Continuously monitor, assess and mitigate third-party risks to ensure business continuity, enforce compliance and meet sustainability goals
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Consume continuous risk insights tailored to your needs
● Online portal and SSO
● Configurable email alerts
● REST APIs for feeds into procurement control tower or internal dashboard
● Third-party apps (e.g., Coupa and Jaggaer)
Reduce your risk exposures and create business value
● Ensure business continuity with advance visibility into potential disruptions and recommendations to mitigate adverse impacts
● Enforce quality and compliance with integration of supplier SLAs/KPIs and continuous monitoring of their compliance status
● Protect brand and reputation from unethical and illegal actions of associated third parties before it is too late
● Maintain price competitiveness by responding early and effectively to supply disruptions and price escalations
● Benefit from saving opportunities when supply chain developments are favourable
Cut through the noise with category intelligence you can trust
Procurement teams are challenged by increasingly volatile supply markets and continued pressure to cut costs. But with huge swathes of unreliable public information and diverse datasets from procurement and finance systems, it is harder than ever to build and optimise effective category strategies, and identify valuable opportunities.
To deliver the strategic value their organisation demands from them, today’s procurement teams must be able to:
Identify emerging opportunities to cut costs, improve sustainability and lower risk before their competitors
Translate major trends and industry events into actionable innovation strategies that drive value in their categories
Understand the underlying drivers behind sudden price changes, and use that insight to mitigate the business impact
Provide timely guidance on the levers that can be employed to reduce long-term risk and drive sustainable cost savings
Understand evolving business needs and stakeholder demands and ensure category strategies and approaches are fit for purpose
Robust Assessment
Stay on top of risks with comprehensive metrics, continuous updates, dynamic scoring and transparent assessment for all suppliers
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Multi-party collaboration
Collaboration with internal and external stakeholders to mitigate risks on time with everyone in the loop
Easy task assignments
Bulk assignments save time, improve productivity of users during task creation; obsolete tasks can be removed
Automatic notifications
Email notifications for new tasks, notes update, change of status, and reminders to keep risk mitigation tasks on track
Clear roles and priorities
Clear roles drive responsibility as well as accountability; priority labels drive focus on tasks that matter more than others
Notes for quick updates
Notes for ongoing makes collaboration easier; confidential notes can be marked as ‘internal’ for restricted viewing
Other intuitive features
Smart listing of tasks, quick role changes, easy duplication of tasks, open search make risk
mitigation effortlessActionable Insights
Go beyond identification of risks to assessing their impact and managing them effectively using our deep procurement expertise
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Trigger-based Risk deep-dives
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Need-based Risk mitigation (indicative)
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Supplier Risk Assessment: detailed assessment of financial and non-financial risk factors of suppliers
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Alternative Suppliers: intelligence to find and select alternative suppliers
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Financial Risk Assessment: detailed financial analysis to assess solvency and stability of suppliers
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Negotiation Insights: insights for negotiation based on market conditions, supplier power, sourcing practices, etc.
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Category Risk Assessment: in-depth assessment and implications of key market and macro-environment risks
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Substitute Products: insights into potential substitute products in a market
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Event Risk Assessment: in-depth assessment and implications of risks related to specific events (e.g., Brexit)
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Commodity Price Insights: price insights to plan hedging and other cost management strategies
How we work with you
Wondering where to begin? Here’s a step-by-step approach towards proactive third-party risk management
Why choose The Smart Cube?
When you choose Supplier Risk intelligence from The Smart Cube, you always get:
