Tradeshift Introduces Real-time Supplier Risk Monitoring and Compliance Guidance Solution
FREMONT, CA: With the poor execution of technology in the supply chain compliance space, organizations struggle to maintain the large volume of inbound information from their supply chains. To monitor and mitigate the supplier risk, Tradeshift- a collaboration platform that connects buyers, suppliers, and all their processes - launches Tradeshift Risk.
Tradeshift Risk is a supplier management platform that collects all the data including profile data from Tradeshift, custom survey and regulatory data, or risk data from thousands of third-party sources and stores it in one place. By providing a single automated source of all verified supplier data in real time against company and regulatory compliance guidelines, the solution identifies non-compliance, issues alerts and guides users on how to resolve risks.
Key features of Tradeshift Risk include: management of non-compliance risks by leveraging real-time profiles for all suppliers; analyze the data and provides real-time purchasing guidance to buyers; keeps suppliers in charge of their profiles updated on Tradeshift from time to time; and connecting with Tradeshift Buy and Tradeshift Pay to bring buying, supplier management, and payments out of their shells and unifies them all in one place.
With the analysis of data and provision of guidance on what to do next, the risk mitigation engine helps organizations to configure risk scoring, assign scores to suppliers, and see the real scenario of the entire supply chain. On the Tradeshift Risk platform suppliers can add and update all the relevant data which in the course of time is verified. By subscribing to verified supplier profiles, buyers can get instant access to up-to-date data throughout their supply chains.
“The current technology landscape in the supply chain compliance space is siloed, cluttered and poorly executed. It is simply not acceptable for modern organizations to waste countless man-hours and old-fashioned paper trails to combat compliance issues. Tradeshift Risk will finally end the compliance headaches and mitigate risk in real time for organizations of all sizes,” says Christian Lanng, CEO, Tradeshift.