RegTech- The marriage of Regulation and Technology and its effects

Regulatory Technology or RegTech, as its name suggests, helps organizations achieve compliance. It is being hailed as the “the new FinTech” and rose to prominence in 2015, from total obscurity.

Effective Vendor Selection holds the key to successful Vendor Management System (VMS)

According to Gartner, Vendor management is a “discipline that enables organizations to control costs, drive service excellence and mitigate risks to gain increased value from their vendors throughout the deal lifecycle.” Vendor management should enable organizations to select vendors suited for their business requirements, develop vendor contracts, manage and control vendor performance, and build a sustainable relationship for the long-term efficient business operations.

Steps to Vendor Life Cycle Management

With new technologies, business expansion and cost focus, the importance of vendor has increased dramatically in the past few years.

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