All enterprises, our customers and prospects included, share a common challenge when it comes to supply management, That challenge is the burden of having a plethora of siloed solutions. The solutions range from supposedly comprehensive spend management platforms to spreadsheets and manual processes, to category-specific solutions and supplier portals. Help, however, is on the way and it isn’t taking the form of the unattainable ERP vision of one all-inclusive behemoth.Continue reading >>
The role of Procurement is ever changing and growing in importance. What are your company's current practices? What are you doing to advance to the next level? Savings is still a primary focus and a critical measure of effectiveness, but it's not the only one. In this two-part series, we'll examine how procurement technology is (or should be) adding value across enterprises. We’ll also touch on how incorporating data and analytics tools can enhance processes, providing procurement professionals with increased oversight of compliance, risk management and collaboration. While there is an overall progression from one to the next, there are also opportunities for advancement and expansion within each focus area.Continue reading >>
It was in 2009 when Kellogg Company began exploring new options for a contract lifecycle management tool. That decision, however, got put off as the company pursued a major acquisition opportunity. This turned out to be fortuitous, because the combination of the acquisition process, integration of the new business and the increase in our volume all served to highlight the need for a more robust CLM. It also helped formulate and focus our list of CLM requirements and priorities.
I got to discuss this process in detail during the recent Determine webinar, How General Counsel & Procurement Are Leading the Adoption of Contract Lifecycle Management, which also included a presentation by Prashant Dubey of The Sumati Group.Continue reading >>
Talking about cloud computing today has become commonplace as cloud-based technologies play a more critical role in business. But much like other technological innovations, one thing leads to another, with each iteration building on its predecessor. Consider the evolution of the power grid, of telecommunications, of the personal computer, or of the Internet...Continue reading >>
A lot has already changed within the first few weeks of the year. The China asset bubble finally burst, oil prices are near $25 a barrel and indicators predict especially uncertain times. Could 2016 be the year that we see the predictions of 2008 come home to roost? Whatever the year holds, David Bowie was right, the future will not be boring.
As we hope for the best and prepare for the worst, here are my key business considerations for the year ahead...Continue reading >>
Successful implementations that meet complex customer needs begin with strong relationships.
We know that strong relationships are based on integrity, which takes time and effort to develop. But believe me, the ROI of integrity is real. From lower churn, more referral customers and loyal clients to shorter sales cycles, bigger deals, happier employees and more innovative solutions — investing in integrity is good for business. In fact, integrity is one of our core values at Determine.Continue reading >>
Happy New Year! Welcome to 2016! Just a couple weeks into the new year and maybe 75 percent of resolution makers are still on track, in six months fewer than half will be. To make things happen this year, most of us need to focus on a few key (and achievable) goals.
If you don’t know where to start, Determine™ can help! You can chat with one of our experts about 2016 planning. We can help with successfully managing your challenges and goals and guide you in achieving some strong procurement and financial resolutions for 2016. With specific goals in mind and our support, you are sure to have an outstanding year. Let’s start with some critical functions and processes that could advance your career and make you a stronger asset to your company. Here are eight key resolutions to get you started to becoming a better procurement manager or CFO in 2016.Continue reading >>
When talking about procurement and finance collaboration, purchase-to-pay (P2P) technology always seems to come up. Budgeting, planning and savings implementations are shared across procurement and finance, but the connection between these two organizations also involve activities such as sourcing, purchasing, contracting, approvals, capital management, payments and more.
In addition, more and more often the CPO reports to the CFO — another reason finance and procurement should aim to work seamlessly together. Although these departments have been historically siloed, they actually have more in common than not. And forming stronger alliances between them provides benefits across the enterprise.Continue reading >>
One of the hot topics in sourcing today is the trend toward center-led procurement organizations. This is where strategic decisions are coordinated centrally while transactional activities are decentralized across the organization, especially in large enterprises (>1 billion dollars).
Today we are going to compare and contrast center-led procurement with the traditional centralized and decentralized models of procurement, and review some of the advantages of the center-led model.Continue reading >>
Overhead cost control, reduction and compliance with agreed budgets—They’re on every organization’s agenda, yet few have the processes and solutions in place to achieve them. In this blog we look at the issues and the solutions.Continue reading >>