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Supplier Risks And Confronting Supply Chain Unknowns

PYMNTS

Earlier this month, GEP revealed a partnership with Global Risk Management Solutions (GRMS) as part of its efforts to streamline the vendor risk mitigation process for clients. “It’s not just about placing a purchase order and paying an invoice,” Blake said.

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A New Reality For Supplier Risk Management

PYMNTS

Supplier risk management is often a resource-intensive practice and rarely a target of technological investments. As a result, corporates will often let their vendor relationship management processes fall by the wayside. “Before, companies would think they needed to assess risk once a year,” Frank said.

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Uncovering The Blind Spots Of Supply Chain Financial Risk

PYMNTS

It's one of the biggest blind spots in supply chain risk management, said Allis. The risk score ranges from 1-100 and considers 800 variables to understand how likely it is that a supplier may go bankrupt or default on existing obligations like loan or invoice payments. "It I need to be proactive there,'" said Allis.

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For Mastercard/OpenText and the Automotive Industry: Have Trust, Will Trade

PYMNTS

She said that Mastercard Track, which integrates with procure to pay processes (from invoicing all the way to electronic payment), “is not about writing another digital platform that is operating in isolation …but creating a platform that is about access to Mastercard and its partners.” And it is that sense of security that is paramount.