SAP Ariba is to offer companies access to additional insights as part of its supplier risk solution, enabling companies to track more than 200 risk types and more effectively manage their costs.
The new insights will cover factors such as social, environmental, and sustainability and will be offered in collaboration with new partners such as EcoVadis, a leading provider of sustainability, risk and performance ratings for global supply chains, and Verisk Maplecroft, a principal source of global risk analytics and research.
By enabling a standard programmatic interface, SAP Ariba says it will equip risk managers to bring increased sophistication to their programs, using SAP Ariba’s supplier risk solution as a platform.
“Evidence is mounting that environmental, social and governance factors can create long-term performance advantages, and in opening access to additional inputs on this front, SAP Ariba can help companies gain this edge,” said Tony Harris, Vice President & General Manager, Supplier Management Solutions SAP Ariba.
“Our supplier risk solutions deliver the information and transparency needed to effectively manage risk across the entire source-to-settle process and in addition to lowering costs and increasing efficiencies, enable companies to create a positive impact on the world.”
In a release, SAP Ariba said that by investing in the expanded inputs, companies will gain the ability to identify and understand supplier exposure across the full spectrum of global sustainability risks and leverage performance data to determine how well they manage their operations against these issues.
“Rapid economic changes and increased regulations have combined to make business riskier than ever. And much of this risk lies in the supply chain,” said Mickey North-Rizza, Vice President of the Enterprise Applications and Digital Commerce research practice at independent research firm IDC.
“To protect themselves, companies need a complete view into every supplier they work with along with real-time insights so that they can detect and mitigate potential risks before they negatively impact their operations.”