With issues around supply chain compliance and ethics becoming more prominent, SAP Ariba has expanded the vetting capabilities within online B2B marketplace SAP Ariba Spot Buy, to include risk assessments for suppliers delivered by Global Risk Management Solutions (GRMS).
“When it comes to some indirect spend, the role of procurement is changing from negotiating deals to creating a dynamic marketplace within a compliant environment where users can get what they need,” said Robert Ward, procurement process and performance manager, NSG Group. “And with SAP Ariba Spot Buy, we can do this.”
GRMS evaluates and continuously monitors suppliers against more than 1500 global governmental watch lists and enforcement and sanctions sources. The service also offers the risk assessment modules in regulatory compliance, financial stability, insurance management, reputational protection, health and safety, social responsibility, cyber security and document management.
“Monitoring key supplier performance metrics is tough enough, but identifying and monitoring supplier managing risk on an enterprise-wide basis is an entirely different matter and a difficult challenge that frankly, most companies have a hard time even scoping,” said Joe Fabiani, chief operating officer, GRMS.
“The combination of highly configurable software, data and transparent, expert human interventions powers a practical, effective and market-leading approach.”