Procurement leaders at financial services firms frequently take a very stringent approach to supplier relationship management (SRM), with practices driven by risk control and regulatory compliance. The rigidity of this approach can have crippling effects on the wider performance of procurement teams, who then struggle to justify the ROI on SRM programs.
This status quo is being challenged by procurement teams at market-leading financial services firms. In a new report, Transforming Supplier Relationship Management in Financial Services: A New, Tech-Driven Collaboration Model to Mitigate Risks and Optimize Value, experts from GEP share insights on disruptive factors in the industry and outline strategies for building high-performing SRM programs.
Inside This Paper:
- Envisioning a New Supplier Collaboration Model
- Defining SRM Scope and Designing a Solid Framework
- Enabling Transformation Using Unified Source-to-Pay Procurement Technology
A must-read paper for every procurement and supply chain leader in the financial services industry.