Procurement as a driver of digitalization and manager of external risks
The increasing regulatory requirements for financial institutions as well as the generally applicable regulations from the Supply Chain Act present purchasing with the challenge of transparently presenting its business relationships with suppliers and service providers and adjusting them as necessary.
To ensure compliance and avoid operational risks in the supply chain, the end-2-end process should be digitized and secured with the help of software solutions and platforms.
Procurement must accept these challenges and actively design processes and supply chains to ensure efficient execution with limited resources. It should also consider how to define its role in the outsourcing process and, if necessary, define and take on the issue of third-party risk management (TPRM) as its responsibility. Here we have extensive experience and ideas.
We know the challenges of the finance and insurance industry from a multitude of projects and can work with you to develop customized solutions. With our processes you meet these requirements effectively.
We support you from the digital strategy to the implementation of digital procurement solutions.
Digital strategy and roadmap for procurement
We can not only provide you with answers and best practices for your pressing questions, but also secure your future:
- How can digitization of purchasing contribute to the goals of my financial institution?
- How do we get a link between outsourcing management, IT requirements (e.g. data protection) and the new requirements of the Supply Chain Act mapped digitally in purchasing?
- Which applications are required for this, how do they interact with the existing system landscape?
- What consequences do changing framework conditions (e.g. new product groups, supply chain law) have on digitization?
- How are the roles and skills of buyers changing?
- What are the costs, but also the benefits of digitization and how do we get it right for purchasing, IT and outsourcing management together?
Our answers also provide you with additional arguments to obtain the financial resources for the further implementation of a digitization roadmap.
We ensure that your fully digital processes meet and continuously improve regulatory and legal requirements.
Ensuring compliance in the sourcing process
Procurement as the responsible party for these administrative compliance requirements? YES and this is a real opportunity!
When it comes to regulatory issues (e.g., due to requirements regarding order data processing, cloud, data security, or the Supply Chain Act), procurement must coordinate closely with outsourcing management and IT.
In the course of the conceptual design, we align the procurement process with the requirements of the business partners and digitally map the quality gates to be met by the business partners. In this way, we ensure in the process that all the necessary requirements for risk analysis and approvals are available in good time and that the necessary information is forwarded in the process. When the contract is signed, all risks are transparent, and the necessary approvals have been given.
H&Z combines functional expertise with many years of experience in the financial industry to design and digitally map your procurement processes from a compliance perspective!
Implement procurement software
Together with our subsidiary aneon solutions GmbH we accompany and control the software implementation worldwide for different procurement suites.
We dovetail consulting experience with implementation experience - we have classic and hybrid agile implementation methods.
Especially during the implementation it is very important to understand the customer's requirements exactly and to provide the translation service to the software provider. As H&Z, we see ourselves as a challenger to optimize the various processes and categories before they are implemented. A successful implementation depends very much on a professional procurement consulting as well as on securing the transformation.
