As financial institutions continue to embrace and implement digital-first strategies, they often run up against the challenge of onboarding new vendors — a slow, risky process that can put digital transformation initiatives in jeopardy. There’s a good solution, though: synchronization of third-party risk management with the firm’s procurement system.
A new white paper from GEP and TechTarget — Digital Procurement Transformation in Financial Institutions: Optimizing Third-Party Risk Management with a Unified Procurement Platform — presents the case for integrating procurement and third-party risk management with a single source-to-pay platform. The paper also includes tips for making the transition to a unified, end-to-end procurement system without having to rip and replace everything that’s already in place.
- Sustaining digital-first strategies by integrating procurement and third-party risk management
- Five key features to look for in an effective source-to-pay system
- Success stories from financial firms that have adopted unified procurement platforms
Learn more about the transformative power of a single, cloud-based, unified source-to-pay platform with embedded third-party risk management.