Welcome back to The Procuretech Podcast!
We’re continuing our mini series where we ask industry experts and influencers about everything happening in the digital procurement world.
Risk Management, Tech and Resilience – David Loseby from Leeds Uni Business School
Today we’re tackling a big Elephant in the room that everyone’s got their eye on right now: The world of third party risk management.
My guest today is David Loseby. He’s a former CPO of Rolls Royce, a consultant, and is now moving into the academic field.
David is one professor who definitely has the real life experience to back up what he teaches!
We open up with a brief rundown of David’s background: An eclectic blend of the practical and academic.
His drive is to bring more research impact into business.
As someone who’s currently structuring courses, how does David think the syllabus has changed in the last 10 years? Does the rise of tech impact the teaching process?
We discuss the challenges of risk management.
With a staggering complexity of unique challenges to every geography, no-one can be expected to model risk accurately on their own. It’s simply not humanly possible.
This is why we need collaborative single sources of truth.
The value of digital platforms in managing non-strategic spend, and how this relates to risk management.
The impact of black swan events, and how even with lots of data there are some risks that you just can’t predict.
There are two parts to the tehc ecosystem around third party risk management: Material traceability and substainability, and pre-empting risk with intelligence.
The critical importance of the SME population.
Licenses and onboarding packages for SMEs interacting with large enterprises.
Does David think that some tech platforms may grow a consultancy arm to manage tail spend on behalf of mid-market businesses?
David likens committing to procurement tech to a marriage. It’s an interesting metaphor, but one that makes quite a lot of sense.
That’s all for today’s episode.
Many thanks to David for sharing his insights, and if you want to learn more or connect with us here at the Procuretech Podcast you’ll find all the links you need below.
Thanks for listening, and we’ll catch you next time!
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