Interos, the US multi-factor, multi-tier supply chain risk management platform, has launched a new set of features to accelerate detection and sharing of supply chain risk across multiple enterprise functions including procurement, business continuity planning, ERM, and information security risk teams.
The COVID-19 pandemic, fractured trade pacts, adversarial geopolitical agendas and new regulatory requirements governing the use of foreign technologies and infrastructure have triggered a reset in enterprise strategies for third-party risk management.
As just-in-time fulfilment gives way to a focus on operational resilience and greater agility, Interos says companies must embrace a framework optimised for the rapid detection, collection, and sharing of risk information within and across supplier ecosystems.
The Interos Resilience Operations Center (IROC) framework is the company’s solution, facilitating information-sharing and rapid response to supplier vulnerability and distress.
Alerts notify analysts when changes to supplier governance, geographic, and financial risks are detected. Customer-enriched data allows customers to bring additional information to the AI engine from their internal business systems, including capacity, financial, and contractual risk data.
This information is protected and isolated from Interos-managed information and allows for faster triage, priority and mitigation decisions.
Overlays provide instant visibility of COVID-19 impact, geographic and vendor concentration risk, as well as compliance with NDAA 889 and CMMC.
“There is no one-size-fits-all approach to third-party risk management,” said Jennifer Bisceglie, CEO and founder of Interos.
“The concerns of a multinational manufacturer are vastly different from those of a mid-size financial services organisation or government agencies.
The IROC framework is designed to address the needs of almost every organisation with common information and analytics to support the tactics, techniques, and procedures that organisations can use appropriate to the scope of their third-party risk management challenges and goals.”
Interos, Coronavirus, Risk Management, Insurance, Reinsurance, North America