SpendEdge Reduced Third-Party Risks by 70% for a European Financial Services Company | Request a Free Proposal for In-depth Insights

View the full release here: https://www.businesswire.com/news/home/20191220005324/en/

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, December 20, 2019
Information
Tags: 
Professional services, Finance, Business, Supply chain management, Systems engineering, B2B, E-procurement, Procurement, Risk management, Supplier risk management, Sustainable procurement, Vendor management system
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Summary
Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20191220005324/en/
    The company wanted to improve procurement contract processes to reduce risks.
  • Request a free demo and know how we can help you manage supplier risks and provide access to over 1000+ procurement reports.
  • In collaboration with SpendEdge, the client a financial services company gained suppliers information with visibility to all and reduced fatigue from repeated assessment requests.
  • To access the complete case study on how our supplier risk management solutions helped a European financial services company to reduce third-party risks by 70%, read the complete case study here!


SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing third-party risks by 70% for a European financial services company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191220005324/en/

Project background

The company wanted to improve procurement contract processes to reduce risks. The key objectives of the engagement are mentioned below.

  • Objective 1: The company wanted to segment vendors across the entire supply chain and improve visibility to identify potential problems.
  • Objective 2: They also wanted to address operational silos to capture and coordinate vendor contracts.
  • Interested in gaining detailed insights? Request a free demo and know how we can help you manage supplier risks and provide access to over 1000+ procurement reports.

“Since risk strategies in the financial services industry remain inadequate, companies must devise effective risk mitigation strategies to innovate and boost efficiency,” says a procurement expert from SpendEdge.

Key findings and solutions offered

In collaboration with SpendEdge, the client – a financial services company – gained suppliers’ information with visibility to all and reduced fatigue from repeated assessment requests. The solution offered helped them to:

  • Trace audit trails and improve accuracy.
  • Reduce third party risks by 70%.
  • Are you looking for solutions to reduce supplier risks? Request a free proposal to access our customized supplier risk management solutions today!

Outcome: To help the client resolve 3LD challenges, the financial services industry experts devised an effective strategy to improve the risk management process. They identified companies that could automate risk assessment capabilities through advanced risk modeling. This helped the client to engage with suppliers more effectively and nurture long-term relationships with them. A single repository was created to encode risk best practices into a specific line of business workflows.

To access the complete case study on how our supplier risk management solutions helped a European financial services company to reduce third-party risks by 70%, read the complete case study here!

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About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

To gain more information, https://www.spendedge.com/get-more-info

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Copyright Business Wire 2019