Many corporate policies require employees to declare, verify and document gifts or invitations they receive from clients, business partners or suppliers. In this way, later allegations of corruption and bribery can be identified and investigated in detail. Furthermore, approval processes help employees to make the right decision without having to fear consequences later on. Many companies apply the principle of appropriateness, i.e. that gifts or invitations should be in accordance with local customs and luxurious gifts should be avoided. Another factor concerns regularity, as gifts and invitations should only be accepted sporadically so that any allegations of corruption can be refuted.
Due to the high number of approvals and country-specific guidelines and laws, larger and international companies are advised to use a digital solution that maps the entire compliance approval process easily and efficiently. Gifts and invitations are governed by the Foreign Corrupt Practices Act (FCPA) in the USA, Sapin II in France and by the UK Bribery Act. Thus, a digital solution helps to comply with national laws, enables employees to quickly carry out approval processes regardless of location and language and saves auditors a lot of time.