Supply Chain Shocks – the pandemic, SolarWinds, and U.S. trade war with China – are spurring multinationals to turn to fast, scalable technology to avoid future disruption
Company well-positioned to address Biden administration call for heightened supply chain resilience
ARLINGTON, Va., Feb. 26, 2021 (GLOBE NEWSWIRE) — Interos, the operational resilience company, is powering into 2021 with a surge in demand for its AI-propelled platform that maps, monitors and models risk in the extended supply chain for Fortune 500 companies and government agencies worldwide.
Interos – whose clients include US federal agencies as well as industry leaders from aerospace and defense, airlines, banking and insurance – has been taking on a host of new customers from the automotive, tech, and manufacturing sectors. The company, based in Arlington, VA., with offices in California, recently expanded its worldwide presence to include operations in Germany, France, the UK and Nordic countries.
The privately held tech solution-provider logged a bookings growth rate of 354% in the last two years. It notched a 133% increase in its annual recurring revenue in 2020 over the previous year and recorded 132% growth in the number of employees over the same period.
Company executives expect even stronger expansion of Interos’ top-line and its worldwide headcount this year. The new focus on shoring up supply chain operational resilience, whether among companies based in the United States or abroad, is not expected to abate anytime soon.
Major areas of concern focus on supplier concentration risk within certain markets and locations, supplier financial risk, and compliance risks around restricted country or company involvement. The recent SolarWinds attack showed the impact of growing global digital interconnectivity and resulted in the event being called ‘an attack of the American supply chain’.
In response to these and other concerns, President Joe Biden signed an executive order this week launching a 100-day review of supply chains critical to national security, public health, and public safety. The review will target four key industries: semiconductors, critical minerals, pharmaceuticals, and electric vehicle batteries, and will seek to discover opportunities to bring overseas jobs back to the country.
“We’re seeing the collective C-suite and the board of directors at companies around the world make supply-chain resilience a top priority across the enterprise,” said Jennifer Bisceglie, CEO of Interos. “Companies, now more than ever, want visibility into their extended supply chain, down to the Nth tier, and they want to know in real time what risks are impacting those nodes at any given time. This all comes in the wake of the Black Swan events of 2020: the COVID-19 outbreak that rattled supply chains to the core, followed by the Solar Winds cyber hack that eroded trust in software integrity. President Biden now has taken a very welcome and necessary step in the right direction.”
The Interos founder noted that prior to Biden’s executive order, the U.S. government had taken several initiatives to shore up supply chain integrity and resilience in the federal space, where the company currently supports the U.S. Department of Defense among its public-sector clients.
“The new Biden administration must continue this emphasis on securing supply chains while crafting a modernized and comprehensive supply chain strategy,” she said. “The COVID response is clearly the administration’s top priority, including securing supply chains to expedite vaccine distribution.”
Interos recently added the following distinguished members to its Board of Advisors:
- Dr. Richard Haass: President of the Council on Foreign Relations and former Director of Policy Planning for the US State Department, Haass is one of the country’s leading experts on foreign policy.
- Mary Cheney: Cheney is a managing partner at communications firm New Troy Strategies. A veteran corporate and political advisor, Cheney is a highly sought-after marketing and PR expert who’s managed innovative campaigns across a range of industries including energy, telecommunications and agriculture.
- Renee Wynn: Formerly the CIO of NASA and Acting Assistant Administrator for the EPA’s Office of Environmental Information, Wynn is widely recognized for her success at modernizing NASA’s IT acquisitions process and dramatically improving the agency’s security compliance.
- Tom Foody: Foody serves as the CEO of Menlo Business Advisors and is a widely regarded operations and growth strategy consultant to venture firms and their portfolio companies.
Watch this video to learn more about Interos and the problem of supply chain risk.
Interos is changing the way the world does business by mapping, monitoring, and modeling global supply chains. The company’s advanced AI-powered platform for eliminating multi-party, multi-factor risk from 3rd, 4th to nth tier parties provides continuous monitoring – across a host of risk factors – for the largest commercial brands in manufacturing, financial services, and aerospace and defense.
The Interos Knowledge Graph is the world’s largest business-relationship database containing millions of businesses and relationships, along with countless attributes and inputs. For more information, visit interosai.kinsta.cloud.