Insights by Nitor

Managing Counterparty Risk in the Era of Sanctions

Posted by James Wilson on Dec 5, 2022 10:45:28 AM

The war in Ukraine and the resulting comprehensive trade sanctions targeted against the government of Russia (and to a limited extent Belarus), along with companies domiciled in or with ties to Russian entities, and individuals tied to Putin’s inner circle have unleashed a flurry of “What Ifs” as it relates to counterparty risk within the supply chain and customer base. As the conflict unfolds, more and more sanctions seem to be leveled daily by a multitude of countries in an attempt to cut off the flow of funds to Russia. Within this global landscape, companies are now having to manage the risk of compliance against a rapidly changing list of prohibited counterparties, in multiple languages, that may or may not be fully comprehensive or accurate. Unfortunately, balancing this risk is no guarantee that you won’t violate a sanction or inadvertently deny legitimate counterparty access to their own funds. Understanding how to protect your company from the financial, reputational, and ethical risks in this veritable minefield of sanctions will be critical in the “New Normal”.

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Topics: treasury and working capital, treasury management, finance

The Power of Knowing Your Organization’s Change Readiness

Posted by Anne Przeklas on Apr 4, 2022 1:58:41 PM

Imagine your organization is a few weeks away from launching a major change and being asked, "Are we ready?" If the answer isn’t a confident “Yes,” this three-word question can send a project team into a panic, distracting from important final tasks and causing Go-Live to be at risk. One way to avoid this scenario is by incorporating change readiness assessments into your change management strategy.

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Topics: change managment, procurement change management

"SI-X" Ways to Select a Procurement and Supply Chain Management Software Service Integrator (SI)

Posted by Darrow Weiss on Mar 16, 2022 9:52:40 AM

The world is literally and figuratively breathing easier today now that the global pandemic is finally on the wane. But, at the same time, increased product and services costs, geopolitical instability, combined with delivery delays and inflation, have created the perfect storm for every company worldwide, both large and small. Most companies are again turning to their Procurement and Supply Chain (PSCM) organizations to come to the rescue. However, in the last three years since the start of the pandemic, most of these organizations have experienced staff shortages, and have found their systems are unable to optimize the gigabytes of data from each incident.

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Topics: supply chain management, procurement consulting, procurement technology

Outgrowing Spreadsheets

Posted by James Wilson on Nov 1, 2021 9:06:44 AM

When it comes to the fundamentals of tracking and forecasting cash inflows and outflows, many organizations have turned directly to spreadsheets as a convenient way to get started.

Spreadsheets may solve your basic needs, but things can quickly become overwhelming as you try to create a scalable architecture to accommodate multiple accounts from various business units, each of which needs multiple line items to capture and summarize inflows and outflows and to monitor cash movements between accounts. Columns are also required to track every banking day of the year. Managing multiple cells, links, and tabs leads to confusion and wasted time fixing the inevitable errors.

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Cash Is King: Managing Spend to Improve Capital Efficiency

Posted by James Wilson on May 4, 2021 9:18:31 AM

Leveraging purchasing power to capture volume-based pricing within a competitive supply chain builds solid relationships with reputable suppliers, cuts costs, and acts as a hedge against inflation. Your organization’s total spend is a dynamic tool. If we apply the adage of, “Whomsoever holds the gold makes the rules”, we can further leverage this purchasing power to unlock working capital, improve capital efficiency, and deliver savings.

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Topics: treasury management, finance, dynamic discounting

Nitor CONNECTOR for SAP Ariba and Qualtrics XM for Suppliers Provides Integration to Help Improve Supply Chain Resiliency and Continuity

Posted by Sean Sollitto on Dec 15, 2020 4:21:54 PM

CLEVELAND— December 16, 2020 - Nitor today announced that its Nitor CONNECTOR for SAP® Ariba® and Qualtrics® XM for Suppliers is now available on SAP® App Center, the digital marketplace for SAP partner offerings. This new application integrates SAP Ariba solutions and Qualtrics XM for Suppliers, available on the Qualtrics XM Platform™, enabling automatic supplier feedback requests, distribution and data collection from within SAP Ariba solutions.

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Topics: Supplier Management, procurement technology, SAP Ariba, Qualtrics XM

Managing Your Bank ERP Cloud Migration

Posted by Ken Cavazzi on Sep 1, 2020 10:49:38 AM

Over the next five years, there will be a seismic shift in the enterprise software space. Before the decade is over, a majority of companies will need to migrate their on-premises ERP software to the cloud as older versions of the applications will cease to be supported. Within a narrow timeframe, the demand from companies needing conversion services will surge and create capacity constraints for their respective ERP software providers and the third-party system integrators tasked with facilitating this massive undertaking. This perfect storm of having to complete a multi-year project within a narrow conversion window means that implementation services will be stretched thin and at a premium.

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Topics: treasury management, finance, banking ERP

Nitor DATA ASSURE Now Available for Purchase on SAP® App Center

Posted by Sean Sollitto on Aug 20, 2020 9:12:45 AM

CLEVELAND— August 25, 2020— Nitor today announced that its Nitor DATA ASSURE app is now available for online purchase on SAP® App Center, the digital marketplace for SAP partner offerings. Nitor DATA ASSURE automatically validates supplier data in one step, without human interaction.

"Nitor DATA ASSURE is now integrated with the SAP Ariba Supplier Lifecycle and Performance solution, validating supplier data, including legal name, address, US tax number, Office of Foreign Control (OFAC) check and more," said Sean Sollitto, Principal with Nitor. “This app will help reduce inefficiencies associated with supplier data integration, automate the supplier data gathering process and help ensure clean supplier data in ERP.”

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Topics: procurement technology, procurement transformation, SAP Ariba

Procurement Supplier Data: Stop the Garbage!

Posted by Paul Recchia on Aug 18, 2020 1:32:46 PM

In the Australian city of Kwinana, nets at several drainage pipes in the area have been installed. You see, Kwinana has a major issue: garbage carried via storm runoff into waterways and ultimately polluting the environment.  


By installing the nets, Kwinana has vastly cut down on the amount of garbage deposited in the rivers and lakes. In a mere six months, Kwinana has stopped 815 pounds (370 kilograms) of waste from entering the waterways. Not only is this better for the environment, it saves money - the cost to clean up garbage goes up 4x once it is in the waterways as opposed to catching it in these nets.

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Topics: procure to pay, eprocurement, procurement transformation, SAP Ariba

Nitor CONNECT Now Available for Purchase on SAP® App Center

Posted by Sean Sollitto on Jul 13, 2020 9:46:50 AM

Nitor CONNECT integrates SAP Ariba® and Microsoft Teams to create a hub for team collaboration, communication and document storage. Nitor CONNECT streamlines chats, training materials and files to create efficiency and support compliance in the source-to-settle process.

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Topics: supply chain management, procure to pay, eprocurement, SAP Ariba

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