The Risk Performance and Compliance Category

WorkMarket Partners to Offer Full Coverage Workers’ Compensation for Freelancers

WorkMarket has introduced a new insurance service that allows companies to provide workers’ compensation coverage to their independent contract workers, the company announced Thursday. According to the company, this is a “first-of-its-kind” service offering that was created in partnership with a leading insurance carrier. The new offering allows businesses that use the WorkMarket platform to extend workers’ compensation coverage to independent contract workers that the company engages through the platform.

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Driving Sustainability and Compliance (Part 3): Managing Multi-Tier Risk and Opportunity

sustainability

This post is the last in a three-part series. Click here to read part 1 and part 2.

The process of launching IntegrityNext gave our team an amazing opportunity to connect with supply chain sustainability and compliance managers worldwide. We heard about challenges and targets as well as priorities for today and concerns about tomorrow. Regardless of industry or company size, professionals have immediately engaged, driven by their desire to improve the working and living conditions of supplier organizations and the communities they are based in. One of the questions that we heard most often was about multi-tier supplier sustainability and compliance: what does this mean and why is it important?

GDPR: Fast Facts for Procurement Organizations

sourcing technology

On the home site for the EU’s General Data Protection Regulation (GDPR), a countdown advances toward May 25, 2018. Just over 200 days away, the enforcement date is marked on the calendar of every global organization, because the consequences are clear: non-compliance means heavy fines. As the clock continues ticking, we’ve assembled what you need to know about GDPR — its background, the changes that come with it and the repercussions of non-compliance.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 4) [Plus+]

As we conclude our initial series on creating a roadmap for success with supplier diversity initiatives (see Part 1, Part 2 and Part 3), we come to a handful of final, in many cases tactical, recommendations that can make or break program success. These are the “school of hard knocks” lessons focused on supplier diversity data management that we encourage our readers to take to heart, learning from the mistakes of others (including us) as we’ve helped to rollout and manage these programs over the years for dozens of organizations.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 3) [Plus+]

Perhaps the most important element that supplier diversity professionals should incorporate into their program management efforts is how to constantly incorporate general procurement efforts within their own. Working with general procurement should be the top priority for diversity teams. All too often, the trap for supplier diversity professionals is to lead a silo-based activity with few touch-points with general procurement.

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Driving Sustainability and Compliance (Part 1): Disrupting the Paradigm of the ‘Empty App’

As Pierre Mitchell pointed out in an article earlier this year, the vast majority of procurement technology is focused on the capture and containment of information. Supplier information. Product specifications and prices. Spend and transaction details. These are critical categories of information, but they don’t create value or achieve business objectives on their own. For that, procurement needs something more contextualized to its own company’s situation and designed to motivate action.

3 Ways Ineffective AP Processes are Endangering Your Supply Chain

Procurement organizations tend to focus on the “procure” part of the procure-to-pay (P2P) process; so much so that the second “P” often has to take a back seat. Yet the payments side of P2P offers strategic opportunities that procurement should consider — as well as critical risks that it must take into account. When AP processes are neglected, they can endanger your supply chain, tarnish supplier relationships, and jeopardize supply quality and continuity. Following are three ways those negative impacts can occur, along with recommendations for turning these possible risks into strategic opportunities.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 2) [Plus+]

For outcomes, whether you get preferred delivery, higher quality, better post-sales support, more favorable warranties or better pricing based on prompt payments as a result of getting diverse suppliers paid faster than the norm, it is important to consider the need to engage the broader finance organization (e.g., AP) and even other functions to implement a program successfully. And try to broaden your vision and go outside the standard procurement playbook in the process.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 1) [Plus+]

suppliers

There are few areas within the walls of corporate America that stir up emotions and opinions like supplier diversity. Regardless of where you stand regarding supplier diversity programs and how supplier diversity can be done right — because it can definitely be done poorly, even catastrophically so — this research brief is meant to serve as a general primer for procurement professionals needing to bring supplier diversity into their daily activities across the supply management function. We also hope it will prove useful for newly appointed supplier diversity managers and for senior procurement managers and corporate directors wanting to understand how supplier diversity fits in with their business, day to day and strategically. Our intention is to help you make the business case not just for greater investment in diversity programs but for the right programs to begin with. 

Engaging the Global Contingent Contractor Workforce: Challenges and Opportunities

MBO Partners

As firms seek to enter new markets and global supply chains become increasingly complex, contingent workforce managers need to access qualified talent when and where they need it. This has lead many businesses to increasingly engage the global contingent contractor workforce, from utilizing foreign workers to support extended global operations and to tapping specialized remote project workers not readily available in their home markets. Alongside this contingent boom, however, comes several challenges.

Tying up T&E Loose Ends: T&E Meets Risk Management (Part 3) [Plus+]

In previous installments of this Plus series, we discussed the amount of risk companies face when deploying workers around the globe and what precautions the company and its workers must take. In Part 1, we specifically talked about duty of care provisions, and in Part 2 we continued his analysis of corporate travel risks. Today, we complete the series by offering a number of recommendations companies should take regarding T&E management.

Identifying And Responding to Risks Faced By A Global Workforce: T&E Meets Risk Management (Part 2) [Plus+]

What do companies need to be aware of when managing corporate travel and a global workforce? Spend Matters VP of Research Thomas Kase, who has experience working abroad and is our main source for T&E management, started this PRO series discussing the amount of risk a company faces when deploying workers around the globe, how much money a company should allocated to risk mitigation and what is required under duty of care provisions. You can check it out here. Here, in Part 2, Thomas continues this analysis of travel risks and corporate obligations.