Use artificial intelligence and a data-driven approach to understand your 3rd party risks by continuously monitoring them across multiple internal and external data sets.
Conducting business in an increasingly uncertain world requires organisations to better understand their 3rd party relationships. Verifying your suppliers is a critical activity that needs to be done when onboarding them and on a continuous basis thereafter.
If undetected these emerging issues can cause severe reputational or financial risk to your organisation.
Leverage AI and a data-driven approach to managing your organisation’s 3rd party risks and reduce the reliance on manual validation processes.
Identify potential sanctioned entities, politically exposed people, conflicts of interest, or collusion in real-time and assure executives that these risks are being managed and mitigated.
Perform the necessary checks on onboarding and continuously thereafter to mitigate against adverse changes in your supply chain.
Understanding changes in your vendor circumstances such as being in financial distress or the inclusion in a sanctioned entity list is critical for any organisation to know. However, your organisation’s response to these changes needs to be commensurate with your exposure to the vendor in question.
With this in mind, Satori will combine this information with internal data points based on your activity with that vendor (such as open contracts, open POs, historic spending, etc) to ensure that if your exposure from that vendor is high, you can respond in line with the urgency that it requires. Having all the facts in hand ensures that you respond in the appropriate manner.
Satori provides a level of independent assurance that the operational risk management and internal control frameworks are working as intended. They also ensure that these operations are complying with the relevant legislation and regulations relevant to their industry.
The combination of internal data from your ERP and procurement systems, combined with external data sources on an ongoing basis allows the generation of material insights needed to stay on top of continuous changes in your vendor landscape.
Satori is a Software as a Service that offers automated, AI-driven continuous monitoring across any vendor or 3rd party transacting with your organisation.
The Solution’s workflow manages exception output to ensure follow-up in a timely manner by the team or the person of responsibility. Each exception is investigated and closed out with a defined issue, action, and root cause.
Satori’s Dashboards provide management with real-time visibility on what issues are occurring and their root causes, enabling opportunities for process improvements.
Satori’s Vendor Risk Management solutions protects your business from financial and reputational risks. Satori continuously matches vendor master, employee master and related transactional data with the following 3rd party data sets.
Monitor key suppliers:
”Without Satori we would be 5 years behind on compliance framework activities, controls process maturity and internal policy compliance.
Large Retail & Hiring BusinessCommercial Process & Compliance Manager
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Delivering early identification for rapid response, Satori provides 100% assurance of mitigation and reduced financial loss by delivering highly targeted alerts regarding potential risk exposure related to an organisation’s suppliers.
Satori reduces manual activity by automating manual checks. Supported by our Managed Services team, it ensures complete accountability and coverage of this critical part of any business.
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