Complete and comprehensive Supplier Information Management (SIM) hinges on 4 major elements: Data, Controls, Functions and Analytics. These four elements define a complete and world-class Supplier Information Management solution that is absolutely crucial in the pursuit of transactional and operational excellence throughout your organization.
Blog Series: Lavante Guide to Optimizing Supplier Statement Auditing This is the second in a four part blog series by Lavante's Josh Morrison. In this series Josh lends his insights from over twenty years of experience as a Procure-to-Pay expert. Blog#2 –Processes & Controls Surrounding Supplier Data Accounts Payable Recovery Audit has been around for [...]
How to Manage Risk in Your Procure to Pay (P2P) Operation through Continuous Controls Monitoring (CCM) and Continuous Transaction Monitoring (CTM)
In my last blog, we discussed the challenges in managing risk in the supplier management process within the procure to pay (P2P) process. If we dive deeper into the day-to-day P2P transactional operations we find that that is virtually impossible to manually screen each supplier or invoice for fraudulent trends and anomalies, especially in “real [...]