Interos, the operational resilience company, has significantly enhanced its AI-powered platform to deliver instantaneous visibility into the extended supply chains of organisations worldwide and to provide powerful continuous insight into three major risk categories impacting global vendor relationships: concentration risk; compliance with government prohibitions and restrictions; as well as Environmental, Social and Governance (ESG) transparency.
The Washington, D.C.-based company’s breakthrough SaaS platform allows private and public sector clients to map their global supplier relationships in real time and to continuously monitor risks, including pandemics, natural disasters, cyber threats, unethical labor practices, financial vulnerabilities and more.
“The cost of global supply chain disruption is an unsustainable expenditure that organisations cannot afford to ignore," says Jennifer Bisceglie, founder and CEO of Interos. “We’ve made dynamic improvements to our industry-leading platform that will allow companies and government agencies worldwide to take the necessary steps to not only mitigate the impacts of supply chain shocks – such as the recent SolarWinds, Colonial Pipeline, JBS Foods, and Kaseya hacks – but to avoid major disruption in the first place. When you’re dealing with these sophisticated supply chain cyberattacks, the threats are emerging deep down the chain as a multi-tier challenge to the continuation of business.”
Bisceglie, a recognised supply-chain risk management expert, observes that traditional methods of semi-annual, manual vendor surveys fall far short of the multi-factor, multi-tier challenge presented by both digital and physical supply chains. The imperative today is for the C-Suite to adopt advanced technology for an integrated, comprehensive, and continuous view of the risk landscape.
“You cannot afford to focus on just one element, no matter how large a threat, such as cyber. You need real-time transparency into your comprehensive supplier map and the manifold risk factors that can upend things at any time: this is what the new release of our Interos Operational Resilience Cloud platform seeks to provide in terms of actionable, constantly updated data from a very wide set of sources. And it’s this comprehensive integration that gets you to operational resilience.”
Bisceglie notes that amid the unprecedented series of supply chain shocks to the global economy -- including COVID, the Suez Canal debacle and more -- a new international survey, the Interos Annual Global Supply Chain Report, revealed that global supply chain disruptions cost large companies, on average, $184 million a year.
At its core, the Interos Operational Resilience Cloud maps, monitors, and models the enterprise’s extended supply chain to identify, manage, and reduce operational, reputational, and compliance risk worldwide.
The company’s unique platform features include:
- Visualize and explore your supply chain to the Nth tier -- seeing where your suppliers and sub-tier suppliers are located (down to the Congressional district level in the U.S. market, for example)
- Leverage the world’s largest business relationship knowledge graph so that you can understand – and optimize -- buyer and seller relationships
- Continuously monitor the health of your extended supply chain against six key risk factors
- The most comprehensive risk scoring methodology that includes a wide range of risk factors, variables, and attributes that filter at the firm, country, and industry levels
- Access through a SaaS application or via APIs that integrate the best operational resilience information into your business systems and data lakes
Some of the many supply chain uncertainties confronting the C-suite these days include:
- Ensuring suppliers and sub-tier suppliers are not on the denied entities list
- Evaluating and eliminating ESG risk exposure from your suppliers and sub-tier suppliers
Last week’s massive supply-chain-focused ransomware attack on Miami-based IT management software provider Kaseya exemplifies the need for greater vigilance by both the public and private sectors.
Noel Calhoun, Interos CTO, observes: “In one global hack, these cyber criminals got Kaseya, Kaseya’s MSP customers, and then the customers of those MSPs. That’s a lot of leverage, and that’s why supply chain attacks against software providers are potentially so dangerous. SolarWinds and Kaseya are not the only two companies that provide remote IT management software. One data point is a dot, two data points are a line. One has to assume now that this trend will continue.”