London, 14th May 2024 — The Smart Cube (a WNS company) a global provider of strategic research and analytics solutions, today announced the latest updates to its Supplier Risk Intelligence solution.
Supplier Risk Intelligence (SRI) is an end-to-end risk monitoring and management solution – the most comprehensive of its kind – providing a holistic view of supplier risks, including financial, operational, legal and ethical, and labor and environmental aspects. The solution combines artificial and human intelligence to track supplier risks on an ongoing basis and deliver actionable insights. As a result, businesses get advanced visibility and understanding which allow them to take the right actions at the right time.
The latest features include:
1. Executive briefing emails:
Clients can subscribe to tailored automated executive briefing mails at their preferred frequency (weekly, fortnightly, monthly, or quarterly) to receive an overall summary and high-level view of latest changes in supplier and category risk events for their portfolio.
2. Updated risk categorisation and refined risk scoring methodology:
Suppliers are now sorted into five risk categories, from negligible to severe, providing better visibility and allowing teams to triage risks more efficiently.
A refined SRI risk scoring methodology ensures more robust and realistic scoring against key risk factors. High-risk events are presented more prominently, allowing quicker identification and mitigation.
3. Automated supply disruption alerts:
Clients receive automatic category, logistics and country disruption email alerts, triggered by events such as natural disasters or raw materials shortages, identifying their affected suppliers and sub-tier suppliers.
4. AI-powered risk summaries:
Risk summaries on the SRI platform will be automatically generated using Generative AI and NLP, ensuring insight provided is continuously updated and reflective of latest events and changes.
5. Updated APIs:
Based on rising client demand for easy access to more relevant information such as newly added suppliers, categories and countries.
Sayan Debroy, Head of Supplier Risk Intelligence at The Smart Cube, said:
“Our latest advancements in the Supplier Risk Intelligence solution represent a significant leap forward in empowering procurement teams to navigate the complexities of supplier risks effectively. By harnessing the speed and efficiency of AI-enabled insights and pairing these with our analysts’ expertise, we deliver a comprehensive solution that offers unparalleled visibility and actionable intelligence. These enhancements, driven by client feedback, underscore our commitment to continuous improvement and delivering value to our clients.”
The Smart Cube can now also be found on the Third Party Risk Association (TPRA)’s list of vendors.
To find out more about how Supplier Risk Intelligence can help procurement teams proactively identify, monitor, and manage supplier risks to ensure business continuity and create value, visit The Smart Cube’s website.
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About The Smart Cube
For leading businesses around the world, The Smart Cube, a WNS company, is a trusted partner for high performing intelligence that answers critical business questions. We work with our clients to figure out how to implement these answers, faster, through custom research, advanced analytics and best of breed technology. We transform data into insights – enabling smart decision-making to improve business performance at the top and bottom line. We call it: Intelligence. Accelerated.
Together with WNS Procurement, we deliver world-class solutions in procurement and supply chain advisory, managed services and digital transformation. We combine expert resources with leading technologies, merging human and artificial intelligence to deliver innovative solutions, enabling our clients to achieve their business, financial and sustainability goals and outperform in their markets.
The Smart Cube’s clients include a third of the companies in the FTSE and Fortune 100, primarily in the CPG, Life Sciences, Energy, Chemicals, Industrials and Professional Services sectors. We serve our global client base from our offices in the UK, the USA, Switzerland, Romania and India.
WNS Procurement
WNS Procurement is a market leader in procurement and supply chain advisory, managed services and digital transformation. It has the combined market differentiation of Denali, The Smart Cube and OptiBuy.
Procurement teams of the Global 2000 across industries partner with WNS Procurement to become the top value creator in their business by implementing transformational operating models that are category-driven, insights-led and digitally enabled.
We meet our clients where they are: assess, co-create and operate their end-to-end procurement ecosystem by implementing fully customized, next-generation operating models.
Our solutions are powered by Artificial Intelligence (AI) and Human Intelligence (HI) – combining expert resources with leading digital technologies to help Procurement drive greater stakeholder value.
https://www.wnsprocurement.com/
