article thumbnail

DFS500 Amendments: What You Need to Know

Perficient Digital Transformation

These DFS500 amendments signal a crucial shift in the regulatory landscape, emphasizing the imperative for robust governance, risk management, and compliance frameworks across the financial industry. Issues and Findings Management: Document issues and gaps identified during risk assessments and control testing, crucial for compliance.

article thumbnail

NYSDFS Part 500 Cyber Amendments Finalized: What You Need to Know

Perficient Digital Transformation

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Six EAM trends pushing the oil and gas industries forward

IBM Business Partners

EAM systems can include functions like maintenance management, asset lifecycle management , inventory management and work order management, among others. Inventory management : Managing an inventory of spare parts and materials is a significant challenge for oil and gas companies.

article thumbnail

Procurement Costs and How Businesses Can Reduce Them

Planergy Software

Procurement is the act of buying raw materials, goods, and services for a business, as guided by formalized procedures, internal controls, and processes related to not just finance, but inventory management, supply chain management, and supplier relationship management as well. Improving inventory management.

article thumbnail

What is a Procurement Project Management Software? – Definition

Obobo

Finally, procurement project management software can help you create a more efficient and organized workflow. By streamlining task management and document sharing, you can minimize errors and keep your project running smoothly from start to finish. How to choose the right procurement project management software.

article thumbnail

11 Cost Reduction Strategies in Procurement

Obobo

Optimize Inventory Management: Effective inventory management can help reduce waste, minimize storage costs and prevent over-ordering of products. Proper forecasting and real-time tracking can ensure that your inventory levels stay optimal. Medium-Term Cost Reduction Strategies: 3.

article thumbnail

Business process management (BPM) examples

IBM Services

Document-centric BPM is for efficiently managing documents and content—such as contracts—within processes. Also, BPM provides real-time insights into compliance metrics and risk exposure, enabling proactive risk management and regulatory reporting.