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compliance checkpoints across the vendor management process
Social Sustainability
Vendor Management
Compliance Management
Real Estate
Automating Vendor Compliances
Vendor Management process can not only be expensive (both in terms of resources and cost) but also expose the entire organization to unprecedented levels of risks, if left unchecked. According to a study by The Hackett Group, “It costs roughly $700-$1,400 in internal costs (i.e., labor, outsourcing, technology and related overhead) to source each supplier, set it up in internal systems, transact with it and manage the relationship on an ongoing basis. Even beyond money, dealing with paperwork manually, fixing errors and discrepancies, and communicating with suppliers over inquiries costs companies about 6500 hours a year.” Each supplier added to the supply chain can result in numerous compliance risks. Are they utilizing corrupt practices somewhere down the line like forced labor, poor work conditions, or even human trafficking? Without an efficient process in place alongside the skill and man-hours to verify each of your suppliers compliance standards as well as consistent checks to ensure their standards are regularly updated and maintained, businesses run the risk of severe ethical and reputational harm to the business.
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Capital Markets
Real Estate
ESG
Sustainability
ESG Data Lifecycle Automation
ESG has quickly grown out of investment philosophies into a broader set of core strategic positioning for businesses. In this shift from meaningful change to measurable value, the biggest challenge was to extract Environmental data assets (Carbon Emissions specifically) from a variety of documents. SageX provided a quicker path to automation and a shorter time to the consolidated data, empowering businesses to align their actions with their core objectives.