Procurement needs to be familiar with their company’s spend and purchasing habits on a very detailed level. This requires a combination of spend analysis, contract reviews and stakeholder interviews. What they must remember, however, is that procurement does not just need to increase visibility for the sake of their own understanding, but rather to increase the understanding of all decision makers in the organization.
This article was first published in the ACC Docket, August 2016.
In Part 1, we covered the idea of technology as both the catalyst for – and result of – “boundaryless” organizations, and why legal needs to embrace expertise in these integrated systems. In Part 2, we look at how people are also becoming silo-less through the power of self-service.
Employees without boundaries: Going self-service.
Reducing the Cost of Physician Self-Referrals with Better Compliance: What SIM & CLM Offer Healthcare Providers in Managing Stark Law
Physicians have been abiding by a code of ethics since antiquity. Next time you go to your doctor’s office look around and you may see the Hippocratic Oath hanging on a wall. Considered a rite of passage written by Hippocrates of Kos in the 5th century BCE, the oath requires a new physician to swear to uphold specific ethical standards.
Non-Compliance in Food Safety Is High Risk for Everyone: What SIM & CLM Offers Food Services Industry in the Context of Third-Party Risk Management
Like many industries, the food service industry is challenged with having to adhere to regulatory compliance. However, unlike most industries, the impact of lack of compliance regarding quality and safety in the food supply chain is not only a business challenge that presents possible reputational damage, but can potentially pose a huge public health risk.
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.