SpendEdge Reduced Third-Party Risks by 70% for a European Financial Services Company | Request a Free Proposal for In-depth Insights
LONDON--(BUSINESS WIRE)--Dec 20, 2019--
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.
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The company wanted to improve procurement contract processes to reduce risks. The key objectives of the engagement are mentioned below.
“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:
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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SpendEdgeshares 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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INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE
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PUB: 12/20/2019 11:41 AM/DISC: 12/20/2019 11:41 AM