Avetta: Intuitive and Adaptive Supply Chain Risk Management

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John Herr, CEO
For a long time now, the inability to foresee and address potential risks that could affect an organization’s supply chain has been a jugular issue for enterprises. 2016’s Hanjin maritime carrier bankruptcy, which sent shockwaves throughout the worldwide supply chainis one of the most notable disruptions in history. The need of the hour for organizations is a strong and flexible supply chain risk management system that helps with sustainability, reporting, analysis on effectiveness, training, on boarding, and resilience in the face of any kind of disaster. Enter Avetta’s cloud-based supply chain risk management platform--a unique solution with dual-purpose that transforms the way organizations assess and mitigate risks as well as bring large scale global suppliers and contractors, all under one umbrella. John Herr, CEO of the company says, “Enterprises are always at risk for losses that may arise due to factors such as cost volatility, supply disruption, non-compliance fines, or safety incidents. Hence, knowing what’s at stake is critical.” To that end, through its platform, Avetta is bringing transparency to the global supply chain environment.

Avetta’s credentialed safety, sustainability, and insurance specialists, have years of deep domain experience. They handle the entire supplier vetting process and present all of the findings through the company’s SaaS platform, making it easy for organizations to ensure they are working only with the most qualified suppliers. Currently, Avetta’s supply chain platform is used by over 300 world-class companies across 125 countries, spanning industries such as oil and gas, construction materials, transportation, and telecommunications. “The value we provide for our customers comes from the blend of our in-house expertise and our award-winning technology,” mentions Herr.
An intriguing factor that truly differentiates the company is their five Cs approach to helping clients with risk management: configurability, coverage, customer experience, cost efficiency, and customer co-innovation. Unlike most one-size-fit-for-all supply chain solutions, the platform’s competency to cater to individual client needs and provide a simple, fast, and intuitive user experience is what makes them second to none. Furthermore, Avetta can also calibrate its software solution irrespective of supply chain size.

Designed to provide a holistic view of an organization’s supply chain, Avetta’s turnkeysolution consists of a four-level risk management system and a robust reporting tool. Together they singlehandedly assist enterprises in mitigating risks, managing documents, auditing, employee training, insurance verification, and business intelligence. First of the four is DocuGUARD, Avetta’s pre-qualification and document management service that ensures fast and accurate collection and verification of supplier data. “It is the foundation on which the other three systems—InsureGUARD, AuditGUARD, and EmployeeGUARD are built,” adds Herr. DocuGUARD also houses a question engine that allows enterprises to seek information from the supplier and then audit them before striking a deal. “The multi-layered system not only helps improve the workflow but also significantly reduces the cost that traditional, labor-intensive database risk management carries,” expresses Herr.

With a focus on accelerated growth, the company plans on upgrading its platform to offer more products and services that will eventually lead Avetta to be recognized as the world’s leading innovator in sustainable supply chain risk management. Avetta is also expanding its geographical footprint globally. “We are growing at an astounding rate of 30 percent per year and lot of it is attributed to the global appeal of our solutions portfolio,” wraps ups Herr.

Avetta News

Avetta Launches New Technology Platform, the Most Configurable and Easy-to-Use in the Industry

OREM, Utah - Avetta, the leading provider of supply chain risk management, connecting organizations with qualified and vetted suppliers, contractors and vendors, has launched a new technology platform named Connect. The platform is the most configurable and easiest to use in the industry, enabling clients to configure goals, create and customize analytic dashboards, modify processes, and produce reports that will improve safety and compliance for their supply chain operations. The focus on simplicity of the new Connect platform will enable Avetta’s 450+ global clients and 85,000+ contractors and suppliers to connect anytime, anywhere in over 100 countries around the world regardless of the user technical skills.

Avetta’s analytics is a game-changer for its customers, providing the ability to bring data from many sources into one cloud-based platform to manage supply chain risk with customized dashboards and visualizations. Customers can build their own tables, charts, filters, and groupings to create interactive reports and dashboards for a high level of visibility into areas of concern, such as missing information, high incident rates, and historical trends.

Its predictive analytics functions are highly interactive and allow clients to see both retrospective and current trends, helping them to view past performance and determine the likelihood of job completion according to requirements. Customized reports can be easily downloaded and set up as an ongoing subscription as well. All of these things can be completed within the platform without having to export to external programs for data modeling purposes.

“Avetta’s advanced analytics not only improve visibility and control for current and future supply chain risk management issues, but also impacts safety and compliance, which saves lives,” said John Herr, CEO of Avetta. “Both clients and suppliers can reduce risk, enhance compliance and grow their businesses through the use of Avetta’s advanced analytics. Avetta contributes to creating safer workplaces, ensuring that workers return home safely each night to their families.”

Co-innovation is a key part of Avetta’s technology development process. Working closely with clients and suppliers to create an evolving user interface (UI) has produced a highly organized platform that is easy-to-use, saves time and aggravation for both sides of the supply chain risk management equation. The platform delivers the ability to make rapid changes in requirements and rules and permits vendors to easily respond to their potential clients’ needs. The platform is highly compartmentalized so that a single change doesn’t impact other areas.

“The Avetta platform can be configured to serve any industry, tailored to a client’s specific needs,” said Kevin Berens, chief product officer of Avetta. “The platform supports 18 languages around the globe, and users are able to access their customized system from any device, at any time.”

The platform provides unlimited connections between clients and suppliers and can be integrated through an API to client accounting, ERP and other systems quickly and easily. The system can be localized to almost any language.

Avetta helps companies worldwide with supply chain risk management, enterprise and workplace safety through contractor management and prequalification with a SaaS-based system that is the most configurable in the industry. With Avetta, a leading chemical company decreased its Total Reportable Incident Rate (TRIR) rate by 74 percent, and a leading telecom company saves $100,000 per year in administrative expenses through a more streamlined safety and insurance verification process.

Wealthfront chose Avetta as one of the best companies in the United States to launch a career in 2018. The company was also selected as a Readers’ Choice by Canadian Occupational Safety magazine, and Spend Matters named Avetta one of “50 Providers to Know.”

Company
Avetta

Headquarters
Orem, UT

Management
John Herr, CEO

Description
Avetta is a supply chain risk-management platform with options of connecting with a commercial marketplace of leading organizations and suppliers. With a perfect mixture of global reach and local expertise, Avetta manages hundreds of international organizations’ supply chain to viable business practices. Right from prequalifying suppliers for reduced risks through supplier audits, insurance monitoring, analytics to systems integration, Avetta does all the heavy lifting allowing the organizations to concentrate resources on other developments. Serving a range of industries like oil and gas, chemical, energy, telecommunications, transport, pharmaceutical and manufacturing, Avetta saves time and ensures efficiency.