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Avetta Industries Manufacturing

5 Steps for Building a Resilient Supply Chain

Submitted by s.nelson on Tue, 09/06/2022 - 14:47

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5 Steps for Building a Resilient Supply Chain

Despite your best efforts, no supply chain will be without a disruption. Any one of your partners could experience operational delays, accidents, sourcing errors, or any other number of events that will affect your company. While you cannot control those situations, you can prepare for them, minimize their impact, and get your supply chain up and running again. Your preventative actions now will determine your supply chain resiliency going forward.

  1. Research Your Partners

    Like any relationship, knowing as much as you can about a potential long-term partner will help avoid headaches in the future. Knowing that they have the same goals in terms of safety, deliverability, and risk will bring stability to the entire supply chain. However, you cannot know these things unless you do the necessary research. Alternatively, you can partner with a service provider like Avetta to vet supply chain partners for you. Avetta helps reduce the cost and administrative burden associated with contractor prequalification, document management, auditing, employee-level qualification and training, insurance verification and risk management.

  2. Decide on Acceptable Risk

    Before making a decision on your supply chain partners, it’s important to know how much risk you are willing to expose yourself to and how much risk each supplier, vendor, and contractor adds to your risk profile. More importantly, decide on what your organization can do to reduce those risks. For instance, diversifying your supply chain can help mitigate the impact when a supplier is disrupted. As an example, if one supplier can’t deliver because of a natural disaster, then your organization can rely on a backup supplier until your primary supplier is operable again. Every supplier adds risk, but understanding the maturity of the supplier and their capability to manage threats will help you decide if the added risk is worth working with them.

  3. Be Honest in Alignment

    It’s easy for buyers and suppliers to be agreeable with each other’s demands when there’s a chance of doing business. However, being too agreeable sacrifices the acknowledgement of risks for the sake of the partnership. Similarly, taking hardline stances on demands can make a supplier hide risks so that they don’t lose the business. Instead, both parties should communicate openly and honestly, identifying risks along the way and discussing solutions to handle those risks. This kind of alignment will drive more positive outcomes when negative events occur.

  4. Budget for Risk

    When accepting bids from suppliers, understand that the lowest upfront cost is not always the best choice. Suppliers may be budgeting for risk in their bid. As such, discuss risk openly with suppliers, and identify potential threats so that you can decide if you’re over-paying for risk mitigation or if the supplier has factored risks into the bid at all.

  5. Keep Learning, Evolving, and Communicating

    No supply chain is perfect, and you will eventually experience a disruption. Don’t let these events be a complete negative – learn from them to make your supply chain more resilient. Document the cause of the disruption and how you and your partners responded. Learn where the weaknesses are and develop best practices to bolster those areas. Then share your findings with your supply chain. Just because you’re developing a plan doesn’t mean your partners are. Use the power of social knowledge to reduce the risk profile all along the supply chain.

Learn more about Supply Chain Risk Management and how Avetta Services can help you to reduce risk, improve safety performance and build a sustainable supply chain. Visit Avetta.com today, email [email protected] or call 844.633.3801.

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4 minutes
Avetta Marketing

4 Reasons to Assess Supplier Financial Stability

Submitted by s.nelson on Mon, 08/15/2022 - 20:25

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4 Reasons to Assess Supplier Financial Stability

All business-supplier partnerships present risk. However, risk levels vary with every company. While some contractors and suppliers may be critical to your operations and present a large amount of risk, others play a smaller role and present less of a threat to business continuity. Understanding where potential weaknesses or vulnerabilities lie, and being equipped to manage each of them, presents tangible benefits. 

Gathering and monitoring key financial information on suppliers and contractors such as revenue, financial references, continuity plans, and third-party ratings is essential to minimize risks introduced to the business when using a third-party company. 

Why should companies assess supplier financial stability? 

By minimizing financial risk, you increase business confidence 

Hiring a contractor or supplier typically requires heavy up-front investment, which can often restrict cash flow and a company’s ability to pursue other potential sources of revenue. Counteracted by a strong return on investment, a projects funding can be compromised if even one crucial supplier fails to deliver on a predetermined contract. To minimize financial risk, companies should be proactive and assess the financial stability of their partners in advance to minimize financial risk and increase business confidence with every project. 

By identifying where you need to diversify suppliers, you mitigate skills/expertise risk 

Putting every egg in one basket and relying on one supplier for business-critical products can be detrimental to business. If a supplier is no longer able to deliver on the contract, the business on the receiving end may be incapable of producing its own goods or services. Conversely, if the firm can source a specialized product or service from several places, it increases flexibility and responsiveness to unforeseen events including: financial upsets, global economic shifts, or natural disasters. 

By strengthening links in the supply chain, you reduce delays and save time 

In a supply chain, one weak link can disrupt the flow of goods and services, creating a “domino effect” for all suppliers and customers. When supplier financial stability is assured, less time is dedicated to managing or replacing one critical but unreliable supplier. This makes it easier for businesses to effectively manage suppliers and projects downstream. 

By mitigating “delivery” risk, you improve customer service 

When a business can meet its project deliverables on deadline, it satisfies not only its investors and project stakeholders, but also its customers. Reducing time and delays leads to happier clients, better reputations, new and/or repeat business, effective brand building, and more secure revenue streams. 

To minimize risk, it’s essential for companies should assess supplier financial stability. Gathering key supplier financial information such as revenue, financial references, continuity plans, and third-party ratings ensures that threats introduced to the business are minimized when partnering with a third-party firm. Learn more about how Avetta can help with your contractor verification.

For more information about Avetta's Contractor Management software, Contractor Prequalification or Supply Chain Risk Management, visit avetta.com, email [email protected] or call 844.633.3801.

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3 minutes
Avetta Marketing

Avetta One Is Helping Companies Uncover and Mitigate Hidden Financial Risks in the Global Supply Chain

Submitted by bhupendra.rajp… on Sun, 08/14/2022 - 10:19
New Avetta Business Risk takes global approach by pulling financial information & business data from thousands of sources to drive supply chain resilience

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Risk

OREM, Utah, and HOUSTON—Aug 14, 2022—Like finding a needle in haystacks all over the world, Avetta®, the leading provider of supply chain risk management (SCRM) software, is helping companies uncover and mitigate hidden financial and business risks in their global supply chains. New Avetta Business Risk in the Avetta One platform goes beyond checking a credit score or financial report, it closely monitors suppliers’ credit strength, financial health, legal proceedings, adverse media, political sanctions and more—all in real-time.  

Nearly 48% of all risk events started from supplier financial risk, making it the highest risk factor for the fourth year in a row. 

Avetta Business Risk is more than a credit score or a single financial measure in one country. It pulls financial information from 200 data and 30,000 media sources globally, providing information on financial health, payment history, liens, bankruptcies, legal proceedings, media reports of criminal activity/investigations and sanctions data. The data is monitored and updated in real-time.  

The system alerts companies when a risk factor changes with a current supplier and provides the most comprehensive way to evaluate a potential supplier’s business and financial risks during the procurement process. The Avetta platform also enables organisations to source new suppliers with lower risks to ensure business continuity and supply chain resilience. 

The Avetta One™ Platform is a single-source solution for managing operational, reputational and regulatory compliance risks. The platform reduces risks in safety, liability, sustainability, workforce, cybersecurity and financial areas for corporations, suppliers, contractors and their workers. 

“Supply chain risk is at an all-time high while risk tolerance is at an all-time low, particularly as many anticipate an economic downturn,” said Taylor Allis, chief product officer at Avetta. “The addition of Business Risk, along with other recent updates around ESG, worksite safety and subcontractor management, makes Avetta One the industry’s only comprehensive, enterprise risk supply chain management solution.” 

Avetta One delivers an unprecedented view of risks through multi-risk analytics, supplier risk trends and supplier performance benchmarking. The platform uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures. The analytics software includes customisable, interactive dashboards to gain insights that help build supply chain confidence. 

Global Approach to Financial Risk 

Avetta Business Risk is powered by Creditsafe, combining global financial data from thousands of resources around 46 risk factors with Avetta’s comprehensive risk profiling system. It provides both a business specific risk score and a global business risk grade. Clients can drill down on any specific risk factor to receive more information when making procurement and supplier decisions.  

Avetta Business Risk provides key credit and financial information on nearly 400 million companies in 165 countries with global, real-time data monitoring and alerts to immediately make educated procurement decisions for different contractors or vendors. 

To learn more about Avetta Business Risk and Supply Chain Management Multi-Risk Platform, visit Avetta’s website to view the Supply Chain Survival Toolkit.  

Addressing other hidden risks 

As part of the Avetta One Platform, Avetta has also bolstered companies’ abilities to view and manage hidden risks in safety, liability, sustainability, workforce and cybersecurity over recent months with major enhancements to its platform. These improvements ensure companies have a resilient and safe supply chain in all areas.  

The recent additions include:  

  • A powerful Environmental, Social and Governance (ESG) risk mitigation solution that allows companies to reach their sustainability goals faster and with more confidence. The new solution provides a holistic view of ESG status across the entire supply chain. Avetta is the only supply chain company to provide an innovative ESG scoring system that considers individual company goals and global standards in 20 industry trades. 

  • Workforce Management, the most comprehensive solution to onboard, profile, verify, train and manage site access for supply chain workers. 

  • Achieving four major ISO standards and the SOC 2 Type II certifications 

  • Integration with Coupa’s Business Spend Management System. With the Coupa integration, clients can see Avetta compliance status alongside other supplier information within the Coupa Risk Aware module, allowing companies to create custom workflows, such as declining purchase orders from non-compliant suppliers.  

  • Subcontractor Management, giving clients visibility into their connected suppliers’ subcontractors – both high-spend and low-spend contractors – that may pose additional costly risks when coming onto a client’s site. 

About Avetta 

Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For hiring clients in our network, we offer the world’s largest supply chain multi-risk management network to manage supplier safety, sustainability, worker competency and performance, business and financial risk. 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries. 

Visit https://www.avetta.com/ for more information. 

PR Contact: 
SnappConner PR 
Mark Fredrickson, +1 801-806-0161 
[email protected] 

Avetta 
Kendra Lamer  
[email protected]   

6 minutes
Avetta Marketing

Avetta One Platform Certified as Coupa Business Spend Management Ready.

Submitted by bhupendra.rajp… on Fri, 04/08/2022 - 00:43
Avetta One is now available in the Coupa App Marketplace, extending Coupa’s platform, allowing Coupa customers to view supplier compliance status in real time, helping companies manage operational, reputational and regulatory compliance risks

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Coupa press release

OREM, Utah/HOUSTON—April 21, 2022—Avetta®, the leading provider of supply chain risk management (SCRM) software, today announced it will offer Avetta Supply Chain Risk Management services in the Coupa App Marketplace, connecting businesses with certified, pre-built solutions. Coupa Software (NASDAQ: COUP) certified Avetta One™ for use within the Coupa Business Spend Management (BSM) Platform, its cloud-based platform that empowers companies around the world with the visibility and control they need to make smarter spending decisions.

Using the Avetta app, Coupa customers can check supplier compliance status in real-time within the Coupa platform. The integration helps companies manage operational, reputational and regulatory compliance risks by identifying high-risk vendors within their supply chain. Avetta provides critical decision-making data that will help decrease risk events within an organization.

With the application, procurement, safety and sustainability executives using the Coupa BSM platform can see risks in their supply chain inside Coupa. The Avetta solution provides the following benefits:

  • For clients, it provides a unified platform that manages risk across safety, liability, workforce qualifications, sustainability & ESG, diversity, financial health and cybersecurity programs.
  • For suppliers, it reduces time and cost by demonstrating their superior business qualifications to many clients from a single system.
  • For workers, it offers a central workforce portal to digitally store their required job roles, training, competencies and certifications.

Members on the Avetta network outperform industry standards and improve on safety measures 7-8% per year after joining, reducing administrative expenses on average by 75%.

“With operational, reputational and regulatory compliance risks throughout the supply chain, the need for Avetta’s holistic view of the entire supply chain is imperative now,” said Roger Goulart, executive vice president of Business Development and Alliances at Coupa. “We’re proud to have Avetta on the Coupa App Marketplace to give our customers even greater visibility into their entire supply chain to reduce a multitude of critical risks.”

As a certified CoupaLink solution, the Avetta app meets the requirements established by Coupa through its CoupaLink Partner Program and is available in the Coupa App Marketplace. The CoupaLink Partner Program enables software partners to build complementary solutions that easily connect into the Coupa platform. Customers benefit by discovering and connecting solutions to optimize their business spending and minimize business risk while reducing the cost of third-party software integration.

“Connecting Avetta technology into the Coupa Business Spend Management Platform gives our customers streamlined supply chain risk management data to make decisions to decrease risk throughout the supply chain, improving safety, sustainability and business continuity,” said Jitesh Chanchani, SVP Alliances at Avetta. “We are proud to be part of the Coupa App Marketplace and a trusted CoupaLink technology partner. We look forward to our relationship with Coupa to further help customers transform their supply chain operations.”

For more information on Avetta and how it can reduce operational, reputational and regulatory compliance risks while driving down administrative costs, visit the Coupa App Marketplace at marketplace.coupa.com. To learn more about Avetta One, visit https://www.avetta.com/avetta-one.

About 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries.

Visit https://www.avetta.com/ for more information.

Coupa, Coupa Business Spend Management (BSM), CoupaLink, and all Coupa logos are trademarks or registered trademarks of Coupa Software, Inc. All rights reserved.

PR Contact:
SnappConner PR
Mark Fredrickson, +1 801-806-0161

[email protected]

Avetta
Indy Chakrabarti, +1 281-636-8750
[email protected]

5 minutes
Avetta Marketing

Avetta EHS and Sustainability Expert Wins 2022 Pros to Know Award for Enabling Sustainable and Ethical Supply Chain Practices

Submitted by bhupendra.rajp… on Thu, 03/31/2022 - 00:58
Supply & Demand Chain Executive recognizes Michael Ford for developing and implementing programs that help companies reach their safety, sustainability and ESG goals

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Avetta EHS and Sustainability Expert Wins 2022 Pros to Know Award for Enabling Sustainable and Ethical Supply Chain Practices

OREM, Utah/HOUSTON — March 31, 2022Avetta, the leading provider of supply chain risk management software, announced today that Michael Ford, the company’s Global Lead of Environment, Health, Safety and Sustainability, was named a 2022 Pro to Know by Supply & Demand Chain Executive.

Ford was recognized for developing and implementing Avetta’s global supplier evaluation programs. The programs help organizations facilitate increased transparency and assurance across their supply chains by applying sustainability management and risk mitigation to meet their Environmental, Social and Governance (ESG) objectives.

The Pros to Know award recognizes outstanding executives whose accomplishments offer a roadmap for other leaders looking to leverage their supply chain for competitive advantage.

Ford is passionate about the development and delivery of sustainable and ethical supply chain programs and educating the industry on the topic. At Avetta, he has: 

  • Developed and implemented global audit and compliance programs in a wide range of industrial sectors, including construction, manufacturing, mass transit and the development of industry-wide safety passport programs.
  • Implemented supply chain assurance programs and risk strategies in developed and emerging economies, including West Africa, Southeast Asia, APAC and throughout Europe.
  • Provided a more holistic overview of safety performance by analyzing leading indicators to ensure clients can evaluate potential suppliers based upon their multi-disciplinary capabilities and business capacity, applying a supplier life-cycle approach based upon supplier due diligence—pre-contract award, work delivery and post-work analysis.
  • Implemented programs to mitigate slavery and human trafficking within the extended supply chain.
  • Developed a global sustainability program that provides a range of learning and support programs that simplifies business expectations and explains how companies can implement better working practices, improve human rights and reduce their environmental impact, irrelevant of their business size. 

In January 2022, the company launched Avetta One, the first truly unified supply chain risk management platform for identifying and mitigating safety, liability, sustainability, workforce, cybersecurity and financial risks. Avetta One helps corporations, suppliers, contractors and their workers through contractor prequalification, document management, auditing, employee-level qualification and training, insurance verification and business intelligence. Within the platform is a powerful sustainability and ESG risk mitigation solution that allows companies to reach their sustainability and ESG goals faster and more confidently. Avetta is the only supply chain company with an ESG scoring system that considers individual company goals and global standards in 20 industry trades.

When people hear sustainability, they often picture recycling bins and projects promoting clean air. However, sustainability includes caring for people just as much as the planet—and Michael does just that,” said Danny Shields, VP sustainability and risk at Avetta and previous recipient of a Pros to Know award. “Global supply chain networks are increasingly vulnerable to widespread human rights violations such as child labor, forced labor and human trafficking. Ford has built robust supplier due diligence measures into Avetta One that address the growing prevalence of modern slavery in supply chains and help eliminate the root causes of these human rights violations.”

Ford has also written many thought leadership articles to better educate companies and supply chain professionals.

“When I look back at past Pros to Know winners, I see many individuals who accomplished a lot of great achievements. But this year’s winners are reinventing what it means to be a supply chain professional. This year’s winners are intuitive, adaptive, smart and continue to push the envelope when it comes to everything supply chain-related,” says Marina Mayer, Editor-in-Chief of Supply & Demand Chain Executive and Food Logistics. “We received over 360 nominations this year, the highest number of nominations ever for this award. It’s proof that today’s supply chain professionals are not only doing great things for the supply chain but are also being supported by their teams, peers and partners.” 

To view the complete list of 2022 Pros to Know winners, go to www.SDCExec.com. The overall winner will be announced live at MODEX 2022 in Atlanta.

About 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries. 

Visit https://www.avetta.com/ for more information. 

About Supply & Demand Chain Executive

Supply & Demand Chain Executive is the only supply chain publication covering the entire global supply chain, focusing on trucking, warehousing, packaging, procurement, risk management, professional development and more. Supply & Demand Chain Executive and sister publication Food Logistics are also home to L.I.N.K. and L.I.N.K. Educate podcast channels, L.I.N.K. Live, SCN Summit, SupplyChainLearningCenter.com and more.

Go to www.SDCExec.com to learn more.

PR Contact: 
SnappConner PR 
Mark Fredrickson, +1 801-806-0161 

[email protected] 

Avetta 
Indy Chakrabarti, +1 281-636-8750 
[email protected]

6 minutes
Avetta Marketing

Avetta Subcontractor Management Extends Clients’ Visibility into Risks and Compliance Beyond Primary Subcontractors

Submitted by admin on Thu, 03/17/2022 - 22:45
Avetta’s Subcontractor Management solution allows clients and their contractors to search, add and manage compliance standings of subcontractors; most advanced solution to mitigate unseen subcontractor risks

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Subcontractor Management

OREM, Utah— 17 March 2022—Avetta®, the leading provider of supply chain risk management (SCRM) software, announced today an enhanced Subcontractor Management solution within the Avetta One™ platform. The solution gives clients visibility into their connected suppliers’ subcontractors that may pose hidden risks when coming onto a client’s site. The ability to manage both high-spend and low-spend contractors is easier than ever in the Avetta One platform, a single-source solution for managing operational, reputational and regulatory compliance risks.

According to an Avetta survey, about one third of suppliers use subcontractors. Most organisations can focus only on top-spend suppliers, causing them to miss significant risks with smaller contractors and subcontractors in their supply chain. The 2021 BCI Supply Chain Resilience Report says 59% of disruption in the supply chain comes from smaller contractors, subcontractors or lack of visibility into the supply chain itself.

Now clients can view their supply chain risk programmes to the subcontractor level, observing multi-risk analytics, risk trends and performance benchmarking. Clients can access real-time insights on their subcontractors such as supplier and worker compliance, supplier onboarding progress, safety, financial, cybersecurity, diversity qualifications and sustainability risk by site, location and supplier.

Subcontractor Management provides data driven insights based on industry benchmarking, market trends and predictive recommendations. Data analytics dashboards provide a simple, succinct report on whether prime contractors and their subcontractors are fully compliant, building confidence in their supply chain. With Avetta One, customers and their suppliers improve 7-8% per year on safety measures after joining the network, while customers reduce administrative expenses on average by 75%.

“Our enhanced Subcontractor Management solution helps clients mitigate previously unseen job site risks by extending their compliance programmes to all supplier tiers,” said Taylor Allis, Avetta’s Chief Product Officer. “This solution has the added benefit of ensuring projects are completed on time and gives suppliers a new network feature where they can source their own compliant subcontractors to deliver on large and complex client projects.”

Suppliers can add more contractors to their team by simply inviting other suppliers in network to connect or by inviting suppliers outside the system to join. Avetta facilitates this process, so proper client requirements are met before subcontractors visit the job site, and suppliers can build teams quickly and easily for large projects.

Subcontractor Management allows a contractor’s training requirements to cascade down to the subcontractor for overall approval. Clients have access to reports on their contractor and subcontractor statuses and receive notifications when their standings change. Other key features include:

  • Ease of configurability: Avetta’s subcontractor management solution is immediately available when needed. Turn it on, and it’s done.
  • Prime to sub instant transparency: A connection request is all that’s needed for subcontractors to allow the prime contractor to see their information, providing full transparency of the subcontractor’s profile.

The feature is part of the Avetta One™ Platform, a global platform that manages critical risk areas in supply chains, creating the industry’s largest and most comprehensive supply chain risk management platform.

To learn more about the Subcontractor Management tool and Avetta One, visit https://avetta.com/subcontractor-management and https://www.avetta.com/avetta-one.

# # #

About 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries.

 

Visit https://www.avetta.com/ for more information.

PR Contact:
SnappConner PR
Mark Fredrickson, +1 801-806-0161
[email protected]

Avetta
Scott Nelson, +1 801-850-3363
[email protected]

 

 

5 minutes
Avetta Marketing

Avetta’s Workforce Management Solution Provides the Most Comprehensive Way for Supply Chains to Ensure the Safety of Their Projects and Workers

Submitted by admin on Tue, 03/08/2022 - 11:00
Avetta One Workforce Management assists companies in onboarding, qualifying, training and tracking contractors across their supply chain

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Worker Management

OREM, Utah—March 8, 2022—Avetta®, the leading provider of supply chain risk management (SCRM) software, today announced Workforce Management, the most comprehensive solution to onboard, profile, verify, train and manage site access for supply chain workers. The solution integrates the capabilities of acquired company Pegasus into the Avetta One™ platform, a single-source solution for managing operational, reputational and regulatory compliance risks.  

Workforce Management ensures that employees and/or external suppliers are compliant and safe on a worksite. Using the central workforce portal, companies can digitally store workers’ required job roles, training, competencies and certifications.​ With increased visibility into worker compliance, the solution saves time, lowers risks at worksites and enhances work quality.  

Workforce Management capabilities in Avetta One consist of three core areas and capabilities:  

  • Qualification Management: Capture and validate worker qualifications and documentation. 

  • Induction and Learning Management System (LMS): Build, host, schedule and deliver online training content and/or in-person classroom sessions to workers. 

  • Site Access Management: Manage worker access to the site using software, hardware or mobile log-points, which record worker time, attendance and movement data. Create worker passports, badges and ID cards through QR Codes, eCards, Bluetooth or RFID that enable site access or denial based on site compliance requirements. Clients have the ability to see whether their account membership is active, worker’s competencies, requirements and access key status reports.   

“The new Avetta One platform will enable a step-change improvement in our client’s supply chain risk programmes by extending our compliance and access management solutions to the individual worker or contractor,” said Taylor Allis, Avetta’s chief product officer. “Contractors represent a significant portion of the workforce, and a robust training and verification solution can reduce incidents by up to 50%. The digitalization of worker compliance is also critical to ensure continual business operations and supply chain resilience.”   

For clients, Workforce Management manages the entire processes for qualification management, reporting and collaboration. The application is mobile ready to help managers make decisions and take action at the site or wherever they are. The system provides communication and collaboration among workers, crews, companies and sites individually or with large groups. The system can create emergency alerts or event notices and track who was on-site if an emergency occurs. Workforce Management can be branded to the client or the project for maximum adoption, and the portal contains modern system navigation and UI for usability. The system uses artificial intelligence to verify many credentials and standard documents.  

Throughout the entire process, Avetta provides dedicated teams to support qualification best practices, regulatory compliance requirements and changes, localisation support, training, content creation and more. With an open API, Workforce Management can easily be integrated with access controls systems, payroll, scheduling, work order management, etc. ​ 

For workers, Workforce Management automates previously manual processes for renewals, re-training and expiries, creating customised notifications for each worker. When workers log into the Worker Portal, they see the client account they’re working for and receive a guided experience on what is needed and when to gain site credentials. Workers can associate their profiles with multiple contractor companies, so as they move from one organisation to the next, they can designate both organisations, badge in and use site access according to those different organisations’ compliance requirements. Avetta currently manages 1.5 million workers through Workforce Management.  

The new feature is part of the Avetta One™ Platform, a global platform that manages critical risk areas in supply chains, creating the industry’s largest and most comprehensive supply chain risk management platform. Data analytics dashboards in the platform provide simple, succinct reports to identify gaps and make specific action plans. Analytics reports give customers an unprecedented view of their supply chain through multi-risk analytics, supplier risk trends and supplier performance benchmarking. The platform uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures.  

Members on the Avetta network outperform industry standards and improve 7-8% per year on safety measures after joining, reducing administrative expenses on average by 75%. To learn more about Workforce Management and Avetta One, visit https://www.avetta.com/workforce-management and https://www.avetta.com/avetta-one.  

# # # 

About 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries. 

 

Visit https://www.avetta.com/ for more information. 

PR Contact: 
SnappConner PR 
Mark Fredrickson, +1 801-806-0161 
[email protected] 

Avetta 
Scott Nelson, +1 801-850-3363 
[email protected] 

 

6 minutes
Avetta Marketing

Avetta Launches Supply Chain Sustainability and ESG Risk Mitigation Solution on the Avetta One Platform

Submitted by l.faulkner on Tue, 02/22/2022 - 08:00
Solution enables companies to reduce supply chain risks and create a data-driven roadmap to achieve sustainability & ESG goals

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Avetta Launches Supply Chain Sustainability and ESG Risk Mitigation Solution on the Avetta One Platform

OREM, Utah—22 Feb 2022Avetta®, the leading provider of supply chain risk management (SCRM) software, today expanded its Avetta One™ Platform with a powerful sustainability and Environmental, Social, and Governance (ESG) risk mitigation solution that allows companies to reach their sustainability and ESG goals faster and with more confidence. With the new capabilities, the solution provides a holistic view of ESG status across the entire supply chain. Avetta is the only supply chain company to provide an ESG scoring system that considers individual company goals and global standards in 20 industry trades.  

“To become more accountable and responsible, companies are setting aggressive sustainability and ESG goals,” said Arshad Matin, president and CEO of Avetta. “Now comes the hard part—delivering on these promises. With this solution, boards and executives now have a unified view across their companies and suppliers to manage risk and improve compliance.” 

Reducing Risk While Achieving Compliance Goals 

For multinationals, up to 90% of their environmental footprint is in the supply chain. But most companies do not have the visibility into sustainability readiness and goals of each supplier. This situation increases the risks of unknowingly taking on unethical work practices, using protected resources and contributing to global climate change, leading to potential regulatory penalties, civil and criminal liability, and brand and reputation damage. 

Avetta’s sustainability and ESG solution solves this challenge by providing suppliers with analytics, sustainability ratings and maturity scores based on specific ESG standards and goals, such as Value Reporting Foundation (VRF – formerly SASB), Global Reporting Initiative (GRI), and Sustainable Development Goals (SDG). Key features of the solution that help companies to simplify their ESG compliance include:  

  1. Scoring ESG Maturity: Avetta calculates an ESG Index that characterises supplier levels of awareness and understanding by measuring ESG compliance across a range of global and specific company standards in 20 industries. To create these measures, Avetta provides analytics reports to help organisations determine which suppliers apply to which ESG requirements, based on company goals, multiple standards and codes of conduct. Suppliers are then guided through the registration process and evaluation completion based on their maturity levels.  

  1. Accurately measure and remediate ESG compliance: A scorecard shows the status and progress toward improvement. These capabilities enable companies to accurately measure and quickly remediate ESG compliance issues, reducing immediate risks while more quickly achieving long-term goals. Clients can then collaborate with suppliers to remediate gaps. The platform helps them optimise resource allocation, enable stakeholder awareness and source new suppliers from the network. 

  1. Enable data-driven decisions: Avetta’s platform leverages detailed analytics to target areas of concern, highlight achievements, and facilitate better corporate reporting and ongoing development of ESG and sustainability performance. 

 

Suppliers using Avetta can showcase their maturity in the ESG space, making them reliable partners to work with, as well as discoverable and attractive to clients from a financial investment standpoint —all within the Avetta One platform.  

In upcoming months, partners in the Avetta Marketplace will be added to assist suppliers with increasing their ESG performance. Available in the first quarter, Avetta is adding Sustain.Life as an Avetta Marketplace Partner, offering suppliers an affordable and effective solution to swiftly improve their sustainability performance—no matter the level of their experience. With Sustain.Life, companies can calculate and track their carbon emissions for free and utilise expert guidance and tools to reduce those emissions. 

Data analytics dashboards provide simple, succinct reports to identify gaps and make specific action plans. Analytics reports give customers an unprecedented view of their supply chain through multi-risk analytics, supplier risk trends and supplier performance benchmarking. The platform uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures. The analytics software includes customisable, interactive dashboards to gain insights that improve supply chain measures. 

According to McKinsey & Company, organisations that fulfil ESG criteria see an overall cost reduction of up to 10%. In addition, ESG-focused management hedges against possible risk factors surrounding regulations and policy changes. Members on the Avetta One platform outperform industry standards and also reduce administrative expenses on average by 75%. 

Single Platform to Manage Multiple Areas of Supply Chain Risk 

The Avetta One Platform is the industry’s largest and most comprehensive supply chain risk management platform. The platform delivers a unified view of supply chain risks across safety and health, liability, workforce management, sustainability and ESG, diversity and inclusion, financial viability and cybersecurity. Avetta One also helps suppliers by quickly quantifying their compliance ratings and benefits workers by offering a central workforce portal to digitally store required job roles, training, competencies, and certifications. To learn more visit, https://www.avetta.com/avetta-one.  

Availability 

The solution is available today for all Avetta One customers. To learn more, visit https://avetta.com/avetta-sustainability-esg.  

About 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries. 

Visit https://www.avetta.com/ for more information. 

PR Contact: 
SnappConner PR 
Mark Fredrickson, +1 801-806-0161 
[email protected] 

Avetta 
Scott Nelson, +1 801-850-3363 
[email protected] 

 

7 minutes
Avetta Marketing

New Avetta One™ Platform Provides Unified View of Supply Chain Risk for Companies and their Suppliers

Submitted by l.faulkner on Wed, 01/19/2022 - 08:14
Avetta One offers a single-source solution for managing operational, reputational and regulatory compliance risks; simplifies contractor and supplier management while significantly driving down administrative costs

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avetta one

OREM, Utah— 19 January 2022—Avetta®, the leading provider of supply chain risk management (SCRM) software, today announced the Avetta One™ Platform, a single-source solution for managing operational, reputational and regulatory compliance risks. The platform reduces safety, liability, sustainability, workforce, cybersecurity and financial risks for corporations, suppliers, contractors and their workers.

“Business is shifting from a digital transformation to a societal one, as markets demand corporate accountability regarding safety, security, sustainability & ESG, ethics and social initiatives,” said Arshad Matin, president and CEO of Avetta. “Avetta One provides organisations analytical insights into how they measure up to their risks and goals across the entire supply chain.”

Avetta One delivers a global platform that manages critical risk areas in supply chains, creating the industry’s largest and most comprehensive supply chain risk management platform.

  • For clients, provides a unified platform that manages risk across safety, liability, workforce qualifications, sustainability & ESG, diversity, financial health and cybersecurity programmes.
  • For suppliers, reduces time and cost by demonstrating their superior business qualifications across many clients from a single system.
  • For workers, offers a central workforce portal to digitally store their required job roles, trainings, competencies and certifications.
  • For partners, creates an open marketplace and community to provide services on the world’s largest SCRM platform.

 

Avetta One will give Avetta clients an unprecedented view of their supply chain risk programmes through multi-risk analytics, supplier risk trends and supplier performance benchmarking. The platform uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures. The analytics software includes customisable, interactive dashboards to gain insights that help build supply chain confidence.

Members on the network outperform industry standards and improve 7-8% per year on safety measures after joining, reducing administrative expenses on average by 75%. An international e-commerce company saves $12 million annually in accident avoidance, programme management and software development costs. A major food provider reduced its incident rate by 34%; its suppliers outperformed the U.S. health and safety industry rate by 52%.

“Most organisations have the means to focus only on top-spend supplier risks, causing them to miss significant risks in other areas of the supply chain,” said Matin. “Those risks can be costly at $47,000 per accident, $1 million per day/environmental violation and $4.2 million per cyber incident. Avetta One helps companies focus on leading indicators that help companies proactively manage risks through a holistic view of the entire supply chain.”

On top of the Avetta One platform, the company provides trusted expert services to help with verification of insurance, certifications and licensing. Compliance is verified by skilled audit professionals who are full-time staff trained in each regulatory area. Avetta also offers remote/onsite assessments, which uncover hidden risks through both lagging and leading indicators. Advisory services provide insights into risk areas ranging from quick essentials to deep dive quantitative evaluations to reveal current vulnerabilities and actionable insights. Avetta’s training services offer courses, training, certification requirements and compliance tasks for workers.

“Over the course of the pandemic, the definition of what constitutes a business risk has evolved dramatically,” said Nick Heinzmann, analyst team lead at Spend Matters. “Procurement and supply chain groups are increasingly being pushed by their management, investors and end consumers to tackle large-scale, society-level problems, to include carbon emissions reduction, supplier diversity and equity improvement, and the prevention of cybersecurity failures that could lead to the disruption of critical infrastructure. Yet they must also continue to manage and improve upon core supply chain risks such as EHS standards and liability coverage.

“This is what makes the release of Avetta One so timely. Instead of piecing together third-party profile, compliance and sustainability risk data across multiple solutions, organisations can use Avetta to centrally manage their risk management efforts, integrating this essential process into their current third-party management workflows. The result is an offering sorely needed in the world of 2022: a central platform and network in which customers and suppliers can manage the evolving scope of risks affecting their businesses.”

Suppliers save time and costs by using one system to demonstrate compliance across all risks. They can also find new jobs within the Avetta Network and receive workforce training and third-party certification. Experts are available to guide suppliers on reducing business risks and qualifying for client contracts.

Avetta One focuses on seven types of risk:

  • Health & Safety. Supplier pre-qualification ensures safe and compliant suppliers among all industries and geographies.
  • Workforce Management. Determine competencies required for each role and worker delivering services. Verify worker training, certifications and qualifications so only qualified workers are allowed on-site.
  • Sustainability & ESG. Provides sustainability ratings and maturity scores based on the company’s specific ESG standards and goals. A scorecard shows status and progress toward improvement.
  • Diversity & Inclusion. Locate and connect with suppliers committed to diversity and inclusion by applying 25 included diversity filters.
  • Liability. Ensure adequate insurance coverage is achieved for suppliers and contractors.
  • Financial Viability. Supplier financial health is measured through financial filings, business liens, bankruptcy filings and general financial health ratings.
  • Cybersecurity. Evaluate vendor adherence to critical security controls and ensure suppliers have been trained to use sensitive information and protect it with appropriate tools.

 

The Avetta One solution is now generally available. To learn more about Avetta One, visit https://www.avetta.com/avetta-one.

# # #

About 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, nearly 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 500+ enterprise companies and 125,000+ suppliers across 120+ countries.

Visit https://www.avetta.com/ for more information.

PR Contact:
SnappConner PR
Mark Fredrickson, +1 801-806-0161

[email protected]

Avetta
Scott Nelson, +1 801-850-3363

[email protected]

 

7 minutes
Avetta Marketing
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