Many companies wait for a supplier event to hit before identifying the risks lurking within the supplier base. In the age of big data and digital transformation, implementing a proactive and predictive supplier risk and performance management (SRPM) program is an achievable goal and a competitive advantage.
SRPM programs help procurement organizations deliver additional value to their internal business partners and contribute to the organization’s strategy by mitigating risk across third-party suppliers, complying with increasing regulatory pressures, avoiding production disruptions, and reducing the risk of data breaches. In addition, new cost-effective automation capabilities can improve and digitize the supplier risk management steps, integrating them with the entire source-to-pay lifecycle.
Because third-party suppliers play such a critical role in your business, your procurement organization must institutionalize an SRPM program to be better prepared for the future. With KPMG and Coupa, you can build an effective SRPM program designed to reduce costs, lower business risks, and drive improved company performance, supported by Coupa’s technology.