Procurement Transformation: Unlocking the Full Potential of Third Party Relationships at Hanover Insurance

Most organizations today rely on a complex ecosystem of external third parties/suppliers. The traditional Third-Party Risk Management (TPRM) approach has focused on the compliance and regulatory aspects – while still important, it’s not enough anymore. Companies need to think about TPRRM (Third Party Risk and Relationship Management) extending the focus to ensuring realization of the desired business outcomes from the relationship – deliverables, efficiency, savings, etc.

Listen to this session recording to learn how Hanover Insurance’s procurement function is driving the above transformational shift within the organization. An important part of this transformation has been leveraging AI-powered technology, including the Sirion Contract Lifecycle Management platform, to improve visibility and alignment across the supplier lifecycle – from pre-signature to post-signature. The session is co-presented by Suraj Prashad, Chief Procurement Officer, Hanover Insurance and Mark Voytek, Sirion’s Chief Customer Officer.