Category Archives: Featured Posts
This article was first published in ACC Docket, September 2016. The cloud will make your legal team’s global operations more efficient. The cloud will also bring much-needed transparency to and increased collaboration with your company’s suppliers.
One idea that has not changed, nor will ever change for procurement, is the importance of managing cost. In fact, procurement’s raison d’être, headed by the Chief Procurement Officer or other procurement executive, is and always will be focused on controlling cost; but it increasingly requires the adaptability to adjust to the world around it.
How SIM & CLM can save millions of dollars: A Look at the Financial Industry As we continue the series on managing third-party risk—SIM-CLM, it is clear that every organization has a different take on what is most critical to understanding its value. For financial organizations, addressing third-party risk has partly translated into managing a complex workflow of regulations compliance and risk prescribed by regulatory agencies that have been dominating the landscape.
“Risk” Is in the Eye of the Beholder I am still amazed at how the conversation about a broad topic such as risk is dependent on the individual I am speaking with, and more often will just be focused on contract management.
Introduction to SIM & CLM: Why supplier risk isn’t just a Fortune 100 company issue. The responsibility for managing suppliers and supplier contracts has taken on a heightened level of interest and concern in recent years. Highly regulated industries including finance, healthcare and food services, are forced to re-evaluate how supplier information is collected and how contracts are managed. With fines that can be in the millions, the potential of being audited and penalized due to non-compliance is real.