ECONOMY

The initiative was developed in response to the growing requirements for transparency, regulatory compliance, ESG risk management and supply chain resilience, which increasingly shape business operations at both European and international level.

NOVA, a leading telecommunications company in Greece, has developed a holistic and multi-layered responsible supply chain governance framework that covers every stage of the procurement process — from supplier sourcing and onboarding to contract completion and supplier evaluation.

Digital Procurement Governance

At the core of the initiative lies the GEP platform, a leading cloud-native and AI-driven procurement solution.

This digital approach enables:

• enhanced traceability,
• transparency across all procurement stages,
• real-time monitoring,
• faster decision-making,
• more effective management of regulatory and operational risks.

Every procurement request is submitted, evaluated, approved and completed electronically without the use of physical documentation (fully paperless process).

The GEP platform covers the entire procurement lifecycle: from procurement requests and competitive tendering processes (RFP/RFQ), to bid evaluation, award procedures and onboarding of new suppliers. Upon the full completion of the GEP process, SAP purchase order issuance and approval), eSign (electronic contract signing), and Filenet (digital contract archiving) are utilized sequentially and independently.

At the same time, the Investment Committee ensures that every procurement request exceeding €1,000 is approved by the CEO and CFO, guaranteeing a high level of corporate governance and accountability in every procurement decision.

Multi-Layer Supplier Evaluation & Monitoring

Supplier assessment is implemented through four distinct and complementary layers:

• GEP Registration Process: submission of legal documentation, financial data, quality certifications and mandatory acceptance of the United Group Supplier Code of Conduct, Compliance Annex and Confidentiality Agreement.
• NAVEX Platform: regulatory compliance screening including sanctions checks, Politically Exposed Persons (PEPs), adverse media screening and geographic risk assessment.
• ICAP Reports & Tiresias Alert: assessment of financial sustainability, credit risk evaluation and real-time monitoring of payment defaults and financial liabilities.
• Official Vendors Evaluation (annual): technical KPI assessment conducted by Business Owners combined with financial evaluation by the Procurement Department.

This multi-layered approach enables NOVA to comprehensively evaluate supplier reliability, financial stability, regulatory compliance and overall sustainability performance, while strengthening transparency and the long-term resilience of the value chain.

Contractual Accountability & Business Ethics

For every significant or critical project, NOVA signs extensive contractual agreements incorporating:

• anti-corruption and anti-bribery clauses,
• full GDPR compliance requirements,
• subcontractor control provisions,
• Health & Safety obligations,
• Business Continuity Plans (BCP),
• cybersecurity policies.

The Right of Access & Audit clause, allowing on-site inspections at supplier premises, constitutes an integral part of every major agreement.

Through this framework, NOVA strengthens supplier accountability and compliance, ensuring that responsible business conduct requirements extend across the entire value chain.

Environmental Commitment & CDP Participation

A particularly innovative aspect of the initiative is the invitation of key suppliers to participate in CDP (Carbon Disclosure Project) — the world’s leading environmental disclosure system for businesses.

Through this initiative, NOVA encourages its partners to actively measure, disclose and reduce their environmental and carbon footprint, progressively enhancing environmental transparency and responsibility across the value chain.

This approach contributes to the development of a more sustainable and resilient supply chain with a lower environmental footprint.

The initiative stands out because it transforms Procurement from a traditional operational function into an integrated ESG governance, risk management and digital value chain governance mechanism.