Atamis’ release of supplier performance risk management software gives public and private sector organisations unprecedented insight into supplier financial stability.
By accessing both current and historic supplier financial performance data through the Atamis platform, users can evaluate financial health, identify vulnerabilities, and make informed decisions before awarding contracts.
Improved Insights into Supplier Financial Data
Atamis users now benefit from deeper visibility into supplier finances, including detailed historical trends. This means procurement teams can move beyond surface-level checks and gain a clearer understanding of whether a potential or current supplier represents a risk to long-term delivery.
Features of Atamis Supplier Performance Risk Management Software
- Meets requirements for Government specified metrics: the system uses a traffic light system to classify contracts against the nine metrics specified by the Government to check financial stability. Users can designate contracts as critical or non-critical.
- Supports informed decision making for public sector procurement: Once a user is ready to award a contract, the system automatically generates the Government’s standard financial ratios. The ratios are used to assess the economic and financial standing of suppliers and companies bidding for contracts.
- Gives critical insight into bidders’ financial history: the collapse of Carillion in 2018 highlighted the importance of carrying out detailed financial due diligence during the procurement process. The feature provides information on annual returns, so users get a full historical and current picture of a company’s financial stability.
- Creates objectivity: the new feature ensures the procurement process is transparent, objective and non-discriminatory.
- Best-in-class data partners: Atamis has combined the abilities of two of the industry’s best business intelligence providers to provide its users with unparalleled insights into company performance. Dun & Bradstreet is providing supplier financial performance data while a DueDil API carries out automated company checks, eliminating the need for manual research.
Why Supplier Performance Risk Management Matters
The collapse of major contractors has shown how critical it is to identify risks early in the procurement process. Atamis’ supplier performance risk management software empowers organisations with the information they need to safeguard their supply chains, protect project delivery, and ensure value for money.
Smarter Procurement with Atamis
By integrating supplier performance risk management software into procurement processes, organisations gain confidence that contracts are awarded based on robust, objective, and transparent insights.
If you’re ready to strengthen your procurement strategy and reduce supplier risk, get in touch with Atamis today to discover how our intelligent solutions can support your organisation.
Frequently Asked Questions
What is supplier risk management?
Supplier risk management is about ensuring organisations have clear, data-driven visibility into the financial and operational health of their suppliers.
With Atamis, this involves using integrated financial performance data, government-specified metrics, and automated company checks to identify potential vulnerabilities before contracts are awarded.
How can organisations reduce supplier risk?
Organisations can reduce risk by using Atamis to access both current and historic supplier financial data. This allows procurement teams to evaluate suppliers’ financial standing against government benchmarks, highlight areas of concern, and make informed, objective decisions about whether to proceed with a contract.
What are supplier risk management software platforms?
Supplier risk management software platforms, such as Atamis, provide a centralised solution to assess, monitor, and manage supplier performance and stability. Atamis combines financial data from Dun & Bradstreet with automated checks through DueDil, giving users a complete and reliable picture of a supplier’s financial health without the need for manual research.
What are the key features of supplier risk management software?
With Atamis, the core features include:
- A traffic-light system classification for contracts based on nine government-specified financial stability metrics.
- Automated generation of government-standard financial ratios to support contract award decisions.
- Access to both historic and current supplier financial performance for deeper trend analysis.
- Integrated third-party data from trusted providers like Dun & Bradstreet and DueDil for streamlined due diligence.
- A foundation of transparency and objectivity to support compliant procurement processes.
What are the benefits of supplier risk management software?
Benefits include greater confidence in supplier selection, reduced risk of supplier failure, and enhanced transparency in procurement.
Additionally, for public sector users, Atamis ensures compliance with government financial ratio requirements and helps mitigate high-profile risks – such as those illustrated by the Carillion collapse through robust financial performance insights.
What are the key factors to consider when choosing supplier risk management software?
When choosing supplier risk management software, organisations should look for:
- Support for recognised government procurement standards
- Reliable integrations with trusted data providers
- Access to both current and historic supplier performance
- Transparent and objective evaluation frameworks
Atamis delivers on all of these critical fronts.
How does supplier risk management differ from operational and enterprise risk management?
Supplier risk management, as enabled by Atamis, is focused on the financial stability and performance of suppliers in the context of procurement. In contrast, operational risk management addresses risks within an organisation’s internal processes, while enterprise risk management covers risk across strategic, overall organisational objectives.