Aravo and RapidRatings Enhance Integration to Manage Third-Party Resilience
July 26, 2022
SAN FRANCISCO AND NEW YORK (PRWEB) JULY 26, 2022
Updated Integration from Long-Time Partners Aravo and RapidRatings Gives Clients the Ability to Take Action on Robust Financial Viability Intelligence to Prevent Supply Chain Disruption
Aravo and RapidRatings today announced a next-generation integration of Aravo’s leading solution for third-party risk and resilience and RapidRatings’ financial health intelligence. Within the Aravo Connector for RapidRatings, joint clients can access deeper analysis and actionable insights into the financial health of third-parties through additional key risk indicators and reports, while leveraging Aravo’s intelligent automation to avoid disruptions.
“Economic uncertainty has increased the focus on third-party resilience, including financial viability,” said Rick Goad, vice president of customer success and strategic alliances, Aravo. “Partnering with RapidRatings gives our clients insights into the financial outlook of their critical third parties in the context of overall risk. Aravo’s intelligent automation operationalizes those insights to manage escalation and mitigation to help ensure resilience of third-party ecosystems.”
“We’re excited to have our mutual clients operationalize their financial health ratings into their workflows in Aravo and gain efficiencies,” said Eric Evans, managing director, partnerships and alliances, RapidRatings. “The Aravo Connector for RapidRatings will easily enable our clients to build a more resilient, scalable supply chain.”
In a recent survey conducted by Aravo, managing financial viability risk is one of the areas that saw the largest year-over-year increase. About 43% of organizations surveyed are taking advantage of financial health data, like that delivered by RapidRatings, to inform and validate their programs.
Organizations can use the Aravo Connector for RapidRatings to initialize financial viability assessments for public or private companies during onboarding, on-demand, or on an ongoing renewal basis. Users can view risk ratings, estimated probability of default insights, and other key financial information directly within the Aravo interface and take appropriate action. They can also access RapidRatings’ FHR® report, Financial Dialogue, and Peer Benchmark reports. Additionally, clients have the option to invite their supplier organizations to participate in RapidRatings’ FHR Exchange™, a secure membership platform to share and access real-time financial health ratings, analytics, and other critical information.
RapidRatings® sets the standard for financial health transparency between business partners, transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in over 140 countries worldwide. The company’s predictive analytics provide insights into how suppliers, vendors, and other third parties are likely to perform. For more information, visit rapidratings.com.
Aravo delivers the market’s smartest third-party risk and resilience solutions, powered by intelligent automation.
For more than 20 years now, Aravo’s combination of award-winning technology and unrivaled domain expertise has helped the world’s most respected brands accelerate and optimize their third-party management programs, delivering better business outcomes faster and ensuring the agility to adapt as programs evolve.
With solutions built on technology designed for usability, agility, and scale, even the most complex organizations can keep pace with the high velocity of regulatory change. As a centralized system of record for all data related to third-party risk and resilience, Aravo helps organizations achieve a complete view of their third-party ecosystem throughout the lifecycle of the relationship, from intake through off-boarding and all stages in between and across all risk domains.