This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
This piece covers how risk data specifically comes into play for traditional spend analytics vendors. The post How spend analytics solutions support riskmanagement appeared first on Spend Matters. This content is for members only. Visit the site and log in/register to read.
To round off that perspective we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
To round off that perspective, we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. Today, just the combination of the words risk, environment and supply chain make the practitioner sit up and think differently. And Stephen is not alone.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and riskmanagement. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
Contract lifecycle management (CLM) providers may be best known for their repositories, clause libraries, obligation management features and authoring. However, risk is a major element of the contract lifecycle. The post How contract management solutions support riskmanagement appeared first on Spend Matters.
As part of our series on all aspects of riskmanagement, we are taking a look at the digital capabilities of risk solutions (supplier riskmanagement, TPRM and SCRM). Risk governance: Risk identification and sensing; Risk analysis and evaluation; Risk treatment and mitigation; Risk monitoring; Incident management.
In 2025, the world of supply chain management continues to evolve, with technology playing an increasingly vital role in risk mitigation. As businesses face growing complexities in logistics, compliance, and…
As part of our series on all aspects of riskmanagement, we are taking a look at the digital capabilities of risk solutions (supplier riskmanagement, TPRM and SCRM). Risk governance: Risk identification and sensing; Risk analysis and evaluation; Risk treatment and mitigation; Risk monitoring; Incident management.
The paper highlights real-world examples and use cases that demonstrate generative AI's transformative effects on operational efficiency, riskmanagement, and cost reduction.
This is the origin of risk in any procurement process. The challenge for managers is to identify the risk for all parties involved and quantify it. The post RiskManagement in the Procurement of Innovation appeared first on ProcurePort Blog.
This dependency, while essential, introduces potential risks that can lead to operational delays, regulatory penalties and financial instability if not effectively managed. The post Navigating the top 5 third-party risks in procure-to-pay processes appeared first on Spend Matters. This content is for members only.
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 riskmanagement with accompanying free download here.
As part of our theme this quarter on Procurement’s role and value in supply chain riskmanagement, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways.
As part of our third-party/supply chain riskmanagement (TPRM/SCRM) series, today we address the riskmanagement landscape. Many solutions exist to managerisk in its broadest definition. The post The risk solution landscape is complicated appeared first on Spend Matters.
Supply chains around the world are struggling as they face major shifts to production, the movement of goods, modes of transport, and the people who keep everything running. The coronavirus…
Since risk is a reality in business, and ‘certainty’ is an extremely expensive proposition, an enterprise’s appetite for risk has always been measured on a sliding scale. Companies with a…
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 riskmanagement with accompanying free download here. What causes man-made risk?
As part of our third-party/supply chain riskmanagement (TPRM/SCRM) series, today we address the ROI of riskmanagement. As we inferred in our exploration of the types and sources of risk, riskmanagement done well can reap rewards, just as riskmanagement ignored can reap chaos.
In business, potential risk lurks everywhere, and procurement professionals need to be aware of what is out there. However, even a dip into the risks procurement professionals face can leave readers drowning in a sea of terms, definitions and acronyms. What is a risk? Unlike risk, incidents are actual occurrences.
For this year’s Spend Matters Fall 2024 SolutionMap release – our comprehensive methodology designed to help organizations evaluate and select procurement solutions – we launched a new module: third-party (and supply chain) riskmanagement (TPRM and SCRM).
Holistic RiskManagement Approach: Proactive Identification: Implementing proactive measures to identify and assess diverse risks, ranging from supply chain disruptions to market fluctuations, regulatory changes, and operational inefficiencies. appeared first on ProcurePort Blog.
This introduction to supplier riskmanagement outlines the importance of effectively identifying and managingrisks that may arise from suppliers. Supplier riskmanagement is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.
This is why AI for riskmanagement is one of the most powerful tools banks and fintechs can rely on to detect and prevent fraud in an automated way. But how is AI revolutionizing fraud riskmanagement in the credit sector, and how can BPM and BPA optimize this process? What is the Role of BPA in Fraud Prevention?
But they all come, to me, under the category of risk. “The last couple of years have really shown businesses the value of procurement – and not just as a purchasing function/PO function, but the strategy of procurement and the value we bring in managingrisk,” she says.
To improve resilience and business continuity in the face of pandemics, wars, natural disasters and other supply chain vulnerabilities, businesses are adopting comprehensive supplier risk-management initiatives.
In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supply chain riskmanagement. Design-for-Supply part 1, part 2, part 3 and part 4.
Supply chain organizations that prioritize safety and riskmanagement through data analytics, telematics, and newer equipment position themselves as competitive leaders.
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.
Sourcing consultants now… The post RiskManagement Strategies From Leading Sourcing Consultants first appeared on Procurement Blog | Procurement & Supply Chain News. Market uncertainties across the globe have transformed how businesses approach procurement practices.
“Halo Ai was born out of a deep industry need, which I recognized when I took on the role of Head of Third-Party Risk at a major Canadian financial institution, a company with over 190 years of history and a workforce exceeding 100,000 employees. What are Halo Ai’s greatest strengths?
What is Halo Ai HaloAi is a third-party riskmanagement (TPRM) solution that aims to be a one-stop shop for third-party risk so that organizations do not need multiple point solutions. Halo Ai uses AI models to connect, correlate and contextualize real-time data points to bring customers the full risk story.
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.
This Spend Matters Vendor Analysis provides an overview of Halo Ai and its solution for third party riskmanagement. Third-party riskmanagement (TPRM) is often an afterthought for organizations or a measure only taken after a risk event occurs. This content is for members only.
When vetting potential suppliers and customers, it's vital to assess their risk-management profiles and strategies, says Danny Thompson, chief product officer at apexanalytix.
This Spend Matters Vendor Analysis gives an overview of Aravo, a third-party riskmanagement (TPRM) solution built to empower businesses to effectively managerisks, enhance accountability and protect themselves in a world where third-party engagements are both more critical and more scrutinized than ever.
Audit Supply Chains: Identify and address environmental and social risks in the supply chain. RiskManagement Actionable Steps: Identify Risks: Develop a checklist of potential procurement risks, such as supply chain disruptions or quality issues. Resources: Riskmanagement certifications (e.g.,
Continuing our series on third-party/supply chain riskmanagement (TPRM/SCRM), here we illustrate the breadth and complexity of risk that organizations today must navigate and manage. The post Risk is complex — The different types and sources of risk appeared first on Spend Matters.
Maja Tepeh , Senior Brand Manager at supply chain riskmanagement 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 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.
With supply chains stretching across borders and relying on multiple vendors, the risks are highbut so are the opportunities. In this article, well explore proven strategies to safeguard your supply chain, minimize risks, and keep your business running smoothly, no matter what obstacles lie ahead. Evaluating these risks is essential.
Continuing our third-party/supply chain riskmanagement (TPRM/SCRM) series, today let’s address the question of ‘who owns risk?’ In the past, risk ownership has been addressed in a straightforward operational manner: IT owned cyber risk, finance guarded financial risk and so on.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content