Corcentric announced a strategic partnership with Beroe, a supplier risk and compliance provider.
The integration of Beroe Know Your Supplier (KYS) with the Corcentric Platform offers Corcentric customers a unique opportunity to easily link supplier profiles with leading third-party risk data providers by removing the need to strike individual agreements. Beroe’s KYS provides Corcentric Supplier Management customers information from the leading providers of supplier risk data including financial, reputational, sustainability and cyber risk information, according to an announcement.
Over the last 12-plus months, organizations have been increasingly concerned about supply chain disruption. The lack of insight in supply chains is accentuated by the volume of supplier data and tying them back to risk. Poor supplier management processes and data infrastructures have traditionally made unifying supplier profiles with third-party data in areas like financial, reputational, sustainability and cyber-risk too tedious and expensive.
“The inability to effectively link third-party supplier risk data to wider supplier management efforts puts a massive strain on supplier risk mitigation and compliance assessments efforts,” says Sean Regan, senior vice president of global alliances, Corcentric. “We are truly excited about this program with Beroe. This offering adds tremendous value to our customers for solving the supplier data collection challenge and truly gives them a competitive advantage in the ability to mitigate supplier risk and improve compliance.”
Accessed as an application within the Corcentric Supplier Management solution, organizations now can easily extend visibility by gearing up or down the number of suppliers and data sources they subscribe to within the Beroe KYS application.
“Companies are only as good as their supply chains, yet unfortunately these are vulnerable to disruption and unforeseen risks when suppliers are not effectively monitored. Beroe’s and Corcentric’s partnership further strengthens our efforts in enabling organizations to create a more resilient supplier risk program,” says Vel Dhinagaravel, Beroe founder and CEO.
Corcentric analyzed the market in the third-party risk space in looking for a technology partner. Beroe’s complimentary offering serves as a true extension of Corcentric’s supplier risk and compliance management solutions. The integration comes on the heels of Corcentric’s expanded global partnership program, as the company continues to demonstrate flexibility to sourcing and procurement leaders looking for new, rapid and innovative ways of enriching their supplier risk and wider supplier management efforts on a leading source-to-pay platform, Corcentric says.