Avetta Enhances Supplier Discovery Tool Amid Inflation Pressures
Event summary
- Avetta upgraded its Find Supplier tool within the Avetta One platform, enhancing AI-driven search and supplier visibility.
- The tool now includes benchmarks like tenure, sustainability scores, and compliance trends for over 56,000 suppliers in Australia.
- 31% of Australian businesses plan to renegotiate supply contracts due to inflation, while 21% seek new local suppliers.
- Avetta’s network spans 360,000 hiring clients and suppliers across 120+ countries.
The big picture
Avetta’s upgrade comes as businesses grapple with inflation-driven supply chain pressures. The enhancements aim to streamline supplier discovery and compliance verification, addressing a critical pain point for procurement teams. With over 360,000 clients in its network, Avetta is positioning itself as a key player in mitigating operational risks amid economic uncertainty.
What we're watching
- Adoption Pace
- How quickly Australian businesses will leverage Find Supplier to mitigate inflation-driven supply chain risks.
- Competitive Differentiation
- Whether Avetta’s enhanced supplier visibility will strengthen its position against competitors in the work readiness space.
- Network Expansion
- The pace at which Avetta can grow its global supplier network beyond Australia, particularly in high-inflation regions.