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SINGAPORE, October 7, 2013 /PRNewswire/ --
New collaboration provides governance, risk and audit assessments to aid legal and regulatory compliance throughout the procurement life cycle
Xchanging, the business process, procurement and technology services provider, and Protiviti, a global consulting firm, today announced a strategic collaboration to help customers in Southeast Asia achieve better compliance and governance in their procurement and supply chain management processes.
With Protiviti's consulting services, Xchanging will be able to support its customers to ensure they are compliant with regulatory requirements, internal policies and standard operating procedures.
"Compliance with contracts and procurement policies is a fundamental requirement in any organisation. Companies are increasingly realising the value of integrating processes and technology to support this need and achieve greater operational efficiency," said Joe Poon, President of Xchanging Southeast Asia.
Poon continued, "By collaborating with Protiviti, a firm that has an excellent track record in Governance, Risk and Compliance consulting and internal audit services, we are able to enhance our strategic sourcing capabilities with best practice compliance management. It is an ideal relationship that brings together core strengths from both companies to serve the procurement function's most pressing needs in a seamless way."
"Many organisations face the challenge of achieving the right balance between compliance and value creation," said Sidney Lim, Managing Director, Protiviti Southeast Asia. "Our collaboration with Xchanging delivers a holistic solution to help organisations take a disciplined approach to managing credit, market and operational risks, especially in the procurement process."
Xchanging's full source-to-pay offering currently helps companies reduce costs and manage spend by streamlining the procurement process. Together with Protiviti, Xchanging will be able to provide additional services such as the Revenue Assurance Program, which enables organisations to prevent financial leakages in the purchase to payment (P2P) process. Xchanging's customers will also benefit from services which increase adherence to regulation throughout the procurement cycle.
Xchanging's sourcing process will now include Protiviti's supplier assessment, implementation of frameworks for new programs, review of internal controls, contracts review, records retention program, enterprise resource planning automation control and restricted rights access. These solutions will enable Xchanging's customers to monitor internal governance and compliance from spend analysis to negotiation and contracting.
What we are
What we do
Xchanging brings innovation, thought leadership and passion to its customers' businesses so as to enhance performance and value. Our values are embedded into everything we do.
What we want to be
Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation.
Protiviti is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Through its network of more than 70 offices in over 20 countries, Protiviti has served more than 35 percent of FORTUNE 1000® and FORTUNE Global 500® companies. The firm also works with smaller, growing companies, including those looking to go public, as well as with government agencies.
Protiviti is a wholly owned subsidiary of Robert Half International (NYSE: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index.
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