article thumbnail

The Key Pillars of Third-Party Risk Management

ivalua

This is precisely where organizations see the benefits of a TPRM program built into or working seamlessly with a Strategic Sourcing or Source-to-Pay solution. Figure 2: Critical Risk Factors for Services Organizations. How are organizations leveraging technology to infuse risk information into key decision points?

article thumbnail

What’s the Difference Between Direct vs Indirect Procurement?

ivalua

Capturing Value occurs when a contract has been established that governs the responsibilities and obligations of both supplier and buyer, and well as when the organization has the right Procure-to-Pay processes in place to ensure compliance to those agreements, goods, services and prices. .

article thumbnail

what is the difference between public and private sector procurement?

The Procurement School

demand aggregation As one strategy for meeting this obligation, both sectors look for opportunities for volume buying or ‘demand aggregation’ wherever possible and often approach strategic sourcing from a category management perspective.