Interos Launches First Real-Time Multi-Tier, Multi-Factor Third-Party Risk Management Platform
ARLINGTON, Va., March 05, 2020 (GLOBE NEWSWIRE) -- Interos, the first and only multi-tier, multi-factor third-party risk management platform, today announced the general availability of Interos v2.0, a cloud-based solution for third-party risk management. Unlike any other solution, Interos automates the discovery of third through Nth party relationships in customer supply chains, automatically assessing multiple risk factors, including financial, cyber, geographic, operational and governance.
The product announcement comes as the recent outbreak of coronavirus is expected to cost the global economy more than $1 trillion, according to Oxford Economics. Apple, a company with an already strong grasp on its supply chain, could see an estimated $7.5 billion revenue shortfall as a result, according to Morgan Stanley. Businesses need better protection from disruptive events and heightened awareness of risks before they materialize. Interos helps businesses be proactive about risks posed by challenges like these through near real-time visibility.
With Interos v2.0, enterprise risk leaders responsible for sourcing, governance and resilience can for the first time continuously detect and remediate multi-tier, multi-factor risk in the most complex supply chains and business partner ecosystems.
“The ability to handle the unexpected ripple effects from events like the coronavirus can make or break a business. Our customers lead their industries with governance, resilience and sourcing programs that can protect them from business relationships with concentration risk, restricted countries, unethical labor practices, counterfeit products and data protection violations,” said Jennifer Bisceglie, CEO and founder of Interos. “And that’s because we’re the only solution that continuously discovers risk in every part of a supply chain – physical or digital. Our clients don’t want to hear from the press that they have products on their shelves or components from companies using unethical labor practices or sourcing from embargoed countries.”
Using a variety of technologies, including a graph database, machine learning and NLP, Interos discovers hidden supply chains, business relationships and ecosystems. They score each vendor against multiple risk factors, including financial, governance, operational, geographic, and cyber. Interos’ workflow automates validation, triage and response to enterprise risk. With v2.0, the following features have been fully implemented in the platform:
-- Multi-Tier, Multi-Factor Risk Scoring:A comprehensive, summary view of your entire ecosystem with scoring along five key risk factors, providing rich insight at a glance. -- High Risk Outlier Detection: Machine learning parses 85,000 data sources and provides a continuously updated view of your highest risk suppliers with customized alerts for risk events, enabling truly continuous risk monitoring. -- Advanced Visualization: See your ecosystem how you want with a risk scorecard, network, hierarchy and geospatial views. -- Multi-Facet Filtering: Filter suppliers by country, risk factor, industry and tier. -- Detailed Risk Insights: See individual company risk profiles with detailed summaries of risk-relevant information backing up risk scores.
Interos cut its teeth on third-party risk management on the most complex hardware and digital supply chains: the U.S. Department of Defense F-35 aircraft, NASA and Department of Energy critical infrastructure. Today, Interos is a software-only company, using a variety of technologies to automate discovery of physical and digital business relationships by ingesting over 85,000 data sources updated with 100 events every 10 seconds into the world’s largest relationship database of 50 million companies – and it is adding more every day.
About InterosInteros Inc., (Interos.ai) located in the Washington, D.C. area, delivers actionable business intelligence, enabling organizations to make smarter decisions about their global supply chains. Interos visualizes relationships, assesses risk across 5 factors, and monitors business ecosystems in real-time. Interos serves customers in finance, manufacturing, aerospace, and the government.
For more information, visit https://www.interos.ai/.
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