Supply Wisdom Named Third-Party Risk Product of the Year
Leader Recognized as 2021 Risk Technology Awards Winner in Operational Risk Category
Supply Wisdom – the leader in continuous risk intelligence and risk actions — announced its recognition as the Third-Party Risk Product of the Year by the Risk.net 2021 Risk Technology Awards.
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Congratulations to @Supply_Wisdom on being named the Third-Party Risk Product of the Year in @RiskDotNet’s 2021 #RiskTechnologyAwards! More details in their release.
“We are incredibly proud to be recognized as the Third-Party Risk Product of the Year,” said Atul Vashistha, CEO of Supply Wisdom. “This recognition from Risk.net validates the value that our unique and patented risk management solution provides to our clients. It is a reflection of our passion, client engagement and relentless pursuit to leverage the latest advances in automation and data science for risk management. Our goal is to elevate the entire risk intelligence space beyond legacy practices that leave organizations struggling to keep up with today’s dynamic risk landscape.”
The Risk Technology Awards recognize vendors doing the most to help the industry meet its various challenges in the fields of asset liability management (ALM), credit and operational risk, as well as wider enterprise risk management. Winners are determined by a panel of judges, selected by the editors of Risk.net, including technology users, risk management practitioners and members of the editorial team.
Supply Wisdom was evaluated on product match to third-party risk industry needs, differentiation from other vendors, recent innovations, and how it enabled a better COVID response for its clients.
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“The judges were impressed by Supply Wisdom’s risk monitoring innovations, specifically in regard to the enablement of swift course correction as data points evolved and their patented process to aggreagate data from many disparate sources to provide a comprehensive view of risk,” said Erin Joyce, Manager, Risk Technology Awards.
In the last year, Supply Wisdom has incorporated many enhancments into its continuous, comprehensive risk monitoring solution. The updates include the increased use of automation and the addition of ESG and Nth Party risk domains to its Financial, Cyber, Operations, Location and Compliance risk framework. In recognition that today’s expanded risk landscape has placed an inordinate amount of pressure on risk teams, Supply Wisdom increased adoption of automation, AI, and data science to improve effectiveness and efficiency of the solution. These enhancements enable a significant portion of risk actions to be automated, allowing risk teams to focus their limited resources to the most critical risk mitigation strategies.
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