Corcentric, Beroe partner to boost supplier risk and compliance efforts

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Financial management software company Corcentric said April 27 it partnered with Beroe, an industry-leading supplier risk and compliance provider.

The merge serves as an extension of Corcentric’s supplier risk and compliance management solutions and comes on the heels of the Cherry Hill-based company’s expanded global partnership program, as it continues to demonstrate flexibility to sourcing and procurement leaders looking for new and innovative ways of enriching its supplier risk and wider supplier management efforts on a leading source-to-pay platform.

According to a company press release, the integration of Beroe’s Know Your Supplier (KYS) with Corcentric’s platform will offer Corcentric’s customers an essential and unique opportunity to easily link supplier profiles with leading third-party risk data providers by removing the need to strike individual agreements.

“The inability to effectively link third party supplier risk data to wider supplier management efforts puts a massive strain on supplier risk mitigation and compliance assessments efforts,” said Sean Regan, senior vice president of global alliances at Corcentric. “We are truly excited about this program with Beroe. This offering adds tremendous value to our customers for solving the supplier data collection challenge and truly gives them a competitive advantage in the ability to mitigate supplier risk and improve compliance.”

Accessed as an application within the Corcentric Supplier Management solution, organizations can now easily extend visibility by gearing up or down the number of suppliers and data sources they subscribe to within the Beroe KYS application.

“Companies are only as good as their supply chains, yet unfortunately these are vulnerable to disruption and unforeseen risks when suppliers are not effectively monitored,” said Vel Dhinagaravel, founder and chief executive officer of Beroe.