Source One Partners with CFO.com to Present “Cost Management: Eliminate Procurement Practices that Increase Costs & Risk”

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The Leading Procurement Service Provider and CFO.com Partner to Present Cost Management Seminar

Our real-world examples demonstrate how supposed best practices are actually the worst practices for your business and will provide insight and tangible solutions to improving efficiencies and reducing risk.

William R. Dorn, Jr. of Source One Management Services, LLC and co-author of “Managing Indirect Spend: Enhancing Profitability Through Strategic Sourcing,” and Richard B. Lanza of Cash Recovery Partners, LLC have partnered with http://www.CFO.com to host a webcast event entitled “Cost Management: Eliminate Procurement Practices that Increase Costs & Risk.” This hour-long online seminar will be broadcast through the CFO.com website on October 3, 2012 at 2:00 p.m. EST.

Due to legacy procurement practices that have been passed down, many companies believe their procurement methods are fail-safe practices for purchasing the goods and services they need to run their daily operations. With over two-decades of experience, Dorn and Lanza will highlight these common practices and provide insights into why they lead to higher prices, increased risk and the potential for fraud in a supply chain. Attendees that will benefit from this presentation include CFOs, controllers, internal auditors, business owners, and business unit managers. To register for this event, visit http://www.cfo.com/webcasts/index.cfm/l_eventdetail?webcast=14647682.

“Partnering with CFO.com allows us to draw the attention of financial executives to the growing risks in their supply chains and how misconceptions can expose an organization to risk and excess costs. Our real-world examples demonstrate how supposed best practices are actually the worst practices for your business and will provide insight and tangible solutions to improving efficiencies and reducing risk,” said Dorn, Vice President of Operations for Source One.

“As a leader in the fraud detection industry for over twenty years, I’ve seen the havoc imposed by traditional procurement practices. Webcast attendees will learn how to identify and prioritize the red flags of corruption and potential noncompliance as well as the reporting tools that, when properly applied, can help detect fraud,” said Lanza, President of Cash Recovery Partners.

A division of CFO Publishing, http://www.CFO.com is a valued source of daily news, benchmarking tools, related directories, special reports, buyers’ guides, and educational seminars for financial executives. Coverage includes new accounting standards reports, recent capital-raisings, risk management, and professional career development. The website also features online editions of CFO Magazine.

Dorn, Vice President of Operations for Source One, leads change management, efficiency improvements and technology selection and development for Source One and its clients. His areas of expertise include strategic sourcing, technology, manufacturing, business process reengineering, infrastructure design, project risk analysis, and large-scale system implementations. He has extensive experience in large scale projects for Fortune 500 and other large institutional clients. Dorn holds a Bachelor’s Science Information Technology, focused on Business Systems Analysis, and an Associate’s degree in Electronics Technology and Mechanical Engineering. He is a certified Six Sigma Black Belt. Dorn is an experienced speaker having presented on a variety of sourcing and procurement topics to business leaders across many industries.

Dorn co-authored “Managing Indirect Spend: Enhancing Profitability Through Strategic Sourcing,” published by John Wiley & Sons in 2011. He is the blog master and frequent contributor to the http://www.StrategicSourceror.com blog and is the driving force behind the development of the world’s only free e-sourcing platform, http://www.WhyAbe.com.

Lanza is a certified public accountant and certified fraud examiner who has authored 13 publications and training courses, as well as more than 75 articles, focused on auditing software and cost recovery. He is the author of the book Cost Recovery: Turning Your Accounts Payable Department into a Profit Center which was written after his decades of experience in cost recovery auditing. He has been awarded by the Association of Certified Fraud Examiners for Outstanding Achievement in Business, as well as, being recognized in the AICPA's Audit Standard 99 (AU316) for his work with "Management Antifraud Programs and Controls." Rich Lanza's expertise is helping companies of all sizes identify their hidden financial assets, mostly using technology (http://www.richlanza.com).

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Source One Management Services, LLC, established in 1992, has developed into a leading procurement services consultancy, providing procurement transformation, spend management, market research, strategic sourcing and cost reduction services. Source One helps organizations reduce the costs for the common and not-so-common products and services that they used in daily operations. Source One’s services help to reduce the overall cost of acquisition of products and services through the application of proven best practices in sourcing and purchasing strategies.

Learn more about Source One on the web at http://www.SourceOneInc.com

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Madlen Miller
Source One Management Services, LLC
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