CPO Rising’s Technology Round-Up returns today with an assortment of supply management technology news and updates from the past month to share with our community. If you are a sourcing, procurement, or spend management solution provider and you are continually innovating the way that procurement and supply chain leaders and practitioners drive value, we’d love to hear from you. Please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Bitvore Keeps Eyes to the Wind on Company Sentiment, Risks
Earlier this fall, Bitvore, a California-based provider of market intelligence and supply risk management solutions, announced the release of a new company sentiment scoring product. The cloud-based intelligent automation solution monitors news reporting, earnings transcripts and summaries, financial statements, and other forms of unstructured data 24/7/365 for early warning indicators of risk (as well as opportunities) for key suppliers. The program uses a Big Data management and analysis platform that rapidly ingests unstructured data and analyzes the data at the sentence level, looking at semantic structuring to get a sense of the sentiment of the overall document. It assigns a score for the document, and then includes it in an 90-day average for the particular company. Over time, low sentiment scores lose their weighting. Risk management teams, as well as category managers and other procurement personnel, can use sentiment scoring to understand trends for given suppliers in the market.
Resilience360, TAPA Team Up to Combat Cargo Crime
In other news, Resilience360, the supply chain risk intelligence and management arm of DHL, announced a partnership with the Transported Asset Protection Association (TAPA) in an effort to combat cargo crime. The two entities will collaborate to provide their users with a more holistic view of cargo-related theft and other crime. For now, the partnership will focus on Europe, the Middle East, and Africa (EMEA). TAPA EMEA members who are also customers of Resilience360 will be able to access cargo crime intelligence reporting and trends in the Resilience360 supply chain risk management platform. Resilience360 members will be able to view this data, in near-real time, in the context of other kinds of supply chain risk data, like environmental, geopolitical/political, labor, natural disaster/weather, and social issues occurring in a company’s supply chain. Due to this partnership, Resilience360 and TAPA members will be able to take a wider, more complete view of their supply chains to better understand the threat (or impact) of cargo crime on their supply chains.
Bamboo Rose Partners with Columbus Consulting
Also late last month, Bamboo Rose, a Boston-area business-network provider that specializes in driving new product innovation among trading parties, announced that it has partnered with Columbus Consulting, a retail consulting firm, to assist with platform integration, roll out, and ongoing customer support. Columbus Consulting is one of several consulting firms in Bamboo Rose’s professional services network. This partnership will enable Bamboo Rose to focus on what it does best — product development and innovation — while offloading integration and support to trusted third parties.
Aravo Highlights Third-Party Risk Exposure
Last month, Aravo Solutions, a San Francisco-based provider of third-party risk and performance management solutions, announced the release of Aravo for Information Security. Aravo for Information Security is a new, “pre-configured” application that companies can use to help uncover and manage third-party risk, like cyber security risks, privacy concerns, and general risks emanating from their supplier base. The application draws on data pulled from the “Shared Assessment” community to assess how a company’s third parties manage information security across 18 risk control domains. Even though Aravo for Information Security is a pre-configured application, it enables companies to ask specific questions of their third party service providers by way of the Shared Assessment community, in addition to using the 18 risk control domains that come standard with the Application. Users can even mix and match questions from different assessment domains.
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