NEW YORK--(BUSINESS WIRE)--Supply Wisdom – the leader in continuous risk intelligence and risk actions -- announced today its recognition as the Third-Party Risk Product of the Year by the Risk.net 2021 Risk Technology Awards.
“We are incredibly proud to be recognized as the Third-Party Risk Product of the Year,” said Atul Vashistha, CEO of Supply Wisdom. “This recognition from Risk.net validates the value that our unique and patented risk management solution provides to our clients. It is a reflection of our passion, client engagement and relentless pursuit to leverage the latest advances in automation and data science for risk management. Our goal is to elevate the entire risk intelligence space beyond legacy practices that leave organizations struggling to keep up with today’s dynamic risk landscape.”
The Risk Technology Awards recognize vendors doing the most to help the industry meet its various challenges in the fields of asset liability management (ALM), credit and operational risk, as well as wider enterprise risk management. Winners are determined by a panel of judges, selected by the editors of Risk.net, including technology users, risk management practitioners and members of the editorial team.
Supply Wisdom was evaluated on product match to third-party risk industry needs, differentiation from other vendors, recent innovations, and how it enabled a better COVID response for its clients.
“The judges were impressed by Supply Wisdom’s risk monitoring innovations, specifically in regard to the enablement of swift course correction as data points evolved and their patented process to aggregate data from many disparate sources to provide a comprehensive view of risk,” said Erin Joyce, Manager, Risk Technology Awards.
In the last year, Supply Wisdom has incorporated many enhancements into its continuous, comprehensive risk monitoring solution. The updates include the increased use of automation and the addition of ESG and Nth Party risk domains to its Financial, Cyber, Operations, Location and Compliance risk framework. In recognition that today’s expanded risk landscape has placed an inordinate amount of pressure on risk teams, Supply Wisdom increased adoption of automation, AI, and data science to improve effectiveness and efficiency of the solution. These enhancements enable a significant portion of risk actions to be automated, allowing risk teams to focus their limited resources to the most critical risk mitigation strategies.
In July, Supply Wisdom also was recognized at the 6th Annual 2021 American Best in Business Awards as a Gold Globee® winner for Risk Management Solution Innovation and a Bronze Globee® winner for Company Response of the Year.
For more information on Supply Wisdom, visit https://www.supplywisdom.com/.
About Supply Wisdom
Supply Wisdom is globally transforming the third-party and supply chain intelligence space. Supply Wisdom solutions deliver continuous risk intelligence across the widest risk aperture enabling enterprises to understand the health and risks of their supply chain in near real-time, thereby minimizing the risks of disruption facing their business, supply chains and third parties.
About the Risk.net Awards
The 2021 Risk Technology Awards recognise vendors that have excelled in helping the industry meet its various challenges in the fields of anti-money laundering, credit and operational risk, as well as wider enterprise risk management. The award winners were decided by a judging panel, consisting of technology users and the editors of Risk.net, and based on the strength of entries alone. These awards include 21 categories, focusing on enterprise risk, operational risk and credit risk.
Learn more about the Risk.net Awards at https://events.risk.net/technologyawards
See the complete list of 2021 winners here: https://www.risk.net/awards/7860541/risk-technology-awards-2021