Procurement Compliance starts in procurement.
Procurement Compliance – Does your company work with procurement today?
For most businesses larger size, the answer is yes – whether they know it or not. But the facts are that every business works with procurement in one form or another.
Procure is the purchase, and every business purchases something, from raw material, services, or labor and your compliance starts with the suppliers, vendors, and partners you team up with, your business can never be more compliant than the weakest link if your chain.
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Procurement turns ongoing purchase into a contract done with legal and build up the processes and procedures.
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Procurement compliance briefly explained, starts in your procurement department and is the agreed contract and alignment between A and B.
But what does that mean?
And how do you achieve the alignment for your business procurement compliance?
This article will present the answers, where we give you the answer to what Procurement compliance is, why it is vital for your company, employees, partners, and suppliers alike – and of course, how AnonymousWhistleblowing can assist you in ensuring Procurement compliance throughout your company.
What is Procurement compliance?
Procurement compliance is about making sure that there is an alignment between the business requirements, as sustainability evidence plan, strategy, and legislation agreement between A and B.
Where the A often will be the law, a set of rules of regulations such as industry regulations, government legislation, or as the Whistleblowing directive or it can even be internal guidelines, whereas B is the organization’s partners, suppliers, customers, employees, etc.
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If a business (or part of it) is in Procurement compliance this means that they are in accordance with established guidelines or regulations – or at least the process of becoming so.
What needs to be in place is the documentation to support the business strategy or sustainability plan.
Without documentation business compliance is hard.
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As such, Procurement compliance is relevant for every part of an organization. Being compliant most often means you make fewer mistakes, have a solid overview of alignment in the chain, and holds risk management.
For example, if the organization and its suppliers comply, they understand each other, they make fewer mistakes, and the corporation is more efficient and frictionless.
Why is Procurement compliance important for my company?
Feedback and documentation are the keys to most (if not every) business today. Feedback and documentation ensure that we make correct decisions based on facts and the relevant data – not the feeling in our stomach.
When you have the proper feedback and documentation to base your decisions upon, you have the foundation to ensure and document Procurement compliance throughout the organization worldwide.
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Said plainly procurement compliance is: It does not matter what your customers want to buy from you what matters and – what is essential is, to know what you buy, what it is or contains! The next question is – how do you obtain this knowledge? You obtain that knowledge and information – By asking the right questions to the right people and thus receiving valuable feedback and documentation.
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With feedback and documentation, you can control the uncontrollable – and AnonumousWistleblowing in collaboration with Flexco holds that concept that lets you do exactly that.
With Procurement compliance in your organization will achieve better performance and be able to address points before they develop into mistakes and errors, it means that you can:
- agile make swift decisions
- achieve transparency and improvements
- act proactive and predict possible errors in your value chain
- minimize risk
- based decisions on relevant analysis and data
- act smarter, better, and faster
- support your sustainability plan with documentation
- initiative the improving actions.
EMPLOYEE EXAMPLE: ENSURE EMPLOYEE PROCUREMENT COMPLIANCE WITH RELEVANT FEEDBACK
We stand face-to-face with a new normal – no doubt about it. Employees now work from home in the office or 100% remote. How do we engage and ensure right support IT tools or that they work in procurement compliance to business needs?
Do you want to ensure your employees’ Procurement compliance during these times of change?
Here are 2 ways your company and HR department can secure employee compliance:
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- Know what’s coming and be resilient
No better way to maintain employee Procurement compliance than to know what challenges might be in the way from the feedback documentation in real-time. How to know this? Ask you employees the right questions and utilize on the feedback, documentation and data you need get to be proactive. - Be agile – get online and get real-time feedback documentation.
No more manual surveys, analysis or documentation and hours spend on analyzing questionaries getting the report.
Go online with the Flexco platform and let us deal with the analysis and documentation for you! Flexco will provide you with a relevant concept of feedback and documentation and all in real-time.
Contact FlexCo today to learn more about Employee Procurement compliance through the feedback documentation system.
Want to know more about the importance of feedback? Visit our article “Why is feedback important more than ever”.
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How to achieve Procurement compliance!
The goal in most organizations is to have compliance, but how do you achieve that? The short answer is useful feedback and documentation – or assessment-system to gather the information. To provide you with the answer to build the solution, let us take an example.
In many organizations, there is a goal to have Supply Chain compliance. This includes:
- supply chain transparency with solid process and procedure
- Documentation through feedback from everyone involved to be flexible
- High engagement and performance to ensure quality
- Flexible to needs to address changes.
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To achieve procurement compliance, the organization must have goals and a plan, today most businesses have a sustainability evidence plan or strategy with goals. The plan or strategy must enroll:
- Determine which behavior, ethics, and rules fall within the company’s territory
- Plan, organize, and develop internal guidelines on how to comply with these rules
- Make Procurement compliance a factor when onboarding new suppliers
- Set up a feedback chain to improve transparency and supply chain visibility with your existing suppliers.
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A clear strategy and agile feedback and documentation – or assessment platform will help you achieve a trusted supplier relationship and ensure each process and procedure in your supply chain from what the supplier delivers to when he delivers it and in what quality. And if necessary, you can create changes and act on facts – not conjectures.
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How can we assist you in achieving procurement compliance?
As a partner with Flexco, we deliver such feedback and documentation in the form of real-time analysis and documentation through our concepts and platform. We unite what needs to be for your sustainability plan for procurement compliance.
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You ask the right people the right questions, respondents deliver the answers, and we provide the relevant analysis, PFD files, and documentation.
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It’s that simple.
We have already established that Procurement compliance is crucial for your company – and that feedback and documentation is extremely important for your risk management and Whistleblowing.
Now you may be aware that not all input is as relevant. It is not just about feedback but receiving the right feedback and be able to document the feedback you get.
For feedback to be relevant and valuable, it must come directly from the source.
For example, your feedback and documentation must come from the supplier you work with to achieve supplier chain compliance.
The same goes for every aspect of your company.
WHEN YOU CHOOSE OUR CONCEPT, YOU CAN EXPECT:
- tool tailored for your specific needs
- a high degree of user-friendliness
- a platform where you own your data! (we are GDPR-compliant)
- a partner (FlexCo) which provides a personal service
- lots of guidance – we never let go of a customer before they feel 100% comfortable working with our software
- a lot more free time as you do not have to burden yourself with heavy analysis-work – let the system do the math for you.
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Want to know more? Reach us today and begin your compliance-journey
At AnonymousWhistleBlowing, we partner and support you throughout the full process. From the initial introduction to your new software until you feel completely comfortable using our software in your daily routine.
Set up your assessment feedback up for the documention you need and in real-time for Procurement compliance today and start harvesting all the benefits from real-time insight, automatized analysis, documentation and validation files.