Case Study : Intelligent Third Party Management in Action at Accenture Operations
As a case in point , the gold standard in strategic procurement , Accenture , turned to Opus for support managing third party risk .
Accenture Operations — a business function of the leading global professional services company serving clients in more than 120 countries — is reinventing business operations through industrialized business process expertise , technology , applied intelligence and data .
Procurement is one of the Business Processing Services ( BPS ) offered by Accenture Operations , reinventing procurement from source-tosettle — embedding robotics process automation , market intelligence and analytics , and exceptional business process expertise into the process and augmenting existing resources , so Accenture and its clients can move first in the market and accelerate results .
The Procurement BPS team helps operationalize supplier management functions to facilitate continuous improvement , drive compliance and mitigate risk . The BPS team manages more than $ 168 billion in spend , 23,400 + projects and 87,300 contracts per annum across 380 + Procurement BPS clients and Accenture .
Because of this , Accenture works with literally thousands of suppliers and third parties , and needed a robust , automated , reliable technology solution to help identify , assess , manage and monitor third party risk .
As a result , Accenture is partnering with Opus , leveraging their award-winning third-party management SaaS platform , Hiperos 3PM , to support their Procurement BPS services . Accenture selected this solution for its :
• Comprehensive functionality
• Offering maturity
• Financial services and industry expertise
• Ease of client and technology integration
Most important was Opus ’ s ability to create turnkey functionality called accelerators — such as a banking , GDPR or ABAC ( anti-bribery / anticorruption ) accelerator . The key to strategic procurement is efficiency . By offering templates and models that could be reproduced quickly , Hiperos promised quick time to value .
Today , Accenture is actively managing its third parties and recently added functionality to bolster third-party compliance with the General Data Protection Regulation ( GDPR ), going into effect in May 2018 .
Put the strategic in strategic procurement . Free your business from third party risk .
Global business today depends on third parties , from suppliers to contractors to vendors and more .
As reliance on third parties increases , so do the risks — from data breaches , corruption , compliance and financial health and more .
But so do the opportunities . Free your business to manage the risks and realize the opportunities .
Learn more at opus . com / procure
Free Your Business ®
As the organization helps its clients prepare reinvent business processes with “ intelligent operations ” that harness talent , data , and intelligence to deliver the right information where and when it ’ s needed , it also can rest assured it ’ s covered one of its most significant risk factors — and opportunities — third parties .
Now that ’ s , well , intelligent .