riskmethods, which Spend Matters estimates is the fastest-growing supply chain risk management provider based on customer acquisition and year-over-year percentage revenue growth as of Q3 2016, is more than just a cloud-based provider of supply chain risk management software. It is a new type of supply chain intelligence utility. riskmethods combines risk management application functionality (i.e., management of risk types, monitoring, recovery workflows, etc.), a graphical cockpit, aggregated/curated market intelligence, machine learning algorithms (e.g., to reduce occurrences of false positives), human flagging/reviews/scoring, and guidance/recommendations. It is sort of the equivalent of a Bloomberg terminal for managing a risk portfolio in the supply chain – as opposed to managing a stock portfolio in the financial markets.
While the provider is still too small to have a solution that is “going viral,” given its limited sales and marketing footprint to date, its growth gives it a unique position in the market. This Spend Matters Plus analysis provides an introduction to the riskmethods solution for procurement organizations looking to understand whether they should consider adding the provider to their shortlists for consideration and competitive alternatives.