The Smart Cube (a WNS company), a global provider of strategic research and analytics solutions, today announced a host of new functionalities for its Supplier Risk Intelligence solution, to help businesses gain better visibility into risks long before suppliers are directly affected, and mitigate their impact more effectively.
The Smart Cube’s Supplier Risk Intelligence is an end-to-end risk monitoring and management solution – the most comprehensive solution of its kind – providing a holistic view of third-party risks, including financial, operational, legal and ethical, and human and environmental risk metrics. The solution leverages both artificial and human intelligence to track supplier risks on an ongoing basis and deliver actionable insights, allowing businesses to take the right actions at the right time.
The company has seen substantial growth in its Supplier Risk Intelligence solution, with the number of customers increasing fourfold in 2022 alone, as businesses seek to better understand their third-party risks and extended supply chain challenges.
Following significant upgrades announced last year – including AI-powered dynamic risk scoring – the solution’s latest features include:
● Category risk dashboards – Informs customers of disruptions happening within a particular industry, geographic region or logistics node long before this affects the tier one suppliers themselves, allowing customers to plan ahead and build business resilience
● Action planner – Allows customers to collaborate with internal as well as external stakeholders to mitigate the risks in an effective and time bound manner with everyone in the loop
● Updated risk deep dives – Leverages best practices within financial due diligence and forensic analysis to give customers better understanding of risk exposures and their impact
● REST APIs upgrade – Allows client S2P/ERP systems to ingest risk insights from The Smart Cube’s cloud-based platform Smart Risk. This way customer users can get easy access to actionable risk insights directly in their internal systems, which ensures that business decisions are better informed
With these expanded capabilities in place, The Smart Cube’s Supplier Risk Intelligence solution provides a deeper visibility into third-party risks than ever before and significantly enhances customers’ ability to respond to risks effectively.
“In recent years, businesses have found their supply chains becoming increasingly disrupted by major macroeconomic events, which have affected multiple industries and entire regions in some cases,” said Sayan Debroy, Head of Supplier Risk Intelligence at The Smart Cube. “What were once isolated incidents have now become a pattern of ongoing disruption. However, most businesses remain unprepared when it comes to tackling major disruptions due to limited visibility of suppliers and their supply chains.
“As such, it’s imperative for organisations to modify their supply chain strategies so that unprecedented third-party risk exposures are considered. For that reason, we have decided to supercharge risk management by expanding our Supplier Risk Intelligence capabilities, enabling us to provide customers with 360o continuous risk intelligence, making it the most comprehensive solution of its kind.”
For all businesses – whether they have a large supplier base and complex supply chains or a small base with straightforward supply chains – managing supplier risk is a challenging task. The Smart Cube’s Supplier Risk Intelligence solution can help companies to proactively identify, monitor, and manage third-party risks to ensure business continuity, even in difficult periods of time. To find out more, visit The Smart Cube’s website: https://www.thesmartcube.com/solutions/procurement-supply-chain/supplier-risk-intelligence/
The Smart Cube was acquired by WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, in December 2022.
