Corcentric, a provider of business spend management and revenue management software and services, entered a partnership with supplier risk and compliance provider Beroe.

The integration of Beroe Know Your Supplier (KYS) with the Corcentric platform will offer Corcentric customers an opportunity to link supplier profiles with third party risk data providers by removing the need to strike individual agreements. Beroe’s KYS provides Corcentric Supplier Management customers information from providers of supplier risk data, including financial, reputational, sustainability and cyber risk information.

Over the last 12-plus months, organizations have been increasingly concerned about supply chain disruption. The lack of insight in supply chains is accentuated by the volume of supplier data and the need to tie the data back to risk. Poor supplier management processes and data infrastructures have traditionally made unifying supplier profiles with third party data in areas like financial, reputational, sustainability and cyber-risk too tedious and expensive.

“The inability to effectively link third party supplier risk data to wider supplier management efforts puts a massive strain on supplier risk mitigation and compliance assessments efforts,” Sean Regan, senior vice president of global alliances at Corcentric, said. “We are truly excited about this program with Beroe. This offering adds tremendous value to our customers for solving the supplier data collection challenge and truly gives them a competitive advantage in the ability to mitigate supplier risk and improve compliance.”

Accessed as an application within the Corcentric Supplier Management solution, organizations can now extend visibility by gearing up or down the number of suppliers and data sources they subscribe to within the Beroe KYS application.

“Companies are only as good as their supply chains, yet, unfortunately, these are vulnerable to disruption and unforeseen risks when suppliers are not effectively monitored. Beroe’s and Corcentric’s partnership further strengthens our efforts in enabling organizations to create a more resilient supplier risk program,” Vel Dhinagaravel, founder and CEO of Beroe, said.