Risk-based spend management tool, available within the Resilinc platform, enables organizations to make smarter business decisions
MILPITAS, CA, March 30, 2023 (GLOBE NEWSWIRE) — Resilinc Corporation, the world’s leading supply chain monitoring, mapping, and resiliency solution is pleased to announce the launch of its Spend Analytics solution. This spend-management tool associates an organization’s spend to a specific supplier, category, or part. The data, which is available alongside other supplier risk insights within the Resilinc platform, provides companies full visibility into both direct and indirect supplier spend across the organization, as well as the unique ability to query deeper analytics including:
- Supplier spend by category
- Part spend by category
- Part spend by supplier
- Category spend by supplier
Armed with this information, and coupled with an extensive set of quantified supplier risks, practitioners can make strategic, data-backed decisions when it comes to mitigating supply chain risk, negotiating terms, or engaging with suppliers.
“Supplier spend is a critical metric when it comes to a supply chain risk and resiliency program and we’re pleased to be able to incorporate these insights as part of Resilinc’s customer platform. Having the ability to look at spend for a supplier alongside other risk data including ESG compliance, natural disaster preparedness, and business continuity, enables practitioners to make informed decisions into how to best mitigate risk, including shifting sourcing or increased collaboration with that supplier,” said Sumit Vakil, Resilinc’s Chief Product Officer.
Resilinc’s Spend Analytics solution provides organizations with holistic spend visibility and management, risk-based spend insights, and actionable workflows to manage high-risk situations. With these capabilities companies can achieve sourcing efficiency, cost savings, and resilience. The Spend Analytics solution has the ability to integrate into any third-party solution like ERP, control tower, or spend management systems via a secured API.
For more information on our Spend Analytics solution please visit our Spend Analytics Solution page.
Resilinc was founded with the purpose to strengthen global supply chains, making them resilient, sustainable, transparent, and secure. We do this via our technology-driven solutions which create an ecosystem where organizations can collaborate with their suppliers and customers with a spirit of transparency and trust to acquire unmatched visibility into their multi-tier supply networks, and partner across tiers seamlessly to recover supply chains during disruptions.
Since our launch in 2010 Resilinc has defined the supply chain mapping, monitoring, and resiliency space and is widely considered the gold standard for supply chain resiliency, worldwide. With over 1 million supplier sites mapped encompassing over 4 million parts and raw materials, we are the first line of defense for our customers, helping them navigate supply disruptions. Our early-warning alert system monitors and predicts potential disruptions across suppliers, sites, and materials; our platform enables them to collaborate closely with their suppliers; our historical data-backed insights give them options on appropriate actions to take. Always innovating, our AI-powered predictive solutions can predict delivery delays, price movements, and supply constraints for raw materials and commodities before they happen. Resilinc helps our customers protect revenue and turn supply chain risks into opportunities to gain competitive advantage. Learn more at www.resilinc.com.