Compliance management in Procurement at Bilfinger SE
Companies that work together with many different suppliers, subcontractors, and service providers and that operate on all procurement markets have to deal with a multitude of regulations and challenges – as well as with increasing complexity – when it comes to their supplier management. In order to deal effectively with the potential risks that can arise along the value-added chain, our Procurement Division works hand in hand with our Compliance organisation. This close coordination allows us to identify such risks ahead of time and to mitigate them in a consistent manner.
Thus, ensuring strict adherence to the Compliance guidelines that have been put in place for Procurement is one of our top priorities. After all, our business dealings with suppliers may give rise to any number of liability-related risks. These must be identified early on, and need to be counteracted through appropriate measures, so as to prevent financial and/or reputational damage to Bilfinger SE. Accordingly, it is essential that we carefully vet our chain of suppliers. Only then can we be sure to avoid possible problems, such as ambiguous contractual agreements, unethical conduct or violations of the law (e.g. against anti-trust statutes).
Transparency is key
The need to operate on global procurement markets makes it all the more critical that the activities pursued by Procurement in this area be based on transparent processes. Thus, we not only rely on our Compliance management system, but also set great store by adhering to all the currently applicable guidelines and policies with respect to procurement, integrity, and dealings with third parties. This is how we minimize potential risks while ensuring our procurement is as efficient as possible.