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

Global Risk Management Solutions (GRMS)

The rise of managed services is expanding the pie for supplier management, enabling procurement, finance and supply chain organizations to benefit from supplier information and to drive compliance without having to think about software, supplier enablement or direct licensing agreements with individual providers themselves. Global Risk Management Solutions (GRMS) is one such provider taking a managed services approach to supplier compliance and management in a manner that can be cost neutral from the start to procurement. As our Spend Matters PRO analysis of GRMS continues (see the first installment in this series here), we offer perspective on how GRMS’ capabilities compare to and complement supplier management technology platforms and other providers, as well as general strengths, weaknesses and recommendations that potential users of this supplier risk management and compliance managed service should be aware of. We also provide perspectives on the business needs of organizations that are most likely to be a good fit for GRMS, a provider that as of January 2016, had more than 225 customers.

Basware Annual Results – eInvoicing Giants Announce Dash for Growth

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Basware, the eProcurement and eInvoicing firm announced their fourth quarter and annual results last week and, as a publicly quoted company, held a session with city analyst-type folk in London that we also attended (part of it anyway). The results on the surface looked pretty good to us, although year-on-year comparisons are distorted given the acquisition of Procserve in mid-2015. Q4 net sales were up to 39.2 million euros from 34.7 million in last year’s equivalent period, and operating profit was up to €4.3 million from €1.7 million. Over the full year, sales were €143 million, up 12.3% on 2014, […]

Proxima, Catalytics and On-Demand Procurement Services

Catalytics---Pilar-5-Cover

Proxima, a leading procurement outsourcing provider, has been subtly changing their proposition in recent months. Having been to all intent a “pure” outsourcing services firm, they have been talking about a more nuanced approach, using their concept of “Catalytics®” as the heart of their new ideas. Consulting, Managed Services and On-Demand now form the three elements of the services the firm is offering. Managed Services is really not too far away from their core and well established outsourcing proposition, but the emphasis these days is on potential managing elements of the overall procurement activity for clients, rather than looking to win […]

The War For Procurement Talent – Why Not Learn From Leicester City?

football table

Please don’t switch off if you don’t like football – we promise not to make this too obtuse or geeky. But we’ve been wondering for a while how to draw a procurement lesson, parable or learning from what is the most surprising season in English football for many years, so here goes. For those of you who don’t follow the sport, Leicester City, who exactly a year ago were bottom of the Premier League and odds-on certainties for relegation, are now 5 points ahead of every other team at the top of the league. On Saturday, they went to play […]

Carter Report on NHS Performance – Initial Reaction and Procurement in the Media Eye

Lord carter

The Carter report on efficiency in the National Health Service was issued last Friday and made the headlines. With the snappy title “Operational productivity and performance in English NHS acute hospitals: Unwarranted variations” it exposed the range of operation practices, processes and outcomes in different hospitals around the country. Procurement (or third-party spend to be precise) forms a significant element of the report. The FT said it “painted a damning picture of a health service where bullying and harassment of staff is rife and there is little attempt to harness the NHS’s huge collective buying power”. Others thought the identification […]

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.

Down the Procurement Pub with Carter, Raj Sharma, the Royal Marsden, eWorld and Walking On Cars

Raj et al

Here is Raj Sharma of Public Spend Forum (the US sister site to our Public Spend Matters Europe) and Censeo Consulting, Andy Davies of the London Universities Purchasing Consortium, Nancy Clinton of Spend Matters and me having a beer (or two) in the Draft House near Goodge Street. That’s about it, really. Excellent little place, excellent beer, excellent company. (It’s been a bit hectic this week with Raj here so apologies if today’s Down the Procurement Pub is a bit terser than usual)!

Spend Matters 50/50: PwC – A Provider to Know in 2015

We announced here and here our two (not ranked) lists: Spend Matters 50 To Know and 50 To Watch firms for 2015/2016. In the first case, this is our view of the 50 solution provider type organisations in the procurement industry that every senior procurement leader should be aware of and understand. The 50 To Watch are the up-and-coming firms  - those with interesting and relatively new solutions for our market. The 50 To Know are the key organisations in our industry that procurement executives need to have on their radar. Having announced the lists, our US colleagues are now featuring each of the […]

The Latest on Nipendo: Direct Materials Support, A New Dynamic Portal and Customer Recommendations [PRO]

p2p deployment

Innovation lurks in the shadows of legacy e-invoicing and supply chain connectivity approaches, threatening to completely change how we communicate procurement, sales and supply chain information with partners — and even internally. And Nipendo, which we have previously explored in depth here and here as well as an Intel case study here and here, is at the forefront of this radical shift. In this second half (see the first installment) of this update on Nipendo, based on a half-day session looking at the latest from the provider at its R&D center in Israel, Spend Matters details some of the enhancements this disruptive provider is bringing to supply chain connectivity.

Nipendo: Capabilities and Use Cases that Make Supplier Networks Look Like Green Screens [PRO]

Nipendo

There are few technology companies that are doing anything terribly creative when it comes to connecting buyers and suppliers on a transactional basis outside of basic e-invoicing, aside from various tricks involving the onboarding of vendors and enabling downstream activities such as early payment and trade financing. But one vendor stands apart when it comes to pushing the limits of what buyer/supplier connectivity means today by redefining electronic data interchange (EDI) and going far beyond the basics of invoicing alone in a supplier network environment. The provider in question, Nipendo, is exciting on multiple levels, although its reputation has not yet caught up with its capabilities (something we’re hoping to help them remedy with our coverage). One can look at Nipendo as a new type of infrastructure-as-a-service (iPaaS) provider such as MuleSoft or DellBoomi, except one more narrowly focused on trading partner connectivity (primarily involving procurement, suppliers and potential financing partners). In late December I ventured to Israel and took a detour from my trip to spend half a day at Nipendo’s headquarters and explore the latest from this disruptive provider. This two-part Spend Matters PRO brief provides a functional, product and company update to our past coverage of Nipendo, including a look at the provider’s new portal interface.

The Spend Matters Procurement Solutions and Software Stock Portfolio for 2016 [Plus +]

procurement solutions stocks

Regular readers will know that, for the last couple of years, we have created and then followed a stock portfolio, created from the firms who are quoted on various stock exchanges and have a significant interest in the world of procurement technology and solutions. We have also run an internal competition, whereby Jason Busch and I (for two years) and also Nancy Clinton (last year) chose our own portfolio from among the 20 or so firms. But last year we suffered the ignominy of underperforming the market and our overall full portfolio. So although Jason won, we have decided to lick our wounds and not choose our own basket of firms for 2016.

Why the Selection of Your P2P Vendor Affects the Total Cost of Software and Implementation [PRO]

sourcing technology

So far in this series looking at factors impacting the success of P2P programs, we’ve considered such areas as the shifting landscape from on-premise software to cloud solutions as well as six key factors impacting the true costs of deployment. This research brief explores why the selection of your P2P vendor is likely to have a material impact on the costs of the software solution and its implementation beyond just subscription/license fees. It also provides summary observations for organizations selecting and rolling out e-procurement and P2P solutions. Finally, it is important to realize that no two situations are similar. We invite Spend Matters PRO advisory clients to contact us to discuss their selection and deployment situation and considerations as early as possible to avoid unnecessary costs and headache down the line.