Here’s How You Can Conduct Supplier Audits While Working From Home
by Source Intelligence
on November 17, 2020
Source Intelligence has designed an AI-powered virtual supplier audit solution so businesses can conduct comprehensive audits without having to leave their at-home desks.
Carlsbad, CA: Source Intelligence, a SaaS company providing compliance data on supply chains for over 50 global regulations, has an award-winning vendor management platform that allows businesses to conduct full supplier audits virtually. Source Intelligence’s virtual auditing collects and validates supplier compliance data in multiple categories, assigns unique risk-scoring attributes to each assessment, and aggregates real-time risk KPI’s. This allows a full view of suppliers and better allocation of resources to high-risk facilities.
Due to the pandemic, much of the world is working from home and travel is restricted, making traditional supplier audits increasingly difficult. Additionally, traditional audits are costly at a time when businesses are trying to stay afloat financially. According to Source Intelligence’s President and Co-Founder Matt Thorn, “It’s our mission to provide the tools businesses need to stay compliant affordably. Especially now, it’s more important than ever to leverage the latest technology advances. We’re proud that our customizable Virtual Audit platform provides a solution for businesses to increase their supply chain visibility at a time when traditional audits are restricted.”
A virtual supplier audit solution means businesses can keep data on their supply chain partners in a centralized location and combine it with compliance data. Additional benefits include:
Receiving real-time updates on high-risk areas
Reducing the need for in-person facility audits
Cutting total audit costs
Accessing comprehensive supplier data for risk management
Easily conducting multiple audits per year
This year has revealed many supply chain risk management issues in traditional practices and has put transparency in the spotlight. Virtual supply chain audits provide an easy solution to a complex problem and provide the timely data businesses need to mitigate risks.
About Source Intelligence: Source Intelligence has been automating supply chain compliance for over a decade. Source Intelligence uses AI and machine learning technology to gather and validate supply chain data for over 300,000 companies for due diligence, regulatory compliance, risk management, and ESG initiatives. To learn more, visit www.sourceintelligence.com.