Ivalua, a global specialist in spend management, recently announced the release of Risk Center, an enhanced third-party risk module. Ivalua’s Risk Center offers customers a holistic solution to actively monitor and mitigate third-party risk and compliance. Customers are able to consolidate real-time information spanning supplier performance evaluations, transactional data, spend data, contractual information and external risk information from major third-party data providers. This combined picture is visible in actionable dashboards to provide a comprehensive and timely picture of risk and the potential impact on the business.
“Organizations are increasingly dependent on their suppliers, who can be sources of tremendous value but also increased risk,” said Pascal Bensoussan, Chief Product Officer at Ivalua. “Ivalua’s Risk Center brings actionable data and insights from across the supplier lifecycle together with complimentary external data so our customers can effectively manage supplier risk. When combined with the extensive supplier collaboration capabilities embedded in Ivalua’s platform, our customers can unlock the full potential of their supply chains.”
Risk Center’s ability to integrate with third party data providers in real time allows it to meet the unique needs associated with various regulatory environments, industries and customer compliance models. Risk Center can aggregate data on supplier financial health, sustainability, adverse media, sanctions lists, supply chain disruptions and more.
Ivalua was founded in 2000 on a disruptive idea: that Procurement can unlock significant strategic value from a company’s spend and supply chain. Software should empower Procurement leaders to do just that, not constrain them. And it should deliver real innovations, that drive value today. That’s why we created a complete Source-to-Pay platform that delivers best-in-class capabilities today with the flexibility to meet the needs of tomorrow. Now, 19 years later, we have helped over 300 leading companies achieve a competitive advantage by strategically managing over USD 500 Billion in spend.