ENTERPRISE IT
“ Automated processes and complete data access and management make it much simpler for your procurement team to establish and enforce the standards vendors are required to meet in order to gain , and keep , your business ,” he says . As well as collating swathes of high-visibility data within the business , he advocates for using AI to automate “ low value and repetitive tasks like data entry , template population and customer service requests .”
“ Your team can dedicate its time and talents to high-value strategic work and still be able to jump in when needed .”
OLD HABITS
Although the pendulum has swung towards using SVM to manage increasingly complex vendor rostas , the old justifications for using vendor management systems remain . In fact , as scrutiny on the tech sector has grown , so has the importance of keeping an audit trail and maintaining a high degree of accountability over potential or actual security threats . Governance , risk management and competence firm Quantivate has compiled a questionnaire for vendors who may be at risk during the Covid-19 pandemic . It includes questions on business continuity , service interruption , impact over time , security risks arising from a work-from-home policy and , perhaps most pertinently , asks whether they have asked their own vendors and suppliers similar questions .
The company says , “ Proactive action to reassess the risk levels of your critical vendors is a must in these uncertain times .”
technologymagazine . com 91