Does procurement risk keep you up at night?

How technology can help you manage financial and reputational risk in procurement.

Report | 3 min read

Adopting a digital solution to integrate sourcing, finance, compliance, and other tools can reduce procurement risk.

How is this achieved? By providing valuable insights to the people who need it, when they need it, during the procurement process. Also, by making sure your data is integrated so you don’t lose visibility at the system edge.

The right solution can eliminate errors when sourcing data is transferred between systems, provide supplier intelligence to buyers, remove the check for compliance, and more.

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Key Takeaways

Decentralised buying can be manual and poses many issues: non-compliance, fraud, hard to report on, lack of supplier intelligence data.
A digital solution that integrates sourcing, finance, compliance and other tools can significantly reduce procurement risks.
With an integrated technology solution, organisations can gain more insight into procurement activities, ensure procurement processes and policies are adhered to, and empower buyers.