Risk Mitigation
By identifying potential risks that can impact a business, companies can mitigate the negative effects and improve success rate.
Contact usHow your business benefits
Reduce losses
- By implementing countermeasures and contingency plans, companies can reduce financial risks such as market fluctuations and operational issues
- An early warning about such impending risks can not only help resolve them but also cut cost
Improve compliance
- Avoid penalties and legal consequences by identifying risks related to regulatory non-compliance in advance
- Ensuring compliance is especially difficult due to the ever-changing market and regulatory requirements
Explore new avenues
- Testing new ideas and expanding into new markets are some of the measures adopted by companies to counter the challenges foreseen during risk mitigation
- Assurance of such risk mitigation plan boosts stakeholders’ confidence
Minimize losses
- Identifying factors that can disrupt supply chain can help formulate plans to counter them
- Such initiatives help reduce costs incurred in resolving the risks
Why choose SpendEdge?
Save time and cost
Our risk management solutions help save time and money. We offer customized solutions to resolve challenges, monitor regulatory changes, and have a vast supplier database. These initiatives help companies to cut costs associated with implementing countermeasures.
Protect brand reputation
Brand reputation is vital in determining the success of a company. Any negative impact on the reputation can lead to business failure, even if the company has the resources and money for successful functioning. We identify potential risks that can hamper brand image and offer solutions that will build stakeholder confidence.
Avoid cost overruns
Problems are unavoidable. However, when a company faces issues such as labor or raw material shortage, it adds to the overhead cost incurred. Our experts can help businesses identify such risks and offer mitigation strategies. This, in turn, will help keep costs in check.
Reduce non-conformance
With the rise in globalization, there are constant changes in tax rebates and regulatory requirements, which can threaten business. Keeping a tab on these, though vital, is often difficult due to the lack of local expertise. We offer periodic updates on such changes, which helps reduce non-conformance and thereby cut costs.
Featured Case Study
How SpendEdge Helped CPG Giant Streamline Contract Manufacturer Selection Process
Challenge: Faced with intense competition and the need to improve profit margins, our client turned to SpendEdge for assistance in overcoming their business challenges. One of the main strategies involved migrating cost-intensive operations to low-cost destinations.
Solution: Our team at SpendEdge assisted the client in streamlining their contract manufacturer selection process. Leveraging our expertise and market research methodology, we identified key contract manufacturers for the client’s ready-to-eat product line.
Result: The client successfully addressed their business challenges and achieved improved profit margins and reduced operating costs. All the while, also enhancing product quality and expanding manufacturing capabilities.
Talk to One of Our Experts
Avoiding risks completely is impossible; however, averting fatal risks is key to the success of a company. Since there are too many types of risk, getting an expert to help is always advised.
Talk to Our ExpertsInsights
Category Intelligence
Gain insights related to your key spend categories, ranging from important updates, outlook, and engagement models, to in-depth supply-chain risk analysis.
Supplier Intelligence
Improve supplier selection decision making and supplier relationship management through our services covering supplier identification, supplier updates and alerts, and risk and sustainability analysis.
Strategy Support
Improve strategic decision making through our services related to negotiation advisory, best practices, risk mitigations, supplier KPIs and SLAs, and cost optimization mechanisms.
Category Cost and Pricing
Keep a close look at price movements and forecasts for key commodities and the impact of different cost drivers to formulate effective cost reduction strategies.