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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, viability 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 in real time. In addition, the platform comes with distinct features that can help companies bolster their supply chain cyber resilience.

Financial Risk Mitigation

Multi-Risk Monitoring

Avetta helps you monitor critical risks including financial health, sanctions violations, legal proceedings, negative media reports, and more. Evaluate your suppliers based on more than 45 financial metrics from over 200 global data sources. 

Configurable Compliance

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 based on your specific financial concerns. 

Global and Local Risk Management

With a 94% match rate, clients can see financial and business risk factors for their entire supply chain worldwide. As part of Avetta One, organizations can manage all of the risks of their extended network in one location.

Real-Time Insights

While a quick snapshot is nice, we understand the need-to-know critical risk factors in real-time. Avetta’s business risk solution, powered by CreditSafe, actively monitors these risks and flags non-compliance as they occur.

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 off¬ering 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
Director of Strategic Sourcing, BlueStream
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
Safety Director, SBA Communications

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
Sep 29
Chicago, IL
Visionary 200 Sustainability Summit
Oct 4-6
Virtual
HSE Digital Summit
Oct 5-6
Ottawa, Ontario
Webinar
Ottawa Construction Symposium & Trade Show
Oct 5
Virtual
Safety Incentives: The Good, The Bad, and the Ugly
Oct 5-7
San Diego, CA
EHS Cal/OSHA Summit
Oct 11-13
Kansas City
EHS Exchange
Oct 12-13
Perth, Western Australia
WA Mining Conference
Oct 13-14
Virtual
The 9th Annual PASA Premier ConfeX
Oct 16-19
Phoenix, AZ
21st Annual Compliance & Ethics Institute