Sphera, a provider of environmental, social and governance (ESG) performance and risk management software, has announced that it has entered an agreement to acquire Riskmethods, a Germany-based software company specialising in supply chain risk management (SCRM).
Founded in 2013, Riskmethods’ software as a service (SaaS) solution is designed to use artificial intelligence (AI), big data and machine learning to protect its customers’ supply chain networks.
It works by collecting supplier and real-time data to distinguish critical signals and offer updates on suppliers’ status to prevent business disruption and promote transparency.
“Riskmethods’ cloud-based software identifies, analyses and helps mitigate all types of supply chain risk, including monitoring sustainability practices and ESG compliance in the supply chain,” said Paul Marushka, president and CEO of Sphera.
“Their innovative approach to SCRM bolsters Sphera’s capabilities in offering a Scope 3 emissions monitoring and reporting solution and furthers our mission of creating a safer, more sustainable and productive world.
“And their presence in Europe and the U.S. reinforces our ability to serve our expanding global customer base.”
The company’s SCRM software is designed to offer robust oversight over supply chains, handle regulatory compliance, proactively manage supply chain risks and comply with operational and ESG regulations.
