Without the right supplier data at your fingertips, it becomes a lot harder to react effectively to the risk your business faces. By collecting and verifying the kind of information that buyers need we not only sharpen their reaction times, we help them be more proactive in managing third party risk too.
Every business faces risks that range from the everyday to the exceptional. But no matter the scale of the risk, the best way to ensure minimal disruption is through increased oversight, active monitoring and strategic planning. The high quality and accurate data that we provide buyers means that procurement and supply chain teams can spend less time gathering and verifying data, and more time increasing the resilience and adaptability of their business.
In supply chains
of businesses have experienced disruption impact from the failure of a single supplier Vuealta study - 2019
Part of our supplier pre-qualification process is collecting and verifying data relating to risk. This gives buyers a more complete and accurate view of the risk profiles of potential and current suppliers. We remove the uncertainty of working with new companies and help strengthen existing relationships.
It has given us a new viewpoint over our organisation, helping us to become a more ‘serious’ and better organised company, more able to address and manage risk. It also enforces the discipline to keep up with documentation at all times, which is straightforward under the new system.”