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January 24, 2019

The Impact of Supplier Management on Spend

The Impact of Supplier Management on Spend

Linking the Dynamics of Supplier Relationships with P2P.

In an environment of increased regulations and demand for compliance, organizations are placing their suppliers under increasing scrutiny. Yet, managing supplier information is often near impossible given the the inability of organizations to easily tie supplier information to procure to pay (not to mention contracts and enterprise data as a whole).

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January 22, 2019

CPO Rising 2018: Self-Service, Agility and Digital Transformation.

CPO Rising 2018: Self-Service, Agility and Digital Transformation.

A look at best practices in managing supplier and contract lifecycles.

I recently had the privilege of participating in Ardent Partners’ third Annual CPO Rising 2018 Summit. The calibre of CPOs and procurement professionals who attend this annual event is outstanding, and there is a considerable amount of shared learning. The article here combines content from my presentation, concepts and ideas raised during the event, and feedback from the Q&A session. The net takeaway from the summit is, procurement as a practice is changing fast, and those who can think and act ahead of the curve will be that much further ahead.

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January 17, 2019

The Procurement Maturity Curve, Part 2: Savings — and Value — at Every Stage

The Procurement Maturity Curve, Part 2: Savings — and Value — at Every Stage

Part One of this two-part series on procurement maturity looked at how procurement is (and likely always will be at some level) linked to savings, even as our perspective on those savings changes. But the scope of procurement’s role has expanded. Technology and data are accelerating procurement along the value continuum and expanding our contributions beyond the bottom line. In Part Two, we look at how procurement professionals can leverage tools to increase our organizational effectiveness — and influence.

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January 15, 2019

The Procurement Maturity Curve, Part 1: Savings at Every Stage

The Procurement Maturity Curve, Part 1: Savings at Every Stage

After multiple years of transformation (first procurement, then digital), most of us have accepted the idea that we work in a state of perpetual change and self-examination. What are my company’s current practices? What am I doing to advance myself or my team to the next level? How does that compare to what my competition is doing? Isn’t this striving for growth what “procurement maturity” is all about?

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January 10, 2019

E-Invoicing: Replacing errors (and costs) with accuracy.

E-Invoicing: Replacing errors (and costs) with accuracy.

The evidence has been accumulating for decades that electronic invoicing, or e-invoicing, saves users considerable time and money. Respondents to a global study by The Institute of Financial Operations found that 56% of businesses using e-invoicing spent considerably less money processing invoices than those businesses using manual systems. So why isn’t every business using it today?

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January 3, 2019

Wondering What Your Procurement Contracts are Worth?

Wondering What Your Procurement Contracts are Worth?

How much value is your business gaining from your contracts?

If an executive asked you what a given contract was worth, most of us would likely give an answer based on the estimated spend with that supplier as a result of projected volume, negotiated costs and term. While this would be an accurate answer, it limits the “value” of the contract to its transactional footprint.

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December 27, 2018

DetermiNews: The Best of 2018 in Source-to-Pay and Contract Management

DetermiNews: The Best of 2018 in Source-to-Pay and Contract Management

Happy Holidays and Best Wishes for 2019!

Top leaders all have one thing in common: they have very eclectic tastes when it comes to what they read and what they’re interested in. Which pretty much describes all of you, based on the wide-ranging entries on our list of Top 10 Resources for 2018 in source-to-pay and contract management as defined by you.

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December 20, 2018

Think like a CLM consultant to improve compliance, reduce risk, and increase profit.

Think like a CLM consultant to improve compliance, reduce risk, and increase profit.

How to think about contract management in an era of rising regulation and compliance enforcement.

As explored in Part One of this series, a shifting regulatory and global business environment are compelling organizations to implement a much more robust strategy and technology approach to contract management (or contract lifecycle management – CLM). Part Two looks at how changing your perspective on the topic can make all the difference in how you approach it, and how you think about the outcome. Consider the role of the consultant in business. It’s their perspective — as much as experience and expertise — that bring value to a business. By adopting some of that ability to see things differently as it relates to contract management, you begin to see all the way it can create value.

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December 18, 2018

Rising Regulation and Compliance Enforcement = Increasing Need for Contract Management

Rising Regulation and Compliance Enforcement = Increasing Need for Contract Management

Whatever your industry, rules and regulations are constantly shifting playing field. They come and go, sometimes unnoticed. Staying on top of the changes means having the most agile contract management approach possible — a fact that’s clearly on the rise. Survey after survey from various analyst firms and consultancies show that contract compliance and management is a growing area of concern. Just as important, if not as urgent, is the fact that good contract governance is also good for business.

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