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Prioritizing Cost Reduction and Third-Party Risk Management in Financial Services

By April 11, 2023May 29th, 2024No Comments

Reducing costs is easy… unless you are concerned about risk – and who ISN’T concerned about risk these days?

One of the challenges associated with managing risk is that it takes so many forms. Regulations have made it very clear what type of third-party risk management banks and financial institutions must provide, but making significant progress that isn’t resource intensive remains a challenge. 

On April 11th, Art of Procurement hosted a financial services Industry Deep Dive to explore the tension between cost reduction and risk management. We were joined by Andrew Thomas, a Solutions Consultant at Ivalua, and Alanna Eltsin, a Managing Director in Consulting at KPMG, LLP. 

Andrew and Alanna shared what they are hearing from financial services customers who are trying to balance the competing priorities of cost and risk, and how they are leveraging technology to accelerate their progress.

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