ATLANTA – LexisNexis Risk Solutions, a data and analytics company, announced today its global alliance with POOL4TOOL, a leading procurement software vendor, to provide data that will help reduce supply chain risk and deliver world-class compliance management tools.
POOL4TOOL specializes in facilitating communication between systems and is among the leading solution providers on the international market, due to its high level of Enterprise Resource Planning (ERP) integration capabilities. 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 POOL4TOOL 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 POOL4TOOL, 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.
“The head of procurement within a business may be responsible for ensuring thousands of suppliers are operationally sufficient, financially stable, and meet corporate compliance objectives,” said Roger Blumberg, chief commercial officer at POOL4TOOL. “Proactively managing that number of 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, in addition to the new ISO 9001 certifications, compliance management is becoming a greater priority for companies with large and complex supply chains. Supply chain risks can pose a major financial and reputational cost, particularly for global corporations, and we are thrilled to be working with LexisNexis Risk Solutions in our efforts to offer actionable, insightful information to our customers.”
For more information about LexisNexis Risk Solutions, please contact Edda Rottscheidt, director, at firstname.lastname@example.org
For more information about POOL4TOOL, please contact Roger Blumberg, chief commercial officer, at email@example.com.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.