Knowing the financial health of suppliers protects against supply chain interruptions
Performing daily checks of each active supplier’s credit rating keeps you informed of any reductions, which are an early indicator of the risk of a failure in your supply chain.
Suppliers won’t often warn you if they are experiencing financial difficulties themselves, which could put them in a situation where they can fulfil your orders. But credit rating agencies do provide this advance warning, and if you can bring regular, reliable credit rating monitoring into your P2P cycle, you will be forewarned of the potential risk of supply chain interruptions.
By combining analysis of supplier spend – to identify your priority suppliers, with a view of their credit rating over time, you will be in a better position to identify serious risks to your supply chain that may be averted if you act early.
View the credit rating and how it changes month-on-month
Combine with spend analysis to determine the significance of any risk
Combine with other risk analyses to determine the true severity
Make this a regular part of your P2P processing for early warning
Customer Success Stories & Testimonials
Solution Overview Brochure
Unnecessary cash leakage is caused by weak or out of date controls in procure to pay processing.
LSE Supplier Risk Intelligence Brochure
PLCs are facing an unprecedented level of risk in their Procure-to-Pay (P2P) cycle.