Manage Risk and Compliance in your Procurement Process

The high cost of not knowing.

Whether you’re part of a higher education institution, a K-12 school system, a nonprofit or a government agency, a sound procurement process is key to protecting and enhancing your organization.

Sourcing, procurement and contract management are part of the day-to-day operation of any organization. All, however, carry risk. Off-contract purchasing; new, unfamiliar vendors; non-compliant vendors; Title IV fraud audits; financial reporting requirement changes; new state and federal financial guidelines— the list goes on and on.

The bottom line? Lack of control and visibility into your sourcing, purchasing, and contract management activities can come at a high cost. Because of the many pitfalls, risk management and compliance considerations should be an integral part of your procurement process.

Risk management and compliance considerations should be an integral part of your procurement process