Koble’s Experian Partnership Turns Social Supplier Discovery into Risk Management Opportunity

SpendLead maxsim/Adobe Stock

We’ve covered Koble here over the last year or two, and the platform continues to grow its user base of buyers looking to find innovative suppliers and suppliers looking to find buyers (around 500 major firms are now using the solution.) The platform offers all in an easy-to-use yet controlled and structured framework, so that buyers can define exactly how and when they let potential suppliers know that they’re interested to avoid being bombarded by calls or emails from hopeful sales people.

Anyway, recent accolades have come with a place in the 2017 Red Herring North America “Top 100 winners,” which lists innovative and exciting tech firms. (Red Herring’s list defines Koble as “social networking/matchmaking,” which is accurate in a business sense but to a casual observer may make it look like another sort of interesting app altogether!) Gartner has also recognized Koble as a “cool vendor in procurement and sourcing technology,” one of just four firms listed in this report.

Developments still continue though to improve the functionality and user experience. The latest benefit offered to buyers on the platform is a free risk analysis tool. Because Koble is often putting smaller firms in front of buyers as potential providers, there is an obvious risk issue. While many large firms and their procurement teams are rightly keen to find and work with small firms, they also appreciate that there can be risks. The question from some buyers will be, “I don’t know this firm — in fact, I’ve never heard of them — are they financially secure and stable?”

Koble has linked up with risk data firm Experian to present a stability score for all suppliers on the platform. In addition to the individual firm’s score, the free tool also enables users to look at portfolio analysis, for a particular category perhaps, charting how many or what percentage of firms that the buyer has linked with fall into various risk levels. Buyers can then dig further into the data for individual firms, up to the point where a more detailed risk analysis report can be purchased from Experian.

No report can guarantee that risks won’t emerge, of course, but this will give users a good degree of confidence that they can engage successfully with particular providers they discover through the platform. Do take a look at Koble here if you haven’t checked it out yet.

Disclosure: I hold a small percentage of stock in Koble. I thought it was a good enough idea to invest my own money! However, I will always attempt to give an unbiased view of the firm and product, as we do with any other solution provider.

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