What are Supplier Risk Management Solutions? Reviews and Ratings
What are Supplier Risk Management Solutions?
Supplier risk management solutions are advanced technology platforms designed to facilitate comprehensive supplier risk management activities. These platforms not only aid in the identification and continuous monitoring of potential risks, such as financial instability, geopolitical concerns, and compliance challenges, but also enable a thorough analysis of their holistic impact. Furthermore, they support the coordination of both operational and strategic responses to mitigate these risks effectively. Integral to end-to-end supply chain risk management, supplier risk management aims to assist organizations in mitigating prioritized risks across the entire supply ecosystem — encompassing both physical and digital domains.
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Resilinc provides supply chain management solutions designed to enhance the resilience, transparency, and security of global supply networks. Through its technology platform, Resilinc enables organizations to collaborate with suppliers and customers, fostering visibility across multi-tier supply chains. The company offers tools for mapping, monitoring, and building resilience within supply chains, helping organizations recover more efficiently from disruptions. Since its founding in 2010, Resilinc has developed systems that analyze and predict potential disruptions across suppliers, sites, and materials, enabling proactive collaboration with suppliers. The platform uses historical data and insights to offer actionable solutions, including AI-powered tools that predict delivery delays, price fluctuations, and raw material supply constraints.
Prewave is an end-to-end supply chain risk intelligence platform that enables businesses to identify, assess, and mitigate risks across their global supplier networks. Using advanced AI, Prewave analyzes data from over 200 risk categories and 400+ languages to provide real-time insights into potential disruptions. With a global presence, Prewave supports procurement, sustainability, and supply chain professionals—along with risk and compliance teams—in making informed decisions to enhance transparency, resilience, and sustainability. Prewave helps organizations monitor risks from tier-1 suppliers to raw materials, ensuring business continuity and sustainable operations.
RapidRatings is a risk management firm that delivers transparency in financial health between business entities. The company specializes in advanced analysis of the financial stability of both private and public organizations across over 140 countries globally. Its primary function is to employ predictive analytics to offer insights into probable performances of suppliers, vendors, and other third parties.
Exiger is a company that specializes in providing risk and compliance solutions for corporations, government agencies, and banks. The focus is on navigating the complexities related to third-party, supply chain, and customer-related risks. Using its advanced technology, Exiger is prominently involved in areas like ESG, cyber risk, financial crime, third-party, and supply chain management. The company supports numerous organizations worldwide, both from the public and private sector, with its AI technology. Moreover, Exiger places a strong emphasis on promoting safety and transparency in all aspects of business operations.
Achilles is a company with over three decades of operating history, focused on providing supply chain transparency and management solutions. The organization's main offering revolves around supporting businesses that need comprehensive environmental, social, and governance (ESG) reporting, helping them adhere to ESG regulations, and meet investor requirements. Achilles also assists companies in realizing their sustainability targets. The firm's services are required by entities seeking in-depth analysis and expert insight for high-confidence reporting. Based in various locations globally, Achilles is engaged in the fight against climate change and stands for social justice and human rights. Additionally, the company offers expertise in health, safety, and risk management.
Altana is a New York-based organization that has pioneered in establishing the first Value Chain Management System. This system is an amalgam of public and private networks that aid users in managing their comprehensive distribution and supplier networks, right from the commencement of raw materials to the sale of completed products. Altana utilizes artificial intelligence to analyze the most extensive value of supply chain data, hence revealing globally connected networks that were previously unclear. This also allows workflows to be executed across those networks. Altana's primary application is to assist in creating global value chains that are secure, resilient, and efficient.
apexanalytix, a company primarily focused on technology and audit services aims to facilitate its customers in managing, monitoring, and innovating in their supplier relationships and transactions. The company's ethos revolves around prioritizing performance, respect, and candor. Apexanalytix holds a respected position in the realm of recovery audit, attributable to its advanced analytics and the introduction of firststrike, an overpayment and fraud prevention software. Additionally, it is a pioneer in supplier management innovation with tools such as apexportal and smartvm. These are widely used for supplier onboarding and compliant master data management in global procure to pay processes. Furthermore, apexanalytix has a diverse team of experienced associates spread across various key global markets who work cohesively to deliver the ultimate supplier management experience.
Aravo provides intelligent automation solutions aimed at managing third-party risk and resilience. For over two decades, the company's technology and domain expertise has facilitated the acceleration and optimization of third-party management programs for various brands. Aravo's solutions offer usability, agility, and scalability, enabling even complex organizations to keep up with the pace of regulatory changes. As a centralized system for all data related to third-party risk, Aravo provides a comprehensive view of an organization's third-party ecosystem throughout the lifecycle of their relationship. The company's services assist in the management of risk and performance of millions of third parties, suppliers and vendors globally.
Bitsight provides cyber risk intelligence solutions that uncover security gaps across infrastructure, cloud environments, identities, and third- and fourth-party ecosystems. With 3,300 customers and 65,000 organizations active on its platform, Bitsight delivers real-time visibility into cyber risk and threat exposure—enabling teams to identify vulnerabilities, detect threats, prioritize actions, and mitigate risk across their extended attack surface. From security operations and GRC teams to the boardroom, Bitsight provides the unified intelligence backbone organizations need to proactively address exposures before they impact performance.
Coupa Software is a cloud-based platform focusing on business spend management (BSM). The primary objective of Coupa Software is to provide companies with the necessary tools and features needed to gain visibility and control over their business expenditures, enabling them to make more effective and secure spending decisions. The company has a global outreach and serves an extensive range of businesses worldwide.
Craft is a collective of design professionals and creators engaged in the creation of digital products widely utilized by numerous individuals. Craft's operation revolves around the formation of brands and the development of experiences aimed at fostering business growth. The methods employed encompass pleasing, user-focused design, UX, and product strategy. Craft engages with businesses of varying sizes, including nascent startups and sizable consumer and corporate bodies.
Dun & Bradstreet is a global provider of business decisioning data and analytics. Its primary focus is to help companies enhance their business performance. Its Data Cloud operates to fuel solutions and provide insights that allow businesses to increase revenue, reduce cost, minimize risk, and transforms their functionalities. Founded in 1841, Dun & Bradstreet has supported businesses of diverse size in risk management and opportunity revelation.
EcoVadis focuses on delivering trusted business sustainability ratings. It serves an array of entities including global supply chains, financial organizations, and public institutions who aim to monitor and enhance sustainability performance. EcoVadis' system utilizes an evidence-based rating model, underpinned by an advanced technological setup. Furthermore, the ratings are verified by a team of experts from across the globe. The company's offerings extend to over 200 industrial sectors, 160 countries and all sorts of business sizes. EcoVadis' scorecards are designed to be actionable, providing benchmarks, insights and a guided journey to improve environmental, social, and ethical practices. EcoVadis assists with driving resilience, fostering sustainable growth, and creating positive worldwide impacts.
This company primarily focuses on assurance provision, uniting a comprehensive spread of expertise in areas such as certification, brand assurance, food safety, cybersecurity, inspection, and training. The key objective consists of supporting clients in creating businesses that are safer, more secure, and sustainable. To do this, the company offers a variety of services such as independent auditing, certification and training, technical advisory services, real-time assurance technology, and data-oriented supply chain transformation. This allows clients to navigate effectively in a swiftly evolving risk environment and exercise control over their destinies. Their solution-oriented approach is informed by solid values and the accumulated experience in the field of risk management and mitigation.
Everstream Analytics is on a mission to help companies build more agile, resilient, and sustainable supply chains. Through the application of artificial and human intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics companies need to see, understand, and act on supply chain risk anywhere in their global supply chain, from raw materials to the store shelf.
Everstream Analytics is on a mission to help companies build more agile, resilient, and sustainable supply chains. Through the application of artificial and human intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics companies need to see, understand, and act on supply chain risk anywhere in their global supply chain, from raw materials to the store shelf.
Everstream Analytics is on a mission to help companies build more agile, resilient, and sustainable supply chains. Through the application of artificial and human intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics companies need to see, understand, and act on supply chain risk anywhere in their global supply chain, from raw materials to the store shelf.
Fortress operates in the cybersecurity industry, employing AI technology to protect critical infrastructures and government agencies from cyber threats and mission-related risks. The firm's primary function addresses vulnerabilities in supply chains to enhance security.
GEP is a global enterprise specializing in transformative supply chain solutions. It offers agile and resilient operations to enhance efficiency and productivity, while boosting profitability and shareholder value. GEP is comprised of three entities: GEP SOFTWARE, GEP STRATEGY, and GEP MANAGED SERVICES, all of which work collectively to address supply chain challenges. With the aid of its innovative products and dedicated team, GEP continues to cater to enterprises globally, assisting in the attainment of strategic, financial, and operational goals. As an AI-first, cloud-native company, GEP uses digital business platforms to support and streamline processes. It is a global enterprise, headquartered in Clark, New Jersey, with operational centers across Europe, Asia, Africa, and the Americas.
GoSupply, established in June 2017, provides comprehensive supplier risk assessment and monitoring services. The company's focus lies in fulfilling emerging client demands for these services in the wake of increased digitalization. Utilizing the collective expertise and experience of its founders, GoSupply designs and implements an array of pertinent services. These are aimed at enhancing procurement and compliance within organizations through innovative technologies for supplier risk identification and management. The company's central offering involves the provision of real-time information gathered from third-party proprietary data and web crawling. GoSupply also offers thorough risk monitoring through advanced, risk-based analytics and senior dashboards permitting a one-page-view oversight of entire portfolios based on a risk-based approach. Furthermore, the platform is designed to incorporate value-added services to improve communication or interaction with suppliers.
Features of Supplier Risk Management Solutions
Mandatory Features:
Risk response management: 1. Incident tracking and management tools to document and address supplier-related issues. 2. Root cause analysis and corrective action planning. 3. Coordination of risk response efforts for seamless reporting and oversight.
Risk identification and assessment: 1. Advanced algorithms and models to assess and score supplier risk based on various parameters such as financial stability, geopolitical factors, compliance and operational performance. 2. Customizable risk assessment frameworks to align with organizational risk appetite and industry standards.
Continuous monitoring: 1. Monitoring of suppliers using data feeds from news, regulatory updates, and other relevant sources. 2. Alerts and notifications for changes in supplier risk profiles. 3. Provide risk intelligence for broader risk visibility covering several risk domains, including financial, sustainability/ESG, event monitoring (e.g., geopolitical, extreme weather, etc.), capacity, cyber monitoring, performance and compliance.
Learning and analytics: 1. Metrics and KPIs to evaluate supplier performance and risk over time. 2. Data visualization tools for intuitive analysis and decision making, such as dashboards and reporting tools for visualizing supplier risk and performance data. 3. Advanced analytics and machine learning capabilities to identify risk patterns and trends.