How to Manage Risk in the Supplier Onboarding Process With Best Practices for Your Supplier Management Lifecycle

Instructor: Chris Doxey
Product ID: 706038
  • Duration: 90 Min
Attend this webinar to learn the best practices for supplier management that will facilitate compliance through the supplier management lifecycle and can help you to manage risk. Also attendees will learn the technology solutions focus on solving supplier management problems, supplier master fraud indicators and compliance requirements for supplier master.
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Why Should You Attend:

Many Fortune 500 companies have recognized that suppliers aren't just important to the procurement department; and that they are often a key component of an entire organization's ability to generate value. And the ability to generate value is compromised when information about supplier performance is locked away in disparate systems or in employee's heads. The supplier management lifecycle focuses on ensuring that the value a supplier brings to an organization is not compromised. Additionally, the lifecycle promotes standards, consistency, and continuous monitoring throughout the process.

The supplier management lifecycle identifies key leverage points for accounts payable and procurement to team together throughout the supplier management process. The accounts payable and procurement teams have an incredible opportunity to share information, work more efficiently with the organization's suppliers, and establish a system to support smooth procurement, delivery, and payment processes. We’ll also provide ten best practices that summarize how the lifecycle can be embedded into the procure to pay (P2P) process to ensure good onboarding and supplier master controls.

Areas Covered in the Webinar:

  • Understand the components and corporate impact of the P2P process.
  • Learn how the “top at the top” sets the direction of Supplier Management.
  • Learn about the challenges and best practices for the supplier onboarding process.
  • Learn about the Top Ten Best Practices for Supplier Management that will facilitate compliance through the Supplier Management Lifecycle and how they can help to manage risk.
  • Discuss how non-compliance can put your company at significant risk.
  • See how a Supplier Management Roadmap can immediately help your company establish a compliance process throughout the lifecycle.
  • Understand how technology solutions focus on solving supplier management problems.
  • Learn about Supplier Master Fraud Indicators.
  • Understand Compliance Requirements for your Supplier Master.
  • Case Study
  • Q&A

Who Will Benefit:

  • Financial Executives
  • Controllers
  • Shared Service Center Executives
  • Risk Officers
  • Internal Auditors
Instructor Profile:
Chris Doxey

Chris Doxey
Owner and President, ChrisDoxey, Inc.

Chris has been the owner and president of Doxey, Inc. since 2012. She provides management consulting services to clients such as NACHA, Oracle and Mastercard. She advises her clients on how to implement leading edge best practices and automation in the areas of internal controls, risk management and metrics for financial operations. She specializes in the procure to pay (P2P), order to cash (O2C) and record to report (R2R) processes.

Chris held senior finance and controller positions at Digital Equipment Corporation, Compaq, and Hewlett Packard and MCI which allowed her to develop and implement standards of internal control and leading practices for all aspects of financial operations. She was recruited to lead WorldCom (MCI) in the implementation of SOX 404, internal controls, and corporate governance policies and procedures.

Chris also held senior management positions at accounts payable recovery firms which included APEX and Business Strategy, Inc. (BSI). As a consultant, she worked with PRGX to implement a self-audit tool for the accounts payable payment process.

She holds a bachelor's degree in English, a bachelor's in accounting, a master's in business administration, and has a graduate certificate in project management. She is a Certified Accounts Payable Professional (CAPP) and holds a Certification in Controls Self-Assessment (CCSA). Chris is also a Certified Internal Controls Auditor (CICA), and a Certified Professional Controller (CPC).

Chris is a member of the Institute of Internal Auditors (IIA), the Institute for Internal Controls (The IIC), and the Institute of Management Accountants (IMA). She is also a member of the advisory board for The IIC and The Exchange Summit.

Chris a sought after speaker at global conferences and presents several webinars each year. As a published author, she writes numerous blogs and whitepapers. Her books, “The Internal Controls Toolkit” and “The Fast Close Toolkit” will be published by Wiley later in 2019.

Topic Background:

Even with the intense attention to supplier management internal controls due to the impact of the Sarbanes Oxley Act of 2002 and other regulatory compliance requirements, there are still situations in which contracts are established and invoices are paid to fictitious suppliers or suppliers on government watch lists.

How can a contract be established with a new supplier without any due diligence or validation? How is it possible that “legitimate” suppliers have a private mailbox at the local UPS Store, a private residence, or even a prison address? Or that invoices a few weeks apart with consecutive numbers both get paid? Or “invoices from a “supplier” whose address happens to match that of a company employee get paid?

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

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