Interos has announced that it has significantly enhanced its AI-powered platform to deliver instantaneous visibility into the extended supply chains of organisations worldwide and to provide powerful continuous insight into three major risk categories impacting global vendor relationships: concentration risk; compliance with government prohibitions and restrictions; as well as Environmental, Social and Governance (ESG) transparency.
The company’s breakthrough SaaS platform allows private and public sector clients to map their global supplier relationships in real-time and continuously monitor risks including pandemics, natural disasters, cyber threats, unethical labour practices and financial vulnerabilities.
Jennifer Bisceglie, founder and CEO of Interos, said, “The cost of global supply chain disruption is an unsustainable expenditure that organisations cannot afford to ignore. We’ve made dynamic improvements to our industry-leading platform that will allow companies and government agencies worldwide to take the necessary steps to not only mitigate the impacts of supply chain shocks – such as the recent SolarWinds, Colonial Pipeline, JBS Foods and Kaseya hacks – but to avoid major disruption in the first place. When you’re dealing with these sophisticated supply chain cyberattacks, the threats are emerging deep down the chain as a multi-tier challenge to the continuation of business.”
Bisceglie, a supply-chain risk management expert, observes that traditional methods of semi-annual, manual vendor surveys fall far short of the multi-factor, multi-tier challenge presented by both digital and physical supply chains. The imperative today is for the C-Suite to adopt advanced technology for an integrated, comprehensive and continuous view of the risk landscape.
He said, “You cannot afford to focus on just one element, no matter how large a threat, such as cyber. You need real-time transparency into your comprehensive supplier map and the manifold risk factors that can upend things at any time: this is what the new release of our Interos Operational Resilience Cloud platform seeks to provide in terms of actionable, constantly updated data from a very wide set of sources. And it’s this comprehensive integration that gets you to operational resilience.”
Bisceglie notes that amid the unprecedented series of supply chain shocks to the global economy – including Covid, the Suez Canal debacle and more – a new international survey, the Interos Annual Global Supply Chain Report revealed that global supply chain disruptions cost large companies, on average, $184 million a year.
At its core, the Interos Operational Resilience Cloud maps, monitors and models the enterprise’s extended supply chain to identify, manage and reduce operational, reputational and compliance risk worldwide.
Last week’s massive supply-chain-focused ransomware attack on Miami-based IT management software provider Kaseya exemplifies the need for greater vigilance by both the public and private sectors.
Noel Calhoun, Interos CTO, observed, “In one global hack, these cybercriminals got Kaseya, Kaseya’s MSP customers and then the customers of those MSPs. That’s a lot of leverage, and that’s why supply chain attacks against software providers are potentially so dangerous. SolarWinds and Kaseya are not the only two companies that provide remote IT management software. One data point is a dot, two data points are a line. One has to assume now that this trend will continue.”