Craft, the leading supplier intelligence platform, is pleased to announce the release of three new product offerings and launch two new partnerships. The launch comes at the start of Digital Procurement World (DPW), a conference showcasing cutting-edge technologies that are shaping the future of procurement. The event began today, September 21, in Amsterdam and concludes on Thursday, September 22.
During DPW, leaders have spoken on the importance of digitizing procurement functions and assessing risk with more accuracy and better predictive modeling technology. And on the heels of recent global supply chain disruptions, enterprise firms are seeking ways to replace siloed and unreliable supplier data with intelligent, real-time insights across multiple advanced risk domains.
“We continue to see a surge in demand for comprehensive, advanced insight on suppliers. Procurement leaders are rightly no longer satisfied to rely on subjective surveys or outdated risk reports, and they are looking for cutting edge solutions that enable them to manage risk and build resilience in their supply chains, ” said Ilya Levtov, Craft’s founder and CEO who is presenting Craft as one of three finalists in the Growth Stage Competition at the DPW conference on Thursday, September 22.
Craft’s new suite of products include Craft Risk Hub, Craft N-Tier Mapping, and Craft Alerts, all of which provide critical, real-time risk assessment via objective data and innovative machine learning models.
Craft Risk Hub helps supply chain and procurement professionals understand the overall health of an entire supplier network and determine where the highest risks exist. Users can surface contextualized insights on suppliers via data-driven benchmarking.
With Craft Alerts, users stay up-to-date on crucial changes to suppliers through real-time monitoring and alerts across multiple risk categories, including cyber, financial, and ESG. Notifications are delivered via email, API, or the Craft Platform, and they’re extracted, categorized and validated from over 200k sources.
Craft N-Tier Mapping removes the fear of single-source suppliers, and sheds light into areas where users may have a false perception of diversification. By highlighting Tier, 1, Tier 2 and Tier 3 suppliers, supplier negotiations and due diligence become more effective and impactful.
In addition to new product offerings, Craft is also excited to announce new partnerships that will provide deeper visibility into companies’ supplier networks, as well as enhance vendor negotiations via robust, best-in-class data ecosystems.
With a Smart Cube-Craft partnership, supply chain leaders will enjoy real-time market updates spanning commodity alerts, economic trends, operational risks and much more.
“We’re delighted to be able to build on our partnership with The Smart Cube to support procurement and supply chain teams who will now be able to experience a seamless workflow between Amplifi Pro and Craft’s Supplier Intelligence Portal. The latest collaboration gives sourcing managers immediate access to category intelligence and powerful insights about individual suppliers across risk domains, contributing to their preparedness ahead of disruptions and a rapid response right after them,” said Seb Butt, Global Head of Business Development at Craft.
Craft is also pleased to join efforts with LeanLinking, an innovator in procurement excellence software, in order to strengthen supplier negotiations via Craft’s powerful repository of financial, operational and market-related supplier data.
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“We are excited to partner up with Craft. Our clients’ procurement teams will get 24/7 access to automated supplier analytics based on the latest supplier data, market intelligence, and risk insights. For the first time, users can benefit from better negotiation strategies and higher impact via truly automated analytics and actionable advice at their fingertips,” said Matthias Toepert, Chief Growth Officer at LeanLinking.
With powerful additions to Craft’s platform of products and partners, procurement and supply chain leaders can feel confident they’re accurately assessing risk and preventing supply chain disruption with a centralized, best-in-class supplier intelligence platform.