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February 15, 2018

A Look at Supplier Risk in FinServ

A Look at Supplier Risk in FinServ

Financial Services (FinServ) organizations – banks, insurance companies, wealth management firm, wirehouses – are constantly trying to find a balance between regulatory mandates and expectations, and operational efficiency. Massive supplier data breaches seem like they have become an almost regular occurrence (when they’re reported), customer privacy and data laws are becoming more stringent (GDPR), and predatory behavior by suppliers and vendors is an ongoing issue. Certainly, the porous nature of globalization isn’t making things any easier. With all that to contend with, it’s critical to remember that you can pin the blame for risk on third parties, not the responsibility for it.

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February 13, 2018

Top 10 Tips for Winning Procurement Stakeholder Support

Top 10 Tips for Winning Procurement Stakeholder Support

How to make friends and influence outcomes

Procurement does not have an easy job. We function as the spending conscience of the enterprise. When a contract is going to be awarded, we make sure a careful selection process is followed and that every specification or requirement associated with additional cost earns its place. We ensure that incumbent suppliers deserve renewed business, and push all suppliers to perform their best on behalf of the company. As important as all those things are, it can often leave procurement looking like the “skunk at the garden party” from an internal procurement stakeholder perspective.

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February 7, 2018

3 quick tips on using CLM to work smarter and faster

3 quick tips on using CLM to work smarter and faster

If you’re reading this, you already know the importance of contracts to your organization. Every business transaction, supplier, partner, customer involves some sort of contract, so it’s critical to get them right. Here are three reminders of how to use CLM to work smarter, collaborate better, seize opportunities faster, mitigate risk and be better empowered to make intelligent business decisions and ensure compliance.

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February 5, 2018

3 benefits of an integrated and automated contract management process

3 benefits of an integrated and automated contract management process

You don’t have to be a corporate general counsel to know that managing contracts can be complicated and time consuming. While almost every contract starts with a request, and ends (hopefully) with renewal, there’s a lot that needs to go on — and sometimes doesn’t — in between. That’s where an integrated and automated contract management process comes in.

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February 1, 2018

Lack of data visibility is your biggest contract risk.

Lack of data visibility is your biggest contract risk.

Our recent webinar with IACCM, Contract Management – Beyond the Expected, raised a lot of interesting and varied points about the need for contract lifecycle management, and the potential complexity involved. Especially around data visibility – or lack of it, what Sean Delaney, VP of Sales at Determine, called “data disaggregation.” Which is a fancy-pants way of saying your data is a hot mess.

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January 30, 2018

Rethinking SRM as the Dust Begins to Settle on Carillion

Rethinking SRM as the Dust Begins to Settle on Carillion

I recently shared my initial thoughts about the news that Carillion, the 2nd largest construction company in the UK, had gone into liquidation because it could not secure the funding required to stay in operation.

As a reminder, Carillion is a private sector firm that provided a wide array of public services across Britain. They served lunches in public schools and provided maintenance to prisons; They provided cleaning and foodservice in hospitals, and they maintained roads. Perhaps most importantly, they did all of this through a huge network of subcontractors and partners, many of whom are now facing financial difficulties in the wake of the Carillion collapse. By some estimates, up to 30,000 companies could be affected.

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