Driven by the need to manage financial compliance and geopolitical risk, company adds new SaaS customers across financial services and technology industries
Supply Wisdom, the market’s only full-stack, real-time risk intelligence platform powered by AI, today announced the company has launched a self-service, SaaS-based model for organizations in need of real-time risk monitoring. As quickly evolving geographic factors continue to drive severe business disruptions, Supply Wisdom is seeing more organizations operationalize location-specific risk into their decision making.
Supply Wisdom added three Fortune 100 customers to its client roster in December of 2023, adding to the company’s 77% year-over-year revenue growth (2022-23). The new clients are:
- One of the four largest banks in the U.S.
- One of the three largest shipping companies in the world.
- One of the leading financial services and insurance companies in the U.S.
To meet the rising demands of stricter regulations and mounting geopolitical risk, organizations are fast-tracking procurement, onboarding, and implementation of risk intelligence and continuous monitoring. From the research stage to execution, each of Supply Wisdom’s new SaaS customers was able to start using the platform within the month of December. With Supply Wisdom’s real-time risk intelligence, organizations can monitor over 150 metrics across eight location risk subdomains, which include ratings and event alerts, within a matter of weeks.
“Firms are starting to recognize that geographic concentration is a common risk indicator raised by DORA (Digital Operational Resilience Act) and many other recently introduced regulations, yet they lack adequate risk intelligence and the tooling needed to operationalize risk management. The days of hiring and training scores of staff to compile and aggregate data reporting manually are over,” said Tom Thimot, CEO of Supply Wisdom. “As a result, we are seeing more Fortune 100 companies across industries turn to Supply Wisdom for real-time risk intelligence. Through immediate insights, businesses can respond more quickly to minimize or avoid the potential impact of global threats.”
Closing 2023 with 33 marquee customers, Supply Wisdom serves as a provider of critical risk intelligence to 12 of the Fortune 100 companies and 17 of the Fortune 500 across industries such as financial services, telecommunications, health care, transportation, government, and technology. With category-leading adoption among top institutions across industries, Supply Wisdom in 2023 grew its annual recurring revenue (ARR) by 77%.
More organizations are rethinking risk management, transitioning from disparate data sources like email, spreadsheets, and samples to a centralized, data-driven approach that helps predict events. In fact, 63% of organizations plan to integrate external data providers and automation to better manage inherent risk assessments in the next two to three years, according to a recent EY study.
Supply Wisdom’s full-stack AI-based SaaS platform turns open-source data into risk intelligence and is the market’s only software to cover all major risk domains in real-time: financial, cyber, operational, ESG, compliance, Nth party, and location-based risk. Supply Wisdom monitors continuously for 300+ risk indicators, to help accelerate the speed of business by allowing risk managers to engage new suppliers and enter new markets quickly. With a net customer retention rate of 102%, Supply Wisdom customers are seeing as much as 311% return on investment.
To start a free, two-week trial, organizations can sign-up for real-time alerts on specific third parties and locations.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240117041043/en/
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Erin Harrison
NextTech Communications
eharrison@nexttechcomms.com
