Assess and reduce risks associated with procurement processes

Mitigate the impact of supplier and procurement risks to protect business continuity and corporate assets

Protect the value your company creates by controlling risk factors and inefficiencies in supply management. With continuous monitoring, guided data analysis, and a customized action plan, you can consolidate your supplier base, identify savings opportunities, and minimize the impact of unforeseen events on your business.

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The power of an eProcurement platform that integrates risk management

A more robust supplier base

Global visibility into a supplier’s risk indicators – geographic, financial, ESG – and its contractual performance, expressed through ratings, enables optimization of the qualification process and captures any sourcing diversification needs.

Better purchasing decisions

Risk Management guides CPOs, category managers, and buyers in analyzing multiple aggregated data sources, both internal and external to the organization, greatly simplifying the decision-making process.

Protect business continuity

Immediate mapping and ranking of risks according to a priority matrix, with segmentation by commodity category and supplier type, is key to mitigating supply chain risks.

Better control over compliance

Sharing information between the Supplier Management and Contract Management modules makes it easier to monitor compliance standards and ensure supplier compliance for improved risk management and mitigation.

More sustainable procurement processes

The procurement function plays a critical role in the overall sustainability of the business: risk management makes it easier to monitor suppliers’ and third parties’ compliance with environmental, social, and governance (ESG) criteria, which benefits reputation and brand advocacy.

Optimize strategic KPIs

Proactive risk management in procurement avoids costly surprises and improves collaboration with suppliers, allowing you to control spend, reduce the total cost of ownership (TCO) of procurement, and ultimately increase ROI and cash flow.