Have others had success with selecting and implementing a Banking Validation Tool or Subscription for vendor onboarding and changes? Not looking for an onboarding capability, solely validating supplier banking details to avoid manual validations.

Peer InsightsThird Party Risk Management (TPRM)
694 viewscircle icon1 Upvotecircle icon2 Comments
Sort by:
Sr. Director of P2P in Software10 months ago

We are currently going through the review of such tools/subscriptions. Not only are we looking to have a service that covers most of the world, we are also looking to deeply embed it into our workflows to automate the approvals for onboarding suppliers and changes in master data including tax id no, addresses, or entity legal names. 
Let me know if you want to connect directly. 

Lightbulb on1
10 months ago

We leverage Apexanalytix. This is a Koch supported contract, and is most heavily used in the US and UK. If you need more information I can connect you to our business partner.  

Lightbulb on1

Content you might like

How is your organization keeping track of the high volume of executive orders being signed by recently elected US President Donald Trump? Are you tracking them at all? If so, what job function is responsible? Or most in-tune with what's happening?

Read More Comments

Does anyone have an RFP template they can share with me for a Systems Integrator (SI)? We are looking to upgrade our S2P system and once the software solution is selected, we will need a good SI partner for installing it into our SAP S4Hanna ERP system.

Is Vendor Management part of Procurement in your organization?  

Yes, it's integrated together52%

No, VMO is separated43%

Other (comment below)4%

View Results

Certificates of Insurance (COI): Collecting from Suppliers for Risk Mitigation • Does your company collect COIs annually from your suppliers? • What criteria do you use to determine from which suppliers to collect COIs annually? Are there industry benchmarks for this?

What are your experiences with the success of digital transformation in your organization or that of your clients? I ask as anecdotally I have found it to be very low, and recently McKinsey and CGI have suggested it's as low as 5% success and only as high as 25% successful. So very curious as to your experiences on average rate of success.

0 - 10%4%

11% - 25%49%

26% - 50%27%

51% - 75%17%

76% - 100%

View Results