New Packaged Service Helps Companies Start a Supplier Risk Management Program in 60 Days or Less for a Fixed Price of $50,000
SAN FRANCISCO, Calif., February 23, 2010 – Aravo, the leading provider of on-demand Supplier Information Management (SIM) software and services, today announced the immediate availability of Aravo Supplier Risk QuickStart, a software and services package to help companies quickly start a supplier risk management program. Aravo Supplier Risk QuickStart identifies and analyzes risk for critical suppliers, and provides an expandable foundation for managing the identified risk. The solution can be implemented in 60 days or less for a fixed price of $50,000 including all software, services, training and support.
“According to a recent Aravo survey of Fortune 1000 companies, over 50% of respondents reported that they actively manage risk for less than 20% of their suppliers” said Aravo CEO Tim Albinson. “While most companies understand the need to manage supplier risk, many are unclear on how or where to begin the process. Our new Supplier Risk QuickStart package is an easy first-step to quickly identify a firm’s highest risk suppliers. The offering is based on industry-specific best-practices and provides the foundation for a full-scale supplier risk management program.”
Aravo Supplier Risk QuickStart Helps Companies Identify, Mitigate and Manage Supplier Risk
Supplier Risk QuickStart is a subset of Aravo’s enterprise risk product – Aravo Risk – the industry’s only SaaS solution that takes a holistic supplier lifecycle approach to managing supplier risk. While other products offer single components such as risk analysis, transactional compliance, or third party ratings, Aravo Risk combines all of these components into a comprehensive solution that helps organizations centralize supplier risk management and build a complete risk profile of their suppliers – from evaluating new suppliers to monitoring everyday transactions to performing audits and compliance reviews.
Aravo Supplier Risk QuickStart is priced at a fixed fee of $50,000 which includes:
- Supplier risk assessment: quickly identifies high risk suppliers and key at-risk categories;
- Supplier data import: imports profile data for up to 1000 suppliers;
- Supplier risk profile: compiles risk profiles from up to 100 key supplier risk-focused attributes such as revenue, credit scores and SAS 70 compliance, among many others;
- Zero-touch updates from internal data sources: automatically collects risk information directly from internal sources such as disparate IT systems and departmental business stakeholders;
- Automated workflows and alerts: proactively notifies stakeholders about potential supplier risk issues, and enables collaboration on mitigation initiatives and corrective action planning;
- Integrated survey tools: helps users compile and assess existing risk data and identify potential gaps in data or policies;
- Implementation and training: includes 60 day Aravo Global Services implementation, user training and ongoing support.
Upon completion of the QuickStart implementation, companies wishing to expand their supplier risk management program will be provided with a clear roadmap by Aravo Global Services that includes best practice methodologies.
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://aravo.wpengine.com.