Supply Wisdom Announces Partnership with Fusion Risk Management to Enhance Third-Party Risk Management Effectiveness
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This integration will offer Fusion customers enhanced real-time visibility into potential supplier risk
NEW YORK – August 7th, 2024 – Supply Wisdom, the market's only full-stack, real-time risk intelligence SaaS platform powered by Artificial Intelligence (AI), today announced a partnership with Fusion Risk Management ("Fusion"), a leading provider of cloud-based operational resilience, business continuity, and risk management solutions. The partnership will offer Fusion customers a seamless integration for enhanced third-party risk management (TPRM) and operational risk and resilience program needs.
Organizations today face an intricate and risky vendor ecosystem that demands a deep understanding of the ongoing dynamics and impact of third-party engagements. Supply Wisdom's sophisticated solution – designed to reveal hidden third-party threats across financial, operational, ESG, compliance, Nth Party, and location risk – combined with Fusion Risk Management's robust platform, provides comprehensive risk intelligence and detailed insights into vendor viability. This allows organizations to have complete confidence in the security of their third-party relationships.
Integrating Real-Time Risk Intelligence for Proactive Third-Party Risk Management
"To ensure business continuity, organizations must correlate their dependency on third-party suppliers. To do this, they require deep, continuous risk intelligence to understand and mitigate potential vendor threats effectively,” said Tom Thimot, CEO of Supply Wisdom. "By partnering with Fusion, we are enabling more organizations to operate with greater confidence and resilience in an increasingly complex risk landscape. We look forward to working with the Fusion team further to provide customers with the tools they need to bolster their TPRM programs."
The partnership ensures organizations can make their TPRM and operational resilience programs more strategic and proactive, enabling cross-functional teams to safeguard the enterprise. Key benefits and features of the partnership include:
Continuous Monitoring: Continuous third-party monitoring allows organizations to swiftly identify and mitigate risks, ensuring the security and reliability of third-party relationships in real time – all within Fusion’s revolutionary platform, the Fusion Framework® System.
Risk Ratings: Organizations can make more agile and strategic business decisions by using risk ratings to identify their most critical vendors, and therefore where they need to place the most attention.
User-Friendly Dashboards: The integrated solution features comprehensive dashboards that help identify and assess service impacts by leveraging critical insights beyond the threat surface. Users have access to threat intelligence and metrics across a spectrum of key risk domains.
Action-Oriented Alerts: With automated daily notifications, organizations remain informed about heightened risks and vulnerabilities associated with critical vendors, resulting in improved response times and more effective risk mitigation strategies.
Empowering Organizations with Continuous Monitoring and Risk Mitigation Tools
“In today’s interconnected business landscape, organizations rely on hundreds – if not thousands – of vendor partners and third-party suppliers, which makes it incredibly difficult for them to understand the potential impact of supplier risk across their risk disciplines,” said Eric Jackson, CPO at Fusion Risk Management. “We’re excited to partner with Supply Wisdom and leverage their deep insights into third-party threats to offer our customers an enhanced solution to integrate third-party risk data into their internal risk management programs, seamlessly mitigate risks, and build true operational resilience across their extended enterprise.”
About Fusion Risk Management, Inc.
Fusion Risk Management is a leading provider of cloud-based operational resilience and business continuity software that empowers our customers to be agile in times of cascading crises. We help organizations drive the proactive business continuity and risk strategies they need to face growing threats and ensure their operations can bend but not break when faced with any challenge. More than 400 global organizations rely on Fusion’s solutions to unify risk across their enterprise, make data-driven decisions, and work seamlessly with their critical third parties to sense risks and mitigate disruptions. Learn more at www.fusionrm.com.
About Supply Wisdom
Supply Wisdom transforms global business with comprehensive, predictive, real-time risk intelligence. Through continuous monitoring, comprehensive intelligence reports, and real-time alerts, Supply Wisdom speeds business growth, lowers costs, increases security and compliance, and unlocks revenue opportunities. Supply Wisdom’s full-stack AI-based SaaS products turn open-source data into risk intelligence and are the market’s only software to cover all risk domains in real-time: financial, cyber, operational, ESG, compliance, Nth party, and location-based risk. Supply Wisdom clients include Fortune 100 and Global 2000 firms in the financial services, insurance, healthcare, and technology sectors, including United Healthcare, BNY Mellon, and Bank of Ireland. Supply Wisdom values diversity with a global workforce that is currently 57% female.
Learn more at https://www.supplywisdom.com.
Media Contact for Supply Wisdom
Aileen McNelis
NextTech Communications
Media Contact for Fusion Risk Management
Articulate Communications
