IQ Plus Enhances EcoVadis' Predictive Intelligence With Automated Sustainability Data Mining Capabilities.
M2 PRESSWIRE-December 16, 2022-: IQ Plus Enhances EcoVadis' Predictive Intelligence With Automated Sustainability Data Mining Capabilities
(C)1994-2022 M2 COMMUNICATIONS
RDATE:16122022
Latest Innovations in the Risk Management Solution Reinforces EcoVadis Market Leadership of Sustainability Visibility and Insight
PARIS and NEW YORK - With organizations finding it difficult to gain complete visibility on the sustainability risks of their trading partners as supply chains grow increasingly complex, EcoVadis announces it has added AI and data mining enhancements to its market-leading predictive intelligence solution.
Companies require more intelligence and due diligence capabilities to help them efficiently comply with an evolving regulatory and risk landscape. IQ Plus addresses this need by providing organizations with immediate, broad visibility across their supply base. In addition to the existing country, industry and procurement intrinsic risk factors, IQ Plus expands each risk profile with supplier-specific insights on their transparency across all sustainability dimensions. This provides an even richer mapping of an organization's entire supply base for environmental, social and ethical risks and opportunities.
The next evolution of IQ Plus bolsters EcoVadis' purpose-led mission to influence every business decision with sustainability intelligence. The new advancements are a result of a strategic acquisition of sustainability data mining company ecotrek earlier this year, which followed a $500M investment that raised EcoVadis' status as one of the business sustainability sector's first "unicorns".
"We are entering a new era in business sustainability transformation where regulatory requirements demand broad transparency and deep risk insights across the value chain," said Madhur Aggarwal, chief product officer, EcoVadis. "With data mining and AI powered innovation, we aim to give our customers the confidence to accelerate their journey, stay ahead of their industry and play a leading role in the sustainability transition."
Now available worldwide, IQ Plus was market-tested in Germany where it is helping companies quickly address requirements of the upcoming German Supply Chain due diligence law (known as "LkSG" in German). Key new functionality includes:
- Company DocScan: Enhancements to the predictive risk level calculation for a supplier being profiled. This includes an AI-based automated scan and cataloging of supplier-specific and...
To continue reading
Request your trial