Name: Supplier risk management
Brand: Graphite Connect
Rating: 5 (1 reviews)

Graphite equips your team with tools to identify and mitigate supplier risk quickly. Automatically score supplier profiles, trigger pre-built risk remediation workflows, and monitor suppliers to prevent and resolve risk. Complete the form to learn more about Graphite’s supplier risk management solution.

Hassle-free risk management

Supplier risk management is an intricate and demanding process requiring intense focus and resources. Managing supplier risk by individually validating and evaluating suppliers, collecting security certificates, creating remediation strategies, and monitoring suppliers can become a significant task for procurement teams.

Graphite gives your team the tools to maintain a robust supplier risk management process with significantly fewer resources and less time.

Assess and manage supplier risk throughout the procurement process

Supplier onboarding risk assessment

Graphite Connect simplifies your supplier onboarding process. Our solutions are easy to use and advanced enough to help you detect and manage cybersecurity risks.

Authenticate and validate supplier data

Our platform authenticates and validates your new supplier data. This minimizes the risk of cyber threats from fraudulent or compromised suppliers.

End-to-end supplier management visibility

Graphite Connect supports end-to-end visibility of your supplier management. This detailed oversight allows you to quickly identify and address any cybersecurity vulnerabilities, securing your supply chain.

Why choose Graphite Connect?

Graphite Connect is built to lower the risk of supplier onboarding. Automatically score potential supplier profiles, assess supplier risk, and stay ahead of potential threats across your supply chain.

Supplier risk data validation

Graphite Connect’s automated data validation feature ensures your supplier information is always accurate and up-to-date. By integrating with trusted third-party data providers and using a team of validation experts, we minimize risks from outdated or inaccurate data.

Automated supplier risk assessments

With risk score visibility, your team can easily perform supplier risk assessments and due diligence tasks. This feature helps maintain a stable and secure supply chain by quickly identifying and addressing potential issues.

Supplier risk score visibility

Our platform provides visibility into your suppliers’ risk scores within their Graphite profiles. By establishing your unique risk criteria, Graphite Connect keeps your team informed of any threats.

Supplier risk remediation

Graphite Connect has pre-set remediation plans that notify your team when a supplier exceeds your acceptable risk threshold. You can initiate supplier risk remediation by assigning tasks to team members and informing suppliers of changes that must be made to continue doing business.

ERP and 3rd party integrations

Graphite Connect integrates with trusted partners or your current providers to supplement supplier data with third-party analysis and insights. This integration ensures a more detailed view of your suppliers’ cybersecurity status.

HealthEquity takes on supplier risk with Graphite

Before Graphite, HealthEquity collected only basic supplier information, and that data was managed manually, leaving few resources to strengthen and expand their supplier evaluation process.

Implementing HealthEquity has made life easier for stakeholders at HealthEquity by validating and centralizing supplier data, as well as automatically evaluating supplier risk.

Understanding supplier risk management

What is supplier risk management?

Forming a key part of an organization’s overall risk management strategy, supplier risk management is the process of tracking, assessing, and mitigating supplier risk.

Why is supplier risk management important?

Supplier risk management helps to avoid the financial, ethical, environmental, and reputational risks associated with suppliers. The greater the number of suppliers, the more significant the risk management process becomes. From delivery disruptions to compliance failures, there are a vast variety of risks that can compromise the resilience of your organization’s supply chain.

When should supplier risk management take place?

Risk management should be ongoing, and integrated into each step of the supplier management process. Risk management should be incorporated into supplier procurement, onboarding, and lifecycle management. Supplier risk management is particularly important during the vendor procurement stage, and a comprehensive supplier risk assessment featuring a supplier scorecard can help facilitate this.

How can Graphite Connect help you mitigate supplier risk?

Graphite Connect provides a robust supplier management system that equips you to assess and mitigate supplier risk. Easily validate and evaluate suppliers, carry out supplier risk assessments, collect security certificates, create remediation strategies, and monitor your suppliers over time to ensure compliance.

Improve your supplier risk management

With automated processes for validation, verification, and contract management, Graphite Connects helps you safeguard your business against potential threats and maintain high standards of compliance.

Ready to transform your supply chain management? Discover how Graphite Connect can help you reduce risk and streamline operations.