Ardent Partners and Determine, the Indiana-based source-to-settle and contract lifecycle management solution provider, recently teamed up to produce one of Ardent’s newest reports, Better Together: Linking CLM with SIM to Improve Third-Party Risk Management (click to download). If you’re a procurement leader or practitioner and you grapple with the liabilities and risks associated with supplier contracts and information, then this report is for you. Get your hands on it right here.
Organizations today and for the foreseeable future must have visibility into supplier and third-party operations in order to mitigate risks and achieve compliance. But, that is often easier said than done. The visibility challenge is compounded by the growing volume of data flooding the typical procurement organization from multiple, disparate systems. Spend, supplier, contract, and third-party information can overwhelm organizations’ procurement, contract, and risk management teams and preclude them from taking prudent action. This report will illustrate how integrated, user-friendly Contract Lifecycle Management (“CLM”) and Supplier Information Management (“SIM”) solutions can enable the visibility that supports better third-party risk management and improved compliance.
Chief Procurement Officers (“CPOs”) and enterprise procurement teams have been responsible for achieving and maintaining compliance to supplier contracts and corporate policies for many years. This has not changed and will not change, particularly as greater internal compliance correlates with superior financial and operational performance and reduced risk. If anything, the CPO’s responsibility to drive compliance and reduce risk, in many forms, is increasing. As a result, CPOs, their teams, and other supply management practitioners would benefit from the enhanced visibility, control, compliance and risk management capabilities that often emerge when organizations adopt CLM and SIM tools and synergize their capabilities. This report (click to download), can help leaders and practitioners alike better understand:
- How procurement technologies, in general, can help to shine light on dark business practices, like child labor, conflict, human rights abuses, and other political/social matters of concern to corporate entities;
- How SIM solutions can help CPOs and their teams collect, categorize, and fuse enterprise-wide supplier information and assist practitioners in supplier performance and risk management efforts;
- How CLM solutions can help drive internal and external compliance efforts and reduce or mitigate supply risks;
- How SIM and CLM solutions, combined, can help procurement teams drive enterprise-wide compliance, performance, and risk management; and
- Strategies for successfully implementing supply risk management programs and processes, including adopting and linking CLM and SIM tools to achieve the desired results.
With the new year approaching, get a leg up on enhancing your supply risk management processes and capabilities today – download Ardent’s newest report, Better Together: Linking CLM with SIM to Improve Third-Party Risk Management (sponsored by Determine).