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Vendor Risk Monitoring


MONITORING  OF DATA CHANGES TO IDENTIFY RISKS PROACTIVELY

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Vendor Risk Monitoring


MONITORING  OF DATA CHANGES TO IDENTIFY RISKS PROACTIVELY

Key Fact

Localisation (e.g. BBBEE) regulation drives spend with less established smaller vendors in Africa.

 
Vendor Risk Distribution Africa
 

Result:  Higher Risk & Management Complexity


Benefits of Vendor Risk Monitoring

  • Keep an eye on your vendor’s BBBEE status
  • Avoid admin caused by incorrect contact or bank details
  • Identify disruption risks due to business status changes or judgments immediately
  • Prevent fraudsters from exploiting gaps in the vetting process

Features of our Vendor Risk Monitoring Service

  • Automated email alerts on changes in risk indicators such as new judgments, business status changes or director changes
  • Customizable alert periods (daily, weekly, monthly)
  • Periodic updates of researched information (e.g. BBBEE, contact details) in a customizable spreadsheet
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Case Study


 

Learn how we helped a multinational save 100k on BBBEE audits and avoid vendor risks in “real time”

 

Case Study


 

Learn how we helped a multinational save 100k on BBBEE audits and avoid vendor risks in “real time”

 

Problem

  • The client, a large FMCG company had to maintain the vendor data on a SAP system with limited internal resources
  • In addition the client wanted to maintain a “real time” picture regarding BBBEE, contact details and risk indicators

 

 

Action

  • Inoxico was tasked to provide change updates on a monthly basis in a SAP friendly format on roughly a 1000 vendors:
  • Contact Details
  • BBBEE data and certificates
  • Bank Account Details
  • Judgments, Director, Business Status Changes as well as various other risk indicators

Result

  • Close to 30 vendors were disqualified or placed in a development program based on risk indicators provided by Inoxico
  • Client was able to maintain a light footprint in-house team whilst managing complex scorecard audits and maintaining compliance with global rules