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LEEDS, England—Proactis Group Ltd. has launched a risk management platform to help organizations mitigate exposures from their suppliers.
The Cloud Supplier Risk Management Platform aims to help organizations address supplier risks by using cloud computing technology to manage suppliers' performance, the Leeds, England-based software and services provider said in a Tuesday statement.
The platform uses a software-as-a-services cloud delivery infrastructure and provides visibility of each supplier's performance history, qualifications and capabilities, certifications and compliance, and insurance and disaster recovery plans, according to the statement.
“Once-a-year supplier risk assessments don't do the job, and as they take too much time and cost, they are often left incomplete,” said Simon Dadswell, director of marketing for Proactis, in the statement. “Equally, paying attention to only the top 10% to 20% of your suppliers doesn't cover enough of the potential risk, and focusing only on initial supplier qualification doesn't take into consideration the rapid rate of change in risk exposure that organizations face in today's tough business climate.”
Proactis' Cloud Supplier Risk Management Platform provides a supplier directory with a record of insurance policy documents, standardized questionnaire templates, and controls and alerts that assess risks associated with changes, among others.