Upcoming Webinar: The Accounts Payable Blueprint - Productivity and Protection - Tuesday 12th March - 2:00 PM (GMT) l 9:00 AM (ET)

Proactively manage suppliers and identify risk with real-time, actionable supply chain insights.
Domino-like wooden blocks fall into a sticked word: risk. A person stop the word from falling down, and the rest of the wooden blocks remain upright. Designed to define Procure-to-pay risk management

The Supplier Risk Management / Vendor Risk Management Problem​

The reality of today’s global and interconnected marketplace is that your procure to pay (P2P) department is facing constant threats that may have a serious impact on your organisation’s performance. The negative impact of a single event on your organisation’s financial position or reputation is potentially huge, even devastating. Risk simply cannot be ignored, even while you work to reduce costs.

Organisations with strong supplier risk management / vendor risk management programmes systematically identify, assess, and mitigate threats to their assets and data that might be caused by the organisation’s supply chain. This is critical because although suppliers are essential to business, they can also do damage if their security controls have not been adequately vetted.

Strategies for supplier risk management

By leveraging our software, your procure to pay team can stay one step ahead of risk and be aware of your suppliers, knowing the threat landscape, and being able to classify vendors by their level of risk. You will be able to:

  1. Maintain a high level of visibility of supplier risk through consistent, consolidated and ongoing management of supplier information throughout the supplier relationship cycle.
  2. Build stronger vendor relationships and risk management strategies to counter disruptions as soon as they occur.
  3. Manage compliance with industry and government regulations.

Conclusion

Supplier, or vendor, risk management can be a time-consuming process. To reduce the amount of administrative time and effort spent managing relationships with suppliers, consider FISCAL’s supply chain / vendor risk management software and solution to streamline your supplier risk assessment process.

Want to find out more about how you can reduce procurement risk factors with FISCAL?

Sign up for our Accounts Payable Recovery Audit now.

Share This

Facebook
Twitter
LinkedIn

For further information or to request a demo:

Would you like to know more about what FISCAL can do for you? Contact us at:
[email protected] or call +44 (0) 845 680 1905

OR

Popular

Archive

Archives

Category

Categories

Want to know more about FISCAL Technologies?

We’d love to show you our solutions in action!