All posts tagged Onboarding
Client onboarding may sound like a simple administrative step, collecting some information, running a few checks, and sending over an engagement letter. But for law firms, onboarding is far from a formality. It’s a critical process that touches on risk management, regulatory compliance, data integrity, and ultimately, the client experience.
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Digital transformation is essential nowadays for business growth and the development of an integrated organisation is undoubtedly a strategic choice. Setting up an agile system can favour the management and operational aspects, allow more effective monitoring and control of operations, minimising the risks that may impact the company’s business.
In this ‘risk-based thinking’ approach, supplier onboarding processes also evolve.
In this article we will see how to implement your suppliers’ onboarding process in an effective, efficient and smart way.
Reading time: 4 minutes.
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We’ve been looking towards blockchain technology for years in the hopes of enabling holistic traceability in smart supply chains and manufacturing networks. As the business sector becomes increasingly complex and decentralized, spanning across multiple manufacturing areas, factories, and even countries, smart contracts are the answer for creating timed supplier qualification certifications through tokens on the blockchain. They can connect to performance indicators in the smart contracts that govern it.
Since the general purpose of a smart contract allows for autonomous verification of qualification criteria and standards, it is ideal for supplier performance monitoring.
Reading time: 3 minutes
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When it comes to supplier onboarding and qualification, both enterprises and small and medium businesses benefit from having a process in place. You can optimize time spent onboarding suppliers and reduce errors with something as simple as automation. And one possible way is by leveraging smart contracts and blockchain technology.
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Ci sono diversi passaggi da seguire se si desidera semplificare l’onboarding dei fornitori e ridurre il rischio di controparte. Queste strategie possono aiutarti a impostare il processo e a migliorarne l’efficienza.
L’onboarding dei fornitori non è un processo uguale per tutti. Può essere complesso e per molte grandi imprese, possono essere necessari 3-6 mesi per completare l’onboarding di un nuovo fornitore. Trovare un modo per semplificare l’onboarding dei fornitori e ridurre il rischio di controparte, può migliorare la relazione e accelerare il processo.
Tempo di lettura: 3 min
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Despite the various technological upgrades that have occurred in the financial services industry over the years, the onboarding process for new customers remains a tedious and expensive process. Most banks still struggle to provide a simple and effective digital onboarding experience. But if they learn how to accelerate onboarding and reduce counterparty risk, they can achieve much better results.
Reading time: 3 min
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Contractual onboarding and supplier qualification, especially when regulation and controls require human work, are often characterised by delays and frustration, as comprising numerous players and moving parts. The vendor completes an onboarding form that includes general and financial information. This stage might also involve the legal team, to ensure it from a legal, compliance, and security standpoint.
Tempo di lettura: 3 minuti.
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