RapidRatings, an SAP PartnerEdge Partner with an app extension into SAP Ariba Supplier Risk, is a strong advocate of analyzing, building, and maintaining supplier financial health. Why?
Businesses with poor financial health are more vulnerable to shocks, particularly unforeseen events with the magnitude and complexity of a global pandemic. On the opposite end, companies with strong financial health will be more likely to continue operating through crises and less likely to fail.
During times of uncertainty, the best strategy to manage and protect your business is to lean into your supplier network and forge relationships through transparency and collaboration surrounding their financial health.