Integrated Solution Will Enable Fortune 1000 Organizations to Achieve Greater Visibility into the Financial Health of Suppliers
MILPITAS, CALIF. & VALLEY COTTAGE, N.Y. – July 29, 2020 – Resilinc Corporation, the world’s leading supply chain monitoring, mapping, and resiliency solution and CreditRiskMonitor (OTCQX: CRMZ), a web-based publisher of financial information, 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 the 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.
Resilinc is the world’s leading supply chain monitoring, mapping, and resiliency solution. Over 100 of the world’s leading organizations including IBM, General Motors, EMC, Amgen, and Western Digital rely on Resilinc’s AI-powered monitoring service to have visibility into potential supply chain disruption. Resilinc maps the supply chain multiple tiers deep, down to part, supplier, and site levels, and exposes bottlenecks deep in sub-tier suppliers. Companies partner with Resilinc to protect revenue despite supply chain disruptions worldwide. For more information, visit us at https://www.resilinc.com.
CreditRiskMonitor (creditriskmonitor.com) is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately, and cost-effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus, such as Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.
The Company also collects a significant amount of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.
More than 35% of the Fortune 1000 plus over 1,000 other large companies worldwide depend on CreditRiskMonitor’s timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis, and trend reports, peer analyses, bond agency ratings, crowdsourcing of risk professionals as well as the Company’s proprietary FRISK® and PAYCE® scores.