Could a simple vendor decision cost your company millions? For one bank, it did. This video breaks down the true story of How a Simple Mistake Led to a $20 Million Ponzi Scheme. Anders Lillevik, a 25-year procurement veteran and founder of Focal Point, uses this shocking real-world example to illustrate the critical importance of a structured procurement process. This is a masterclass in corporate risk management. You'll learn the full story of how a seemingly logical vendor choice spiraled into a multi-million dollar disaster, a practical framework for conducting proper due diligence on new suppliers, and why "Excel is not a management tool" for any business that wants to scale safely and efficiently. Check out the company: https://getfocalpoint.com

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🕒 CHAPTERS

00:00 - "Excel is Not a Management Tool": A Procurement Manifesto

03:33 - What is Procurement? (A Simple Guide)

06:42 - The #1 Mistake That Grinds Businesses to a Halt

09:54 - The $20 Million Ponzi Scheme Caused by One Bad Vendor

13:06 - A Masterclass in Due Diligence: How to Vet a New Supplier

16:06 - The Real Cost of a SOC 2 Certification for a B2B Startup

19:16 - How Modern Auditing Finds the Problem

25:34 - Inside a $5.5M Seed Round: From Product to Scaling

28:41 - Why Our B2B Sales Cycle With One Client Took 14 Months

31:45 - Why "One-Size-Fits-All" Software is Obsolete

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