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When we talk about reputational risk, we refer to damage to a company’s name or brand resulting from the negative actions (inadvertent or not) of a top-tier supplier or sub-tier part of the supply chain. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here.
When we refer to man-made risk, we are talking about disasters that have an element of human intent or negligence, as opposed to natural disasters which are unavoidable and occur naturally. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. What causes man-made risk?
This Spend Matters Vendor Analysis gives an overview of smartKYC, a risk (supplier due diligence) solution built to ensure that organizations stay on top of reputational and compliance risks. smartKYC is a solution that helps address such challenges. This content is for members only. Visit the site and log in/register to read.
This Spend Matters Vendor Analysis gives an overview of RapidRatings, a solution built to address financial risk. It offers an in-depth financial risk assessment solution designed to evaluate the financial viability of suppliers through comprehensive analysis of financial statements of public and private companies.
Speaker: Kelly Barner - Co-Founder & Managing Director of Buyers Meeting Point, LLC
Global inflation is at record highs and the Great Resignation has given way to the Great Reshuffling, leading to uncertainty in talent markets. What will 2023 bring? Time will tell, but it is unlikely to be a return to the pre-pandemic normal.
Additionally, spend analytics enables procurement teams to track compliance with procurement policies, identify potential risks and ensure that resources are allocated efficiently. Additionally, it can model and marry a variety of data alongside the spend, from contracts to risk. This content is for members only.
This Spend Matters Vendor Analysis gives an overview of Aravo, a third-party risk management (TPRM) solution built to empower businesses to effectively manage risks, enhance accountability and protect themselves in a world where third-party engagements are both more critical and more scrutinized than ever.
The most high-profile risk events come from wars and revolutions, but even the less obvious ones, such as social unrest, political demonstrations and activism, can cause serious consequences for businesses and have major knock-on effects for customers. The disruption may also be caused by supplier issues further down the supply chain.
With more than 7,000 buyers and over 825,000 suppliers on its network, the company offers a comprehensive platform that blends SaaS technology with managed payment execution, supplier onboarding services and deep ERP integrations. That said, integration risk will be a critical factor.
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. To potential buyers — True ValueHub can save category managers and buyers significant time and money by identifying new opportunities based on a deep analysis of costs and drivers.
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. To potential buyers — Halo Ai’s founder has a background in procurement and has built the tool with procurement in mind and to replace current TPRM and GRC point solutions.
Maja Tepeh , Senior Brand Manager at supply chain risk management solution Prewave , shares what their customers are looking for from their digital procurement investment. However, the cost avoidance from mitigating ESG-related supply chain risks, such as regulatory fines or disruptions, is equally important.
This Spend Matters Vendor Analysis gives an overview of Enlighta Spice, a supplier governance and risk solution built to manage performance and risks related to external spend with a focus on services spend. This content is for members only. Visit the site and log in/register to read.
Non-compliance with internal policies and regulation, creating legal risks for the company. . We need to change the perception of procurement and create a beneficial user experience that lowers risk, reduces time and of course, cost. . The post Creating Tail Spend ROI Through an Improved Buyer Experience appeared first on Ivalua.
Financial risk relates to the possible financial problems faced by a buying organization’s suppliers, its suppliers’ suppliers (and so on) or other third parties. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. What causes financial risk?
The interconnected nature of business networks, their systems and their data leaves suppliers and the primary organization open to threats and attacks that broadly fall under the category of supply chain cyber risk. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here.
LG: We are a team of 75 buyers globally, with 30 people in a central service centre. For example, before becoming a machinery buyer, a candidate must spend a significant period of time in the technical team. Our challenges are linked to digitalisation, risk management and inflation. Why are they so important?
In this Spend Matters Vendor Analysis, we provide an overview of Supply Risk Solutions and its solution for supplier (chain) risk management. Supplier risk management is crucial for a variety of reasons. Supply Risk Solutions (SRS) was founded in 2007 to address these issues for the semiconductor and healthcare industries.
These issues can lead to financial losses, compliance risks and disruptions in payment workflows. Trustpair offers an AI-driven fraud-prevention platform designed to eliminate these risks through automated bank account validation, continuous vendor master data monitoring and real-time risk assessment.
Small Business Risks in Accepting Cryptocurrencies! This is why crypto risk management is important to take your wealth off of exchanges and into your own hands. This is why crypto risk management is important to take your wealth off of exchanges and into your own hands. Risks of Crypto Exchanges. This happened with Mt.
In this interview, Snow talks to Procurement Leaders’ chief product officer David Rae about his approach to risk, the company’s evolving geographic footprint and how he prepares his team to deal with the ongoing polycrisis. But buyers do not focus on the value of spend with each supplier – they consider the revenue impact.
IT Procurement | 'Stranger Things' Keeping IT Buyers Awake at Night. Proceed at your own risk. At the risk of stretching this analogy to its breaking point (go with us on this!), Here are just a few of the most frightening challenges keeping IT buyers awake at night. By Hugo Britt | August 4, 2022.
The past few years have highlighted serious deficiencies in prevalent supply chain strategies and the major risk that disruptions pose to corporate success. Organizational abilities to effectively assess risk and engage suppliers to mitigate it are woefully lacking in most cases. Are the supplier’s 3rd party risk ratings acceptable?
In this Spend Matters Insider Vendor Analysis Update, we give an updated and more complete overview of Resilinc (originally briefly covered in 2022), a solution built to reduce risks in supply chains to make them more resilient. Supply chains have been the focus of much news in the last few years. This is exactly the purpose of Resilinc.
Overlooked Ownership Structures That Complicate Deals A tangled web of joint ventures, minority stakes, and layered holding companies can catch buyers off guard. Specialized attorneys support investors onboarding, handle capital transactions, draft investment agreements, and review every detail so risk doesnt sneak in by surprise.
London, UK – 29 th June 2021 – Research from Ivalua , a leading global spend management cloud provider , has revealed almost two thirds (65%) of suppliers feel late payments are putting their company at financial risk. The findings show late payments are having a knock-on effect across the supply chain.
This Spend Matters Vendor Analysis provides an overview of Halo Ai and its solution for third party risk management. Third-party risk management (TPRM) is often an afterthought for organizations or a measure only taken after a risk event occurs. It also offers a competitive market analysis and key analyst takeaways.
The appetite for third-party risk management (TPRM) within procurement and the supply chain is keener than ever before — risks are more numerous and complex in what is an increasingly fast-paced and global business environment. Read our analysis: Risk is complex — The different types and sources of risk.)
Procurements most valuable players Jesus Campos , CEO CorporateLATAM, once wrote on Spend Matters that procurement functions must address two key areas to navigate the uncertainty of global markets: risk management and organizational structure the latter being relevant to our discussion on procurement transformation. The Risk Manager.
This Spend Matters Vendor Analysis gives an overview of Kodiak Hub, a supplier management solution that consolidates all supplier information and data into one view with a focus on performance and risk. There are many old, new and developing stories about risk and the disruptions impacting business continuity and operations.
Continuing our series of analyst observations on procurement tech market movements, this week we are considering the shift in CPO priorities towards supply-related risks. Having that option has become more important than ever, because we’ve all seen the consequences of not taking risk seriously enough.”
This Spend Matters Vendor Analysis provides an overview of Gatekeeper and its contract lifecycle management (CLM) and third-party risk management (TPRM) solution. To potential buyers — Gatekeeper offers unlimited users on all of its pricing plans. This content is for members only. Visit the site and log in/register to read.
The modern procurement leader must manage risk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Externally, risk and compliance obligations mount, supply chains are stretched and stakeholder expectations broaden. Procurement has long sought a strategic seat at the table.
Categories: Procurement Systems & Architecture , risk-compliance-management Tags: PRO In this Spend Matters PRO Vendor Analysis we provide an overview of ProcessUnity and its solution for third-party risk management. To mitigate these risks, companies need to proactively monitor and assess their suppliers' risk profiles.
Categories: risk-compliance-management Tags: PRO This Spend Matters PRO Vendor Analysis provides an overview of Prevalent and its third-party risk management (TPRM) solution. Prevalent allows users to continuously monitor third-party vendors for security, privacy, compliance and supply-chain-related risks. Read more. )
Categories: Category Management , Procurement Systems & Architecture , Supply Chain , Supply Chain Management , Supply Risk Management Tags: PRO This Spend Matters PRO Vendor Analysis gives an overview of Interos, a supply chain risk management (SCRM) solution built to map and model a live global view of a company’s business ecosystem.
Categories: Analytics , Supply Risk Tags: PRO In this Spend Matters PRO Vendor Analysis, we give an overview of Owlin, a risk and intelligence solution built to help customers monitor what is being said and published about them, their suppliers and, in fact, any topic, e.g., customers, competitors or commodities.
Supplier Risk Assessment – In an increasingly large number of cases, a detailed supplier risk assessment might be required to determine whether the lowest bidder is the best overall choice. Buyers can standardize their systems and require suppliers to use compatible technologies.
As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. Additionally, procurement technology can help organizations improve compliance with regulations and reduce risk.
Therefore, creating a digital twin of a supply chain to identify, mitigate and monitor risks at all times is of ever-increasing importance for organizations that want to risk-adjust their supply chain. Also, the performance of the fulfillment process is a critical input to the continuous optimization of the supply/supplier base.
In this article, our analyst Bertrand Maltaverne looks at SxM with Enhanced Risk. What does an SxM with Enhanced Risk solution do? SxM with Enhanced Risk solutions further develop their risk capabilities and requirements, as supplier-related risk is a key component in suppliers management and needs to be embedded in all decisions.
Consult TechMatch our tech selection tool that helps procurement and finance technology buyers quickly explore the market and identify best-fit solutions. As always, reach out to discover how Spend Matters can help with your procuretech ambitions for next year.
With more buyers come more spend categories to capture and oversee. Maintain an agile mindset and continually enhance your process to address new types of spend and the associated risks that come with it. Dont be afraid to iterate: As your business evolves, so must your procurement function. Want to learn more?
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