Avetta has launched Avetta Financial Risk, a tool for evaluating and monitoring the financial health of your supply chain, providing detailed financial metrics and ratings for accurate supplier evaluation. Using these scores, organizations can build compliance standards to manage potential risks better.
Integrated with the global information services company Experian, Avetta Financial Risk provides a supplier risk rating using these Experian-generated metrics: Intelliscore Plus and Financial Stability Risk Score. These tools can provide insight into a company’s overall financial health so businesses can effectively evaluate business risk for using specific suppliers on projects. Financial insights can be displayed in the customized Avetta dashboard so users can view their supply chain’s financial stability at a glance.
Intelliscore Plus is Experian’s business credit score model, providing a 1-to-100 risk score. The score considers more than 800 variables, resulting in a view of a supplier’s financial status. Using the score, companies can assess risk and reduce slow-pay and write-offs. The Financial Stability Risk Score also uses a risk rating of 1–100 to indicate a supplier’s potential likelihood of going bankrupt or defaulting on its financial obligations.
When there are questions about supplier stability, the Avetta Platform offers more detailed credit reports through Experian’s Business IQ portal. Companies can place certain suppliers on watchlists to monitor financial activities more closely. Financial numbers can also be compared to industry standards.
