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KMPG Launches Third Party Intelligence: Intelligence Engine to Anticipate Third-party Disruptions

By CIOReview | Friday, April 29, 2016
Charles Collier, Managing Director, State & Local CIO Advisory of KPMG, U.S

Charles Collier, Managing Director, State & Local CIO Advisory of KPMG, U.S

NEW YORK: In a move to empower businesses with pre-emptive steps before any disruption hits the market, KPMG Spectrum has launched its latest intelligence offering, Third Party Intelligence. KPMG Spectrum offers intelligence engines unique to the marketplace that combine human expertise with the power of technology to deliver actionable intelligence.

"Many executives try to monitor disruptive events caused by third parties in real-time, minimizing their ability to react quickly enough to contain resultant damage – whether financial, reputational, legal, or otherwise.  In the current environment real-time is no longer fast enough. Third Party Intelligence allows us to alert clients to vulnerabilities in advance, giving businesses the insight to act ahead of time and potentially avoid disruption altogether", extolled Larry Raff, Head of KPMG Spectrum during the launch.

The intelligence engine runs on KPMG Spectrum's patent-pending technology that monitors, reports and projects impact of third-party disruptions before they hit the market. Drawing data from financials, news feeds, websites and blogs Third Party Intelligence uses sophisticated algorithms to locate and project vulnerability trends in individual third parties and the countries in which they operate - a key differentiator from risk data providers who leave this analysis to the client.

"A single incident with a supplier can have significantly negative implications to the organization and ultimately the end customer.  With Third Party Intelligence, decision makers across the organization can act with confidence to take a proactive stance against disruption threats caused by third-parties," Raff added.

Third Party Intelligence allows businesses to concentrate their resources on strategic activities and has proved to be cost and time saving according to the early users.