NEW YORK–(BUSINESS WIRE)–RapidRatings, the leader in financial health ratings, and EcoVadis, the world’s most trusted provider of business sustainability ratings, today announced a partnership that blends predictive financial analytics with reliable sustainability scorecards to deliver vital transparency into business relationships. The partnership equips procurement, risk, and compliance professionals with a holistic and actionable view of third-party risks and supplier financial health, enabling companies to address risks head on, protect the brand reputation, and accelerate growth.
Companies today are competing in a global marketplace where supply chains are more complex and wider-reaching, bringing an expanded set of risks to the equation. Those organizations that can minimize effects of disruptive events are well-positioned to gain competitive advantage in their respective industries. The partnership between RapidRatings and EcoVadis will help market leaders reduce these risks and drive business value through securing verified, detailed information on third-parties, and help these partners improve overall supplier performance.
To learn more about the benefits of leveraging financial health and sustainability ratings to build resilient and responsible global supply chains, access the webinar, “Managing Suppliers in a World of Innovation.”
“The trend towards more complexity of global supply chains means there are more areas of risk exposure for the company. In teaming up with EcoVadis, our goal is for mutual clients to gain visibility into supplier financial health and sustainability ratings, supporting a thorough supplier risk assessment,” said Eric Evans, Managing Director, Business Development at RapidRatings. “The combined insight from RapidRatings’ analysis of public and private Financial Health Ratings and EcoVadis’ CSR ratings and scorecards will allow global companies to build more ethical supply chains while maintaining business continuity and operational resilience.”
“Sustainability issues are now primary risk factors for organizations, and companies don’t always have a full view of their exposure in the value chain. The environmental, labor and human rights, and ethical performance indicators provided by EcoVadis are a powerful complement to RapidRatings’ data, completing the puzzle for procurement managers looking to get a strategic view of their entire global supply chain,” observed David McClintock, Marketing Director at EcoVadis.
RapidRatings is transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in the world. The company’s analytics system provides predictive insights into third-party partners, suppliers, vendors, customers and securities issuers. Every business conversation becomes more productive, transparent and efficient with the RapidRatings’ Financial Health System. For more information, visit www.rapidratings.com.
EcoVadis is the world’s most trusted provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. Backed by a powerful technology platform and a global team of domain experts, EcoVadis’ easy-to-use and actionable sustainability scorecards provide detailed insight into environmental, social and ethical risks across 190 purchasing categories and 150 countries. Industry leaders such as Johnson & Johnson, L’Oréal, Nestlé, Schneider Electric, Michelin and BASF are among the more than 45,000 businesses on the EcoVadis network, all working with a single methodology to evaluate, collaborate and improve sustainability performance in order to protect their brands, foster transparency and innovation, and accelerate growth. Learn more on ecovadis.com, Twitter or LinkedIn.
This article originally appeared on Business Wire.