IBM Supply Chain Blog

JANUARY 16, 2024

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. This is something we’re likely to see more of this year. One example of this is in insurance.

Sustainability 51

Sustainability Risk management Risk Management 51

Procurement Tactics

JUNE 28, 2023

It enables managers and businesses to minimize costs, prevent and mitigate risks, and essentially identify issues and problems early on in the procurement process. It also ensures that the procurement process is aligned with financial targets and objectives. Documents concerning the contracts shall also be undertaken.

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Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Supply Chain Game Changer

NOVEMBER 24, 2022

The same thing applies with cryptocurrency, and they tend to be transparent with their financial or personal information while remaining discrete with the information they store in blockchain technology. You should remember that the blockchain technology is a well-secured platform, and it doesn’t give any room for fraud.

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Supply Chain Efficiency Supply chain Purchasing Risk management 94

IBM Supply Chain Blog

FEBRUARY 1, 2024

In recent years, CBDCs have been positioned as a viable remedy to current inefficiencies in financial markets, as they can promote innovation, more effectively aid inclusion in payment systems and reduce settlement delays, costs, and counterparty risks. Tokenization is a term that expands on different forms of financial assets.

Import 101

Import Data Innovation Management 101

Zycus Cognitive Procurement

JANUARY 2, 2023

With AP automation services , enterprises can process invoices faster and more accurately, reduce the risk of errors and fraud, and improve cash flow management. This helps in reducing the risk of data breaches and other security incidents. Anomaly and fraud detection capabilities include identification of fraud cases (e.g.,

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Cost of ownership Vendor management Data Risk 52

IBM Supply Chain Blog

JANUARY 10, 2024

Financial services: innovate customer experience while keeping sensitive information secure and stay compliant Financial institutions face constant threats to their critical data and financial transactions. Red Hat OpenShift with confidential containers provides a fortified environment for financial services applications.

Data 78

Data Innovation Collaboration Risk 78

Strategic Sourceror

OCTOBER 27, 2022

Shoplifting soared 73% in 2021 Across just about every purchasing channel — in-store, online and mobile device — retail fraud grew in prevalence, the report found. Aside from the substantial financial threat shoplifting poses to retailers, it also risks employees' physical safety.

Strategic sourcing 107

Strategic sourcing Strategic sourcing Purchasing Procurement 107

Zycus Cognitive Procurement

AUGUST 29, 2022

Not only Victorian Government, but the world is now on the track to digitize all manual processes to improve compliance and reduce risks along the way. With government organizations using entire suites with AI incorporated, it is a process that is being digitized to achieve ease of operations as well as better compliance and risk management.

Risk management 52

Risk management Risk Suppliers Management 52

IBM Supply Chain Blog

FEBRUARY 6, 2024

Stronger compliance: Heavily regulated sectors like healthcare and personal finance levy large financial penalties when customer data is breached. Successful phishing attacks can result in identity theft, credit card fraud and data breaches, and they often incur massive financial damages for individuals and organizations.

Data 98

Data Strategy Risk Networking 98

Supply Chain Game Changer

NOVEMBER 18, 2022

With the recent hype around cryptocurrencies and their potential use in financial contracting, governments are naturally wary of what’s going on in the market and how it will impact their roles. This will give governments far more control over all financial transactions. Email Address. Subscribe to Supply Chain Game Changer.

Supply Chain Efficiency 52

Supply Chain Efficiency Contract Ethics Innovation 52

SCMDOJO

MARCH 28, 2023

In this guide, we’ll explore the benefits and risks of using blockchain for supply chain management so that you can come out of this read with a better and deeper understanding of what it is and how this profound technology can be used to elevate and implement supply chains of the future.

Supply Chain Efficiency 107

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization supply chain software solutions 107

Supply Chain Game Changer

AUGUST 10, 2022

Bitcoin is a decentralized digital currency that you can use to send or receive payments with no risk of fraud or third-party oversight, such as banks or other financial institutions. Bit Profit is a revolutionary way of making money without any technical knowledge or financial experience. What Can You Buy With Bitcoin?

Networking 52

Networking Supply chain Risk Price 52

Zycus Cognitive Procurement

OCTOBER 20, 2022

Thus, to create value, procurement professionals must consider the full range of factors that impact cost, quality, and risk. Moreover, AI helps to reduce the risk of fraud and corruption in procurement by flagging suspicious activity. Increasing procurement efficiency. Ensuring better compliance.

Real-time Visibility 59

Real-time Visibility Procurement Procurement team Risk 59

Zycus Cognitive Procurement

FEBRUARY 14, 2022

You not only miss out on opportunities but also risk major setbacks due to possible supplier disruptions. According to Deloitte’s 2021 CPO survey, only 26% of leaders were able to confidently predict risks within their supplier base. Some costly-to-ignore risk areas. This could mean legal as well as financial implications.

Suppliers 52

Suppliers Supply Chain Efficiency Supplier relationship management Vendor relationships 52

IBM Supply Chain Blog

OCTOBER 30, 2023

Integration and financial constraints : Merging AI with current systems is intricate. AI algorithms sift through large datasets to identify fraud risks and streamline claims processing, improving both efficiency and customer satisfaction. Forrester indicates that 40% of companies face this obstacle.

Agile and Lean Supply Chain 86

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency supply chain budgeting 86

Zycus Cognitive Procurement

NOVEMBER 11, 2021

Accounts Payable function is fundamental to operational and financial success of many organizations across the globe. But recently, the pandemic added to these woes and proved that, the ways in which many Accounts Payable teams still operate are not just dated and costly, but may also put the health and safety of employees at risk.

Risk 40

Risk Data Suppliers Management 40

IBM Supply Chain Blog

AUGUST 9, 2023

They also help security teams pinpoint vulnerabilites, improve overall incident response and reduce the risk of data breaches and financial losses from successful phishing attempts. appeared first on IBM Blog. How do phishing simulations work? The post What is a phishing simulation?

Real-time Visibility 80

Real-time Visibility Import Risk Data 80

IBM Supply Chain Blog

OCTOBER 16, 2023

ML classification algorithms are also used to label events as fraud, classify phishing attacks and more. Machine learning in financial transactions ML and deep learning are widely used in banking, for example, in fraud detection. Geisinger Health System uses AI and ML on its clinical data to help prevent sepsis mortality.

Data 51

Data Innovation Product development Risk 51

ivalua

MAY 21, 2020

This article was originally posted on the SIG blog. They see the action as it’s unfolding and can hedge or even eliminate risk before it impacts the organization. You mentioned eliminating risk. What kinds of risk can procurement help identify and prevent? It released the data to the party perpetrating the fraud.

Leadership 130

Leadership Eprocurement supply chain software solutions Supply Chain Efficiency 130

Planergy

MAY 30, 2023

In this blog post, we will discuss some of the basics of travel and expense management and some best practices to make your life a little bit easier. Fraud and Misuse Fraud and misuse of travel and expense management systems can be a major issue for your company, and it can result in significant financial losses.

Real-time Visibility 52

Real-time Visibility Management Purchase orders Purchasing 52

Procurify

JULY 20, 2022

Risk management and mitigation. Risk management and mitigation is a primary purchasing challenge today. They need to know the risks of working with certain suppliers, products and industries. Otherwise, they risk facing purchasing issues and damaging their company’s reputation. It also protects companies from fraud.

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Supply Chain Game Changer

SEPTEMBER 9, 2022

Because financial institutions operate under various technical and regulatory frameworks, performing a transfer across them takes time and money. Electronic currency risks. Though financial protection has improved, hackers’ methods of committing fraud have also advanced in sophistication.

supply chain software solutions 98

supply chain software solutions Supply Chain Efficiency Networking Supply chain 98

Zycus Cognitive Procurement

DECEMBER 18, 2020

Introduction: Supplier risk mitigation has become very important, especially in these times. The two key themes to come out of 2020 from a procurement and supply chain standpoint have been supplier risk mitigation and cyber threat. Challenges with pre-COVID-19 supplier risk mitigation practices .

Risk 40

Risk Suppliers Real-time Visibility Supply chain 40

Supply Chain Game Changer

JANUARY 30, 2020

When examining the risks of entering a new market, there are things to look out for that hint towards difficulty. These are a few examples of risks that you may come across. Keeping risks in mind, if you still feel that your business has enough girth to pull through to profit, then consider other things. Says Mary G.

Risk management 71

Risk management Supply Chain Efficiency Risk Supply chain 71

HICX

FEBRUARY 15, 2024

In the same way that a lack of sustainability could impact the perception of the organization within the market, a lack of focus on decarbonization could also pose the same risks and loss of reputation. There are a variety of areas that this covers, including tax and business registration, fraud prevention, trade compliance and more.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency supply chain software solutions 52

Supply Chain Game Changer

FEBRUARY 15, 2021

And as we embrace what the future has to offer, many are optimistic, particularly about increasing their financial likelihood. Just a fair warning, these coins are high-risk, too, due to their volatility. That means being free from third-parties and potential frauds. It aims to be a go-to option for giant-space financial apps.

supply chain software solutions 65

supply chain software solutions Supply Chain Efficiency Contract Supply chain 65

Zycus Cognitive Procurement

DECEMBER 31, 2020

This contrasts with AP’s old traditional connotations, streamline and automate accounts payable processes, providing better visibility and control over critical financial data. . driven systems can also reduce all non-compliance related risks. Accounts Payable processes that can be improved through A.I

supply chain budgeting 40

supply chain budgeting Supply Chain Efficiency Sourcing Suppliers 40

Supply Chain Game Changer

MARCH 5, 2021

When it comes to protection in the modern era, we already have malware, trojans, botnets, and other risks to contend with every day. And do not risk it. Tight protection is critical for online sales, as those can be hacked and used for fraud. Do not exchange it with anyone. Place in Cold Storage.

supply chain software solutions 98

supply chain software solutions Supply chain Risk Data 98

Supply Chain Game Changer

MAY 10, 2021

Bitcoin risks article and permission to publish here provided by Jean Nichols. Bitcoin risks and fraud occur in many ways, as in the following forms: Transmitting the secret keys or stolen from corporate databases may be done using private clouds, Bitcoin, or the user’s PC/laptop storage devices like their home hard drive.

Risk 69

Risk supply chain software solutions Supply Chain Efficiency Purchasing 69

IBM Supply Chain Blog

FEBRUARY 14, 2024

They can streamline workflows to increase efficiency and reduce time-consuming tasks and the risk of error in production, support, procurement and other areas. ML algorithms can predict patterns, improve accuracy, lower costs and reduce the risk of human error. ML can also conduct algorithmic trading without human intervention.

Real-time Visibility 88

Real-time Visibility Data Supply Chain Efficiency Supply Chain Optimization 88

Supply Chain Game Changer

AUGUST 19, 2021

Phishing is a type of fraud in which a user receives a rogue email that looks like it came from a trusted source to steal personal information such as login credentials or credit card numbers. In addition, data breaches hurt a company’s reputation, and regaining stakeholder trust requires a significant financial investment.

Import 98

Import supply chain software solutions Data Supply chain 98

Empowering CPO

JUNE 26, 2023

In this blog, we will delve into the exciting future of spend analysis and discuss the key trends that forward-thinking organizations should watch out for. Improved Compliance and Risk Mitigation Data-driven insights help organizations identify potential risks and ensure compliance with regulatory requirements.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Collaboration 40

Empowering CPO

JUNE 27, 2023

This blog will delve into the profound impact of digital transformation on spend analysis. Data Integration and Visibility: Connecting disparate data sources, such as procurement systems, supplier databases, and financial records, to create a centralized and holistic view of procurement activities.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

IBM Supply Chain Blog

FEBRUARY 5, 2024

Across the globe, financial institutions are rapidly modernizing to deliver secure, seamless payment experiences that meet the demands of digital-first consumers. Financial institutions face the challenge of enabling digital payments while simultaneously managing existing payment capabilities like checks.

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Demand Management Risk Networking 95

IBM Supply Chain Blog

JULY 7, 2023

Data protection and data privacy Data protection , defined as protecting important information from corruption, damage or loss, is critical because data breaches resulting from cyberattacks can include personally identifiable information (PII), health information, financial information, intellectual property and other personal data.

Data 40

Data Real-time Visibility Risk Import 40

Supply Chain Game Changer

NOVEMBER 30, 2022

Most typically, large platforms (especially those related to financial information and banking transactions) have a sufficiently high level of security and follow the strictest privacy rules for their users. The post Risks of Giving Out Your Phone Number on the Internet! Along with spammers, users can also be attacked by scam calls.

Risk 52

Risk Networking Supply chain Data 52

ivalua

JULY 1, 2021

Not only does paying the supplier early (with or without a discount) improve their liquidity and support their financial well-being, but it also secures a vital link in your supply chain. In Part II of this blog series on payments, we will unpack how your business can leverage payment processes to become the customer of choice.

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Supply Chain Efficiency Agile and Lean Supply Chain Suppliers Contract 26