WNS Procurement enhances Supplier Risk Intelligence Solution with new AI-Driven alerts and automation upgrades to boost efficiency and insight

LONDON, 11 December 2024 — WNS Procurement, powered by The Smart Cube, a market leader in procurement and supply chain advisory, managed services, intelligence and analytics, and digital transformation, has revealed the latest updates to its Supplier Risk Intelligence solution. These updates enhance automation, usability, and real-time risk monitoring, enabling procurement teams to quickly gain actionable insights to help manage supplier risks.

Supplier Risk Intelligence (SRI) is an end-to-end risk monitoring and management solution that provides comprehensive visibility across financial, operational, legal, ethical, labour, and environmental risks. Powered by Smart Risk, WNS Procurement’s proprietary cloud-based platform, SRI integrates artificial and human intelligence to track supplier risks continuously and deliver proactive insights that help businesses respond to potential disruptions through the right actions, at the right time.

New and upgraded features include:

1. Automation enhancements to drive productivity while reducing costs:
   • Tripled risk scoring frequency: Risk assessments now run three times a day, reducing processing time by over 60%, while being able to cover larger volumes of data.
   • Excel add-in upgrades: Streamlined data management through faster financial analysis and improved user-to-supplier mapping.
2. Simplified supplier portfolio management:
   • Manual onboarding and supplier management replaced by a simplified process, improving efficiency and transparency for all stakeholders.
     • Supplier profile requests: Users can request supplier onboarding individually or through a bulk upload directly on the Smart Risk platform.
     • Email alerts for logs and status updates: Changes are captured on the platform and shared automatically via email with all stakeholders.
     • Supplier portfolio reviews: This feature displays a list of all suppliers, whether they are deployed on Smart Risk or not, and allows for requests such as supplier deep dives.

3. Improved intelligent alerts and briefings to access critical insights effortlessly. Following positive client reception of these features introduced in the previous upgrade, additional improvements cover:

• AI-driven disruption alerts: Automatically identify supply chain disruptions across multiple tiers, triggered by events such as natural disasters or material shortages. A new longitude and latitude risk analysis accurately predicts impacted suppliers within a defined geographical radius, which can be adapted to the severity of the event.
• Executive risk briefings: Periodic, customisable summaries of supplier portfolios provide key risk insights at a glance.

4. More sophisticated supplier classification and risk scoring, enhancing ease of access to information and improving risk management efficiency:

• Historical risk score visibility: Users can now track risk trends over time, providing deeper insights and valuable context.
• Supplier portfolio management: An intuitive interface provides recommendations to classify suppliers as strategic or transactional, alongside the corresponding level of risk assessment.

5. Enhanced functionality and accessibility
   • User management:
     • Expanded independence for users: Users have the option to self-sign up, control additional notification settings and map suppliers to themselves.
     • Dynamic user offboarding: Inactive users are identified and offboarded automatically, reducing the risk of unauthorized access.
   • Streamlined third party integration:
     • In addition to integration via REST APIs, Smart Risk can now be integrated with any third-party system via a dedicated iFrame webpage extension to provide key risk information directly on clients’ or partners’ systems (e.g. Coupa).

Sayan Debroy, Head of Supplier Risk Intelligence at WNS Procurement, said:

“The latest advancements to our Supplier Risk Intelligence solution leverage AI to process larger data sets more quickly, enhancing automation and delivering faster risk insights. At the same time, the expertise of our in-house team ensures that the intelligence generated is both actionable and relevant, helping clients make well-informed decisions in managing supplier risks. This blend of advanced technology and human insight allows procurement teams to respond more effectively to the complexities of today’s supply chains.

“The updates further build on existing features, including refined risk scoring and categorisation and AI-powered risk summaries, which provide businesses with early visibility into supplier risks.”

To find out more about how Supplier Risk Intelligence can help procurement teams proactively identify, monitor, and manage supplier risks to ensure business continuity and create value, visit our website.

– Ends –  

WNS Procurement, powered by The Smart Cube

WNS Procurement is a market leader in procurement and supply chain advisory, managed services intelligence and analytics, and digital transformation. It has the combined market differentiation of Denali, The Smart Cube and OptiBuy. 

Procurement teams of the Global 2000 across industries partner with WNS Procurement to become the top value creator in their business by implementing transformational operating models that are category-driven, insights-led and digitally enabled. 

We meet our clients where they are: assess, co-create and operate their end-to-end procurement ecosystem by implementing fully customized, next-generation operating models. 

Our solutions are powered by Artificial Intelligence (AI) and Human Intelligence (HI) – combining expert resources with leading digital technologies to help Procurement drive greater stakeholder value.  

https://www.wnsprocurement.com/  

About WNS

WNS (Holdings) Limited (NYSE: WNS) is a digital-led business transformation and services partner. WNS combines deep domain expertise with talent, technology, and AI to co-create innovative solutions for over 600 clients across various industries. WNS delivers an entire spectrum of solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of September 30, 2024, WNS had 62,951 professionals across 66 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, Malaysia, the Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, the United Kingdom, and the United States.

For more information, visit www.wns.com or follow us on Facebook, Twitter, LinkedIn, and Instagram.