Global Risk Management Solutions (GRMS): Supplier Onboarding, Risk and Compliance as a Managed Service [PRO]

Global Risk Management Solutions

Global Risk Management Solutions (GRMS), a managed services provider (MSP), has carved out a valuable niche targeting procurement organizations that want maximum assurance that the suppliers they are doing business with truly are who they say they are — and that they meet customized requirements for doing business with the company in question. Complementing other supplier management tools and source-to-pay suites as well as specialized supply chain risk management solutions, GRMS focuses on areas of supplier compliance that many organizations shortchange on an ongoing basis. Fueled by a supplier-funded revenue model and an outsourced data aggregation and validation service that is global in scope, spanning onboarding, regulatory compliance, environmental health and safety, risk management, diversity data and more, GRMS has kept the financial and business process adoption barriers to their offering low for procurement organizations. This two-part Spend Matters PRO Research brief provides an overview of the GRMS managed service compliance solution and how it can complement related supplier management, compliance and risk technologies (e.g., Hiperos/Opus Global, Aravo, Lavante, HICX, Ariba/SAP, SciQuest, Emptoris/IBM, Ivalua, Zycus, GEP, riskmethods, Resilinc) and information providers (e.g., D&B, BvD, Ecovadis) – as well as the overlap it has with other supplier management managed services providers like Achilles, Browz, PICS Auditing, Deloitte and Helios.

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