CARLSBAD, Calif. (October 24, 2018) – The future is here. Nearly 4 years ago to the day, The Financial Times printed a special report on supply chain risks and an industry transformation. According to a survey, by 2019 it was predicted that companies would consider Geopolitical Events, Complexity of Operations and Regulatory Compliance as the biggest culprits of increasing risk in supply chain risks. The result, a $65-billion USD market approaching a tipping point that favors technology companies founded by career compliance experts.
The sizable market opportunity has attracted companies motivated by anything from profit to changing the world. Some have grown organically without investment, as iPoint has, or strategically with minimal investment, as Source Intelligence has, or extravagantly as noted by Assent’s $100 million financing announced yesterday. Regardless of motivation or growth strategy, one thing is certain: The industry of supply chain compliance will forever be changed by technology innovation.
How Big Is The Opportunity?
According to an industry report conducted by Grand View Research, spending on Governance Risk and Compliance (GRC) in supply chains is expected to reach $65 billion by 2025. Driving the expected spending on supply chain risk management is as predicted. Complexity and Requirements.
Source: “Enterprise Governance, Risk and Compliance Market”, Grand View Research 2016
“The Source Intelligence platform is an easily configurable yet powerful engine that centralizes compliance information, simplifies data management and strategic decisions.” commented Matt Thorn, President and visionary behind the Source platform. “In partnership with our clients our technology has advanced substantially over the last decade.”
With the platform well into its 3rd generation, Source Intelligence is currently in discussions to implement a program which will use artificial intelligence and known variables to conduct predictive analytics for risk on nearly 100,000 suppliers.
“It’s a very exciting time for our company,” commented Jess Kraus, CEO and Co-Founder. “Our Mission has not changed from the day we began bringing supply chain transparency to the world’s largest brands. We’ve mastered data management to ensure legal and ethical sourcing and by doing so, we make the world a better place one brand at a time.”
We’ve mastered data management to ensure legal and ethical sourcing and by doing so, we make the world a better place one brand at a time.”
About Source Intelligence
Source Intelligence is a leading provider of regulatory compliance, environmental health & safety (EHS), sustainability and corporate responsibility data services and solutions. The company brings value to its over 500,000 platform users by delivering an advanced, cost-effective technology with supply chain expertise and data services designed to help companies comply with the law, minimize operational and brand risk, and improve efficiency.
Founded in 2009 by career experts in environmental solutions and analytics, Source Intelligence® has headquarters in Carlsbad, California and operations worldwide. SI has received multiple awards, including the “GRC Innovation Award”, “Product of the Year” and most recently, “Best Performing Supply Chain Solution Provider, 2018”
Media Contact: Lina Ramos, Chief Business Officer, 760-232-4087 or firstname.lastname@example.org