Aravo Achieves Industry First: Surpasses 2 Million Active Suppliers
Industry's Dominant SLM Solution Delivers Single Source of Truth for Supplier Risk, Compliance, Performance and Profile Information
SAN FRANCISCO, CA, May 10, 2012 — Aravo Solutions, Inc., the leading provider of cloud-based Supplier Lifecycle Management (SLM) and B2B information and collaboration solutions, today announced its customers are now managing over 2 million active supplier relationships using its flagship Aravo Enterprise™ SLM solution.
Aravo launched the market's first Supplier Information Management (SIM) solution in 2004 and has been the leading innovator in the space ever since. With global customers including GE and Cisco Systems, Aravo continues to dominate the worldwide market for SIM, and now SLM, solutions. By transforming their process and technology landscape using Aravo's technology, customers reduce supplier management costs by up to 72%, avoid supply chain disruptions by proactively managing supplier risk, and accelerate time-to-market through optimized supplier discovery and performance management.
Multiple decentralized transaction systems, each with their own unique vendor master files and supporting processes, have resulted in excess supplier proliferation, long manual supplier on-boarding processes, and a lack of effective supply chain visibility. In addition, difficulty in tracking contracted terms has led to significant off-contract spend across regions and commodities. Given the continued growth of their global business, combined with the need to control spend management costs, they realized the critical need for an integrated supplier management system.
"Aravo manages, by far, the largest single repository of SLM supplier information in the industry," said Robert Shecterle, Vice President, Marketing at Aravo. "Each new customer, combined with the addition of new and innovative product releases, drives thousands of new supplier relationships each week, helping our customers ensure regulatory compliance, lower supply chain risk and drive down administrative costs."
While many sourcing and procurement technologies focus primarily on driving benefits to large buying organizations, Aravo considers both the buyer and supplier perspectives. In Aravo's core SIM, Risk, Performance and Compliance applications suppliers are provided with a free, easy-to-use, single point of access to interact with buying organizations where they can upload and maintain key profile data, business credentials, compliance information, and data on health/risk mitigation practices. Aravo's technology then delivers the supplier's data to the systems of record across the buyer's global enterprise, dramatically reducing the supplier's administrative and support costs. Suppliers can also use Aravo to pre-register with potential new customers and retain tighter control over their online profile data, resulting in new relationships and revenue.
"Supplier Lifecycle Management is emerging as a central priority for procurement, supply chain, finance and a range of additional functions across companies, as well as for suppliers themselves," says Jason Busch, Managing Director, Azul Partners. "Aravo's significant growth in supplier users suggests that leading edge companies and vendor management organizations are increasingly on-boarding and actively managing even smaller suppliers to create greater risk and compliance visibility. It also shows that leaders in the field are getting closer and closer to the ultimate goal of comprehensive automation and 100% documentation of the exchange of information between trading partners across an extended supply base."
The world's best-run businesses utilize Aravo's Cloud-based Supplier Lifecycle Management solutions and Supplier Risk Services to find and manage trading partner relationships, reduce supply chain risk, ensure global regulatory compliance and lower the cost of managing suppliers by up to 72%. Aravo launched the market’s first SIM/SLM solution in 2004 and has been the leading innovator in the space ever since. Customers such as General Electric, Accenture, and Boston University rely on Aravo to manage information and processes for over 2 million global suppliers. Aravo is based in San Francisco, with offices in Chicago, Dallas, New York, Portland, Monterrey, Mexico and Ahmedabad, India, and is backed by over $50 million in investment from Cisco Systems, Big Sky Partners, and others. For more information regarding Aravo's award-winning solutions please visit our website at http://www.aravo.com.
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In a recent poll of Fortune 1000 executives, 71.4% of respondents expressed that their biggest concern is risk of supplier financial viability. However, despite these concerns, the majority of respondents have active risk management programs in place for less than 20% of their supplier base.
Aravo Supply Chain Risk Poll