SAP Ariba is expanding the vetting capabilities in SAP Ariba Spot Buy to include additional risk assessments for suppliers delivered by Global Risk Management Solutions (GRMS).
The company said that the move makes it not only the largest marketplace for industrial goods, but among “the most trusted, ethical and compliant”.
“Marketplaces create tremendous value in providing easy access to a range of SKUs and a consumer-like experience for making purchases,” says Kurt Albertson, Principal Advisor at The Hackett Group
“But business buying is different from consumer purchasing in that it not only has to be simple, but compliant.”
Robert Ward, Procurement Process and Performance Manager, at NSG Group, one of the world’s largest manufacturers of glass and glazing products, commented: “When it comes to some indirect spend, the role of procurement is changing from negotiating deals to creating a dynamic market place within a compliant environment where users can get what they need. And with SAP Ariba Spot Buy, we can do this.”
In a release, SAP Ariba said: “Pairing SAP Ariba’s business network and cloud-based procurement applications, SAP Ariba Spot Buy combines the convenience of a consumer-like shopping experience with business controls, enabling even the most casual users to quickly find and immediately buy thousands of contracted and non-contracted items in accordance with their company’s procurement policies and procedures.
“And through a three-tier vetting process that is the most stringent in the industry, they can ensure they are purchasing from trusted, ethical suppliers who comply with state, federal, and local regulations and share their corporate and personal values.”
GRMS enhances the vetting capabilities within SAP Ariba Spot Buy by evaluating and continuously monitoring suppliers against more than 1,500 global governmental watch lists and enforcement and sanctions sources. GRMS also offers the following risk assessment modules:
Health and Safety
“Monitoring key supplier performance metrics is tough enough but identifying and monitoring supplier managing risk on an enterprise -wide basis is an entirely different matter and a difficult challenge that frankly, most companies have a hard time even scoping,” said Joe Fabiani, Chief Operating Officer, GRMS.
“The combination of highly configurable software, data and transparent, expert human interventions powers a practical, effective and market-leading approach.”