RISK INTELLIGENCE… more than event monitoring

riskmethods’ Risk Intelligence solution delivers the insights needed to profile, monitor and reduce the risk in your supply chain. Through the integration of best-in-class third-party content and active monitoring of the cloud, the risk profile of each object in your supply chain is kept current and all threats are identified enabling faster crisis response and proactive risk mitigation.

But what makes it different and better? The answer lies in our broad coverage and our high-degree of relevance – We cover all types of risk and we believe less is more! With riskmethods you only receive alerts that are impacting your supply chain!

 

Is monitoring risk really so hard?

There is a large and ever-growing amount of data, noise and filtering through it to uncover the few relevant insights is a herculean task. There are over a billion sources of content in the cloud, and with a comprehensive view of risk requiring 50 to 100 risk indicators per supplier (not to mention their supply chains), the enormity of the problem begins to take shape. One of our customers tells the story of a 20-person team working for 6 months to create a one-time snapshot of their tier-1 supplier risk exposure. Yes, it’s hard work.

 

How does Risk Intelligence work?

The keys to delivering the highest standard in risk information are

 

  1. Broad Coverage: riskmethods employs a number of techniques to screen billions of unstructured websites for potential content as well as integrating industry leading sources of risk information
     
  2. Automated Sifting: Artificial intelligence assesses vast amounts of data, prioritizes important information and cancels out the rest.
     
  3. Human Verification: Some alerts are for complex and unfolding scenarios. When appropriate, a team of risk analysts’ exams an alert before it’s sent, preventing false alarms and enriching alerts with information specific to your supply chain such as the impact zone.
     
  4. Actionable & Learning: Risk alerts are delivered to the relevant people by email and in-app notifications. Risk mitigation activities are immediately initiated for severe situations, and research and follow-up are initiated for less immediate events. Receivers of alerts provide feedback to train the AI engine.
     
  5. Dissemination: Risk information is updated in the scorecard so that all stakeholders have visibility and stay up to date as mitigation plans are initiated.

Too much information, even pertinent information, derails any risk management initiative, making noise cancellation a critical ingredient of a successful risk management program.

 

Best In-class Content: Bundled and Affordable

To provide you with truly holistic and comprehensive supply chain intelligence, we’ve formed partnerships with leading providers of global risk information. We’ve done all the hard work to determine the best sources, how to interpret them and how to integrate into a broader risk framework.  Pre-integrated data sources from reinsurance companies, credit rating agencies, sanction check, geopolitical data and sustainability ratings providers are available out of the box. And because we are leveraging this information across our customer-base, this content is more affordable than consuming each piece via individual relationships with the content providers.

 
The final piece to this “intelligence” puzzle is your insights. The addition of your internal risk knowledge and perspective ensures a comprehensive view of risk that aligns with the nuances of your supply chain and business.

As a result, you are equipped with an up-to-date risk profile that enables you to both pre-empt and reduce risk as well as to have first-responder status for crisis detection to minimize the impact of unpredictable events.

No matter how full my inbox is, if I receive a riskmethods Email Alert I must review it immediately!

Ralph Carlton, Director Global Sourcing, Moen

With this comprehensive Risk Intelligence solution you will

Have Unique Insights: Know something that no one else does

Having an indication of a possible disruption can make the difference. There are “early warning signals” that something may be amiss before there is an actual risk event. These signals can manifest into larger problems allowing you to proactively address a crisis situation before it even unfolds, putting your organization in the position to capitalize on a risk event and turn it into a competitive advantage.

Enjoy an engaged Stakeholder Community: Active “Noise cancellation” to focus on relevant situations

We live in an information era with billions of data points being produced every day. The challenge is to filter out “the noise” and find the relevant information at the right time. At riskmethods we focus on saving your valuable time and providing you only with the information you must know – fully automated, customized, intelligence. This information comes in 1 alert directly to your mobile device eliminating the need for further web research.

Achieve Competitive advantage: Be the first to know

riskmethods’ Risk Intelligence enables you to react quicker than anyone else in the market. If an unforeseen event such as an earthquake hits, only the responsible individuals in your organization will be alerted and informed which of your suppliers, sub-suppliers, production sites, etc. are affected.  This time advantage gives you the opportunity to become a hero by protecting your company revenue and reputation.

Interview with Kasia Katrycz, Director of Risk Intelligence at riskmethods

Kelly Barner from Buyers Meeting Point interviews Kasia Katrycz, Director of Risk Intelligence about her role at riskmethods.

Hear about how Risk Intelligence works and get more information about:

  • Filtering process of the riskmethods solution that harnesses the 'ocean' of information
  • Role of artificial intelligence and machine learning
  • Interaction between human beings and machines that make it possible to isolate relevant risk indicators
  • Impact of the supplier size and the availability of information
  • riskmethods QA process