The Power of Portfolios in Third-Party Professional Services
The winner of the Innovations in Third Party Management Award is Fannie Mae.
Project Description
The power of a portfolio, whether in stocks or third-party professional services,delivers a whole that is greater than the sum of its parts. In the classic case of stock portfolios, they deliver more financial return with less risk. In this case, we have more effective capabilities with less delivery risk.We don’t have one portfolio, but a portfolio of portfolios of supplier category channels. Each competitively sourced channel delivers increased value with decreased risk within its category. Managing the combination of category channels on a common digital platform creates a portfolio effect across the span of professional services engagements both large and small.
Other finalists included:
- DBS Bank – DBS Buying Smart Project
- Bank of Canada and Ontala – “Next Generation” Third Party Risk Management at Bank of Canada Project