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Successful Sourcing: How to Reduce Cost, Create Value and Reduce Risk

SUCCESSFUL SOURCING: HOW TO REDUCE COST, CREATE VALUE AND REDUCE RISK

Cost Free
Presentation Length 1.0 hour

Recorded DateAugust 20, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelBasic
Course Description

In recent polls, executive management, procurement managers, boards and audit committees have consistently listed the management of third-party vendors as a top risk and concern. With the occurrence of the COVID-19 pandemic, management of third-party vendors has become even more critical to meeting the organization’s strategic objectives. But many organizations continue to struggle in this area.
 
Managing the lifecycle of vendor relationships can generate cost savings and unlock value, but it also has inherent risk and can be a source of fraud. In this session, you will learn how to establish guidelines for procurement and vendor deliverables that set up your organization for successful sourcing. ​

Learning Objectives:


  • Identify sourcing best practices and how sourcing fits in the procure-to-pay cycle​

  • Understand common internal policies and processes for third-party vendor management​

  • Gain knowledge about contract management best practices, including key contract terms​

  • Learn the top 5 ways to add value and reduce risk in the source-to-pay process

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Brownsmithwallace

Amy Julian is a Director in the Advisory Services practice of Brown Smith Wallace where she helps businesses create and implement their strategy for business process transformation with a specialization in sourcing, procurement and working capital.

Amy’s approach brings together insights on data, tools, people and processes to recommend changes and lead transformative projects. She uses her hands-on project management experience to deliver results that clearly tie to the project objectives. She also identifies capability gaps and puts in place actions to close them. Her focus on change management and team engagement has helped ensure long-term sustainable results. Her project portfolio includes M&A related changes, functional re-designs, and business leadership for system integrations.

Amy holds an MBA and is a certified Lean Six Sigma Green Belt.

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Keenan T. McKinney, CIA, CCA

Brown Smith Wallace
Manager, Advisory Services
kmckinney@bswllc.com
(314) 983-1316

Brownsmithwallace

Keenan is a Manager in the Brown Smith Wallace Advisory Services practice, where his primary area of expertise is assessing and testing internal controls systems, evaluating processes, and working with management to develop recommendations for improvement. Keenan has worked with Brown Smith Wallace for over 6 years. 

Keenan has more than 25 years of internal auditing and project management experience. He has more than 10 years of government auditing experience, including serving as internal audit manager for two years; working for accounting/professional services firms for six years; and working for a pipeline rehabilitation company for three years, where he served just over a year as internal audit manager.

Keenan’s work experience includes performance of internal audits, process improvement reviews, construction audits, SOX reviews, and internal audit Quality Assessment Reviews for various clients in multiple industries. He is a Certified Internal Auditor (CIA) and Certified Construction Auditor (CCA).

About Our Presenter

Brownsmithwallace
Brown Smith Wallace – an independent member firm of Moore Stephens North America – is a nationally recognized, top 100, full-service CPA and business advisory firm in Missouri with more than 300 employees. The firm serves its long-term base of family owned, private companies with audit, accounting and tax services as well as a wide variety of business consulting services.

We provide many of the St. Louis area’s largest companies with value-added consulting services such as business performance consulting; business valuations; data analysis; cybersecurity; employee benefit plan audits; independent insurance consulting; internal audit, IT audit and other related risk services; litigation support; transaction advisory services; and specialty tax services such as family wealth planning, state and local taxes (including sales and use tax consulting), credits and incentives, property tax and international tax services.

Brown Smith Wallace serves a wide variety of industries with particular expertise in broker-dealers, captive insurance companies, construction, financial institutions, health care, high-net-worth families and individuals, insurance companies, manufacturing and distribution, not-for-profit organizations, private equity firms, public sector, real estate, retail and startups.