Supply chain risk is multi-faceted and requires a holistic solution to highlight third-party risks and vulnerabilities. The importance of protecting your extended operations from these risks cannot be overstated.
Whether financial struggles prevent a supplier from delivering, a third-party cyber-attack disrupts your business operations, an insurance gap puts you on the hook for millions, or anything in between, a single instance is one time too many for modern supply chains.
The Importance of Constantly Monitoring Liability Risks, Supplier Financial Viability and Cyber Resilience
The Importance of Constantly Monitoring Liability Risks, Supplier Financial Viability and Cyber Resilience
Supplier financial risk represents 48% of all supply chain risk events
40% of small businesses have no insurance at all
Two-thirds of supply chain data breaches are from supplier vulnerabilities
5-15% more injuries occur in financially unstable companies
44% of businesses have had a data breach caused by a third party
75% of organizations have had sensitive data stolen in a cyber-attack
75% of U.S. businesses are underinsured
55% of organizations say supplier insolvency is a leading risk in the supply chain
Avetta One
An end-to-end solution for mitigating financial, business, liability and cybersecurity risks
• Legal and sanctions risks that could disqualify a key supplier or contractor
• Negative press and reputational risk that could hurt your bran
• Insurance liability gaps that could result in costly consequences
• Cyber vulnerabilities that put your data and/or operations at risk
Multi-Risk Monitoring
Avetta helps you monitor critical risks including financial health, sanctions violations, legal proceedings, negative media reports, and more.
Real-Time, Global Insights
Eliminate one-time credit checks with real-time global monitoring from over 200 data sources worldwide, powered by CreditSafe.
Data at Your Fingertips Instantly
Financial and business risk data is populated automatically—no supplier self-reporting or waiting for them to complete questionnaires.
Eliminate Insurance Gaps
Specify your insurance requirements and Avetta collects and verifies each supplier and contractor’s coverage for you.
Real-Time Monitoring
Never get surprised by lapsed or reduced coverage, as all third-party insurance in monitored in real time with changes immediately visible to you.
Simple Supplier Experience
Suppliers get a frustration-free process, with real-time data validation that eliminates errors and reduces back-and-forth with Avetta specialists.
Instant Cyber Ratings
View cyber vulnerabilities across your entire supply chain instantly, with no work required on the part of your suppliers and contractors.
Continuous Monitoring
Always get the most up-to-date view of third-party supplier health with continuous monitoring, powered by Security Scorecard.
Cybersecurity Questionnaire
Automate existing IT questionnaires or dig deeper into cyber ratings with a cybersecurity questionnaire that covers IT policies and practices.
Testimonial
“I work with Avetta because it means you don’t spend time collecting data. The work is done for you. You get to review it, pick how you want to use it, and spend your time on more important things.”
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.
With Avetta One, you get the opportunity to leverage a single unified platform for all supplier evaluations spanning health & safety, financial viability, sustainability & ESG, diversity & inclusion, cybersecurity, workforce risk and liability.
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 Member Benefits, 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.