A strategic vision for model risk management
McKinsey & Company
MARCH 31, 2021
The expanding scope of models and the increased use of models based on advanced analytics have amplified the strategic importance of model risk management.
Analytics Management Risk Management 
Risk Management Data Strategy – Insights from an Inquisitive Overseer
Perficient Digital Transformation
AUGUST 19, 2024
We are witnessing a sea-change in the way data is managed by banks and financial institutions all over the world. Though this seems to be at a stage where some more push is required in terms of adoption in the risk management function. Data being commoditized and, in some cases, even monetized by banks is the order of the day.
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The synergy between UEM and medical device risk management
IBM Services
OCTOBER 9, 2023
Unified endpoint management (UEM) and medical device risk management concepts go side-by-side to create a robust cybersecurity posture that streamlines device management and ensures the safety and reliability of medical devices used by doctors and nurses at their everyday jobs.
Booting out bias: How to derisk advanced analytics models in the public sector
McKinsey & Company
JULY 8, 2021
Advanced analytics can transform public-sector services, but US agencies are wary of the risk of biased outcomes. Sound risk management is the key to a wider adoption that will benefit all citizens.
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Data and analytics innovations to address emerging challenges in credit portfolio management
McKinsey & Company
DECEMBER 23, 2022
Results from a new survey by McKinsey and IACPM reveal challenges and opportunities in new data techniques for credit portfolio management.
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The Future of Data Analytics
The Hackett Group
DECEMBER 10, 2021
Industrialized Data & Analytics. Some have even spun off data and analytics as a business services function, headed by a chief data officer. They are also making major investments in developing and hiring staff with data science and analytics skills to extract and apply all potential value. Reap the Rewards.
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Using analytics to address inflation risks and strengthen competitive positioning
McKinsey & Company
AUGUST 18, 2022
In the new inflationary environment, company leaders can protect their business and gain competitive advantage by deploying analytics-aided strategies.
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Mitigating Supplier Risks: The Power of Advanced Tools and Technologies | Webinar
Everest Group
AUGUST 13, 2024
IST Managing supplier risk has become more critical than ever. The increasing complexity of global supply chains and the need for greater transparency and compliance have now made it essential for organizations to adopt advanced supplier risk management tools to mitigate threats. PT | 10 a.m. CDT | 11 a.m. EDT | 4 p.m.
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AI-Enabled Contract Life-Cycle Management Software Drives Significant Performance Improvements Over Traditional Methods
The Hackett Group
SEPTEMBER 10, 2024
Optimizing and aligning CLM with processes like sourcing and risk management is critical to the successful operation of businesses of all sizes. Selecting the right CLM partner can unlock substantial benefits – from reduced cycle times to improved risk management – ultimately strengthening their competitive position.”
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Contracts Hold the Key to Proactive Risk Management
SirionLabs
AUGUST 22, 2022
But are organizations truly well positioned to preempt and mitigate potential contracts risks before they negatively impact the bottom line? The Disconnect Between Contracting and Risk Management Surprisingly, knowledge of contract risk is limited among enterprises. In its present state, contracting is largely manual.
Contracts Hold the Key to Proactive Risk Management
SirionLabs
AUGUST 22, 2022
But are organizations truly well positioned to preempt and mitigate potential contracts risks before they negatively impact the bottom line? The Disconnect Between Contracting and Risk Management. Surprisingly, knowledge of contract risk is limited among enterprises. Rooting Risk Management in Smarter Contract Management.
What Services Are In Managed Services?
31 West
SEPTEMBER 14, 2022
Tasks handled by a third party are referred to as “managed IT services,” typically in the context of business information technology services. A managed service provider (MSP) is a business that offers the above-mentioned services. A managed service provider (MSP) is a business that offers the above-mentioned services.
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What is Third Park Risk Management? Definition
Obobo
DECEMBER 13, 2022
What is Third Park Risk Management? First, let’s start with understanding what risk management is. Risk management is the process of identifying, assessing, and controlling risks. By identifying risks early on, you can take steps to avoid them or mitigate their impact. Definition.
Hire a Dedicated Software Development Team for Accelerated Success
Groove Technology
FEBRUARY 4, 2025
Minimized Recruitment and Training Expenses: By outsourcing, businesses can avoid the costs associated with recruiting, training, and managing full-time employees. Reduce the Administrative Burden on Your Company Leveraging a dedicated software development team alleviates the administrative tasks associated with project management.
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Borderless Outsourcing: Accelerating Digital Transformation
Premier BPO
AUGUST 2, 2024
Borderless Outsourcing Helping Access Global Talent Pool It is challenging to onboard specialized resources for digital transformation projects in artificial intelligence, machine learning, data analytics, and cybersecurity. All this paves the way for businesses to stay ahead of the competition in their digital transformation efforts.
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The Role of Insurance Intermediaries in the Digital Age: Challenges, Opportunities, and the Future | Blog
Everest Group
MAY 24, 2023
Insurance intermediaries have an exciting future ahead if they can successfully adopt Artificial Intelligence (AI), mobile apps, big data, and analytics to better understand their customers and provide personalized products. Insurance plans must be customized to address clients’ unique needs and risk profiles. Read on to learn more.
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Navigating the New Landscape: How DORA Regulations Will Reshape the Future of Financial Services | Blog
Everest Group
FEBRUARY 22, 2024
This includes banks and credit institutions, investment firms, trading platforms, and providers delivering critical services like cloud computing, data centers, credit ratings, and data analytics. DORA framework DORA establishes a comprehensive framework for managing digital operational resilience across the financial sector.
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Clashing Priorities: Vendor Diversification vs Efficiency and Vendor Risk Management
Sourcing Advisors Group
OCTOBER 27, 2020
There is a brewing conflict in the world of Procurement – firms are aggressively pursuing Vendor Diversification while the same time, they are unable to manage most of their incumbent vendors, according to a recent Deloitte survey. Second : create spend and supplier transparency based on insights achieved from robust Spend Analytics.
IT Service Management (ITSM) in Education: Enhancing IT Support For Students And Faculty
31 West
NOVEMBER 25, 2023
In the rapidly evolving digital landscape of the 21st century, Information Technology Service Management (ITSM) has emerged as a critical component in various sectors, especially in education. This blog post delves into the significance of ITSM in enhancing IT support for students and faculty in educational institutions.
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How to build a risk management strategy
Microsourcing
AUGUST 15, 2022
With one eye on the direction of the global economy, the survey drilled down for insights into a few of the hottest talking points in boardrooms including growth, artificial intelligence, data and analytics.
What is Third Party Risk Management? Definition
Obobo
DECEMBER 13, 2022
What is Third Party Risk Management? First, let’s start with understanding what risk management is. Risk management is the process of identifying, assessing, and controlling risks. Now that we have a general understanding of risk management, let’s talk about third party risk management (TPRM).
Outsourcing Product Recall Management – Transforming Challenges into Growth Opportunities
Premier BPO
NOVEMBER 22, 2024
However, with the right approach and strategy for product recall management, companies can address challenges and turn them into growth opportunities. Outsourcing recall management could be a smart, strategic move for modern businesses, as they can gain access to experts equipped with advanced systems and compliance knowledge.
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Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment 2023
Everest Group
OCTOBER 19, 2023
At the same time, there is a growing focus on non-traditional F&A areas, including risk management, compliance, sustainability, and data & analytics. This change underlines how corporations are realizing the strategic value of F&A.
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Transforming Retail with POS, WMS, and BOS Test Automation
Amzur
DECEMBER 27, 2024
Key systems like Point of Sale (POS), Warehouse Management Systems (WMS), and Back Office Systems (BOS) are crucial for ensuring smooth transactions and maintaining business continuity. Prioritize Integration Testing Your POS system doesnt operate in isolationit interacts with Warehouse Management Systems (WMS) and Back Office Systems (BOS).
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Streamlining supply chain management: Strategies for the future
IBM Services
FEBRUARY 19, 2024
In today’s complex global business environment, effective supply chain management (SCM) is crucial for maintaining a competitive advantage. Here’s how companies are using different strategies to address supply chain management and meet their business goals.
Transformation Imperatives for Wholesalers and MGAs in Insurance: Exploring Opportunities to Unlock the Next Growth Phase | Blog
Everest Group
MARCH 17, 2023
Managing General Agents (MGAs) and wholesalers are becoming increasingly relevant in the insurance ecosystem due to the unique advantages they have over brokers/agents. MGAs also are qualified to underwrite and bind coverage as well as perform customer support services, including policy issuance and claims management.
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Insurance Technology Market Trends: Reflecting on the Recent Guidewire Kufri Release | Blog
Everest Group
AUGUST 9, 2024
Emphasizing streamlined processes, advanced data analytics, and expanded global solutions, Kufri is set to enhance the competitive edge of insurers worldwide. This release emphasizes process efficiency, accelerated time to market, and enhanced data analytics capabilities, all while expanding Guidewire’s reach beyond North America.
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Navigating the Evolving Private Equity Landscape: Driving Value from Technology and Collaborative Ecosystems | Blog
Everest Group
AUGUST 14, 2024
Consequently, there has been a decrease in deal activities and a shift in focus toward tightening the bottom line and managing risks. Data analytics, artificial intelligence (AI), and machine learning are enhancing deal sourcing, portfolio management, and risk assessment.
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Procurement Outsourcing (PO) – Service Provider Landscape with Services PEAK Matrix® Assessment 2022
Everest Group
SEPTEMBER 14, 2022
Providers are helping companies transform their procurement operations and drive the adoption of advanced digital technologies, such as advanced analytics and intelligent automation, by leveraging in-house capabilities, partnership ecosystems, and targeted investments. Managing Risk in Services Sourcing. Learn More. Learn More.
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Practice Director – BPS Pricing
Everest Group
SEPTEMBER 18, 2024
Job overview This role is part of the Commercial and Solution Analytics (CSA) practice, which assists buyers and service providers make informed decisions with regard to costs, pricing or solutioning of outsourcing / professional services arrangements. tax managed services, third party risk management etc. –
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How Secure Is The Data In Microsoft 365?
31 West
JUNE 5, 2023
It’s a cloud-based service that covers Word, PowerPoint, Excel, and other applications that boost your productivity and allow businesses to run routine management operations flawlessly. Identity and Access Management A primary concern of every business is giving secure access to the company’s confidential resources.
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ISO 20022: Are your payment systems ready?
IBM Services
APRIL 18, 2023
ISO 20022 drives improved analytics and new revenue opportunities ISO 20022 enables more sophisticated payment analytics by providing a richer data set for analysis. Improved Analytics: financial institutions can access more detailed information about each transaction, enabling more sophisticated payment analytics.
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Why organizations need to adopt an Integrated Third-Party Governance and Risk Management approach?
SIG Speaks
APRIL 4, 2023
SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Jai Chinnakonda shares why every organization should adopt integrated third-party risk governance and management into their team structure. These new-age partnerships require a different approach to managing third-party risks.
Unleashing the Power of Generative AI in Procurement | Blog
Everest Group
AUGUST 25, 2023
Our survey of procurement professionals found the technology holds great potential to transform spend analytics and cost optimization while increasing efficiency and saving time. The survey revealed that the majority of respondents believe that GAI will have the greatest impact on spend analytics and cost optimization.
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Agentic Artificial Intelligence (AI): The Next Growth Frontier – Can It Drive Business Success for Banking & Financial Services (BFS) Enterprises? | Blog
Everest Group
OCTOBER 4, 2024
In the fast-moving world of trading and investment , agentic AI has the potential to transform portfolio management. Beyond trading, agentic AI could enhance risk management by autonomously identifying potential market disruptions or regulatory changes and adjusting exposure accordingly.
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Databricks vs Snowflake: A Rivalry to Last or Lunch for Cloud Vendors? | Blog
Everest Group
NOVEMBER 18, 2021
In the latest tech industry rivalry, the competition between Databricks and Snowflake in the cloud data and analytics space is getting a lot of attention. It can broadly be considered a data and analytics platform that helps enterprises extract value from their data. The management of both companies has a strong respect for each other.
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The Battle Unfolds: MGAs as the Next Frontier for InsurTechs, Services, and Technology Providers
Everest Group
NOVEMBER 28, 2023
The Managing General Agent (MGA) sector is a bright spot in a turbulent insurance market. Technology investments and strategic partnerships will be key to redefining risk and driving innovation for these specialized insurance agents/brokers.
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What Are The Various Modules In ServiceNow?
31 West
DECEMBER 1, 2022
Managing your human resources, IT help desk, finances, and other management operations using the traditional workflow processes is tricky. Thankfully, the transition to a digital workflow has become a lot easier with cloud-based IT management platforms like ServiceNow. ServiceNow Change Management Module.
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Driving Sustainable Change: A Look into the Insurance Industry’s Commitment to Sustainability | Blog
Everest Group
JULY 7, 2023
By integrating ESG considerations into their risk management, product design, internal operations, long-term strategies, and workforce management, many insurance firms have already started their journey toward becoming purpose-driven organizations and have begun to integrate sustainability with their core businesses.
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SVB Aftermath: How Will the Bank Failures Impact the Technology Services Industry? | Blog
Everest Group
MARCH 16, 2023
The recent collapse of the banks will have repercussions across the financial services system and may trigger the following aftermaths: Opportunities for large banks to capture business from banks with similar concentration sector risks of sectors that are seeing slowdowns (e.g.,
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AI Tools List For CIOs and CTOs In 2024
Amzur
SEPTEMBER 10, 2024
It’s crucial to understand how and where to implement AI tools across the organization to drive productivity and success while managing costs effectively. Natural language processing, predictive analytics, data integration. Cloud Optimization and Management CloudHealth by VMware. Data-Driven Decision Making IBM Watson.
AI Regulations for Financial Services: OCC
Perficient Digital Transformation
OCTOBER 24, 2024
OCC In December 2023, the Office of the Comptroller of the Currency (OCC) classified AI as an emerging risk to the banking industry in an industry report they produced. The supervision risk management principles, outlined in the OCC issuances, provide a solid framework for banks implementing AI to operate safely, soundly, and fairly.
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Unlocking Financial Excellence: The Comprehensive Guide to SaaS CFOs
inDinero
SEPTEMBER 26, 2023
The Evolution of the CFO Role in SaaS Historically, CFOs were primarily responsible for financial reporting and risk management. Key Responsibilities of a SaaS CFO A SaaS CFO provides strategic guidance, financial oversight, and management and ensures the company’s long-term success.
Finance 98
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The Capital One Merger with Discover Potentially Signals a Shift in the US Banking Landscape | Blog
Everest Group
FEBRUARY 26, 2024
By joining forces, these banks will be better positioned to develop new competencies in data management, AI/ML, open application programming interfaces (APIs), and advanced analytics, aligning with the growing digitalization of banking services. We are closely watching the market and regulatory actions.
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