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Cyber security and your business risk

In Big Data, Invoices, Regulation by VendorMach

According to Allianz’s Risk Barometer 2017, Cyber Incidents is a top global business risk in the UK and Germany in 2016 while Business Interruption (related to supply chain risk and interdependencies) is the top business risk in the United States and France (with cyber incidents, the 2nd top issue in US and France) Cyber incidents such as attacks and breaches have grown in frequency. Breaches hit a new record in 2016, soaring to 1,093 and accounting for 37 million records, up from 780 incidents in 2015 per the Insurance Information Institute (III). According to a new report from the Institute, …

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Supply chain analytics and Automation

In AI, digital transformation, KYC by VendorMach

Last week VendorMach had a busy couple of days exhibiting at CogX 2017. An AI forum drawing audiences from startups and corporates, it was a good mix of people, a vibrant atmosphere, and some of the best brands in tech. We had a number of stimulating conversations and continue to learn that supplier risk management is a pain point across industries. Automation in online and offline retail Retailers find themselves operating ever more complex supply chains. One online fashion retailer in particular prides themselves on top customer service and efficient delivery and return handling. This involves flawless management of thousands …

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VendorMach CEO talks digital transformation on CIOReview

In AI, Big Data, CIO, digital transformation by VendorMach

VendorMach CEO looks into the future of AI and digital transformation with CIOReview. Here is an excerpt – Do you believe that artificial intelligence will change the modern way of living? How is it impacting society? Sure, it will change core behaviors and expectations – and cause less reliance on humans. One can argue whether we really need our own driverless cars or personal robots?  If we rephrase the question, can certain industries use driverless cars or robots to improve speed, reduce error and accuracy that ultimately serve consumers then yes, it will be a positive impact.  To reach the …

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Nine steps for CIOs towards Supply Chain Management

In AI, Big Data, CIO by VendorMach

Due to the growing digital footprint and impact of systems and architecture with business processes, the role of a CIO has become more important than ever. Here are nine steps they can take to be successful: 1. Make time to manage both IT and the supply chain  CIOs juggle many different priorities and struggle to meet competitive demands As IT and business processes become more and more interconnected, CIO’s should contribute more to business strategy such as the supply chain. Many organisations have a centralised ‘Information’ function. Enterprise resource platforms (ERPs) bring together the IT and business processes for a …

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Does Industry Matter When Collecting Payments?

In Big Data, Invoices by VendorMach

According to VendorMach data, yes industry matters when it comes to collecting receivables. VendorMach sorted through 13,000 UK private companies records with trade debtor receivables data in its database. After filtering for companies with revenue, excluding firms with 30 days payment or less (best practice) and further standardizing the industries, we were left with 1500 records to analyze and the top 10 B2B industries with a penchant for getting paid very late. Of the 1500 records, the median DSO (days sales outstanding – the number of days it takes to collect receivables) was used. To further provide context with the …

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Digitising the Supply Chain

In Big Data, CIO by VendorMach

Supply chain professionals are now told on an almost daily basis that their next challenge is to digitise the supply chain. A recent report from PwC says that computerising the process promises to “make the supply chain more efficient, agile and customer-focused”. This is undoubtedly accurate, but advice on this typically majors on what is possible within the supply chain – the use of emerging technologies such as the internet of things and 3D printing to solve traditional, analogue headaches. This is an excerpt of an article by VendorMach CEO, to read the full article go to ITProPortal