For the second year in a row, Everstream doubles bookings year-over-year, welcomes new industry-leading clients, and continues investment in rapid product development to build resilient and sustainable global value chains
Everstream Analytics, the global supply chain insights and risk analytics company, shared business momentum milestones, including a record-breaking fourth quarter and doubled year-over-year bookings, an expanded global client roster, and product innovations that deliver unrivaled multi-tier supply chain visibility, risk monitoring, and predictive insights.
Companies of all sizes in nearly every industry continue to grapple with increased supply chain risk and disruption. With an ever-changing spectrum of disruptive forces ranging from an increasingly complex regulatory environment; raw materials and labor shortages; to volatile weather and geopolitical tensions, the need to predict, avoid, and mitigate future supply chain shocks has never been greater.
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Last year, the company launched its industry-shifting solution, Everstream Discover, the only multi-tier visibility solution integrated with an end-to-end supply chain risk management system. Discover’s deep visibility and unsurpassed accuracy powers Everstream’s expanded ESG visibility solutions to expose water, heat, and commodity risks and human rights violations such as forced and child labor deep in supply chain sub-tiers.
Product innovation continued with the release of:
Material Flow: Enables users to quickly quantify the product line value of impacted materials, locations, and layers with alerts of disruptions deep in the supply chain. Automotive, technology, and industrial manufacturing clients were recently notified of a devastating fire at a Tier-2 semiconductor-making facility five days before they learned about it from their affected Tier-1 supplier.
Commodity Insights: Customers saved millions in 2022 on commodity buying with Everstream’s deep insights that take an incident-based view at all levels of a company’s supply chain. Commodity-centric dashboards with material information and strategic risk scores let clients easily understand the impact of looming risk exposure and provide visibility into concentration risks like geographic or single suppliers.
Customized Network Incident Severity: Every company’s risk tolerance is unique to its business. Clients have the control to adjust risk-scoring thresholds based on their company risk appetite for each risk category.
With a growing value-based solution portfolio, Everstream attracted industry-leading enterprise clients, including Danone, Abbott Laboratories, Boston Scientific Corporation (BSCI), and Intertape Polymer Group (IPG), who use the platform to inform strategic planning, monitoring, and risk mitigation while gaining visibility deep into their supply chain, revealing potential risks and disruptions before they impact revenue and customers.
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“2022 was an amazing year for Everstream Analytics, fuelled by increased demand for providers with deep industry knowledge and meaningful insights that enable companies to build more resilient supply chains. Global market volatility and emerging regulations are placing increased pressure on supply chain executives to balance risk, ESG performance, regulatory compliance, and operational improvements,” said Julie Gerdeman, CEO of Everstream Analytics. “Everstream’s platform provides visibility and insights into all four areas, helping companies shift from reactive to proactive supply chain management, compliance, and operational excellence. We’re so grateful to our clients who put their trust in Everstream every day and to our outstanding employees for joining us on this incredible journey.”
Everstream has no plans of slowing down in 2023 with upcoming releases to provide deeper supply chain compliance insights to help companies navigate regulations, including the upcoming European Supply Chain Law and other similar initiatives around the globe. The company is also focused on increasing user personalization and continuing to expand its prescriptive recommendations to guide strategic supply chain decisions and investments.