riskmethods and POOL4TOOL announce partnership

Interaction between SRM, Sourcing, and Risk Management

April 23, 2014

riskmethods / Munich, April 23, 2014 – riskmethods, the technological market leader for risk analysis of global supply chains , is now working together with POOL4TOOL, solution specialist for electronic process optimization in tactical and strategic sourcing in purchasing . All risk-relevant information about suppliers, locations, and supply chains from the riskmethods “Supply Risk Network” will now be channeled into POOL4TOOL’s “All-in-One Supplier Collaboration” platform. The risk profiles, which include financial and quality key figures, as well as compliance and sustainability factors and political and location-related risks, are crucial when it comes to making awards, and they reinforce supplier relationships. Data from POOL4TOOL can also be integrated into risk strategy and prevention.

The partnership between riskmethods and POOL4TOOL will further support the purchasing processes, purchasing decisions, and risk prevention strategies of clients.

“In these times of global sourcing and ever increasing added value, global transparency in the supply chain is crucial,” explains Heiko Schwarz, Managing Director at riskmethods. “Detailed risk profiles are significant criteria for decision making in global sourcing processes and supplier relationship management activities.”

An interactive world map is displayed in POOL4TOOL, including suppliers, supply chains and locations with corresponding risk assessments. “Without leaving the supplier portal, our clients can access risk-related information about suppliers, pre-suppliers, and risk scorecards in one place. They can also use the content for processes surrounding the supplier scorecard, the supplier evaluation, the supplier selection process, and for improving the supplier and category strategies,” explains Thomas Dieringer.

Risk information from the "Supply Risk Network" goes directly into the POOL4TOOL Supplier Relationship Management and Sourcing modules. The data are used as criteria for supplier qualification or evaluation, analysis related to classification, award decisions, or to establish a supplier strategy. In addition, clients also benefit from the nearly real-time monitoring of the “Supply Risk Network,” which allows possible dangers to be identified early.

Data from the supplier and contract management processes can also be integrated into risk management in order to enrich quality risk assessments, for example, with supplier evaluations. Factors such as a supplier’s contract duration, shareholding relationships, purchasing volumes, or dependencies are all significant criteria that assist companies assess potential damage in the case of a risk event, and allow companies to react quickly and appropriately.

POOL4TOOL is a cloud-based supply chain and procurement solution suite for connecting business partners across the value chain. With POOL4TOOL, companies can implement a single, natively integrated suite to support multiple internal processes and communicate with suppliers. The portfolio includes software solutions for over 40 processes, including supplier relationship management, sourcing, supply base management, supply chain management, eCollaboration, quality control, and product costing (PLC). With more than 10 years of experience in the manufacturing industry, POOL4TOOL’s solutions are tailored to support manufacturing procurement processes and requirements, e.g. sourcing of direct material, BOM, drawings, should cost model, and VMI functionality. Beside the headquarters in Vienna (Austria), the POOL4TOOL incorporation runs subsidiaries in Munich and Stuttgart (Germany), Paris (France), Detroit (USA), and Singapore. The company serves more than 200 international clients, i.e. Alcan, Behr, Carl Zeiss, Dürr, Kärcher, Miele, Modine, ThyssenKrupp, and Trumpf.

About riskmethods
riskmethods provides companies with a comprehensive supply chain risk management solution for proactive monitoring and assessment of risks in the supply chain. An early warning system for potential risk ensures that proactive steps can be taken to avoid supply interruption, enforce compliance and protect the corporate image. The SaaS solution "Supply Risk Network", which was developed in Germany, combines state-of-the-art technology with cutting-edge provision of risk intelligence, to establish a leading standard in supply chain risk management.