Interos announces the immediate availability of a new set of features to accelerate detection and sharing of supply chain risk across multiple enterprise functions including Procurement, Business Continuity Planning, Enterprise Risk Management, and Information Security Risk teams.
The COVID-19 pandemic, fractured trade pacts, adversarial geopolitical agendas, and new regulatory requirements (including NDAA Section 889 Part B) governing the use of foreign technologies and infrastructure have triggered a ‘reset’ in enterprise strategies for third-party risk management. As just-in-time fulfillment gives way to a focus on operational resiliency and greater agility, companies must embrace a framework optimized for the rapid detection, collection, and sharing of risk information within and across supplier ecosystems.
The latest set of Interos product features advance principles of this new architecture, the Interos Resilience Operations Center (IROC™) framework, for 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 our customers to bring additional information to our 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. APIs make it easy to integrate external data sources and business systems including Procurement, Ethical Sourcing, Enterprise Risk Management, Fraud and Information Security.
“There is no one-size-fits-all approach to third-party risk management. The concerns of a multinational manufacturer are vastly different than those of a mid-size financial services organization or government agencies. The Interos ROC™ framework is designed to address the needs of almost every organization with common information and analytics to support the tactics, techniques, and procedures organizations can use appropriate to the scope of their third-party risk management challenges and goals,” said Jennifer Bisceglie, CEO and founder of Interos.
Interos’ risk assessment and monitoring capabilities span over 50 million entities and mine 85,000+ data sources. Interos' platform leverages machine learning and AI, to build the world’s largest contiguous map of business connections, and natural language understanding (NLU) to map out a company's supply chains, business relationships and ecosystems. The result is a clear picture of a company's entire ecosystem from end to end, with scoring across five key risk pillars, that are monitored and updated continuously.