We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » COVID-19 Driving Urgency for Third-Party Risk Visibility, Market Leader Interos Growing Exponential
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

COVID-19 Driving Urgency for Third-Party Risk Visibility, Market Leader Interos Growing Exponential

 COVID-19 Driving Urgency for Third-Party Risk Visibility, Market Leader Interos Growing Exponential
July 9, 2020
No Comments

ARLINGTON, Va., July 09, 2020 (GLOBE NEWSWIRE) -- COVID-19 has dictated that companies across all industries urgently reevaluate third-party risk associated with their complex global supply chains and web of global business partners. Real-time, continuous monitoring of the health and stability of a company’s hundreds or thousands of business partners was virtually impossible before. Interos has cracked the code with the first and only AI-powered multi-tier, multi-factor third-party risk management platform. The company, today, announced unprecedented company and customer growth along with the hiring of a new Chief Technology Officer (CTO) and a new Chief Revenue Officer (CRO).

Since the start of major COVID-19 outbreaks in the US in March 2020, Interos has seen a 500% increase in inbound requests from current and prospective customers, which has played a major role in 961% revenue growth since January 2019. In March 2020, the company also announced plans to triple year-over-year sales growth alongside a $20MM Series B funding round.

“We’ve built the world’s largest business relationship graph, providing organizations with a multi-tiered picture of the level of risk and opportunity associated with their global business ecosystem,” said Jennifer Bisceglie, founder and CEO of Interos. “Before COVID-19, organizations knew they had a dangerous blind spot beyond tier-one suppliers and business partners but didn’t know how to solve it. Based on a deluge of inbound inquiries into our capabilities since March, it’s clear from conversations that the pandemic has made it a Board-level imperative to fix this quickly. This is a big data problem; operational resiliency is only feasible via comprehensive, continuous monitoring, and the application of AI.”

According to a recent Gartner report, out of the 60% of global companies and organizations that work with more than 1,000 third parties, only 27% perform ongoing monitoring and only 2% directly monitor fourth and fifth tier suppliers. By applying AI and machine learning, Interos currently monitors over 50 million entities globally across 85,000 data sources, processing 250 million risk events per month. This unprecedented visibility enables organizations to make decisions on how to reduce the impact of risk, quickly, and as it happens; compress supplier due diligence processes from months to minutes; and ensure the resilience of the most complex global supply chains and brands. Interos monitors suppliers across five key risk factors – financial, operational, governance, geographic, and cybersecurity with over 60 associated variables and growing.

“For many years, enterprises have collectively over-indexed on the cost side of the equation at the expense of risk and other value levers. This has left most supply chains facing massive unseen risk caused by a lack of visibility, interpretation, and action,” said Dr. Elouise Epstein, vice president at strategic consulting firm Kearney and noted procurement expert. “The way forward is to implement intelligent risk monitoring, overlaid with good strategy, and clear actioning -- ideally autonomously.”

To support Interos’ rapid growth in the market, the company has expanded its staff by over 40% so far this year and has projected to grow by 160% YoY in 2020. New executive hires include Noel Calhoun, CTO, who will head up Interos’ AI efforts. Calhoun previously served as CTO of the Central Intelligence Agency and most recently as CTO of Kensho Technologies, an S&P Global Company. Interos has also welcomed Eric Johnson as CRO. Johnson has led North American software sales teams at Sybase, SAP, and global sales teams at Blackberry and, most recently, Marketo (an Adobe company).

To learn more about Interos, visit www.interos.ai.

https://www.interos.ai/
Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
Technology Supply Chain Services Automatic Data Capture
KEYWORDS Interos
  • Related Articles

    Interos and RiskRecon Identify Vulnerable and Hidden Third, Fourth, and Fifth Party Suppliers

    DHL Supply Chain Named a Leader in 2019 Gartner Magic Quadrant, Third-Party Logistics Providers, NA

    CargoChain Announces VaxTracks—Visibility Tracker for the COVID-19 Vaccines

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Schneider welcomes first battery-electric truck

  • Fred Smith is not worried about Amazon

  • RJW LOGISTICS GROUP EXPANDS RETAIL LOGISTICS OPERATION TO DALLAS

  • Researchers: Ships can look to Mother Nature for energy-saving ideas

  • Maersk deploys indoor drones for warehouse inventory counts

Now Playing on DCV-TV

C8c3bc6b a91d 4181 a18f 35f288257630

ACPaQ: Fast and reliable automated mixed case palletizer

DCV-TV 4: Viewer Contributed
Fully Automated Mixed Case Palletizing ACPaQ is a universally applicable solution for fully automated order picking of mixed case pallets based on customers‘ requirements. Its software allows you to customize the palletizing order to increase efficiency during in-store replenishment. The mixed case palletizer...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing