New York, New York – March 28th, 2024: RapidRatings, a leading provider of global financial health analytics announced today its expanded partnership and integration with LevaData, the leading AI powered supply management company, transforming direct material sourcing. This collaboration between the companies aims to strengthen and reinforce the direct material sourcing platform’s capabilities to provide robust and unique insights down to the manufacturing part and ingredient level.
“We are delighted to expand our partnership with RapidRatings and strengthen our financial insights that we deliver for our customers” said Keith Hartley, CEO, LevaData. “This association solidifies our commitment to deliver unparalleled value to our customers. Leveraging the expertise of RapidRatings for financial health analysis enables us to advance our innovation and leadership for supply chain professionals and optimize risk management”.
LevaData is known for providing detailed spend visibility, increased cost savings and risk optimization for procurement and supply chain teams. The partnership with RapidRatings expands its depth of supply chain insights. Subscribed customers can now get immediate access to the financial health and ratings of their suppliers during vendor evaluation and spend planning processes. Joint users will be able to make informed decisions about their supplier relationships, get better visibility into fair pricing and opportunities for profitable growth collaboration as well as request a private company rating within LevaData. Furthermore, joint subscribers will be able to leverage RapidRatings detailed reports on both their public and private company suppliers.
“We’re thrilled to partner with LevaData, an intelligent platform that addresses direct material sourcing and spend management,” said Eric Evans, Managing Director, Partnerships and Alliances, RapidRatings .“This collaboration strengthens the financial health insights available to procurement and supply chain teams, empowering them to make smarter decisions throughout the supplier lifecycle. By combining LevaData’s spend visibility expertise with RapidRatings’ financial health data and analysis on public and private companies, joint customers can optimize risk management and unlock new opportunities for profitable growth.”
The company announced additional platform features, which include:
1. On-hand inventory and demand awareness: This functionality empowers customers to avoid excess inventory. Our On-hand Inventory (OHI) feature enables the allocation of surplus inventory to upcoming quarters until new inventory is necessary. It is a valuable tool for monitoring inventory accumulation and curbing unnecessary purchases that may surpass future demand.
2. Standard cost configuration: Our recent update empowers teams to access their standard costs beyond the CMODM +CPN level. Customers shall be able to assess their savings with our expanded standard cost key which allows cost filtering down to the supplier, MPN and manufacturer level.
3. Enhanced Usability: Our enhanced dashboards provide some new reporting capabilities in spend intelligence. Additionally, our refined display options and navigations in BOM Awareness will facilitate easier access to detailed information for users.
About RapidRatings:
RapidRatings sets the standard for financial health transparency between business partners, transforming the way leading companies manage enterprise and financial risk. The company provides the most sophisticated analysis of the financial health of public and private companies in over 140 countries worldwide. Through RapidRatings’ FHR Exchange, an innovative and secure membership platform, businesses can build more meaningful relationships and gain visibility into the financial stability of global suppliers, vendors, and other third parties. Learn more at www.rapidratings.com.
About LevaData :
LevaData’s integrated, AI-powered supply management software platform transforms direct material sourcing, mitigates risk and accelerates new product development. We power the smartest supply chains in the world by constantly analyzing business objectives against real-time market activity and community intelligence. We are trusted to deliver improved margins, control risks, generate new product velocity and achieve multitier supplier engagement with purpose-built tools for quick collaboration and decisive actions. LevaData creates a competitive advantage with transformational and predictive insights. Customers include large and complex enterprise companies and small- and medium-sized OEMs seeking to achieve best-in-class supply management practices. For more information on LevaData, visit levadata.com.
