider for 2014 and 2015" by CIO Review, and CEO Jess Kraus was recently named "CEO of the Year" by CIO Review.
Source Intelligence® Contact:
Lina Ramos, Chief Business Officer
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-companies-providing-more-details-in-latest-conflict-minerals-filings-with-sec-but-supply-chain-transparency-challenges-remain-300301451.html
SOURCE Source Intelligence