Craft’s Supply Chain Advisory Board will provide valuable industry perspective, guidance and strategic direction as the company continues to deliver innovative technology and transform supply chain resilience, risk management and intelligence. Mr. Corbo’s extensive experience and insights will be invaluable to Craft’s growth and success as it embarks upon the next phase of its development following its recent Series B funding.  

“We are delighted to have Mike join the Craft team as executive advisor on our Supply Chain Advisory Board,” said Ilya Levtov, CEO and founder of Craft. “His wealth of knowledge will bring deep industry insight and expertise as we develop products for supply chain transformation and build our impact in market.”

Prior to joining Craft’s advisory board, Mr. Corbo spent over four decades at Colgate-Palmolive, including most recently as its Chief Supply Chain Officer.  During his tenure at Colgate-Palmolive, Mr. Corbo was responsible for managing complex global supply chain operations and driving innovation in the function. A testament to his leadership was the notable resilience and success with which Colgate-Palmolive weathered the global pandemic. 

“I’m impressed with Craft’s focus on delivering the integrated one-stop source for supplier intelligence, with advanced analytics and workflows that deliver supply chain resilience, third party risk management and strategic supply chain opportunities. Their vision is well suited to needs in the industry, and I am excited to be part of their growth and journey delivering innovation in supply chain management in the coming years,” said Mr. Corbo.

Craft’s Global Head of Business Development, Seb Butt added: “Mike’s extensive experience and deep understanding of supply chain operations will be a tremendous asset to Craft. We look forward to his valuable insights and guidance  as we strive to deliver exceptional value to our customers and continue to build a product that the industry needs.”

About Craft:

Craft is the leading supplier intelligence platform that helps supply chain and procurement professionals monitor, evaluate and discover suppliers to help build an unbreakable supplier network. Craft provides a comprehensive, reliable supplier data foundation with hundreds of  data types on suppliers around the world, as well as actionable insights through Craft Risk Hub, Craft N-Tier Mapping, and a collaboration workspace that, together, allow organizations to better identify opportunity, mitigate risk, and prevent disruption.

Our clients, including Fortune 100 companies, government customers, SMEs, asset management groups, and others, use our technology for supply chain intelligence, market intelligence and related use cases. Through our modular, secure, customizable portal, our clients can monitor any company they are working with and drive critical actions in real-time.

For more information, please visit www.craft.co

We closed our Series A in summer 2020, just as the COVID pandemic was gripping the world.  Our business was hitting stride providing advanced visibility into the complex supplier networks of Fortune 500 enterprises.  Suddenly, supply chain disruptions were dinner table conversation and a central story in daily news.

While the immediate disruptions from the pandemic have stabilized, the fragility of global supply chains remains clear to see and will take years to address.  It developed over decades of optimizing for efficiency, Just-in-Time delivery, with generally open trade routes around the world.  

Today we live in a less smooth, more volatile era.  In response, enterprise supply chains need to be rewired for resilience and to manage newer risks such as Geopolitics, Climate, ESG and Cyber-attack.  It is an urgent topic in the boardrooms and C-suites of enterprises, and a major topic in the halls of government.

Craft has developed a powerful software platform to address these requirements, comprising 3 distinct layers.  At its foundation is the most comprehensive set of data on suppliers flowing from external third party sources merged with internal first party data.  In the second layer, Craft provides advanced visibility into supplier risks and opportunities via Risk Hub, N-Tier mapping, Alerts, and other capabilities.  At the top sits a workflow layer including shared note-taking, collaboration and case management.  The whole suite is delivered in a highly usable cloud-based application, running enterprise grade security.  Craft integrates today with Google Cloud, SAP and ServiceNow, with more exciting integrations launching soon.

With strong backing to fuel our growth and expansion over the next several years, we feel privileged to be serving customers in the exciting dynamic world of supply chain transformation.

If this is an important topic for you or your business, please get in touch with our team at sales@craft.co, or connect with us on LinkedIn.

These events have led to a fundamental shift in how supply chain teams define and measure risk. In today’s complex and volatile environment, organizations must move away from operation models designed solely for efficiency and cost and begin accounting for risk exposure.  

This means investing in stronger supplier intelligence solutions that increase transparency along the entire value chain. 

That’s where Craft comes in.  In addition to a robust supplier intelligence platform, Craft is excited to announce several new product launches that will:

• Improve supplier discovery and evaluation 
• Better contextualize the overall health of your entire supplier network
• Improve collaboration, action, and contingency planning with internal teams and stakeholders
• Improve supplier monitoring so you know exactly when you should take action

Discover and Evaluate 

Researching suppliers is typically manual and tedious. In fact, it takes an average of three months for sourcing professionals to complete a single supplier search-costing valuable time and limiting the scope of suppliers organizations can review. 

But what if you could search thousands of global suppliers in days? With Craft’s improved Discover and Evaluate feature, you can.

Explore new or alternative suppliers using Craft’s robust database of company profiles and advanced search capabilities:

• Evaluate suppliers against competitors along 500+ data points, and even compare them side-by-side. 
• Organize hundreds or thousands of suppliers into portfolios based on select criteria to maintain seamless, efficient workflows.
• Enhance visibility into corporate hierarchies and ultimate beneficial owners (UBO) to improve and accelerate due diligence processes.

Craft Risk Hub 

Understand the overall health of your entire supplier network and determine where the highest risks exist with Craft’s Risk Hub. 

Risk Hub uses machine learning to comb Craft’s supplier data ecosystem and compile key risk metrics for evaluation. 

With Risk Hub, you can 

• Surface deeper insights into how suppliers perform against key industry benchmarks.
• Get notified when suppliers experience significant changes in key risk categories, like ESG or cybersecurity.
• Filter your view and focus on the metrics that are most important to you, whether that’s risk broken down by sector, portfolio, or risk category.

Risk Hub makes it easy to quickly measure, review, and analyze your risk landscape so you can uncover exposures and identify new opportunities.  

Craft Workspace 

Clear communication channels are essential to contingency planning and timely threat response in supply chain management. When something goes wrong, organizations must move quickly to notify decision-makers and execute plans seamlessly to minimize disruption and impact.  

Reduce time-to-action and collaborate with colleagues to respond to changes to a supplier’s risk profile with Craft Workspace.

Craft Workspace enhances communication in-platform, so everyone is on the same page. 

• Tag colleagues directly in a note on a company profile, or portfolio.
• Quickly notify other users of significant shifts in supplier data points.
• Start a thread for any conversation that requires a back-and-forth.
• Upload first-party data and unify disparate data sources into a single view.

Craft Alerts 

Supply chains are longer and more complex than ever before. This means it’s no longer possible to keep pace with the speed of business through manual monitoring and review. Instead, companies must take a proactive approach to supply chain monitoring and management.  

We’ve updated Craft Alerts to bring you more insights faster so you can take action right away.

Stay up-to-date on crucial changes to suppliers through real-time monitoring and alerts across multiple risk categories, including cyber, financial, and ESG. 

Craft Alerts: 

• Delivers curated, news-based notifications via email, API, or Craft Platform that are extracted, categorized, and validated from over 200k news sources. 
• Automatically flags significant changes to a supplier’s key risk scores and metrics to enable more proactive risk monitoring. 
• Contextualizes supplier data and illuminates trends through a structured alerts timeline to empower informed decisions. 

Craft N-Tier Mapping (BETA) 

N-tier analysis helps organizations understand who their suppliers’ suppliers are. This is critical to building a holistic picture of the value chain and its potential vulnerabilities, as well as supporting procurement efforts and supplier research. 

But without reliable supplier intelligence, conducting a thorough n-tier analysis is a challenge. 

That’s why Craft is launching a new N-Tier Mapping product. 

• Identify Tier 1, Tier 2, and Tier 3 suppliers to inform supplier negotiations and support due diligence.
• Visualize your supplier network in real time, so you’re always working with updated data.

Craft N-Tier Mapping illuminates your extended supply chain. With enhanced visibility into entire supplier networks, you can better understand key dependency points and risk areas, such as single-source suppliers. This also sheds light on areas where users may have a false perception of diversification. With better insight into the extended supplier network, you can mitigate risks, plan ahead, and take action faster.  

]]> https://global.craft.co/newsroom/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts/feed/ 0 https://global.craft.co/newsroom/craft-partners-with-leanlinking/ https://global.craft.co/newsroom/craft-partners-with-leanlinking/#respond Tue, 20 Sep 2022 04:00:00 +0000 https://craftco.wpenginepowered.com/craft-partners-with-leanlinking/ LeanLinking, an innovator in procurement excellence software, and Craft, the leading supplier intelligence network, have teamed up to launch an industry-first tool that takes supplier negotiation to the next level. 

LeanLinking’s DEALS solution brings everything frontline professionals need to know into one AI-based solution that guides them through faster, more effective negotiations with vendors. And paired with Craft’s powerful repository of financial, operational, and market-related supplier intelligence, DEALS is able to automate analytics and provide actionable insights for powerful negotiation strategies.

“Preparing and executing mid-to-high complexity negotiations is a foundational challenge in procurement. Companies regularly leave between five to six percent of value on the table,” said Matthias Toepert, Chief Growth Officer at LeanLinking. 

“DEALS  addresses this with built-in best practices, benchmarks and structured approaches. And combined with Craft’s unparalleled depth and breadth of supplier insights, more negotiations can be delivered faster and with higher impact.”

By leveraging both LeanLinking’s DEALS with Craft’s best-in-class data ecosystem and proprietary machine learning technology, procurement professionals can maximize value in supplier negotiations while also maintaining a strong partnership with their suppliers. 

“This is a great opportunity to take back control of supplier negotiations and drive consistency across organizations,” said Matt Keyes, Head of Craft, EMEA.

LeanLinking will present DEALS at Digital Procurement World (DPW) in Amsterdam with Patrick Foelck, Head of Insights & Enablement – Global Procurement at Roche, on Wednesday, September 21 at 11am. Craft’s CEO and founder Ilya Levtov will present on Thursday, September 22 at 3pm as one of three finalists in the DPW Growth Stage competition. 

“We are excited to partner up with Craft. Our clients’ procurement teams will get 24/7 access to automated supplier analytics based on the latest supplier data, market intelligence, and risk insights. For the first time, users can benefit from better negotiation strategies and higher impact via truly automated analytics and actionable advice at their fingertips,” said Toepert.

About LeanLinking

LeanLinking is the leading relationship management solution that helps procurement teams improve the way they are collaborating with their supply base and build true customer-of-choice relationships. LeanLinking’s Relations and DEALS platforms combine structured workflows with in-built subject matter expertise and automated analytics to build better strategies for effective supplier governance and sustainable supplier negotiations.

About Craft

Craft is the leading supplier intelligence platform that helps supply chain and procurement professionals discover, evaluate, and monitor suppliers to help build an unbreakable supplier network. Craft provides a comprehensive and reliable supplier data foundation with 400+ data points on suppliers around the world,  as well as actionable insights through a Risk Hub, N-Tier Mapping, proactive supplier monitoring and alerting, and a collaboration workspace that allows organizations to better identify opportunity, mitigate risk, and prevent disruption. 

]]> https://global.craft.co/newsroom/craft-partners-with-leanlinking/feed/ 0 https://global.craft.co/newsroom/crafts-commercial-director-wins-fima-connects-dragons-den-award-for-best-startup-accelerating-data-driven-growth/ https://global.craft.co/newsroom/crafts-commercial-director-wins-fima-connects-dragons-den-award-for-best-startup-accelerating-data-driven-growth/#respond Tue, 03 May 2022 04:00:00 +0000 https://craftco.wpenginepowered.com/crafts-commercial-director-wins-fima-connects-dragons-den-award-for-best-startup-accelerating-data-driven-growth/ Matt Keyes, Commercial Director – EMEA at Craft, has won FIMA Connect’s Dragon’s Den competition for startups. The competition, part of the exclusive 2-day April event, drew startup contestants from around the world who are working towards providing a solution to the data and intelligence challenges that large companies – particularly multinational banks – face. 

“We faced off in front of over 70 of the most sophisticated intelligence and data analytics buyers in the world. Their involvement in banks and financial services mean they are experienced, and they’re the best of the best,” said Keyes. “And they chose us.”

Keyes’ winning deck and presentation outlined how Craft provides a customizable intelligence solution that uses a combination of innovative AI/ML technologies, premium data partners and human intelligence.  Whether you need a raw API feed or a custom-built platform that integrates with your ERP or current analytics platform, Craft offers a bespoke solution that aggregates unstructured data and channels it into structured and therefore insightful information for enterprise organizations.  

Each participating startup pitched directly to a group of panelists, who were all top decision makers at multinational firms and banks, such as JPMorgan Chase and Lloyds Banking Group. The final decision between the runner-up and Keyes was ultimately decided by the approximately 65 attendees, who voted in favor of Keyes’ presentation by a 20% margin.

FIMA’s Dragon’s Den competition follows a similar format of the popular TV show Shark Tank in the United States, and it requires sharp presentation skills and, in this case, an in-depth knowledge of the data & intelligence pain points that big banks face – particularly when it comes to ESG initiatives. FIMA Connect is an invite-only event for key decision makers, including Heads of Data, Analytics and Innovation, at banks and asset managers. Companies in attendance included HSBC, Bank of America, Deutsche Bank, and JP Morgan Chase. 

“The reason they chose Craft was because we were immediately applicable to their ESG objectives and goals, and they saw immediate pains and problems that they’re facing right now,” said Keyes.

According to Keyes, legacy incumbent data providers have lapsed in quality, providing startups with the opportunity to bridge critical gaps in the enterprise intelligence market. This award will allow Craft to expand its reach and underscores the gap in reliable, holistic intelligence solutions across a myriad of industries, including finance, supply chain, and more.

Global supply chain disruptions have expedited the need for advanced, integrated technology that improves strategic sourcing, supplier monitoring, and risk mitigation. The Federal Advisory Board will help Craft accelerate the delivery of collaborative solutions that will lower barriers between the private and federal sectors. Its six members have held top leadership positions within the federal government and multinational corporations, with expertise in public policy, business and economic development, technology, cybersecurity, and law. 

“Given the urgent need for increasing supply chain visibility and resilience, it is a perfect time for this Board to help Craft and the government jointly mitigate supply chain disruptions. Demand for more interconnected networks in the industry is at an all-time high, and Craft’s successful relationship with the Department of Defense demonstrates that change is advancing to address this ongoing challenge to our economic growth and well-being” said Christopher Caine, Federal Advisory Board co-Chair.

Supply chain risks are increasingly multi-dimensional, stemming from cyber-attacks, adverse weather events, changing ESG requirements and more. Government actions such as Executive Order 14017 aim to address some of these vulnerabilities in supply chains, particularly for products including semiconductors and COVID-19 vaccines. 

However, information silos between the government and private sector have historically stalled innovation, as procurement and supply chain leaders often scramble to adhere to new guidelines, while government agencies seek to improve access to up-to-date data within the private sector. 

“The Federal Advisory Board will represent a step forward in uniting many different stakeholders to create a more resilient supply chain. With members representing a range of perspectives and deep expertise, we are uniquely positioned to leverage their knowledge to develop critical solutions,” said Ilya Levtov, founder and CEO of Craft.co.

Craft already provides the Department of Defense with cutting-edge intelligence to help identify risk and disruption across the US supply chain, as well as protect intellectual property, particularly within aerospace and defense. The company’s proprietary data platform includes over 400 advanced signals on suppliers, rendered in an intuitive user-friendly digital workspace. Craft also serves supply chain teams at dozens of Fortune 500 enterprises, helping them lay a stronger foundation for supplier analysis, evaluation, tracking, and other procurement initiatives designed to mitigate organizational business and mission risk.

You can view the original press release here.

In order to continuously gather reliable data on customer usage, Cloudflare needed an API that was able to deliver relevant vendor data quickly and efficiently. After testing the functionalities and realizing that the Craft.co API could deliver on the requirements, the San Francisco-based enterprise quickly engaged Craft for this intelligence function.

Over 7 million active websites use Cloudflare, and the company serves thousands of enterprise customers. For CDN providers and website infrastructure organizations, enterprise intelligence products such as Craft.co have become increasingly pivotal in identifying customers who require better cloud deployment management, improved network security systems and more.

“We are thrilled to assist Cloudflare in making informed decisions around their customers’ needs”, said Ilya Levtov, co-founder and CEO of Craft.co. “They are a recognized global leader in providing critical web services to companies all over the world, and we believe our real-time data will lead to quicker, actionable solutions for their teams and their customers.” 

While Craft.co’s data has recently found increased utility among large technology providers, the platform has mostly catered towards supplier intelligence solutions that mitigate supply chain risk, offer visibility into suppliers’ ethical and environmental scores, identify and monitor cybersecurity profiles, and more. Craft.co’s customers, including Fortune 500 and government entities, span multiple industries that have large globally interconnected supply chains and a need to monitor and understand those supply chains in detail.

]]> https://global.craft.co/newsroom/cloudflare-collaborates-with-enterprise-intelligence-firm-craft-co-to-enhance-customer-solutions/feed/ 0 https://global.craft.co/newsroom/craft-google-cloud-supply-chain-twin-unmatched-end-to-end-visibility/ https://global.craft.co/newsroom/craft-google-cloud-supply-chain-twin-unmatched-end-to-end-visibility/#respond Tue, 14 Sep 2021 04:00:00 +0000 https://craftco.wpenginepowered.com/craft-google-cloud-supply-chain-twin-unmatched-end-to-end-visibility/ This week, Google Cloud is launching a new partnership with Craft that will help more supply chain leaders uncover the supplier intelligence they need to make better decisions. 

“We’re extremely excited for the opportunity to partner with Google Cloud and its launch of the Supply Chain Twin, and be able to help power this amazing tool with Craft’s Supplier Intelligence,” says Ilya Levtov, founder and CEO of Craft.

Craft understands that supply chain visibility is crucial for strategic, agile decision-making. Yet lack of visibility into the supply chain remains a challenge for a majority of companies. Siloed, stale, or incomplete data create blind spots that often lead to poor decision making, which can impact business at every level-from stockouts at retailers to aging inventory at manufacturers and even weather-related disruptions.

That’s where Google Cloud comes in.

Supported by Craft, Google Cloud Supply Chain Twin brings together data from a variety of systems, both internal and external to the customer environment, enabling customers to digitally map their physical supply chain in order to improve planning and decision making. 

Google Cloud Supply Chain Twin gives customers:

• End-to-end visibility of their supply chain.
• Comprehensive data that enables better analytics (e.g. KPI monitoring and alerts)
• Enhanced collaboration and data sharing between companies through platform capabilities such as Analytics Hub.

Craft delivers the data foundation

Craft provides accurate, comprehensive, and up-to-date supplier data by aggregating millions of data points through proprietary machine learning, manual human review, and validated sources, including Dun & Bradstreet and SecurityScorecard. That data is then structured and made available in Craft’s Enterprise Portal and API. 

With Craft, customers can quickly discover new suppliers, conduct deep supplier evaluation analyzing over 350 data points, and automatically monitor suppliers with real-time, customizable alerts.

Google Cloud brings it all together

With the launch of the Google Cloud Supply Chain Twin, Craft has made its supplier data available through BigQuery and connected it into the Supply Chain Twin data model-making it easy to join and gather insights from Craft, ERP, PLM, and other supply chain signals, and then surface powerful insights.

“Most supply chain and procurement leaders are making crucial decisions every day with unreliable and incomplete supplier data,” says Levtov. “Craft utilizes artificial intelligence to create a complete, holistic view of suppliers that helps power Google Cloud Supply Chain Twin to better empower supply chain and procurement professionals to predict risk and identify opportunity.”

What might this look like in the real world? Let’s say you are viewing a demand forecasting pane in Looker (a data analytics platform that integrates with Google BigQuery) related to one of the commodities you manage. 

You notice a crucial commodity is highlighted red because of a new product introduction, as well as some demand shaping signals. You see the there will be a 50% increase in demand in the next six months. This outstrips the current delivery SLA with the supplier, and based on some risk signals from Craft, it’s apparent the supplier can’t support any increased future orders. 

To investigate, you move to Craft and start digging deeper into the supplier.

The holistic supplier data in Craft provides better context on the red flags. Your supplier has had high executive turnover and their financial health scores have dropped over the past year. It also appears their CSR ratings are below your corporate standards, so you determine the best course of action is looking for an alternate supplier. 

You click the “compare” button in Craft and are immediately shown several alternate suppliers. You can compare crucial metrics side-by-side, and see there are several suppliers that can not only meet your increased demand but also have better CSR metrics.

After making your selections, you can easily navigate to ServiceNow to search for the supplier. Craft’s integration with supplier lifecycle solutions like ServiceNow makes it easy to find the supplier, import the appropriate information, submit to procurement for approval, and automatically sync with SAP Ariba. As a result, you’re able to mitigate and prevent disruption long before it has a negative impact. 

Craft’s comprehensive supplier intelligence helps supply chain leaders gain a deeper understanding of both existing and potential suppliers. And with the launch of Google Cloud’s Supply Chain Twin, the ability to bring together multiple data sources and gain deeper insight into supply chain visibility, demand forecasting, and risk mitigation, is easier than ever before. 

Learn more. 

Over 500+ delegates from Procurement Foundry’s global community of 5,000+ sourcing and supply chain professionals (as well as non-members) attended the live virtual event. 

Featuring discussions with top procurement leaders spanning multiple industries, including Ebiquity, Kantar, Deloitte, Scotiabank, and more, the virtual conference was “designed to help [attendees] uncover and put into play, cutting-edge tools and technologies advancing procurement.” 

Our team had the pleasure of leading two sessions at the event: 

• “Deploying Intelligent Management of Your Supplier Ecosystem” hosted by Craft CEO Ilya Levtov and Director of Deloitte, Aaron Parrott.
• “How Hapag-Lloyd Re-Engineered Its Approach to Supplier Risk Mitigation and Supplier Transparency with Craft” hosted by Seb Butt, General Manager for EMEA at Craft and Ingmar Mester Manager of Supply Management at Hapag-Lloyd.

We’ve summarized the highlights for you below: 

Breakout Session: Deploying Intelligent Management of Your Supplier Ecosystem

Craft CEO and co-founder Ilya Levtov was joined by Aaron Parrott, Managing Director at Deloitte for a discussion on rethinking supplier management. 

They tackle a few key questions:

• What do supply chains look like 18 months into the pandemic?
• What lessons have companies taken away from this experience? 
• How well does a company know what’s going on within its supply base?
• How are organizations shifting their priorities around cyber?

Here are some of the takeaways:

Rethinking how to effectively manage the health of your supplier ecosystem

In light of the COVID-19 pandemic, supply chains around the world experienced disruption-the effects of which are still impacting suppliers and markets today. 

But what lessons have companies taken away from this experience? 

Parrott noted that very few companies will go back to the way things were before. The majority of companies fall into two camps: 

1. Either looking into mitigation strategies and dabbling in more proactive management with some of their suppliers or,
2. Focusing on full-on engagement with their suppliers. These companies take the posture that they never want to be put in this situation again and will take a multi-tier approach to supply chain management and intelligence to proactively mitigate risk within their supply base.

Visibility of your risk

Part of this new post-pandemic supply landscape is re-examining risk. And one of the big questions for supply chain leaders is “How well does their company know what’s going on within their supply base?”

When it comes to cybersecurity, “supply chain is the great unguarded flank of the enterprise,” says Levtov.

“We’re starting to see a shift in the manufacturing space,” says Parrot, “that cyber is much more important than just protecting my IP and […]making sure that no one is stealing it.” Now companies are recognizing that a cyberattack can potentially shut down their supply chain. 

So the question then becomes: How do you address it and when you identify a cyber attack in your supply network, what do you do?

Now more than ever, understanding and managing those risks within your supply chain is crucial to ensure resiliency. 

See the full session here. 

Lunch & Learn: How Hapag-Lloyd Re-Engineered Its Approach to Supplier Risk Mitigation and Supplier Transparency with Craft

Hapag-Lloyd is a global container line business with a significant supply chain consisting of 40,000 suppliers. To manage this large-scale supplier base, the company created a procurement team led by Ingmar Mester. 

We were excited to sit down with Mester at this event to discuss the challenges facing Hapag-Lloyd and how Craft’s unique supplier intelligence solution helped solve them.

Here are the highlights of our conversation:

What were some of the challenges you were facing before Craft?

The main problem they faced was a lack of supply market and supplier transparency. 

The company didn’t have a synchronized approach to collecting intelligence about the supply base, leading to confusion and missed opportunities. In some cases, suppliers fell through or were taken over without notice-leaving Hapag-Lloyd scrambling. 

“This really cost us money because we were not prepared and had to react quickly,” said Mester. “So at the end of the day, when I came in, [I] very quickly learned that there’s one big task: How can we set up a global source of data for facts and figures about our suppliers? And how can we become the first to know about any relevant news that happened?”

How is Craft supporting Hapag-Lloyd to solve these challenges?

Craft’s supplier intelligence solution helps Hapag-Lloyd stay informed and prepared to act on changing supplier landscapes. 

Mester says two main features stand out: 

• Craft’s Company Profiles
• Craft Alerts

Craft pulls together supplier details ranging from public financials to lesser-known public and private company and market news. This provides a comprehensive view of their supplier ecosystem. 

Craft Alerts provides real-time monitoring of their suppliers and notifies the team when there is news-ensuring they always have the most up-to-date information at their fingertips. 

“I always try to describe it to my colleagues in Hapag-Lloyd as sitting in the procurement armchair,” says Mester, “relaxed and waiting for the email from Craft to arrive whenever there is any news available in that Craft has detected.”

This gives Mester and the Hapad-Lloyd team peace of mind that they won’t miss important news or get overwhelmed searching through piles of data. 

“This saves us so much time that we can dedicate to added-value activities. And this will benefit all of Hapag-Lloyd.”

Presenting Use Cases on the Craft Portal

Mester then walked through various use cases of the Craft Portal, demonstrating the powerful ways Craft helps Hapag-Lloyd manage their supplier intelligence.

See the full presentation here.

Amid a fluctuating global supply network and a procurement landscape that requires nimble and intelligent decision-making, ProcureTech intends to identify and champion the most innovative and forward-thinking procurement technology, data and analytics solutions on the planet.

That’s why ProcureTech is collaborating with Craft and SecurityScorecard to build ProcureTech, a single platform for digital procurement solutions.

The mission is to curate and showcase the dynamic, diverse, and future-focused companies that are revolutionizing how we think about procurement. ProcureTech will do this by applying science, intelligence and experience to the procurement technology, data and analytics ecosystem of over 4,000 companies. The process will involve a unique combination of data, customer reviews and expert opinion from procurement and technology leaders and investors.  This will create the ProcureTech100 – the definitive 100 pioneering digital procurement solutions on the planet; and also ProcureTechSOURCE – the ultimate marketplace for digital procurement solutions.

A Unique Partnership with Powerful Synergy

Each partner will bring unique value to ProcureTech. As ProcureTech’s CEO, Lance Younger, explains, “The procurement environment is evolving at an increasing pace, with digital solutions able to simplify, expedite, and improve the process dramatically. ProcureTech, Craft and SecurityScorecard are partnering to create an intelligent, collaborative platform to help make this shift happen.”

ProcureTech provides the platform – an intelligent, digital market designed to change the way professionals source, select and buy digital procurement solutions. It provides a dedicated, transparent channel for vendors to share their capabilities, streamline lead generation and increase sales.

Craft provides comprehensive data that allows supply chain and procurement professionals to better understand their suppliers, proactively manage relationships, innovation and respond to risk.

Craft’s CEO, Ilya Levtov, believes the partnership will drive valuable innovation within industry. “We’re excited about uniting powerful data sources to enable companies to make informed supply chain decisions and gain access to the best digital procurement solutions available. ProcureTech fills a critical gap in the market, showcasing companies that offer the technology to meet complex selection criteria, especially when selecting technologies with supplier risk, diversity, and sustainability in mind.”

Seb Butt, Craft’s General Manager for EMEA has observed a sharp increase in demand for digitalisation over the past 2 years; “Procurement has not been prioritised when allocating digital transformation time and resources in the past few years, but this is changing. Through a combination of unprecedented disruption due to the pandemic, supplier challenges related to cyberattacks, shipping delays, geopolitical competition, human rights violations, and extreme climate events – enterprises have had to re-think what’s important for them – supplier resiliency is at the top of that list and digitalisation is a cornerstone.”

The partnership with SecurityScorecard will support companies in identifying and onboarding best-in-class procurement technology vendors by providing buyers with continuously updated security data that covers the comprehensive risks (including cyber) that face a business in a single location. This will eliminate the need for them to gather the data on their own, creating huge efficiency gains.

In a digital environment with constantly developing technology, cybersecurity is now more important than ever. That is where SecurityScorecard enters. SecurityScorecard’s CEO, Aleksandr Yampolskiy, writes, “We see this partnership as an opportunity to further the importance and role that cybersecurity plays in the procurement process in the interest of making it a table stakes requirement for all companies and their respective procurement teams.”

Transforming Procurement Together

The launch of ProcureTech combines the industry-leading standards, cutting-edge technology solutions and expert-driven insights of three deeply synergetic companies. In its creation, the companies hope to digitally transform procurement for the better – setting new standards for operating in the ecosystem.

The partnership enables greater transparency into the true capability, experience and performance of thousands  of digital procurement solutions. This is a unique perspective and a platform for creating faster, smarter matches. But it is also encouraging enhanced reporting on cybersecurity, facilitating deeper evaluation of risk and capability, and contributing to a stronger supply chain landscape that is resilient, adaptive, and digitally enabled.

Yampolskiy of SecurityScorecard adds, “We hope that other vendors, outside of the procurement technology space, see this as an example of how procurement should be done, and start aggregating continually refreshed comprehensive data on themselves and sharing it with prospective buyers.”

“Together, Craft, SecurityScorecard, and ProcureTech intend this new platform to help supply chain and procurement professionals discover, evaluate, and monitor digital procurement solutions to create stronger supply chain resilience through a powerful combination of comprehensive data, insights, and software solutions. In parallel, ProcureTech provides a collaborative platform for vendors to share their solutions and experience” says Younger of ProcureTech.

Procurement professionals can get involved by completing customer reviews on the digital procurement solutions that they are using.  ProcureTech will plant 10 trees for every customer review that is completed.  Digital procurement solution providers can check out their profile on ProcureTech.co, update and also ask customers for reviews too.

About ProcureTech
ProcureTech is on a mission to accelerate and amplify the digital future of procurement to solve the most pressing social, environmental, and economic challenges.  ProcureTech is a dynamic platform for procurement and technology leaders, entrepreneurs and the digital procurement ecosystem. For more information, visit procuretech.co or connect with us on LinkedIn.

Media Contact:
Lance Younger
Email: lanceyounger@procuretech.co

About Craft
Craft is the leading supplier intelligence platform that helps supply chain and procurement professionals discover, evaluate, and monitor suppliers to create stronger supply chain resilience through a powerful combination of comprehensive data, insights, and software solutions. For more information, visit www.craft.co or connect with us on LinkedIn.

Media Contact:
Jessica Erickson
Email: jess@craft.co

About SecurityScorecard
SecurityScorecard is the global leader in cybersecurity ratings. Founded in 2013 by security and risk experts Dr. Aleksandr Yampolskiy and Sam Kassoumeh, SecurityScorecard’s patented rating technology is used by over 16,000 organizations world-wide for enterprise cyber risk management, third-party risk management, board reporting, and cyber insurance underwriting-making all organizations more resilient by allowing them to easily find and fix cybersecurity risks across their externally facing digital footprint. Every company has the universal right to their trusted and transparent Instant SecurityScorecard rating. For more information, visit securityscorecard.com or connect with us on LinkedIn.

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