Ready-to-use solution helps organizations understand the business impact of the novel Coronavirus on their supply chains and other activities that rely on third parties
(San Francisco) – March 19, 2020 – Aravo Solutions, a leader in third-party risk and performance management, has announced the availability of a subscription-free COVID-19 Business Impact Assessment. The SaaS application is pre-configured to let organizations quickly gather information from their third parties to assess their preparedness for the current pandemic and how that might impact their operations.
“In these unprecedented times, we are tested as people to maintain our values and continuously help each other while also maintaining focus on the tasks at hand,” says David Rusher, Chief Customer Officer at Aravo. “Aravo Solutions was founded with the purpose of helping people around the world defeat some of society’s greatest challenges, and in this challenging time, we are committed to living up to our core values and supporting the business community.”
Aravo’s COVID-19 Business Impact Assessment is an ultra-light version of Aravo for Third-Party Management Express that has been purpose-built for this rapid response situation. An alternative to juggling spreadsheets and manually tracking and reporting on responses, the application allows organizations to:
- Upload third-party and supplier details into a centralized system
- Activate a pre-defined COVID-19 impact assessment to third-parties from a secure environment
- Automate processes associated with collecting the assessments, including pre-configured emails, notifications, and reminders
- Assess and monitor third parties’ response readiness and potential risk impact to business operations through included reporting.
In addition to greater efficiency, the COVID-19 Business Impact Assessment delivers the visibility organizations need for agile responsiveness to this evolving situation. All of the data related to third parties within the scope of COVID-19 impact assessment is stored in a centralized location, and stakeholders can view statuses individually or in aggregate. Users will be able to generate a robust report of the data using the included pre-configured report.
Unfortunately, there will likely be some people who will try to capitalize on the crisis and launch phishing or other scams, making security even more critical. By leveraging Aravo’s secure environment, organizations can provide assurance that third parties and employees are interacting with a legitimate source.
Organizations do not have to be current Aravo customers to access the complimentary Aravo COVID-19 Business Impact Assessment, and there is no obligation for additional software purchase. Though purpose-built for rapid deployment with minimal support, Aravo COVID-19 Business Impact Assessment requires some setup and basic familiarization for maximum effectiveness. Aravo is charging a minimal one-time setup fee to enable our services team to provide the appropriate level of customer support. Aravo plans to continue to support the software without a subscription cost for as long as necessary to respond to the COVID-19 pandemic threat.
Learn more about the Aravo COVID-19 Business Impact Assessment and request a free subscription on the Aravo website.