RapidRatings, SynerTrade support supplier financial risk management

Friday 15 June 2018 09:23 CET | News

RapidRatings and procurement tech provider SynerTrade have partnered up to help companies gain control of the financial risks of prospective suppliers.

Leveraging the RapidRatings Risk Management API technology to deliver the financial health rating for public and private companies into Accelerate Platform, clients will be able to identify the suppliers vetted to meet the company’s financial viability and compliance requirements.

Procurement and risk organisations leverage the FHR’s predictive analytics to understand their third-party relationships in terms of financial viability, operating efficiency, and probability of default. SynerTrade specialises in helping companies advance their procurement organisations by using applications to improve their sourcing process and establish a clear line of communication with their suppliers.

Embedding financial health scores into the procurement process, especially during sourcing events, helps companies build partnerships founded on transparency which can result in supply chain continuity and resilience.

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Keywords: RapidRatings, SynerTrade, supply chain fnance, risk management, API technology, Accelerate Platform
Countries: World