RAGE Frameworks Announces Real Time Supplier Risk Monitoring, processing global events reported in 35 Languages

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RAGE Frameworks

Apr 30, 2014, 10:16 ET

WESTWOOD, Mass., April 30, 2014 /PRNewswire/ -- RAGE Frameworks, a provider of technology enabled solutions and services, announced today a major enhancement to its Real Time Intelligence [RTITM] product for Supplier Risk Monitoring, significantly enhancing its risk detection and early warning capability. RAGE's Supplier Risk Monitoring is now able to ingest and aggregate content in 35 languages, providing predictive insights to ensure continuity of supply, compliance and drive costs down dramatically.

Supplier Risk RTITM enables the unattended and continuous monitoring of suppliers, taking into account the specific operating context and environment [Industry, sector, macro-economic or geo-political] of each supplier individually. It provides automated analysis across hundreds of risk factors and across multiple supplier tiers empowering procurement leaders and specialists with a holistic and uncompromised view of supplier risk.

The procurement leader today is hamstrung by the following typical problems and has to settle for a narrow and partial view of supplier risk:

  • Inadequate budget and resources to meaningfully monitor even a small portion of the supplier base.
  • Supplier risk monitoring is infrequent, sometimes annual and sometimes event driven.
  • Tier-2,3,4 suppliers, often representing the biggest points of failure in the supply chain, are typically not monitored.
  • 2nd, 3rd and nth order effects are not systematically monitored. e.g. the effect of disruption of lumber supply from China to Brazil on a US based supplier. 
  • Traditional credit bureau analysis lacks early warning value.
  • News sites push the burden of reading and interpreting news right back on the overloaded procurement analyst.
  • Very little or no insights on international private suppliers.

The RAGE product is already addressing all these issues and providing continuous and comprehensive risk analysis.  To date, RAGE's RTI Supplier Risk Monitoring has helped save companies millions by triggering risk mitigation and avoidance actions based on early warning signals.

With this new multi-lingual release the product is set up to ingest and interpret events reported in the following languages:  Arabic, Bulgarian, Brazilian Portuguese, Catalan, Chinese, Japanese, Korean, Czech, Danish, German, Greek, English, Spanish, Basque, Persian, Finnish, French, Irish, Galician, Hindi, Hungarian, Armenian, Indonesian, Italian, Latvian, Dutch, Norwegian, Portuguese, Romanian, Russian, Swedish, Thai and Turkish.  Additional languages will be added on a regular basis.

The inclusion of local news in local languages will greatly enhance the early detection of risk, especially for private international suppliers, where coverage in the English media may be light or absent. 

RAGE's Supplier Risk RTITM product, which is currently used by some of the largest banks, manufacturing companies, high tech and consulting companies, is offered on a subscription basis. More information on Supplier Risk RTITM can be found at    
http://www.rageframeworks.com/supplier_rti/ 

About RAGE Frameworks, Inc.
RAGE Frameworks Inc. provides Business Process Automation and Semantic Intelligence solutions and products with the mission of bringing unprecedented Speed, Flexibility and Insight in solving the most complex and mission critical enterprise business problems. To learn more about RAGE, visit www.rageframeworks.com.

SOURCE RAGE Frameworks