Risk Management

The Future of Plain Old Telephone Service: Hang Up or Pay Up

Posted: 11/30/2018 - 04:02
Author: Alakh Krishnani
Plain old telephone service, also known as POTS, is old-fashioned copper wires connected to a standard telephone that provides the power and connectivity to the telephone service provider’s central switching system. Replacing POTS with new technology has become equivalent to replacing a typewriter with a laptop. New technologies in the market like VoIP and wireless can now offer telephone services at a much lower cost than POTS.  
 

Time to Worry about your Software Supply Chain?

Posted: 10/09/2018 - 00:07
Author: Brandon Curry
Software has become crucial to every industry. Yet ensuring the software system you are buying or licensing is authentic and free from defect or malware is a challenge. The QA procedure in old-school manufacturing is to test a random set of newly delivered widgets for their compliance with approved specifications. But you can’t really take the same simple approach with software. 
 

Quinn and Hilmer: The Approach to Strategic Outsourcing

Posted: 08/03/2018 - 04:25
Author: Kate Vitasek
There’s outsourcing and then there’s strategic outsourcing. The distinction between the two seems obvious today but professors James Brian Quinn and Frederick G. Hilmer did groundbreaking work that identified and evaluated the core competencies that go into strategic outsourcing decisions in the early 1990s. Their findings are still practical today almost 20 years later. 
 

Right-Sizing Your Third-Party Risk Management Program

Posted: 06/27/2018 - 01:43
Author: Linda Tuck Chapman

Third-party risk management is worth doing well—not only to protect your institution’s reputation, resources, and customers, but also because third-party risk management is part of safety and soundness exams. The effectiveness of a third-party risk management program is seen as an indicator of overall management capabilities. The design of third-party risk programs varies across institutions. 

There can be differences in:

Blockchain...The Answer to the Financial Service Industry's Prayers?

Posted: 05/15/2018 - 04:14
Author: Andrew Frost

Since the financial crisis of 2008, the financial services industry has been inundated with new rules and regulations that have consumed resources and increased spend on compliance. All of this is occurring at a time when the industry has also been under increasing competition from financial technology (fintech) firms. Whilst the fintech industry is booming by providing new innovative products at a rapid pace, traditional incumbents have appeared less agile at adopting these.

The Meaning of Facebook’s Fall-out: Centralized vs. Decentralized Systems

Posted: 04/18/2018 - 04:58
Author: Magnus Lind
Reduce risk and opt for a decentralized system of sourcing

When the Internet arrived, we said, “The world is no longer flat! This changes everything!” Then we went back to building centralized systems – something we still do today. Examples of centralized systems are our ERPs, enterprise payment systems and government platforms. Recent commercial examples include Google, Facebook and Uber. 

Trends in Sourcing and Procurement with Sean Delaney

Posted: 04/11/2018 - 23:10
Author: Sean Delaney

In this episode of the Sourcing Industry Landscape, Dawn Tiura interviews Rob Bernshteyn. Rob Bernshteyn is the Chief Executive Officer of Coupa Software, a cloud platform for business spend management. After moving to the U.S. at a young age, what began as an interest in sports memorabilia turned into a profitable venture during middle school and high school to help fund his college education.

Another Brick in the Wall, Part 1: The Show Must Go On

Posted: 03/02/2018 - 01:27
Author: Mathew Daniel

Alignment to business needs during the Request for Proposal (RFP) phase of any sourcing event is critical, but perhaps more so when it comes to capital building projects given some of the changes procurement professionals face within their stakeholder community. In most companies, the plant facility's engineering teams are composed of lifelong veterans within the industry who have executed numerous projects – some successful and others, well, not so much. This inconsistency of results tends to make these individuals rather risk adverse and fixed in a traditional way of thinking.

IT Managed Services: Mitigating Risk and Maintaining Leverage

Posted: 12/15/2017 - 23:19
Author: Torey Guingrich

The managed services market has been an interesting one to watch from a consultant’s point of view. There was a heavy trend towards outsourcing many key areas within IT, only for the pendulum to begin swinging to the other end of the spectrum where clients are now pulling some (or all) of those same services back in-house. Nevertheless, your organization is likely to use some level of managed services within the IT organization given constraints on budget, resources or expertise.

Avery W. Katz: Dealing with the Incomplete Contract

Posted: 11/04/2017 - 03:14
Author: Kate Vitasek

Avery W. Katz, professor of law at Columbia Law School, tackles the conundrum of “incomplete” contracts. The challenge? How organizations can fashion a contract that is both economically flexible enough for a business relationship to move forward efficiently and legally secure enough to satisfy the parties’ legal departments.

Intelligent Automation Inspires New Plans For Onshoring

Posted: 11/04/2017 - 03:01
Author: Chris Niccolls

Offshoring and outsourcing don’t exist in a vacuum. These are processes that take advantage of and are influenced by technology, politics and the larger economy. Look at the last big round of offshoring at the start of the century. It didn’t just “happen” without any reason. Very specific changes facilitated this age of outsourcing.

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