As we emerge from the pandemic, it will become increasingly obvious just how many suppliers are struggling to survive in the ‘new normal’ after a desperate lockdown period – especially SMEs.
So, how, exactly can we tell when trouble may be brewing within our supplier base? Both for existing suppliers and new vendors? How can we ensure their financial viability today?
Moreover, where do our opportunities lie in gathering the core data that helps us tale a rounded view of new suppliers and their levels of stability?
Most procurement teams use the on-boarding process reasonably well; but do you capture all the information you should at a key time for compliance and reporting – and are we pre-qualifying suppliers well enough?
How could we better use the supplier on-boarding process to mitigate risk downstream? And what level of detail should we be applying to due diligence and supplier risk assessments post-pandemic?
Crucially, much of the information we truly want can be ‘hidden’ in the maze of their accounting – both within their published accounts and in their unpublished management reports.
But how do we make the most of these? Can we, in procurement roles, read financial statements well enough? What signs should we be looking for? What are the ‘tells’? How do others do this?
Join this PASA CONNECT virtual Roundtable with the senior KPMG associates from the CFO advisory team, and learn how to read the basic messages from a set of accounts and then in the Q&A get to ask all those questions you have always wanted to ask but never had the confidence to
Jason Collins is a Director in the CFO Advisory team at major global accounting and advisory firm KPMG. Jason is a Chartered Accountant with a purpose of making finance functions better. Jason brings strong expertise and understanding of accounting and reporting standards, as well as practical experience in producing and analysing company financial statements and related information to enable assessments of company financial viability and identification of any red flags.
Samantha Durban is a Director and the Victorian Procurement Advisory lead at KPMG. Sam has over 20 years’ experience in business process outsourcing and procurement advisory. Her experience in strategic sourcing, procurement function evaluation, procurement policies and guidelines, benchmarking, spend analytics and procurement technology enables clients to realise opportunities and create best practice procurement functions. Sam has worked with private and public sector clients in multiple industries. In the last two years the increasing emphasis on monitoring Third Party Supplier risk(s) has been heightened. Sam will bring a broad view of how the market is responding to monitoring these risks throughout the contract lifecycle.
The time of this session is:
11.00-12.30PM AEST (BNE, SYD, MELB)