Global

Navigating Supply Chain Complexities With Sustainability

Posted: 12/22/2020 - 04:50
Author: Pierre-Francois Thaler
This year has proven complex for organizations and their supply chains as they adapt to an ever-changing landscape filled with new risks and volatilities.

This year has proven complex for organizations and their supply chains as they adapt to an ever-changing landscape filled with new risks and volatilities.

Forward-thinking leaders are turning to sustainability as the solution for building long-term resiliency and ROI. The recently released EcoVadis Business Sustainability Risk & Performance Index shows there is additional work to be done in the journey toward more sustainable business.

New Survey Reveals Impact of COVID and Remote Work on Employees

Posted: 12/08/2020 - 03:00
Author: Anant Kale
Organizations have made significant changes to enable working from home, but what has it meant for employees, and, specifically, their expense claims?

Organizations have made significant changes to enable working from home, but what has it meant for employees, and, specifically, their expense claims?

AppZen, the leading AI solution for modern finance teams, released new data that reveals how the pandemic and remote work have impacted company expense reports. CEO Anant Kale provides insights into the findings and how companies should take note when it comes to handling employee expenses moving forward.

Making the Case for Ongoing KYC: Why the Time for Change is Now

Posted: 12/08/2020 - 01:40
Author: John O’Neill
AI can also ensure that learnings from transaction monitoring or false positives are used to refine initial KYC questions, optimizing not just the KYC process but the full AML value chain.

If you work in financial services then you’re already aware that knowing your customer (KYC) is not just an essential process, it is also a legal requirement. It’s part of the essential tasks banks perform to tackle anti-money laundering (AML) and other financial crimes.

Back in June 2017, the European Commission’s Fourth AML Directive set out new rules to help combat money laundering. This was supplemented in January 2020 with the Fifth AML Directive, which aimed to increase transparency about who really owns companies and other financial entities.

Six Strategies for Deciding Which Customers to Serve When Disruption Strikes

Posted: 12/01/2020 - 03:05
Author: Dr. Yossi Sheffi
Large-scale disruptions such as the COVID-19 pandemic cause huge supply/demand imbalances due to interruptions in supply or surges in demand.

Large-scale disruptions such as the COVID-19 pandemic cause huge supply/demand imbalances due to interruptions in supply or surges in demand. In an unstable environment, companies often have to prioritize which customers they serve.

Past disruptions reveal how companies on both ends of the supply chain have handled such challenges, both in terms of tactics they employed and considerations they used for their decisions.

No, It’s Not Enough to Just Use GL Codes to Classify Your Spend Data—Here’s Why

Posted: 11/25/2020 - 02:46
Author: Susan Walsh
Finance departments use GL codes to track spend.

Finance departments use GL codes to track spend. We’re looking at items like office supplies, marketing or maybe a specific project within the business. However, what finance are looking for and what procurement are looking for can be two quite different things.

The Trouble With GL Codes

Firstly, if you're only using your general ledger codes, I can almost guarantee they are wrong! In my experience working with GL codes, I would say 90% of them are unreliable. You'll almost always find something classified under a GL that shouldn't be there.

Demonstrating the Value of Marketing Procurement

Posted: 11/25/2020 - 02:17
Author: Sarah Scudder
The COVID-19 pandemic has created challenging conditions for many business enterprises, and it has elevated the importance of maximizing the value produced by every dollar of marketing spend.

Earlier this year, the World Federation of Advertisers (WFA) published an important report on the current state of marketing procurement. The report is part of an ongoing initiative called “Project Spring” that is being led by the WFA Global Sourcing Board. The Project Spring initiative’s goal is to “transform the value proposition of marketing procurement.”

How to Successfully Mine Remote Contact Center Talent

Posted: 11/20/2020 - 00:52
Author: Jeff Christofis
Recruiting and hiring remote staff is only the first step.

When change is difficult it sometimes takes a little nudge to move in the right direction. Like many business environments, the contact center industry wasn’t nudged this year—it was pushed.

With most call center providers still cemented in the brick-and-mortar model, the COVID-19 pandemic accelerated the need for transformation. This is due to the restriction of operations at these businesses as well as employees’ hesitations to work on busy call center floors.

Successful Digital Transformation Requires an Inspection of all Business Processes

Posted: 11/16/2020 - 23:30
Author: Baber Farooq
Procurement organizations are uniquely positioned to drive their companies' innovation agenda because no other function can “serve as the window to the outside world.

At the time of writing this piece, I am just one of five million people emerging from the world’s longest coronavirus-related lockdown, in Melbourne, Australia. For nearly two months, I was only allowed to leave the house once a day for essential items and required to stay within three miles of my home. From takeaway meals to IT support, to doctor’s appointments, most of the goods and services I've needed have been ordered virtually. Since COVID-19 hit, I’m amazed at how quickly the world went virtual.

Getting Back to Work: How Can UK Companies Best Reintegrate Staff?

Posted: 11/12/2020 - 05:34
Author: Will Akerman
Organizations that invest in their returning staff which will benefit from recultivating a happy and high-performing workplace.

Since COVID-19 first arrived in the UK, some 9.6 million workers have experienced the furlough scheme. Despite many continuing to work from home, plenty of organizations are now transitioning back to the workplace. Decision-makers must carefully consider how they can best support staff through this experience.

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