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Risk and Compliance

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.

Understanding “Duty of Care” When Managing Corporate Travel: T&E Meets Risk Management (Part 1) [Plus +]

travel

Vendors hawking T&E software that spans travel booking and expense management claim that it is not just about policy compliance, but that it is also about the risk management benefits of actually seeing where employees (or contractors) are and, in the event of an emergency, being able to provide support as quickly as possible. Enabling this level of visibility and guidance is not just good business practice; there is also a legal angle to it, which varies country by country (e.g., the menacing sounding “corporate manslaughter law” in the U.K.). But in certain cases, T&E software companies (e.g., Concur) might engage in a bit of fear mongering as a sales tactic, as well. The stick prompts many to action more effectively than any amount of carrot.

The risks exist, of course, and in this Spend Matters Plus brief we provide a primer on managing travel and the global corporate workforce, including the requirements and limits of duty of care provisions, as well as what procurement needs to know and how far it should consider going both as good business practice and under the law. 

ClientLoyalty: Vendor Snapshot (Part 3) — Summary and Competitive Analysis [PRO]

ClientLoyalty competes in what we could most accurately describe as a “sub-sub” segment of the supplier management market. Usually such niches relegate solution providers to a small corner of market obscurity, often to build profitable businesses that go unnoticed by most. But there is actually a real potential market in what ClientLoyalty is attempting to create alongside a select number of other technology providers also focused on the management of strategic supplier relationships: a market for a true supplier relationship management solution.

While there are many solutions today that address supplier information management (SIM) and also supplier performance management (SPM), only a handful actually focus on supplier relationship management — which we are hesitant to call SRM, because the term was usurped by ERP years ago and given an entirely different meaning. ClientLoyalty is one of the few, avenging the “SAP SRM” and “Peoplesoft SRM” product names that did such an original disservice to what SRM is really about. (Hint: It’s not e-procurement!)

This final installment of our Spend Matters PRO Vendor Snapshot series covering ClientLoyalty offers a competitive analysis and comparison with other supplier management providers for shortlist consideration. It also includes a SWOT analysis, user selection guide, summary evaluation and selection considerations. Part 1 and Part 2 of this PRO research series provided a company and deep dive solution overview, product strengths and weaknesses and a recommended fit analysis for what types of organizations should consider ClientLoyalty.

How to Use ISO9001 to Achieve 100% Mandated Spend Under Management [Plus +]

risk

The latest version of ISO9001 (called ISO9001:2015) is a “quality system” that is really a business management system customers might ask you to get certified in — and that you may in turn ask your suppliers to get certified. The beauty of ISO9001:2015 is that it can actually help you do both of these things simultaneously while also using the power of a customer-required certification as a way to drive internal change management. In the previous two installments that I wrote on ISO9001, I focused on using ISO9001 for such transformation, specifically on how to align risk and compliance, and to build a business case for supply risk management.

In this two-part Spend Matters Plus brief, I highlight how to use ISO9001:2015 to not just run the business but more specifically the business of procurement. This will illustrate how to make a quality management system that is more than just a transformative business management system — a transformational supply management system.

More important, this brief delivers deeper dive into ISO9001:2015 and shows procurement professionals how exactly how to use it to drive 100% spend influence in strategic sourcing and supplier management. People often forget that spend/supply influence also includes supplier management, when, in fact, the leader of ISO9001:2015 described the capabilities from ISO9001 simply as “confidence that customers around the world right through the supply chain — business-to-business and business-to-consumer — right down to us as individuals, can have confidence in the products and services they’re receiving from their certified suppliers”

It makes complete sense, and the certification can help procurement drive a case for change on this simple idea.

Procurement organizations almost always say, “We can’t mandate anything around here.” Well, now you have a mandate. So, use it to your advantage. We’ll show you how.

Agility and Risk Management in the Supply Chain [Plus +]

supply chain

As they relate to complexity and risk in the supply chain, the terms agility, resilience, responsiveness and adaptiveness are all thrown around in the popular supply chain press these days. All of these terms do share similar associations but shouldn’t all just be lumped together in the same big semantic stew. In this analysis, we’ll offer up a framework that may be useful in thinking about these terms and applying them to your supply chain.

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.

Measurement and Management: Your Supply Risk Management 2016 Game Plan (Part 4) [Plus +]

Supply risk management

As our examination of supply risk management best practices for 2016 continues, we turn our attention to measuring supply risk scoring in business terms, incorporating variation and volatility into risk models beyond just structural complexity and fully considering supply risk management as an embedded process. Taken as a whole, this four-part Spend Matters Plus series collectively provides an outlook on how best to define and manage supply risk programs in 2016, based on lessons learned from leaders. Part 1 defined the major risk categories to which an organization is exposed. Part 2 discussed a risk management strategy based on global contemplation and local implementation, and part 3 discussed risk and reward alignment.

Risk and Reward: Your Supply Risk Management 2016 Game Plan (Part 3) [Plus +]

Supply risk

In our previous installment of this four-part Spend Matters Plus series presenting what your 2016 supply risk management game plan should look like, we discussed a risk management strategy based on global thinking and local implementation an organization could use to fast-track its development of a risk management strategy. In this part, we will cover risk and reward alignment through better supply risk responsibility as a key to adoption; getting visibility with a C-level composite supply risk metric; and getting suppliers on board, before moving on to discuss how to monitor and manage your risk management program for success in the final post of the series.

EPA Clean Power Plan, MATS Rule and Procurement: Analysis and Implications [Plus +]

Earlier this week, more than 20 states and a host of industry groups officially filed suit against the Environmental Protection Agency (EPA)’s Clean Power Plan. Before that, a U.S. Circuit Court of Appeals stayed EPA’s new “water rule” in all 50 states. Both of these developments came after a late June ruling in which the US Supreme Court struck down EPA-directed regulations for limiting mercury and toxic emissions from coal and oil power plants – known as the MATS (Mercury and Air Toxics Standards) rule. From a procurement and supply chain vantage point, that ruling was arguably the most important decision the nation’s highest court has made in the past decade. Not only does it cut to the very heart of procurement’s mission to manage costs, but it has direct linkages with energy sourcing and category management. This Spend Matters Plus brief analyzes the implications of these three EPA-driven regulations for procurement practitioners and supply chain organizations and provides recommendations for both manufacturers and non-manufacturers on how to take action around policy and regulations.

New Research: Engage Independent, Freelance Workers – Without the Risk

procurement

It's true: Businesses can get in the independent and freelance worker game without the compliance risk that can rear its ugly head. Andrew Karpie, research analyst, services and labor procurement, presents Businesses Can Engage Independent and Freelance Workers and Mitigate Compliance Risk – Here’s How. Get your copy today!

Shining the Spotlight on Procurement Risks – Which Solution Providers Can Help? [Plus +]

It’s another Flashback Friday here on Spend Matters. You don’t want to risk missing out on another one of our most popular Ask the Expert webinars of all time: Providers Who Actually Get to the Root of Risk & Compliance. As Thomas Kase, vice president of research, warns in this webinar from our archives, risk is lurking ahead for every procurement organization regarding finances, performance and compliance. You need to manage this risk to avoid the consequences. How do you do this effectively? And, which solution providers offer the best tools to help procurement organizations tackle risk? (Hint: Check out the webinar!)