RapidRecap: Takeaways from SAP Innovation Day: Procurement Process and Supplier Relationships

RapidRatings Takeaways from SAP Innovation Day: Use AI, Data & Insights to Strengthen your Procurement Process and Supplier Relationships

Last week, RapidRatings gathered with industry leaders at the SAP Ariba Spend Connect Innovation Day in London, UK. The one-day client-focused conference featured presentations and discussions on new procurement and supply chain management technologies such as AI, industry trends, SAP Ariba’s upcoming product releases, and strategies to mitigate emerging procurement risks, including financial and ESG risks.

We heard from industry-renowned speakers such as Salvatore Lombardo, Chief Product Officer SAP Ariba, Etosha Thurman SAP ISBN CMSO, and Olympic Gold Medalist Dame Kelly Holmes.

We had the privilege of not only attending but presenting among the group. In our breakout session, ‘Unveiling the Four Fundamentals of Risk,’ we examined Babylon Holdings, a UK bankruptcy case study in which RapidRatings signaled high risk years prior to Babylon filing for bankruptcy in Aug 2023.

Our session emphasized how data-driven analytics can help businesses proactively manage supplier default risk. We highlighted the importance of continuous financial health monitoring, especially in today's challenging economic climate, affecting the smaller private companies given higher interest rates. We also discussed the foundational role of financial health in overall risk management and how we collaborate with companies like SAP Ariba to empower clients with stronger supplier risk management processes.

SAP Ariba works with world-class procurement and risk management organizations to ensure their clients have the gold-standard in technology and the right information at their fingertips to make better business decisions. We are proud to be a silver partner with SAP Ariba, leveraging our native APIs through our joint Supplier Risk solution, which provides our joint clients with direct access to Financial Health Rating data and detailed reports.

Thank you to SAP Ariba for their partnership, and Mo Ahmad, Head of SAP Ariba - Northern Europe for inviting us to participate in the SAP Spend Connect Innovation Day in London, UK.

Click to learn more about the RapidRatings Partner Program

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