What is RiskTrace?

RiskTrace automates the complex Financial Viability Risk Assessment process required by UK procurement policy, delivering results within minutes rather than days. The analysis is carried out against the nine key indicators prescribed by the government for assessing economic and financial standing of bidders and suppliers, quickly evaluating their financial health and highlighting any weaknesses.

Why use RiskTrace?

Whether you are a bidder or procurement team, our automated tool can save you valuable time and resources by delivering reliable results within minutes. By streamlining and simplifying EFS risk assessments through automation, RiskTrace ensures:

Accurate, reliable results - no risk of erroneous manual data entry.
Reduce costs - our automated tool conducts assessments quickly and efficiently saving you valuable resources.
Save time - results are provided within minutes rather than days.
Quick and efficient - multiple FVRAs can be conducted simultaneously for all your contracts, bidders and suppliers.
Compliant and comprehensive - assessments are carried out against the nine key indicators prescribed by the government.

Creating the Future Of Automated Risk Management Together

RiskTrace provides powerful capabilities to help you manage your entire supply chain—not just major contracts. By leveraging technology, it enables proactive risk management, automated monitoring and dynamic intelligence. With features like real-time supplier assessments and interactive dashboards, RiskTrace helps you spot potential concerns early and make informed decisions with confidence.

Current AI-Adjacent Capabilities via Microsoft Azure Microsoft Copilot Integration

Interprets financial assessment results with plain-language explanations
Monitors supplier news and web presence to flag viability concerns
Contextual guidance on procurement regulations and compliance requirements
Generates customised reports and communications based on assessment findings

Power Platform Utilisation

Power Automate workflows trigger regular supplier monitoring and scheduled assessments
Automated notification systems alert to changes in supplier financial standing
Custom approval processes tailored to organisational procurement structures
API connections with Companies House for real-time financial data ingestion

Dynamic Intelligence Through PowerBI

Interactive dashboards displaying supplier financial health metrics
Trend analysis tracking supplier performance over time
Framework contract monitoring across multiple suppliers simultaneously
Risk threshold alerting with visual indicators of concern levels
Batch reporting capabilities for procurement teams and stakeholders

Data Enrichment & Analysis

Automated collection and standardisation of financial data from multiple sources
Cross-referencing of supplier information against Companies House records
News and public information monitoring for indicators of financial distress
Identification of discrepancies in financial submissions

What’s Next: The RiskTrace Roadmap

RiskTrace is transforming risk management through automation while continuously expanding its AI capabilities to deliver ever increasing value to procurement teams and suppliers alike.

With advancements in predictive analytics and intelligent supplier matching, RiskTrace is revolutionising how organizations anticipate and mitigate risk.

Here’s an insight into our exciting innovations on the horizon:

RiskTrace: Creating The Future Of Automated Risk Management