Integration Enables the Extended Enterprise to Power Next-Level Supply Chain Visibility, Agility, and Resilience
Aravo, the leading provider of third-party risk and resilience solutions, and Supply Wisdom, the leader in continuous risk intelligence and actions, today announced a partnership to provide the extended enterprise with continuous third-party monitoring and real-time insights. The integration will boost customers’ third-party management and disruption prevention efforts amid unprecedented supply chain disruptions.
With a higher frequency and severity of supply chain disruptions converging with new and evolving ESG mandates, the integration provides the ideal solution for organizations to continuously monitor their third parties across a full spectrum of risk domains including compliance, cyber, ESG, financial, and operations.
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“Ongoing supply chain disruption, whether it’s due to extreme weather, geopolitical events, ESG mandates or cyberattacks, continues to take a toll on the extended enterprise,” said Rick Goad, vice president of customer success and strategic alliances at Aravo. “As many companies shift their focus on how best to prepare their supply chain to deal with future unexpected events, Aravo is pleased to partner with Supply Wisdom so our mutual customers can assess, monitor, and mitigate a broader set of third-party risks throughout the lifecycle of the relationship.”
The Aravo Connector for Supply Wisdom provides:
· Real-time third-party risk intelligence with unified visibility into each risk
· Risk domain-specific reporting including compliance, cyber, ESG, financial, and operations
· Simple, easy-to-assimilate risk metrics with color-coding to indicate elevated risks
· Ability to schedule recurring automated data refreshes
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“In today’s dynamic risk environment, more and more companies are recognizing the criticality of real-time risk intelligence for effective TPM,” said Atul Vashistha, founder and chairman of Supply Wisdom. “Supply Wisdom is quickly becoming the standard for real-time, continuous, full-spectrum risk intelligence. Integration of our intelligence into a third-party risk management solution, like Aravo, enables customers to greatly enhance the value they derive from their platform investments by boosting their TPM management efficiency while experiencing fewer disruptions, greater supply chain resiliency, and enhanced business continuity.”
The Aravo Third Party Management platform provides a flexible integration framework to connect with risk intelligence vendors, either through pre-configured Aravo Connectors or open APIs. Aravo Connectors include standard-defined data packages and best practices to help streamline onboarding, enrich risk reviews, enhance continuous monitoring, and trigger alerts and workflows to log issues and generate corrective actions. Aravo dashboards provide a unified view of risk scores for each third party across multiple risk domains including ESG, InfoSec, ABAC, GDPR, financial, ethics, supply chain resilience, and business continuity.
