As a business, buyer-supplier partnerships are a vital part of your operations. In a perfect world, the only factor you would need to consider when forming these partnerships is whether the other company is capable of meeting your business needs, but instead, you also have to weigh the risks against the benefits of each potential relationship. Most businesses don’t have the time or resources to adequately evaluate each supplier/buyer they consider, which can lead to an unreliable and unsustainable supply chain.
At ConnXus, we understand the importance of developing long-lasting, dependable relationships with other companies. Rather than continuing the trend of uninformed and uncertain business decisions, we developed the Risk Scorecard™, a high-level supplier financial risk assessment. With this tool, buyers can access a comprehensive picture of each supplier’s financial status and potential, ensuring a positive outcome and allowing suppliers with outstanding scores to stand out from the rest.