5 Top Tips: How to Increase Procurement Agility in Financial Services

Procurement
by Arnaud Malarde

5 Top Tips: How to Increase Procurement Agility in Financial Services

Financial Service Institutions (FSIs) face an increasingly volatile business climate as lending profits dwindle and digital competition rises. As well-established institutions feel the ever-increasing weight of regulation on their operations, newer banks entering the marketplace are not experiencing the same constraints.

As FSI’s accelerate the adoption of technology to better serve their clients, they must improve their business agility to successfully enforce strict compliance standards. Procurement plays a key organizational role by ensuring compliance with Third Party Risk Management (TPRM) requirements, optimizing spend value, and leveraging a network of innovative suppliers. Further, to keep up with the pace of their growing business needs, procurement teams need to adopt and implement a digitized and agile FSI business model. 

How can you stay agile and responsive as you navigate new sourcing and payment strategies while mitigating risk and supporting your financial institution’s long-term goals?

Click on the “5 Top Tips” image below to find out how your Source-to-Pay processes measure up and where you can improve your responsiveness and procurement agility!

 

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Author

Arnaud Malarde

Senior Product Marketing Manager

Arnaud has over 10 years’ experience in procurement across both sourcing and procure-to-pay. His experience comes from working with major international technology and media groups, where he was responsible for overseeing solution deployments as well as ensuring business value is achieved through technologies. Arnaud has a Masters in Finance from ESCP Europe – a top Business School in France and a European MSc in Management from London City University.

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