Beroe provides critical market information and analysis that enables companies to make smart sourcing decisions which lead to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
The Beroe Know Your Supplier (KYS) program serves as an extension of the Corcentric Supplier Management solution to assess 100% of a company’s suppliers across key risk and compliance parameters.
- Establish a more holistic view of suppliers based on company profiles and supplier risk information such as financial, environmental non-compliance, sustainability, ethical/regulatory non-compliance, cybersecurity, and labor, health, and safety non-compliance.
- Get an integrated and unified view of supplier risk while reducing the number individual agreements and the cost of supplier data management by leveraging via a single solution.
- Access unique ratings and proprietary risk scores from the leading data providers of supplier risk including financial (Dun & Bradstreet, Credit Safe), reputational (Dow Jones), sustainability (Ecovadis), and cyber risk (Orpheus).
- Establish unified supplier profile views within Corcentric Supplier Management to extend real-time visibility into other areas with dedicated supplier risk views integrated with Corcentric Supplier Performance and Supplier Information Management
- Invest in most your most critical or risky suppliers by gearing up or down the number of suppliers and data sources you subscribe to within the Beroe KYS application; manage base and gold packages granting more information depending on the subscription and need.
- Extend supplier risk, performance, corporate sustainability, and wider GRC assessments capabilities to monitor the supply base most critical to stakeholder requirements.
As an integrated part Corcentric Supplier Management, Beroe Know Your Supplier (KYS) provides critical market information and analysis that enables companies to make informed decisions about their supplier relationships to drive smart sourcing decisions.
Beroe Know Your Supplier (KYS) provides Corcentric Supplier Management customers information from the leading providers of supplier risk data including: financial (Dun & Bradstreet, CreditSafe), reputational (Dow Jones), sustainability (Ecovadis), and cyber risk (Orpheus) information.
Clients can determine how many suppliers need to be managed as part of their risk mitigation program, but customers must unlock a minimum of 50 suppliers’ data.
CreditSafe works on a scale of 1 – 100 and predicts the likelihood that a business’s payments performance will become seriously delinquent, defined as 90 days plus days beyond terms within the next 12 months or that the business will go bankrupt.
Customers can access a company profile based on Dun & Bradstreet information. Information includes DUNS number, company address, website, NAICs & SIC codes, and ownership type, and company hierarchy.
Dun & Bradstreet Supplier Evaluation Risk Rating (SER Rating) predicts the likelihood that a supplier will cease business operations or become inactive over the next 12-month period based on the depth of predictive data attributes available on the business.
EcoVadis provides Corporate Social Responsibility (CSR) ratings and scorecards covering 21 CSR Indicators, 190 commodities, and 150 countries. This is accomplished via 3 pillars: people, process, and platform. The EcoVadis CSR scorecard covers these key areas.
Dow Jones enables organizations to manage reputational damage by screening suppliers, vendors, customers, and other third parties to identify red flags. Dow Jones Risk & Compliance information enumerates and compiles adverse media articles across a variety of ethical and regulatory areas in addition to the OFAC global sanctions list. Areas covered include discrimination, human rights violations, workforce disputes, health/safety issues, corruption, fraud, regulatory, sanctions, environmental, and product service issues. This includes direct linked access to the news article source.
Orpheus is a specialist cybersecurity company that provides predictive and actionable intelligence, enabling businesses to anticipate, prepare for and respond to the cyber threats they face.
Customers utilize their supplier dashboard within Corcentric Supplier Management to monitor the risk associated with their suppliers based on the various risk components that they have chosen to monitor: Financial, Reputational, Sustainability, and/or Cyber Risk. Rating can be created by linking back to supplier scorecards and transaction impact on a common dashboard.
Top strategies for better managing supply risk
clearly define metrics
for supply performance and risk
centralize supplier information
in a centralized system or database
clearly define ownership
for managing supply risk