Discovery Module by apexanalytix empowers organizations to identify and mitigate risks early by prequalifying suppliers before engaging in business with them. This proactive approach minimizes a company’s exposure to non-compliant or high-risk suppliers. The module integrates seamlessly with other apexanalytix solutions, providing a comprehensive supplier management ecosystem.

Features

• Inherent Risk Questionnaire: Buyers or procurement teams complete an Inherent Risk Questionnaire (IRQ) to capture vital data and calculate engagement-specific risk scores.
• Supplier Pre-registration: Suppliers are invited to pre-register online, and their submitted information is automatically validated.
• Supplier Database Creation: Approved supplier profiles are stored in a searchable database for further engagement.
• Streamlined Onboarding: Simplifies the onboarding process by ensuring only prequalified suppliers are considered.
• Integration with APIs: Allows clients to import pre-existing risk data from other systems, reducing manual intervention.
• Comprehensive Risk Assessment: Evaluates various risk factors, including cyber, identity, and financial risks.

Benefits

• Proactive Risk Management: Identifies and mitigates potential risks before they impact the business.
• Enhanced Compliance: Ensures compliance with international standards through real-time data validation and monitoring.
• Operational Efficiency: Reduces time to onboard suppliers significantly, improving operational efficiency.
• Accurate Data: Provides the most complete and accurate supplier data, enhancing decision-making and supplier relationships.
• Customizable: Infinitely configurable to meet the specific needs of complex organizations.
• Improved Supplier Relationships: Builds trust with suppliers by ensuring a transparent and efficient onboarding process.