CreditRiskMonitor operates a supply chain information platform called SupplyChainMonitor that provides nearshore and frendshore related services.
The platform leverages its expertise in financial risk analytics to create a risk management solution designed specifically for procurement, supply chain, sourcing and finance personnel involved in supplier lifecycle, risk assessment and ongoing risk monitoring.
As such, users can assess counterparty risks at an aggregate and granular level across a variety of categories including geography and industry, and customized, customer-specific configurations.
In particular, the platform offers mapping capabilities with real-time overlays of weather events, natural catastrophes and power outages, as well as customizable news notifications, reports and graphs.
The company expects the driving forces behind the adoption of its new SupplyChainMonitor product to be material shifts away from globalization, offshoring and the logistical complexity required to support just-in-time inventory models due to geopolitical and macroeconomic pressures.
As companies look to nearshore, friendshore and relocate supply centers away from regions with national security or concentration issues, they will need comprehensive data on alternative suppliers and the financial stability of those alternatives.
Nearshore
The company’s core value proposition in this regard is to help its underwriters focus on finding suppliers that are financially durable, as companies with this core attribute have more resources to support other key initiatives, such as investment in Research and Development (R&D) or Quality Assurance/Quality Control (QA/QC).
CreditRiskMonitor reports, on either platform, include company background information, trade payment information, as well as public records (i.e., lawsuits, liens, judgments and bankruptcy information) on millions of companies worldwide.
With records for just over 30 million companies worldwide, predictive risk scores for approximately 5 million and Tier 2 payment data for approximately 4 million companies, the SupplyChainMonitor product provides practical information for sourcing risk management.