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Mitigating Financial, Liability and Cybersecurity Risks with Avetta One

Track and manage the Financial and Cyber health of your Suppliers while monitoring Liability Risks in your supply chain
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Extended supplier networks can be susceptible to several types of risks in the form of financial viability, liability, and cybersecurity. Managing and tracking the hidden liability risks and financial health of every supplier in complex supply chains that extend across borders can be a difficult target to achieve. And, when it comes to suppliers’ financial failure, a single instance is one too many. This makes tracking and managing liability risks and supplier financial health a priority for modern enterprises today.

  Similarly, the indispensability of cyber resilience in modern, complex supply chains also cannot be overstated. Without proper cybersecurity measures and information protection controls in place, companies risk millions of dollars’ worth of intellectual data and confidential company information.

The Importance of Constantly Monitoring Liability Risks, Supplier Financial Viability and Cyber Resilience

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Avetta One

An end-to-end solution for mitigating financial viability, liability and cybersecurity risks


At Avetta, we understand that every supply chain is unique and comes with a diverse range of risk factors. This makes creating a holistic compliance framework a necessity for businesses. This is where Avetta One provides answers.
Avetta One is the industry’s largest Supply Chain Risk Management (SCRM) platform which comes embedded with industry-leading capabilities to help companies track suppliers’ insurance in real-time through automated alerts. This ensures that you are always covered from all liability risks involved. The platform also allows companies to conduct financial health checks for each supplier automatically through Experian integration. In addition, the platform comes with distinct features that can help companies bolster their supply chain cyber resilience.

Financial Risk Mitigation

Evaluation of supplier groups

Whether you’re concerned about one supplier or all of them, the Avetta Experian integration makes analyzing your supplier base easy. During the process, each supplier receives specific ratings and key metrics unique to their business.

Filtering of risky accounts

With the data at your fingers, it’s easy to include supplier financial health into the qualification process. Keep your standards high and your risks low by building appropriate compliance rules into your supplier management plan. 

Automated reviews

The financial data collected by Experian is refreshed at regular intervals, so you can feel confident you’re receiving an up-to-date look on all of suppliers.

Real-time insights

While a quick snapshot is nice, we understand the need to expand your visibility beyond just a few scores. Detailed reports are available on demand in case the summary scores do not provide the insights you are looking for.

Liability Risk Mitigation

End-to-end coverage

Proactively manage risk by ensuring your company is covered and suppliers have sufficient insurance coverage.

Complete support

Avetta does the heavy lifting of collecting, verifying, and monitoring supplier insurance for an efficient risk management process.  

Granular visibility

Expose the insurance gaps that exist within your supply chain and take the necessary actions to protect your company from unnecessary liability risks.

Cybersecurity Risk Mitigation

Stringent security controls

Leverage our supplier risk assessment offering that evaluates vendor adherence to critical security controls like the use of communications protocols (email, FTP), data management, and IT system management.

Cybersecurity risk assessment

Schedule cyber assessments at customized intervals and flag any cyber risks to trigger notifications and risk workflows. Take a proactive approach towards cybersecurity, by provisioning for cybersecurity audits through trusted partners to create a safe and secure environment for the growth of your business.

Identify threat vectors

Assess your suppliers’ digital security and risk management practices to identify vendors that do not have adequate security measures.

Training

Ensure that your suppliers have been trained to use sensitive information and protect it with appropriate tools.

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Our Approach



Financial Viability Risk Mitigation

Testimonial

The greatest benefit of the Avetta API is simple: Automated Risk Mitigation. We are able to prevent continued use of suppliers that are non-compliant with our business rules, based on the daily feeds from the Avetta platform.

-Sean Murphy
Liability Risk Mitigation

Testimonial

Supplier Prequalification is flexible and configurable. We can define our own compliance criteria and quickly see which contractors are qualified, which are not, and why.

-Nick Wilkerson

Manage Risk for Any Supplier

Built with complex supply chains in mind, Avetta organizes and keeps all of your supplier documentation up to date, accurate, and available at any time.

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Manage your supplier relationships, evaluate compliance status and ensure worker safety, all in one application.

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Why Avetta?

The Avetta SaaS platform helps clients manage supply chain risk, and their suppliers, to become more qualified for jobs. For the hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.
 
For suppliers in our network, our audit and verification services help lower their safety incidents rate by 29%. As a result, about 50% of members find additional job opportunities within the first year of joining. In addition, our suppliers receive privileged access to the Avetta Marketplace, where dozens of partners offer special discounts for business services like insurance and work gear. Avetta serves more than 500 enterprise companies and over 125,000 suppliers across 120+ countries.

Upcoming Events
May 22–25
Orlando, FL
Avetta at ISM
May 26
1 pm ET
Webinar
Contractor Classification
May 26
2 pm ET
Webinar
Hidden Risks or Safety Risks Most Likely to be Missed
June 1
2 pm ET
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The True ROI of Safety | Building the Case for Greater Safety Investment
June 9-10
2022 NSC Midwest Safety Conference & Expo
June 14
1 pm ET
Webinar
New SEC Proposals for ESG and Climate Disclosure
June 22, 2022
Virtual
Supplier Summit
June 23
1 pm ET
Webinar
Safety Culture Title TBD
June 26-29
Chicago, IL
ASSP Safety 2022 Conference + Expo