Procuring an integrated conduct risk and compliance technology solution requires compliance officers to examine and manage several changes.
Firms are expected to maximize profits and reduce costs when choosing or changing vendors. A compliance technology solution can help firms to manage conduct risk, monitor conflicts of interest, comply with the fast-paced regulatory environment and reduce reputational risks. Besides, the benefits of saving costs and time if selecting the right solution.
During the selection journey for the best compliance technology match, the procurement team needs to be involved, both, compliance and procurement, need to work together to increase the value through their choice of compliance technology.
The compliance and procurement partnership must be strategical, and it is crucial they know their roles and responsibilities during the evaluation and selection process. In many occasions, the responsibilities can create confusion and some questions may arise. Nevertheless, if working together, compliance and procurement can accomplish the desired success using the right process of selection to ensure compliance is supported.
If you want to know more how to work with procurement for best results, join MCO & Kelly Barner, Owner and Managing Director of Buyers Meeting Point for this webinar that looks at what compliance officers need to know about working with procurement when implementing new software and the importance of each player in the buying cycle, including:
- Overview of ‘typical’ procurement process
- Dealing with procurement expectations (and terminology!)
- Roles and responsibilities during the evaluation and selection process
- Deciding how to decide: setting the framework for comparing software options and making a selection
- Best practices for technology contract terms and conditions
- From award to implementation – how procurement and compliance can transition together
- Costly mistakes to avoid when purchasing a compliance software
- Key takeaways and important considerations
Our Partner - Buyers Meeting Point and Kelly Barner
Buyers Meeting Point is an online knowledge and professional development resource for procurement and supply management professionals owned and managed by career procurement professional Kelly Barner. Buyers Meeting Point was founded in 2009 to provide the procurement industry with an events calendar, blog, content, and active social media network, all of which have remained trusted sources of information for practitioners and solution providers alike. In 2020, Buyers Meeting Point acquired MyPurchasingCenter, a website designed to provide procurement professionals with the information required to keep their companies competitive in a dynamic global marketplace, to expand their audience, social media reach, and content base.
Kelly Barner owns, manages, and edits Buyers Meeting Point. She has a unique perspective on procurement from the numerous roles she has held during her 15+ years in procurement. Kelly worked for Ahold USA (parent company of grocery chains Stop & Shop, Hannaford, Giant Landover, and more) on their not for resale sourcing team, specializing in systems implementation and hired services category sourcing. She spent three years as the Associate Director of consulting services at Emptoris before it was acquired by IBM in 2011.