May 12, 2011 posted by Allen Thompson
SAN FRANCISCO, Calif., May 12, 2011 – Aravo Solutions, Inc., a leading provider of on–demand Supplier Information Management (SIM) software and services for Supplier Lifecycle Management, today announced the controlled release of Aravo Assure™, the industry’s first — and only — supplier information network with a focus on risk, performance, compliance, and sustainability. Aravo also announced that General Electric will serve as the first customer of Aravo Assure™.
Harnessing the Power of Collaborative Networks
Aravo Assure™ allows companies to leverage Aravo’s industry-leading SIM platform in a true many-to-many, centralized, network environment. Just as LinkedIn was developed for professional networking, and Facebook for social networking, Aravo Assure™ was developed to harness the power of collaborative networks to drive more efficient, effective business-to-business relationships for companies of all sizes.
Buyers using Aravo Assure™ will benefit from improved supplier capacity, performance and data accuracy, lower risk, and reduced supplier management costs via the sharing of public data across all network participants. Benefits to suppliers include reduced administrative expense, access to new revenue opportunities, and improved ability to showcase product and service capabilities, company health and regulatory compliance to the large buying organizations using Aravo Assure™.
“Aravo Assure™ is a new kind of network that delivers unique value to both buyers and suppliers across multiple vertical industries,” said Aravo Founder and Executive Chairman Tim Albinson. “While other networks have focused on directories, transactions or auctions, Aravo Assure™ offers something new and different. We’ve built a business-to-business network that takes features we love on networks like Facebook or LinkedIn — such as permission-based relationships and connections — and translated them into a business-to-business, buyer-seller relationship context. The result is a network unlike any other that fills a huge hole in the marketplace for both buyers and suppliers.”
GE Signs on as First Customer of Aravo Assure™
GE has signed on as the first customer of the Aravo Assure™ network. GE will utilize the network to simplify processes surrounding supplier selection, on-boarding, data management, and regulatory compliance tracking. Starting this month, GE will provide access to Aravo Assure™ to its 750,000 suppliers to simplify processes and data requirements associated with selling goods and services to GE. In addition, GE will use Aravo Assure™ to make it easier for small businesses and diversity suppliers, such as women- or minority-owned businesses, to do business with GE. Aravo Assure™ will also support GE’s global efforts to drive sustainability, corporate citizenship and corporate social responsibility across its global supply chain.
“Over the last three years, GE has successfully utilized Aravo’s market-leading SIM solution to transform our internal supplier lifecycle management landscape,” said Tom Hattier, GE SSS/AP Operations Manager. “We are excited to enter into this new phase of our relationship and expect to derive substantial benefit from the Aravo Assure™ network, particularly as it supports our efforts to develop and strengthen relationships with our small business and diversity suppliers.”
The Supplier Perspective
Suppliers who do business with large buying entities face a constant stream of requests for information ranging from basic, public information such as addresses, contacts and emails, to more complex, confidential information such as regulatory credentials, banking/tax forms and insurance certifications. The administrative burden and expense of managing these one-to-one client-driven requirements are significant, particularly given the absence of tools to leverage data and credentials across multiple clients once a master record is established. Aravo Assure™ was developed to transform this administrative burden into a strategic opportunity to drive revenue and reduce expense using a many-to-many, collaborative, network.
“Keeping up with the constant requests for information on our company and products from our customers creates substantial workload for our sales and operations teams” said Steve Scheer, President of Brondell, Inc., a supplier of luxury bathroom products. “The fact that many of our customers still rely on manual data management tools such as fax and email only compounds the time and cost involved on our side. With Aravo Assure™ the process of providing our customers with all the information they need to do business with us is greatly simplified – and offers us a great new marketing/lead gen capability as well.”
The analyst community agrees that Aravo Assure™ fills a pressing market need. “Our research suggests that supplier networks to date have amounted to little more than basic transactional plumbing for buyers and suppliers — EDI for the web and automated indirect materials purchasing era if you will. This leads to limited value creation and limits the network-effect potential of collaborative information interchange and key data and profile management between trading partners,” said Jason Busch, Executive Editor of Spend Matters and Managing Director of Azul Partners, a leading advisory firm. “Aravo Assure can change this dynamic by lowering costs and barriers for organizations to maintain accurate and up-to-date information on all of their supply chain partners by tapping into a global network, providing key supplier insight across all spend categories and types while lowering costs for both parties.”
Aravo Assure™ is available to GE suppliers today. General Availability will be in Q4 of this year.
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 https://www.aravo.com.
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