Purchasing software or choosing a vendor can be a multi-faceted effort. Firms are expected to maximise profits and reduce costs and the fast-paced regulatory environment is preventing them from achieving this.
Consequently, the role of Compliance and Procurement within financial services is set to be more tactical than ever as organizations look to gain value through their choice of compliance technology.
Firms are facing higher levels of regulatory scrutiny and are counting on vendors to help them mitigate risks. At large firms, procurement teams are an essential player in helping to manage risk factors and ensure support to the compliance team when choosing a compliance solution.
In this webinar, Kelly Barner, Owner and Managing Director of Buyers Meeting Point 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. The discussion includes:
• 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 transitioning together
• Costly mistakes to avoid when purchasing a compliance software
• Key takeaways and important considerations
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.