Accenture and Ripjar help Shell transform risk screening by applying artificial intelligence across its global supply chain
- Published: Tuesday, 30 March 2021 08:41
Accenture and Ripjar are collaborating with Royal Dutch Shell to further enhance risk screening within its global supply chain using artificial intelligence (AI). Shell is leveraging Accenture’s industry experience and risk expertise to configure Ripjar’s AI technology for analysis of its supply chain. The insights will provide additional accuracy and efficiency in screening for risks across Shell’s third-party supply chain transactions. The AI technology embedded in the system could also reduce data-reporting errors by over 80 percent, when compared to third-party legacy systems.
By integrating this tool on Shell’s cloud-based infrastructure on Microsoft Azure, Accenture will also ensure Shell is positioned to scale the solution, creating cost efficiencies. Additionally, the solution optimizes accessibility, providing self-service capabilities to Shell employees globally as they conduct due diligence on third-party vendors.
“In a proactive move to tackle the growing challenges associated with criminal activity, security and fraud in today’s global business landscape, Shell is reinforcing its risk management capabilities across the supply chain,” said Adam Markson, a managing director and lead for Risk and Compliance at Accenture. “Together, we are taking a time-consuming, manual process and applying state-of-the-art automation with more insights into data to not only improve accuracy, but also give management complete audit capabilities and accountability over the entire screening process.”
The multi-year deal builds on Accenture Ventures’ investment in Ripjar and a strategic alliance formed in 2018.