Managing Procurement Risk in Highly Regulated Sectors
“For businesses in (highly-regulated) industries…compliance, transparency and risk management are mission critical. If procurement fails on any of these tasks, the company is likely to face heavy fines, suffer reputational damage and, in extreme cases, struggle to remain viable.” — Managing Procurement Risk in Highly Regulated Sectors, Supply Management Insider
Although some industries are more regulated and face more scrutiny than others, it’s undeniable that overall there is a lot more regulation around today. What’s worse is the pace of change when it comes to those rules, regardless of where in the world you do business. Change is complex, and complexity can be expensive.
Forward-thinking CPOs are increasingly making the case that companies need, at the very minimum, technology that enables them to gain full visibility, track regulatory changes, automate processes like contracts, analyze spend and deliver compliance.
In this comprehensive whitepaper from industry group Supply Management Insider, you’ll gain deep insight into the state of the regulatory environment and develop your understanding of the technological path to compliance. Topics include:
- How the rules are changing, and how fast the changes are happening.
- The challenges for procurement and CPOs, and the costs for not meeting them.
- The technology path to compliance as part of an overall organizational strategy.
Download this comprehensive report from Determine and Supply Management Insider and make sure your procurement processes play by the rules…whatever your industry, whatever the regulations.
