Accolade recognizes leading supply chain risk management (SCRM) firm’s ongoing commitment to artificial intelligence (AI) and machine learning to protect its customers’ supply chain network
CHICAGO, IL (December 9, 2022) – Sphera®, a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, today announced that riskmethods, a Sphera company specializing in supply chain risk management (SCRM), has been named as one of the world’s 100 pioneering digital procurement solutions by ProcureTech.
ProcureTech100 recognizes leading-edge digital procurement solutions that are inspiring and driving digital transformation and are customer centric, innovative, high growth and making a social impact. riskmethods received this recognition in the Analytics, Data and Intelligence category for supporting customers on their journey to supply chain resilience through its software as a service (SaaS) solution, which harnesses artificial intelligence (AI), big data and machine learning to identify, analyze and help mitigate all types of supply chain risk.
As a result of continued global supply chain disruptions brought on by events such as the COVID-19 pandemic, the war in Ukraine and wider macroeconomic inflationary pressures, consumers, shareholders and regulators have been changing their focus from profitability to demanding resilience and transparency throughout global supply chains. By using artificial intelligence (AI), riskmethods Risk Intelligence™ monitors more than 500 million datasets every day across a million digitally mapped customer, supplier and transportation sites and routes to prevent business disruption risk before it materializes and achieve supply chain transparency. To ensure the highest level of accuracy, the riskmethods team of risk research analysts rate information and media sources for their relevancy to train its machine learning algorithms for the highest relevancy in the market. Having developed this approach for over a decade, riskmethods Risk Intelligence delivers alerts that are 99.98% relevant to its customers.
“We are honored to be recognized with this inaugural award for our digital work strengthening supply chains,” said Heiko Schwarz, founder and CEO of riskmethods. “As recent events have shown, the knock-on effect of supply chain disruption is a global issue. Our SaaS solution offers a way for real-time way to manage this risk.”
“Recognition as a pioneer in digital procurement solutions highlights the tremendous work riskmethods has done to support companies in mitigating supply chain risk,” said Paul Marushka, Sphera’s CEO and president. “We are proud to receive this honor and are excited to continue creating innovative supply chain solutions.”
“The pace of digital innovation and ability for digital procurement solutions to scale over the last year has been impressive,” said Lance Younger, Founder and CEO, ProcureTech. “Exceptional CEOs and Founding teams are inspiring a generational change to the digital procurement ecosystem solving global challenges.”
riskmethods, a Sphera company, empowers businesses with a solution to monitor, identify, assess, and mitigate supply chain risk. By using artificial intelligence, riskmethods helps businesses automate and accelerate threat detection, enabling them to gain competitive advantage with a well-managed approach to meeting customer demands, protecting reputation and reducing total cost of risk. To learn more about why riskmethods is the intelligent way to manage risk, visit www.riskmethods.net.
For more than 30 years, Sphera has served over 6,700 customers and a million-plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
ProcureTech is on a mission to accelerate and amplify the digital future of procurement to solve the most pressing social, environmental, and economic challenges. ProcureTech is a dynamic platform for procurement and technology leaders, entrepreneurs and the digital procurement ecosystem. It is home to the ProcureTech100 – the 100 digital pioneering digital procurement solutions, and ProcureTechSOURCE – smarter, faster digital procurement solution matching and management.
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