With the financial services sector leading the charge, the focus on effective supplier risk management and legal and regulatory compliance has significantly increased in recent years. At the same time, the pressure on organizations to reduce operating costs continues to mount. While outsourcing can be an effective way to reduce operating costs, particularly with emerging technologies such as cloud services and an increase in low cost, offshore service providers, the increasing demands associated with supplier risk management requirements can pose a unique challenge to organizations seeking to take advantage of these cost savings opportunities while sufficiently managing risk in a cost effective manner that will not erode the savings to be achieved through external sourcing.

This presentation will examine some of the emerging trends and strategies to manage these competing pressures, with a focus on certain key issues and challenges, including the following:

• Supplier due diligence scope and standards: are you doing enough?
• Privacy and data security risk management in a global, cloud-based world
• Managing risk in a multi-vendor, competitive environment
• Managing the risk of supplier dependence: sole source vs. multi-sourcing, renewal strategies, ensuring transition flexibility, and more”

Contributors: Osler, Oxler
Categories: 2014 Jun 9 - Toronto, Symposium
SRC Type: Risk Management, Risk Management Outsourcing (RMO), Sourcing, Sourcing Management, Trends