Ivalua & EcoVadis: Advancing the Management of ESG Risk
EcoVadis, a global leader in sustainability ratings, and Ivalua, a top provider of spend and supplier management software, have deepened their strategic partnership with a new integration that embeds EcoVadis IQ Plus directly into Ivalua's Risk Centre.
This enhances the existing integration of EcoVadis Ratings and provides procurement teams with real-time, data-driven insights to identify and manage sustainability and ESG-related risks across their supplier base.
The mounting pressure on global supply chains
As global supply chains place procurement teams under heightened pressure, they must navigate rising risk management costs, greater market volatility, geopolitical tensions, climate change and resource scarcity, all whilst facing increasing stakeholder expectations and regulatory demands.
Franck Lheureux, CEO at Ivalua, says: "By combining EcoVadis IQ Plus and Ivalua's market-leading capabilities, we enable organizations to address today's challenges and future-proof for tomorrow in a more efficient and cost-effective way.
"It's more than just displaying scores. With Ivalua, organisations can leverage EcoVadis insights wherever they want, across any processes to make better and faster decisions to proactively manage risks and drive sustainable practices."
- Increasing process complexities
- A growing number of risks to manage (ESG, operational etc.)
- A proliferating network of third parties, whose risks must also be managed
- Expanding regulatory requirements
Enhanced risk intelligence through strategic integration
The deepening partnership will help businesses to combat these challenges which procurement teams are facing, through the embedding of risk signal and sustainability intelligence from EcoVadis IQ Plus into Ivalua's platform, across any workflow, so users can visualise potential risk hotspots before engaging with suppliers.
Through the harnessing of predictive analytics and global risk indicators, this seamless connection equips decision-makers with data-driven insights at the earliest stages of the sourcing and supplier management process.
Transforming supply chain risk assessment capabilities
These new tools will give companies the ability to assess their third parties' ESG maturity earlier, more quickly and across a broader range of suppliers. With these insights, organisations can enhance their supply chain risk mapping capabilities to more efficiently and effectively assess and mitigate risk through key capabilities including:
- Risk mapping across the entire supplier base
- Faster qualification and screening of new suppliers
- Continuous monitoring of sustainability-related risks
- Improved decision-making for supplier selection and risk mitigation
EcoVadis' Co-Founder and co-CEO Pierre-François Thaler, adds: "Our partnership with Ivalua is grounded in a shared commitment to embed sustainability into procurement at scale to help organisations meet growing regulatory, investor, and customer expectations.
"Through this new data integration, we are empowering procurement and supply chain teams to proactively identify sustainability and ESG-related risks across their supplier base, faster and more effectively than ever before."
Explore the latest edition of Procurement Magazine and be part of the conversation at our global conference series, Procurement & Supply Chain LIVE.
Discover all our upcoming events and secure your tickets today.
Procurement Magazine is a BizClik brand.
