Argos Risk’s flagship solution, AR Surveillance™, provides manufacturers insight to assess supplier risk levels and reduce third-party credit risk
MINNEAPOLIS, MN, February 20, 2020 - Argos Risk, a leading provider of Third-Party Risk Intelligence (TPRI) services for managing and monitoring the financial viability and overall business health of third-party relationships, today announced its partnership with ManufacturingPower. ManufacturingPower serves small to mid-sized manufacturing companies providing historical and peer-to-peer market data on vendors and products to improve cash flow. This partnership benefits their customers by providing risk mitigation tools and insight into the viability of the manufacturers’ supply chain.
“For procurement departments, information is power. Small to mid-sized manufacturing companies need product pricing and vendor data for supply chain optimization. Our powerful analytics strengthens the buyer's negotiating position, drives better pricing and thereby reduces cost. Combined with the insights gathered in Argos Risk’s AR Surveillance, our partnership will now allow the manufacturer to also quickly and easily assess and monitor the business viability of any commercial supplier,” said Mike Franz, Founder, and CEO of ManufacturingPower.
AR Surveillance leverages more than 10,000 data points to assign risk scores to a company’s third-party relationships. It automatically generates and sends alerts about significant changes, such as lawsuits, liens, mergers, acquisitions, key executive changes, and other material news and events. AR Surveillance provides key information into a supplier’s operations, including financial viability, current trade payment behavior, business health, industry outlook, and much more.
“Much like the financial services industry, it is clear, manufacturers are monitoring their credit risk closer. Risk mitigation is a significant business factor and critical to the success of any business,” said Lori Frank, President, and CEO of Argos Risk. “Finding the right balance between selecting suppliers and interpreting the financial viability of a business can be challenging and extremely labor-intensive. We are pleased to announce the partnership with ManufacturingPower and look forward to helping small to mid-sized manufacturing companies mitigate their supplier risk.”
About Argos Risk
Argos Risk is a leading provider of Third-Party Risk Intelligence solutions. Over the past decade, Argos Risk has fulfilled a need for timely and comprehensive risk mitigation knowledge with third-party risk intelligence. Argos Risk provides innovative and affordable subscription services to help companies manage the risk associated with their third-party relationships in Supply Chain Management, Vendor Management, ACH/RDC origination, and Direct and Indirect Lending.
ManufacturingPower, provides WorkCenter which is a cloud-based market intelligence solution. WorkCenter is designed to help small to mid-sized companies streamline and achieve real-time visibility into Industrial Supply spend, collaborate better with suppliers, mitigate overpayment risk, and realize significant cost savings. Headquartered in St. Paul, Minnesota, and growing a peer-to-peer network of manufacturers, distributors, and OEM's, WorkCenter offers price comparison access to over 1 million-part numbers. To learn more, please visit www.manufacturingpower.com.
Argos Risk, LLC
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