January 26, 2021 10:42 am

EY launches AI-based digital risk analytics platform Spectra for BFSI, retail and life sciences sectors

EY has launched Spectra, an online risk analytics platform aimed at financial services, retail and consumer products and life sciences segments.

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has launched , an online risk analytics platform aimed at financial services, retail and consumer products and life sciences segments. The consulting firm is of the view that even as data management has become a priority, the struggle to store and analyze data to make informed governance, compliance, and risk avoidance decisions, continues to rise among organizations. Spectra is likely to address this challenge.

Built on digital and cloud technologies, Spectra offers an end-to-end risk intelligence support to organizations in the chemicals and industrial products domain. The analytics platform provides a structured analysis by providing real-time business insights through visualization.

India Ltd., a company with a strong foothold in the Indian agrochemicals industry has been one of the early adopters of Spectra. Within just nine months of Spectra’s deployment, EY said Spectra led the organization to improve business efficiency and embark on a digital transformation journey with an increased focus on customer centricity.

“At Safex Chemicals, it is our constant endeavour to provide sustainable and affordable products to our customers. EY Spectra provides us with insightful intelligence and has helped us gain a competitive advantage in our day-to-day business processes and faster decision making,” said Piyush Jindal, Director, Safex Chemicals.

“While there is very little doubt in the fact that data generates great value for businesses, it is also true that a minor data security breach can have a considerable impact on an organization’s reputation and performance. Spectra has not only been addressing such security loopholes but has also reinforced our long-standing commitment to building a better working world by helping enterprises secure their businesses and drive innovation. It brings together our combined expertise in helping businesses manage risks more efficiently and identifying bottlenecks by turning information into intelligence,” said Sardul Seth, Partner – Advisory Services at EY.

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