Resilinc Corporation and CreditRiskMonitor have announced a partnership to integrate CreditRiskMonitor’s FRISK score and related financial risk assessment capabilities with Resilinc’s supply chain resiliency and risk management platform. The integrated solution will enable Fortune 1000 organizations to achieve greater visibility when it comes to gauging financial health of suppliers and overall supply chain risk.
“Given current economic challenges, brought on by a global pandemic and other outside events, supply chains have been highly disrupted and companies are facing unprecedented levels of risk when it comes to suppliers,” said Bindiya Vakil, CEO of Resilinc. “Incorporating financial risk visibility into a comprehensive supply chain risk program is a must in today’s climate. The combined capabilities of Resilinc and CreditRiskMonitor will enable our customers to accomplish that.”
Resilinc’s AI-powered monitoring service maps the supply chain multiple tiers deep, giving Fortune 1000 organizations visibility into potential supply chain disruption down to the supplier, part, and site levels. CreditRiskMonitor, meanwhile, delivers its aforementioned proprietary FRISK score: a 96%-accurate daily read on bankruptcy risk hidden within more than 57,000 public corporations worldwide as well as alternative options for assessing the financial risk of private suppliers.
“As we continue to expand our business into the world of procurement, a partnership with a leader like Resilinc is a boon for our company,” said Jerry Flum, CreditRiskMonitor CEO. “The fact that we can bring our own data-driven solutions like our FRISK® score to the table with Resilinc gives their clients a no-doubt competitive advantage.”
“The COVID-19 Crisis has the potential to exacerbate the current non-financial corporate debt bubble we’ve been building over the last 11 years. With worldwide non-financial corporate debt at record levels, both in absolute and relative terms, and a potential working capital crisis looming, public company bankruptcies could deal crippling blows to supply chain functions,” Flum added.