A solution to reduce the risk of non-compliance within the supply chain.

Challenge

Create a solution that centralizes all supplier data and reduces the risk of non-compliance within the supply chain, by ensuring all information is current and automatically updated.

Solution

• Using an online platform that centralizes all supplier data, users can on-board category-specific suppliers with minimum effort and no manual work required.
• Allow suppliers to maintain their own data, to remove a huge admin burden for end users.
• Automation scoring on all supplier answers and updates.
• Allow users to perform pre-and-post award risk checks and ensure that suppliers meet the organization’s risk criteria.
• Enable user to define, standardize, and automate due diligence processes and approval workflows.
• Easy tracking and identification of any changes in supplier risk profiles.
• Incident management to improve users’ ability to detect and prevent fraud, contain costs, and protect revenue.
• Connectivity to all external risk and corporate information databases such as, Dow Jones, Thomson Reuters, LexisNexis, Dun & Bradstreet and more.

Benefits

• 65% reduction in supplier management resources and costs.
• Faster identification of any potential third-party risks.
• Maximize compliance.
• Minimize risk.