Darren Shipp


VP of Operations & Development
SpendHQ

Check out the incredible speaker line-up to see who will be joining Darren.

Download The Latest Agenda

Day 2: Tuesday, September 29, 2015

Tuesday, May 9th, 2017


11:00 Session 2: The Intersection of Big Data and Risk Management

In a world where spend data and visibility is a basic requirement for even average procurement performance, why is data clarity so difficult to achieve for most organizations? After spending millions of dollars on technology from ERP systems to P2P platforms, why do many procurement organizations continue to struggle with both the analysis & optimization of spend data, as well as the incorporation of an IT Risk Management Approach?

Procurement can be more involved in how standards are set for the data that is specific to their needs. Procurement can also get involved earlier to help ensure that contractual terms, service levels, and requirements for suppliers meet the security needs of the company while also ensuring that costs are considered. But what exactly should procurement be looking for?

Discuss with your peers:
• What does a typical procurement-related spend analytics process look like?
• What standards are typical for procurement-specific data intelligence?
• What risks can stem from gathering too much or not enough data?
• What are some of the strategic-related risks in addition to security risks?
• What are the risks associated with spend analytics and spend data for procurement as compared to other data?
• How can you engage and partner with IT to understand how procurement data needs might differ from other IT-related data concerns?
• How can procurement help to mitigate supplier-related data breaches?