A technology solutions provider, specialising in connecting companies to data, has been selected as the “foundation” of a vendor transparency platform from PwC.
Koverse announced in a statement this week that PwC will be using the Koverse Intelligent Solutions Platform to power its “Know Your Vendor” solution. Koverse’s platform will seamlessly integrate scalable data architecture to unlock true value. With Koverse, PwC will “rapidly develop its innovative solution” and deliver unlimited scalability, cell-level data security and unprecedented performance.
The Know Your Vendor solution fuses PwC’s proprietary experience, algorithms and advanced analytics with Koverse’s technology to handle both structured and unstructured data. Clients will be able to leverage the analytics to better understand supplier networks, vendor risks and most importantly how to mitigate those risks and challenges in a cost-effective way.
PwC is using data to solve a real-world problem, and we’re excited to support their game-changing solution,” said Jon Matsuo, Koverse President and CEO. “Koverse’s rapid solutions development environment enabled PwC to get to market in a fraction of the time it would have required otherwise. The old methods of vetting and monitoring suppliers only scratched the surface of the problem facing companies. Using Koverse’s technology and sophisticated data science expertise, PwC applied their own domain expertise and developed an elegant and powerful way for companies to easily understand what’s happening throughout their entire supply networks, including visibility into a company’s vendors’ vendors. PwC’s use of Koverse is a perfect application of our scalable, secure and high-performing technology.”
“As global supply chains increase in complexity, so does an organization’s exposure to risk,” said Jeff Hunter, a Principal with PwC’s Risk Assurance group in the U.S. “Multiple entities can become involved in the provision of a single service, and organizations are increasingly being held responsible for understanding these downstream relationships. Many companies perform due diligence on their direct vendors, but there is an ever-important need to extend this oversight to their full supply chains. With Koverse’s technology as a foundation, we were able to add PwC’s exclusive and propriety expertise to offer a monitoring and management solution that conducts link analysis on large sets of disparate data, and turns that data into valuable information using sophisticated algorithms and advanced analytic processes. It allows business leaders to detect and quantify risk and make decisions with confidence.”