Effective SCRM means monitoring millions of data sources to screen for emerging risks. If you think that sounds like a task that’s beyond human capacity, you’re right—but by also leveraging AI, you can do it. We call it: riskmethods Risk Intelligence™
news articles scanned monthly
global reputable news sources monitored daily
customer & supplier sites monitored daily
real-time risk monitoring
relevancy of alerts / optimized noise reduction
Every day, riskmethods Risk Intelligence monitors – in real time – nearly 300,000 global news sources and nearly a million customer, supplier, and transportation sites and routes for dozens of risk indicators to manage the oceans of data from evolving threats and regulatory changes.
As a result, millions of documents and data points automatically flow into Risk Intelligence daily that it processes and analyzes for relevant events that may impact our customers’ supply chains. We do it all.
Using the riskmethods Duplication Detection Engine (affectionately known as “the DuDe”), Risk Intelligence tries to replicate the way that humans read data and information to identify duplicate entries. It uses machine learning algorithms to scan millions of articles for identical or contextually similar content about the same risk event within a supply chain, so it can eliminate any duplicates from its analysis.
As a result, Risk Intelligence automatically flags and discards hundreds of thousands of duplicate items per month, which reduces the “noise” surrounding an event and increases the relevance of our risk alerts.
Following de-duplication, Risk Intelligence employs the Recommender Engine to assess the remaining information against pre-defined risk-scoring criteria before issuing alerts. But unlike other SCRM solutions, we don’t let our machines do it all.
Our team of Risk Research analysts has been continuously monitoring and training Risk Intelligence – 24 hours a day, seven days a week – for nearly a decade. Our analysts rate information and media sources for their relevancy and continuously teach Risk Intelligence what’s most important to our customers.
Millions of data points later, Risk Intelligence now requires less human supervision but continues to deliver alerts that are 99.98% relevant to our customers.
Our Risk Research analysts ensure it’s exactly what you need to know. Informed by their technical acumen and unique cultural and regional expertise, we blend artificial intelligence with human intelligence to provide our customers with media-based alerts that are highly informative, relevant, and reliable.
And to provide the most holistic view of risk in the market, Data Experts from Risk Intelligence also curate and integrate hundreds of additional risk indicators across a variety of structured risk data sources. Via our API, riskmethods provides over 180 risk indicators from a combination of content data partners, customer risk data (e.g., supplier KPIs and metrics) from enterprise ERP and SRM systems, and supplier-provided data, such as supplier scorecards or third-party risk assessments.
Our primary language is risk, and we let our time-tested, customer-validated risk indicators do the talking. We take great care to reduce the level of “noise” in our alerts, so that you receive only the most relevant reporting. Building confidence using both an internal and external views validates risk management with customers and other business stakeholders. So at riskmethods, we want to ensure the right people have the right information at the right time.
