Equifax and Interos announced a partnership to offer businesses comprehensive supplier risk assessments in a time where planning for risk and disruption is the default rather than the exception.
Together, Equifax and Interos provide companies a 360-degree view of business partners and suppliers to map, monitor and model supply chains in real time, leveraging data-driven technology to help customers make better and faster business decisions.
According to Accenture, 94 percent of Fortune 1000 companies are seeing supply chain disruptions, and 75 percent of companies have experienced negative or strongly negative impacts on their businesses as a result, costing large companies an average of $184 million per year in lost revenue. Harnessing the power of artificial intelligence combined with differentiated business data from Equifax, the Interos Software-as-a-Service (SaaS) platform enables the real-time insights needed to help minimize this impact and decrease business disruption, helping companies preemptively identify risks before they occur.
“Supplier relationships are a key part of our customers’ success, but in today’s world, there are limited tools for assessing supplier stability and compliance,” said William Phelan, General Manager of the Equifax United States Information Solutions (USIS) Commercial business. “By harnessing the power of differentiated business data that ‘Only Equifax’ can provide in combination with Interos’ expertise in analyzing supply chains continuously and in real-time, our customers can realize a greater confidence in their supplier relationships. Additionally, our customers can monitor the health of their suppliers to highlight potential business disruptions before they occur, to stay out in front of problems.”
The combination of Equifax’s commercial credit and identity verification data on 32 million private companies, with Interos’ deep domain knowledge of supply chains, is designed to lower friction in business-to-business transactions and help manage potential supply chain disruptions. Spanning almost 350 million entities and over 18 billion business relationships, Interos’ living global map of the supply chain uses AI to model and transform the ecosystems of complex businesses down to any single supplier. This provides companies with continuous monitoring of six critical factors to help preemptively detect and eliminate risks – Finance; Operations; Restrictions; Geopolitical; Environmental, Social and Governance (ESG); and Cyber.
“As the past two years have brought to light vulnerabilities in supply chains across the globe, it is increasingly important that companies adopt intelligent tools that enable the smart, actionable insights they need to get ahead of the next crisis,” said Vinay Kapoor, Senior Vice President of Product at Interos. “Through our partnership with Equifax, our AI-powered technology combined with their suite of innovative data solutions brings real-time, continuous insight and operational resilience to every market around the world, helping customers identify and eliminate supply chain risks before they occur.”