Discussions Explore Corporate Identify Theft and Best Practice Risk Mitigation Strategies
SAN FRANCISCO, CA, October 26, 2012 — Aravo Solutions, Inc., the leading provider of cloud-based Supplier Lifecycle Management (SLM) and B2B information and collaboration solutions, recently chaired a Procurecon USA 2012 industry track exploring best practices in global supply chain risk management. Joined by Thomas Hattier, Manager, GE Shared Source Services, Aravo also led roundtable sessions discussing Fortune 500 challenges around: “Taming Supplier Information Complexity: Building A Single Source of Truth Across the Enterprise.”
Procurecon’s agenda focuses on topics to ensure that procurement does not become an impediment to progress but rather a key driver of supply availability & continuity, business excellence, and working capital growth for R&D investment and managed growth. Global supply chain risk management track sessions led by Aravo at Procurecon included presentations discussing:
- Corporate identity theft by scammers impersonating enterprise procurement departments to establish credit lines with suppliers and place fake orders for goods to be transshipped overseas.
- The evolution of electronic payment methods to simplify settlement processes and reduce accounts payable risk, errors and fraud.
- Global risk management best practices for risk identification, prioritization and mitigation across industries and geographies.
Building on the content learned in these sessions, attendees participated in a series of roundtable discussions including Aravo’s sponsored session led by GE’s Thomas Hattier. Managing one of the world’s most complex supply chains, GE does business with over 800,000 suppliers across thousands of entities. To tame this supplier complexity, GE deployed a SIM software solution that was scalable, quick to implement, highly configurable and easily adopted by users. “We are confident that our decision to implement Aravo SIM was both strategic and cost effective”, said Thomas Hattier, Manager, GE Shared Sourcing Services.
“Aravo was excited to host these sessions at ProcureCon 2012 where experts from across our industry gathered to share their ideas and best practices,” said Robert Shecterle, Vice President of Marketing for Aravo. “Procurecon is one of the industry’s premier procurement events, and provides solution leaders like Aravo with a unique opportunity to join practitioners in exploring current spend management trends and future directions.”
The world’s best-run businesses utilize Aravo’s Cloud-based Supplier Lifecycle Management solutions and Supplier Risk Services to find and manage trading partner relationships, reduce supply chain risk, ensure global regulatory compliance and lower the cost of managing suppliers by up to 72%. Aravo launched the market’s first SIM/SLM solution in 2004 and has been the leading innovator in the space ever since. Customers such as General Electric, Accenture, and Boston University rely on Aravo to manage information and processes for over 2 million global suppliers. Aravo is based in San Francisco, with offices in Chicago, Dallas, New York, Portland, Monterrey, Mexico and Ahmedabad, India, and is backed by over $50 million in investment from Cisco Systems, Big Sky Partners, and others. For more information regarding Aravo’s award-winning solutions please visit our website at https://aravo.com.