Report Mentions the Business Impact of Supplier Risk Management
San Marcos, Calif. – August 30, 2023, Everstream Analytics, the global leader in supply chain insights and risk analytics company, today announced it has been recognized as a Sample Vendor for Supplier Risk Management in the Gartner Hype Cycle for Procurement and Sourcing Solutions, 2023 report (July 2023).
“Procurement technology leaders can use this Hype Cycle to understand these emerging technologies and weigh their maturity, benefits and value drivers, and potential risk against more established solutions when prioritizing investments.”
According to the report, “Supplier risk management enables buyers to manage risk events that can impact their supply chain and initiate risk response plans. It includes risk event monitoring and mapping; financial; capacity; compliance; environmental, social and governance (ESG); corporate social responsibility (CSR); cyber risk; and performance management.” The report mentions that “timely and efficient notice of other holistic risks such as financial, weather, cyber and geopolitical events that are likely to impact suppliers can provide competitive advantage, augmenting resilience and agility.”
At the heart of Everstream Analytics’ industry-leading sub-tier visibility and risk insights and analytics are AI/machine learning (ML) and graph technology. According to the report, “Embedded AI/machine learning (ML) and graph technology give solution providers the ability to offer customers more refined financial risk scores, better impact modeling, and the beginnings of predictive and prescriptive analytics.”
“Procurement leaders across all industries face an increasingly challenging and fast-evolving business landscape. With unforeseen risks, changing regulations, and sustainability initiatives, targeted visibility and relevant analytics are crucial to proactively identify, assess, and mitigate risks,” said Julie Gerdeman, CEO of Everstream Analytics. “Everstream Analytics provides solutions to optimize operations and sustainability across even the most complex supplier networks. It is our belief that being recognized in Gartner’s Hype Cycle for Procurement and Sourcing Solutions, 2023 reinforces our long-standing expertise in supplier risk management.”
To learn more about Everstream’s industry leading supply chain visibility risk intelligence solutions, visit https://www.everstream.ai/
Source: Gartner, Hype Cycle for Procurement and Sourcing Solutions, 2023, Kaitlynn Sommers, Micky Keck, Lynne Phelan, et al, 19 July 2023. The Gartner Hype Cycle for Procurement and Sourcing Solutions, 2023 is available online for Gartner subscribers.
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About Everstream Analytics
Everstream Analytics sets the global supply chain standard. Through the application of artificial intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics businesses need for a smarter, more autonomous and sustainable supply chain. Everstream’s proven solution integrates with procurement, logistics and business continuity platforms generating the complete information, sharper analysis, and accurate predictions required to turn the supply chain into a business asset. To learn more, visit https://www.everstream.ai/.
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Allison Stokes
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