Maximize revenue, mitigate risks, and strengthen relationships
Extended Enterprise helps organizations evaluate and manage the risks associated with third parties (outsourcers, licensees, alliances, suppliers), maximizing the performance of the extended enterprise and achieving strategic business objectives; optimizing IT costs and limiting operational, financial, and legal risk related to the ownership and use of software, through point-in-time solutions and ongoing managed service solutions.
- Extended Enterprise Compliance and Recovery - We work with organizations to identify and manage risks resulting from extended business relationships to enhance value, drive cost savings, manage corporate reputation and audit/legal exposure, and manage compliance—both their own and on the part of the business partner.
- Third-Party Advisory (TPA) - We help organizations maximize value and minimize the risks associated with third-party relationships. Services include the development and implementation of third-party risk management (TPRM) frameworks, and the assessment and management of third-party contracts. Additionally, we provide analytics to enhance third-party risk management, including third-party governance and risk management (TPGRM), contract management and compliance, software asset management, and automotive dealership services.
Risk comes in many forms, but from a business critical standpoint, supply integrity is at risk when expectation of behaviours in the supply chain are not well understood and proactively aligned. Managing risk is critical to the success of the entire organization, and it creeps in where you least expect it.
Approaches to managing third parties have generally failed to keep pace with rapidly expanding third-party networks and their role in organizational success. Meanwhile, most organizations have increased their dependence on third parties, which now include not only suppliers of goods and services but also affiliates and joint venture partners, R&D organizations, and sales channels, among others. As an organization's third-party network grows in terms of size, spend, and strategic importance, the business case for integrating TPM becomes stronger.
Our latest research shows a greater level of awareness and focus on ESG in the extended enterprise, as organizations focus on more sustainable and resilient supply chains. Organizations need formal mechanisms to prioritize third-party ESG risks business responsibility and social purpose is a key element of integrated business strategies, this is demonstrated by significant growth in the level of awareness and focus on ESG in the extended enterprise. However, many organizations don’t have the formal mechanisms to assess or prioritize ESG risks in their extended enterprise, and don’t trust internal/external data available to them.
Cost and revenue recovery can be a strategic linchpin during the COVID-19 crisis. A robust cost and revenue recovery strategy not only helps achieve significant cost and savings benefits, but also enhances an organization’s ability to realize—and fund—extended enterprise goals.
This third annual survey report looks at how global organizations are putting a renewed focus on enhancing EERM amid increasing dependence on third-parties. It also highlights six key areas where most organizations need improvement.