Omnea Partners With Thought Machine to Transform Procurement Governance

Omnea, the procurement orchestration platform, today announces a new partnership with Thought Machine, the cloud-native banking technology company. This collaboration equips Thought Machine to seamlessly embed third-party risk and financial governance within its procurement processes, delivering best-in-class user experience to requesters, reviewers, and suppliers.

Partnering with Omnea allows Thought Machine to consolidate legacy vendors and unify its third-party risk management processes, procurement intake and approvals, and supplier management processes within a single platform. Omnea makes it simple for employees to make requests and intelligently routes them to the proper security and finance reviewers. Additionally, it automatically sends security questionnaires to suppliers, enabling Thought Machine to maintain the highest level of risk management and compliance with operational resilience-focused regulation.

Nitesh Palana, Director of Risk and Compliance and Head of Government Affairs at Thought Machine, commented: “Omnea’s platform enables us to embed consistent security and compliance frameworks throughout our procurement processes to meet stringent regulatory standards such as DORA. After thoroughly reviewing the market, Omnea’s deep focus on risk management made them the clear choice to partner with to transform our procurement processes.”

‍Abhirukt Sapru, CCO at Omnea, commented: “Thought Machine is bringing banking infrastructure and payments into the modern age. We’re thrilled to partner in strengthening their third-party risk management posture, while delivering exceptional experiences throughout their end-to-end procurement processes.”