Digital innovation moves procurement risk and transparency forward

| 0 Comments
RudiKruger_2017.jpgThe act of obtaining or buying goods for business can be extremely complex. Compounded by numerous risks and time-consuming tasks, the additional pressures of procurement (like planning, supplier research, value analysis, price negotiation, contracts administration and inventory control) only add to the overall stress of the job. With so much to consider, the need for safe, efficient and reliable solutions to meet the demands of procurement are highly advantageous.

Today, digital solutions are constantly changing the way business is done. The advancement of technology has transformed almost every sector and operation for the better and there's no sign of it slowing down, says Rudi Kruger, General Manager of Risk Solutions at LexisNexis Data Services. "Technological innovation benefits business by putting pioneering solutions in the hands of busy professionals, thus promoting self-sufficiency and accuracy," he said.

In procurement, digital innovation has several benefits. "The business of procurement has immense scope and need for innovation. These include solutions to not only make the function simpler, but also to eliminate risk, increase transparency and create equal opportunity, thus ensuring effective spending for a business," said Kruger.

Most importantly, solutions that assist with combatting fraud are highly valuable. "Fraud is a great concern in any financial transaction, but can be even more concerning when there are employees and external suppliers involved," said Kruger.

Consequently, supplier vetting is one of procurement's tedious processes that can be simplified with a technology solution.

Web-based systems can assist organisations (public and private) and procurement professionals to identify and prevent corruption within procurement processes by vetting existing and potential suppliers.

When evaluating potential solutions, Kruger advises that candidate technologies must be able to recognise conflicts of interest within your organisation, potential suppliers or supply chain partners; and identify potential connections and ownership of property, and highlight outside business interests of employees, which helps combat corruption.

To mitigate reputational risk, organisations must investigate negative and positive news on suppliers and employees, which is another area in which technology can be a great ally.

To for more information on how technology can be leveraged in vetting your suppliers, contact Rudi Kruger on rudi.kruger@lexisnexis.co.za or visit procurecheck.co.za.

Leave a comment


SmartProcurement Newsletter
X

Please enter your details below to receive the SmartProcurement Newsletter for FREE on a regular basis.

As part of the SmartProcurement Newsletter you will be receiving World Class Procurement News, Tools, Tips, Tactics, Procurement Training updates, Upcoming Events, and the latest Procurement Career Openings.

* Email Address:
* Title:
* First Name:
* Surname:
* Company:
  Position:
* Country:
* Public / Private:

 

 

Career opportunites

Commodity Manager

  • <500 000 Commodities Gauteng Permanent Procurement Management
Category: Procurement,Salary: R700 000 - R800 000 per ...More

Supply Chain Manager

  • <500 000 Gauteng Permanent Procurement Management Supply Chain
Category: Consulting,Salary: R750 000 - R800 000 CTC ...More

Logistics Manager

  • <500 000 Across borders Logistics & Warehousing Permanent Procurement Management
Category: Logistics,Salary: R900 000 - R1 000 000 ...More

Demand Planner

  • <500 000 Gauteng Operations, Planning & Inventory Permanent Projects / Category Management
Area of Specialisation: Planning,Salary: R500 000 - R650 ...More

Industrial Engineer

  • <500 000 Analyst Gauteng Industrial Engineer Permanent
R800 000 - R850 000 CTC per annum.Location: ...More

Security Manager

  • <500 000 Analyst Gauteng Permanent Procurement Officer / Specialist
(Total Cost to Company R350K - R550K).This is ...More

Operations Manager

  • <500 000 Gauteng Operations, Planning & Inventory Permanent Projects / Category Management
(Total Cost to Company R650k - R750k) excluding

Commodity Manager Raw Materials

  • <500 000 Commodities Gauteng Permanent Strategic Sourcing
(Total Cost to Company R980k - R800k) excluding ...More

Commodity Manager Logistics

  • <500 000 Commodities Gauteng Logistics & Warehousing Permanent
(Total Cost to Company R1mil - R900k).Industry: Engineering

Procurement Consultant

  • <500 000 Gauteng Permanent Procurement Consultant Procurement Management
(Total Cost To Company 550K - 450K) includes ...More

Commodity Manager MRO &CAPEX

  • <500 000 Commodities Gauteng Permanent Projects / Category Management
(Total Cost To Company 900k - 750k) includes ...More

Commodity Specialist - IT Hardware and Software

  • <500 000 Commodities Gauteng Logistics & Warehousing Permanent
(Total Cost to Company R550k - R650k) including

Sourcing Specialist

  • <500 000 Gauteng Permanent Procurement Officer / Specialist Strategic Sourcing
(Total Cost to Company 500k - 650k)Experience and ...More

Supply Chain Manager

  • <500 000 Gauteng Permanent Procurement Management Supply Chain
(Total Cost to Company R850k - R1mil) includes

Senior Consultant

  • <500 000 Gauteng Permanent Procurement Consultant Strategic Sourcing
(Total Cost To Company 500k - R750k) includes ...More

I.T Procurement Specialist

  • <500 000 Gauteng Permanent Procurement Management Procurement Officer / Specialist
(Total Cost to Company R350k - R450k) includes

Logistics Manager

  • <500 000 Gauteng Logistics & Warehousing Permanent Procurement Management
(Total Cost to Company R700k - R550k) Including ...More

Sourcing Specialist ICT

  • <500 000 Gauteng Permanent Procurement Officer / Specialist Strategic Sourcing
(Total Cost to Company R500k - R650k) includes ...More

Category Specialist Indirects

  • <500 000 Analyst Gauteng Permanent Projects / Category Management
(Total Cost to Company R500k - R700k) includes ...More

Production Planner

  • <500 000 Operations, Planning & Inventory Permanent Western Cape
(Total Cost to Company R380 - R450k including ...More