LexisNexis® Risk Solutions and JAGGAER to Work Together Towards Reducing Supply Chain Risk
RESEARCH TRIANGLE PARK, NC – June 26, 2017 – JAGGAER, producers of the world’s most comprehensive Source-to-Pay (S2P) indirect and direct solutions suites, today announced its global alliance with LexisNexis® Risk Solutions, a data and analytics company. Collectively these companies will provide data that reduces supply chain risk and delivers world-class compliance management tools.
For LexisNexis Risk Solutions, this alliance will help deliver an efficient and reliable way for customers to assess the compliance and risk of supply chain vendors, from the vast quantities of data available.
“We are pleased to align with JAGGAER in our efforts to help our customers improve their supplier management solutions and reduce overall risk,” said Edda Rottscheidt, director, Business Risk Management, LexisNexis Risk Solutions. “LexisNexis Risk Solutions has long delivered effective and efficient screening and due diligence of global supply chain vendors by combining a best-in-class matching algorithm with access to the industry’s most robust screening data. Working with JAGGAER, we’ll continue to deliver technology that allows procurement leaders to more effectively assess global supply chain risk and comply with regulations.”
According to The Hackett Group’s Supply Risk Management Performance Study, for most companies, the most critical aspect of any supply risk management program is ensuring supply continuity. This includes guarding against supply bottlenecks, logistical issues, low stock and unexpected breakdowns. The second most critical driver for creating a supply risk management program is to ensure regulatory compliance.
“Proactively managing suppliers is a significant time and resource cost, and poses a massive risk to the company if a vendor fails to meet any of those standards. With increasingly new regulations, compliance management is becoming a greater priority for companies with large and complex supply chains. This relationship allows us to provide our customers with critical risk management information,” says Rob Bonavito, CEO, JAGGAER.
About JAGGAER: Global Indirect and Direct Spend Management Solutions
JAGGAER offers the only comprehensive and complete spend solution suites enabling commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world’s largest higher education, manufacturing, pharmaceutical, life sciences, automotive, engineering, construction equipment, serial production and medical technology companies. Our indirect and direct spend solutions suites collectively form a global network processing billions of dollars in annual spend between 900+ customers and 2.5 million suppliers. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from spend analysis to sourcing, through contract and supplier relationship management. Additionally, JAGGAER holds 38 patents, more than any other spend management company, and acquired POOL4TOOL in 2017. Learn how our solutions can power your organization.
About LexisNexis® Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.lexisnexisrisk.com.