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.
A closer look at the PayStream Advisors 2017 Supplier Management Report and webinar.
In a recent survey about current supplier management challenges, goals, and practices, PayStream Advisors asked procurement organizations what contributes to poor supplier relationships, and what their priorities are for improving the processes in place. Not surprisingly, access to accurate information was at the heart of both: As a source of supply chain challenges, and as a way to achieve a more strategic level of supplier management. Despite this seeming alignment between problem and solution, increased access to verified supplier information is not an end in and of itself. It is rather a means to two strategic ends: Satisfied internal stakeholders, and healthy supplier relationships.
Backstory: This blog is a synopsis of a presentation by Determine customer Dave Quillin, Manager of Procurement & Third-Party Risk Management at Alliant Credit Union, one of the largest credit unions in the United States, at ProcureCon Indirect West in September 2017. This year, Alliant deployed several modular solutions on the Determine Cloud Platform. This is the story of how they approached the strategy, planning and methodology used to understand and select Determine.
The podcast series that’s all about minding your business in contract management and source to pay.
Following on the heels of a webinar with SIG and Chris Monk of Determine partner Protiviti on Third Party Risk Management Efforts 101: Aligning Supplier Onboarding to Contract Onboarding, the discussion continues with Tony Abel, Managing Director and Chris’ colleague at Protiviti. With few exceptions, third-party risk has been one of our dominant topics over the past 12 months, with good reason. Risk is everywhere; it’s always growing, changing and adapting in order to seek and sneak its way into organizations by any means possible. As Tony points out regarding suppliers and vendors, companies are now largely responsible for those third-parties and the risks they create.
Today marks another milestone in the continued upward trajectory of Determine as we welcome our new Chief Marketing Officer and EMEA SVP, Gérard Dahan. An industry veteran, Gérard brings with him a long and impressive resume, both from within and outside the source-to-pay industry. The fact that he chose to join Determine from among the many companies that were pursuing him, and the reasons why he did so, underscores the vision and goals Determine, as a whole, has worked so hard to achieve.
By way of introduction, what follows are the highlights of a conversation in which Gérard shared his background, the path that led him to Determine and where he sees that path going now that he’s here.
About a year ago we wrote up a four-part blog series around third party risk. As we prepare for a webinar at the end of this month – Third-Party Risk Management Efforts 101: Aligning Supplier Onboarding With Contract Onboarding – I thought it would make sense to revisit the topic by delving into another industry from where I left off…