@Risk

Most of the posts on this blog are focused on building awareness about the growing number of supply chain risks embedded in today’s complex and unpredictable global business environment.

This post, however, will take a slightly different tack. Rather than talk about potential problems, I’m going to highlight a solution:

Today, Aravo is launching Supplier Risk QuickStart, a software and services package to help you jumpstart a supplier risk management program.

Aravo Supplier Risk QuickStart identifies and analyzes risk for critical suppliers, and provides an expandable foundation for managing the identified threats. The solution can be implemented in 60 days or less for a fixed price of $50,000, which includes all software, services, training and support.

For example, Aravo Supplier Risk QuickStart provides:

• Supplier risk assessment: quickly identifies high risk suppliers and key at-risk categories;

• Supplier data import: imports profile data for up to 1000 suppliers;

• Supplier risk profile: compiles risk profiles from up to 100 key supplier risk-focused attributes such as revenue, credit scores, and SAS 70 compliance, among many others;

• Zero-touch updates from internal data sources: automatically collects risk information directly from internal sources such as disparate IT systems and departmental business stakeholders;

• Automated workflows and alerts: proactively notifies stakeholders about potential supplier risk issues, and enables collaboration on mitigation initiatives and corrective action planning;

• Integrated survey tools: helps users compile and assess existing risk data and identify potential gaps in data or policies;

• Implementation and training: includes 60 day Aravo Global Services implementation, user training, and ongoing support.

This new package is a subset of Aravo Risk, our enterprise risk product – and the industry’s only SaaS solution that takes a holistic supplier lifecycle approach to managing supplier risk. While other products offer single components such as risk analysis, transactional compliance, or third-party ratings, Aravo Risk combines all of these elements into a comprehensive solution that helps organizations centralize supplier risk management and build a complete risk profile of their suppliers. It offers a 360-degree view that encompasses a broad range of risk management strategies– from evaluating new suppliers to monitoring everyday transactions to performing audits and compliance reviews.

Most companies understand the need to manage supplier risk. But, many are unclear on how or where to begin the process. Our new Supplier Risk QuickStart package is an easy first-step to help you quickly identify your highest risk suppliers, while creating the foundation for future implementation of a full-scale supplier risk management program.