Accenture and Ripjar help Shell transform risk screening by applying AI

Jeremy Annis of Ripjar

Accenture and Ripjar, a UK based data intelligence company, 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%, 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 optimises 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,” says 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. Indeed, Accenture was selected for its deep industry expertise and track record of implementing the next generation of compliance capabilities and enabling transformational change.”

“Global energy companies like Shell can better provide the products and services that are essential to our society with the help of a business ecosystem,” added Jeremy Annis, CEO, Ripjar. “Ripjar’s technology, enhanced by AI, can help reduce the number of steps it takes to conduct due diligence and detect risks through continuous real-time monitoring of the supply chain.”

The multi-year deal builds on Accenture Ventures’ investment in Ripjar and a strategic alliance formed in 2018.

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow

FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more
RECENT ARTICLES

IoT set to overtake cloud computing as primary Industry 4.0 technology, Inmarsat research reveals

Posted on: October 14, 2021

New research by Inmarsat, the provider of global mobile satellite communications, reveals that investment in the Internet of Things (IoT) is set to overtake cloud computing, next generation security, big data analytics and other digital transformation technologies in the near future.

Read more

IDTechEx looks at the setbacks and explores how to move forward

Posted on: October 14, 2021

Bill Gates backed a Belmont smart city in the Arizona desert little has happened beyond a land purchase. Authorities demand that the Colorado river’s diminishing water supply is unharmed. Arizona suffers historic water shortage. The Southwest and much of the West is suffering from an intense 22-year drought, resulting in increasingly low water levels, dry

Read more