Outsourcing Management
Financial services organizations can outsource processes and systems, but maintain full responsibility for the risks resulting from their operations. As a result, these organizations must proactively enforce compliance with the banking regulations throughout their entire chain of suppliers in outsourcing scenarios.
What added value does Outsourcing Management provide?
An established outsourcing risk management process helps companies achieve the objectives that drive success.
Achieve standardization
Implement a standardized approach to evaluate and categorize all suppliers/contractors.
Define critical outsourcing
Identify outsourcing that is critical for the organization.
Implement risk management
What should be considered in Outsourcing Management?
As part of the implementation, relevant challenges should be considered at an early stage in order to ensure success.
Challenges
- Gaining insight on the risks stemming from many different outsourcing processes and establishing adequate reporting processes.
- Getting an overview of the various outsourcing processes.
- Ensuring that all outsourced processes are assessed appropriately and monitored continually.
- Establishing outsourcing management as a business enabler rather than a necessary burden.
What are the advantages of an Outsourcing software solution?
Our Outsourcing Management software risk2value enables the development of a future-proof, efficient management system.
- Work effectively with internal and external process contributors in a structured, workflow-driven approach.
- Identify and classify outsourcing risks in a standardized approach to enforce consistent quality throughout the process.
- Use the vast capabilities to customize the type and design of outsourcing risk reports.
- Boost overall efficiency by integrating all kinds of inquiries and questionnaires from suppliers or third parties in one combined assessment process.
- Integrate the results of outsourcing management completely in risk reporting.
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Which risk2value solution is right for me?
Whether individual or out-of-the-box solution – at avedos you will find the right software.
risk2value standard solutions
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The international financial services company LGT has been using risk2value for several years. Read the review here.
Implementing a risk event database at LGT
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Romana Hanig
SALES & ACCOUNT MANAGER
