Extended Enterprise Risk Management
Maximise revenue, mitigate risks, & strengthen relationships
In a globalised business environment, no company is an island. The ecosystem of a typical company comprises an exceedingly large number of entities with which the company does business, including customers, partners, agents, affiliates, vendors and service providers. Taken together, these third parties constitute what we have termed “the extended enterprise.”
Extended enterprise risk management (EERM) is the practice of anticipating and managing exposures associated with third parties across the organisation’s full range of operations as well as optimising the value delivered by the third-party ecosystem.
Business Partner Assurance
We can assist you in obtaining assurance over your third party partners’ compliance with agreed contractual terms. On the revenue side, this involves providing you comfort that you are receiving the revenues (e.g. royalties, licensee fees, revenue/profit share) you are entitled to and that your third party partners are complying with brand/marketing obligations. On the supply side, this involves assessing that third party suppliers have charged you accurately for services provided as well as meeting service / product quality requirements. Our breadth of experience covers all industries and all types of third party relationships from outsourced providers to advertising agencies to licensees to materials suppliers. We can also support you in assessing your adherence to contractual terms with your customers and licensors; and provide recommendations to address any gaps in your current processes and controls.
Supplier Extended Enterprise Risk Management
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Software Asset Management
Software is prevalent in almost all business processes but the licensing and management of these vital assets is rarely completely understood and often poorly managed. The organisation may not know its weaknesses in this space until it is hit with a software vendor audit.
Third Party Risk Management
Our Contract Advisory professionals can assist you in developing a bespoke Third Party Risk Management (TPRM) framework to enable your organisation to identify, mitigate and govern third party risk.
We can support by providing guidance on specific elements of an existing TPRM framework (i.e. process, technology, governance, delivery model) or by providing you with a programme and a team to work with key stakeholders in your organisation to establish a new framework.
Our experienced team can also provide support in the areas of Contract Discovery, Key Contract Clause Extraction, undertaking Contract Risk Assessments and performing assessments of third party management processes.
EERM global survey report 2017
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