RapidRatings at SAP Spend Connect Live 2024: A Recap
By Everett Weston, Managing Director, Head of Sales
Last week, I represented RapidRatings at SAP Spend Connect Live 2024, a premier event that brings together procurement leaders around the globe to discuss the latest-and-greatest in supply chain management.
As a gold sponsor of the event, we showcased cutting-edge solutions for identifying supply chain risk through financial health. Throughout meeting with experts and leaders across various industries, one message resonated: financial health monitoring is a necessary risk management component in today’s market.
I reinforced this message during our breakout session "Managing Hidden Risk in Your Supply Chain," where I shared RapidRatings' exclusive risk concentration data that demonstrates the tremendous financial strains facing private companies trying to compete in this turbulent macroeconomic environment.
Takeaways from the Event
During SAP Spend Connect Live, leaders discussed the importance of spend management and risk visibility for supply chains. Etosha Thurman, Chief Marketing Officer at SAP Intelligent Spend Business Network, emphasized the need for companies to "bet big on themselves" and focus on five key areas:
- Strategic collaboration
- Effortless compliance
- Seamless integration
- Increased productivity
- Informed decision making
RapidRatings' vision and solution align directly with these themes. Our platform provides:
- Strategic collaboration: By working closely with our clients' suppliers
- Effortless compliance: Our reporting suite ensures adherence to regulatory requirements like interagency guidance and supply risk management.
- Seamless integration: RapidRatings' APIs integrate seamlessly with the SAP Ariba suite, including SAP Ariba Supplier Risk, SAP Ariba SLP via Relish Data Assure, and future offerings like SAP's Spend Control Tower and Supplier 360 Dashboard.
- Increased productivity: We save our clients valuable time and resources.
- Informed decision making: Our key risk indicators and predictive ratings empower clients to stay ahead of bankruptcies and supply chain disruptions and identify strong partners.
SAP Ariba Intake Management and Partnerships
SAP announced plans to launch SAP Ariba Intake Management in Q1 2025, a solution designed to streamline employee requests and process orchestration. We're excited about the potential of this new offer and are actively partnering with other companies in the SAP ecosystem, such as ConvergentIS and ORO Labs, to explore opportunities for collaboration.
As a proud partner of SAP, we've consistently leveraged our partnership to develop innovative API integrations and thought leadership for our clients. Our recent blog series, for example, has provided valuable insights into the current state of supply chain risk management and how businesses can effectively mitigate these challenges.
SAP Spend Connect Live is a valuable event for industry leaders to connect and discuss how they’re navigating today’s challenges. We’re proud to contribute to the conversation and provide our expertise on supply chain risk assessment and mitigation.
