Avetta/Browz – A Smart Move in the Supply Chain Risk Management Market (Part 2)

Yesterday we spoke with John Herr, CEO of the combined Avetta/Browz company, and Richard Parke, SVP of Operations, about the recent merger and its implication for the UK. Today, we talk to them about what the future holds, and we begin by asking them:

What differentiates Avetta from its competitors?

“The answer to that lies in what we call our 5 Cs:

  1. Configuration: we custom configure the platform for the customer; making sure the platform is flexible from client to client as well as from industry to industry.
  2. Coverage: 125 international countries with the broadest coverage of product suite and the broadest coverage of industrial verticals and localised languages.
  3. Customer Experience: making the platform easy to use and providing the resources need to successfully manage risk. We spend a lot of time on this and want to be the iPhone of this industry.
  4. Cost Efficiency: other firms may cost 2 or 3 times more. We have software in 20 different languages, and our long tail of suppliers is hugely beneficial – as small suppliers can cause sustainability/safety issues it is very important to manage them well. The goal is to reduce admin costs and workplace incidents so that clients can focus on their business and not worry about litigation, settlements, brank damage and so on.
  5. Customer Co-innovation: working with customers to co-innovate on the product roadmap, including customer influence on what the product becomes.”

Will your business model change?

“We will be looking to merge platforms in about 18 months, until then we will continue to operate both. We don’t envisage changing the sales model, with Browz we will be gaining some great sales talent. In terms of customers, we both have a very similar approach and cultural fit. The two-way buyer- and supplier-led customer model remains, with clients benefiting from enhanced speed, thoroughness, depth and scope of vetting, and suppliers benefiting from increased worker safety and retention. Matching quality, vetted, safe contractors, of all sizes, with customers is a valuable business proposition.”

So what next for the combined company?

“We aim to make some major investments in products and services and in our platform. On the product side we are investing heavily in further developing the vetting and drill-down of workers, materials, and sub-contractors. The blended model of Avetta/Browz will give a one-stop shop by industrial vertical and geography – because that’s what clients are looking for.”

What next for the industry of supplier risk management?

“We see the future in end-to-end supplier lifecycle management. Rather than the traditional focus on pre-qualification; end-to-end means there will also be a focus on performance reviews (we have developed that with Cemex in the UK). We now carry out 30,000 performance reviews on contractors a year. That is now available to all clients and 50% of clients are already using it.

We also foresee more financial-related vetting of contractors and more sub-contractor equipment and materials vetting. Better investment in the supplier side of the business, looking at how we can help suppliers build their business, and end-to-end supplier management will be key.

Our aim is for a more positive supplier experience with better benefits, including a safer, more sustainable partnership. For some this might look like compliance hassle, but we create a vibrant network where both buyers and suppliers find benefit. And we aim to co-innovate with suppliers too (for example, we are reaching lower-cost commercial insurance due to our partnerships).

We also see blockchain technology fully integrated into client ERP systems, insurance brokers etc, as well as machine learning and AI.”

What would you like our readers to know, specifically in the UK and rest of Europe?

“We have been in the market for over a decade in the UK and Europe; it’s one of our fastest-growing markets and we want people to know that we’re open for business. We can help firms expand in a global network and aspire to a 75% to 80% win rate – if they are in the race.

As people learn more about Avetta, we are sure they will find we are a company with a mandate:

We want to drive greater sustainability; we want what we do to make a difference; we are environmentally and sustainability conscious, and we focus predominantly on safety – and this applies to our employees as much as to our customers.”

 

Avetta will hold its client summit on July 18 in London - a platform for customers to hear from and network with other customers, and where Avetta has the opportunity to interactively co-innovate with its partners. The summit provides a learning and networking opportunity to help customers maximise the value from Avetta products and services.  

More information is available here.  

 

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