The Determine
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A Corcentric Company.

December 5, 2019

Automate to Accelerate: 4 Ways P2P Can Drive Business

Automate to Accelerate: 4 Ways P2P Can Drive Business

Empowering growth through P2P automation.

When it comes to organizational change — and the many aspects of transformation — P2P is in a great position to take the driver’s seat through automation, or at least ride shotgun as finance takes the wheel. What follows are four strategies from a Corcentric webinar and IOFM white paper for procurement teams to focus on.

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November 26, 2019

November DetermiNews: Monthly Review of S2P & CLM

November DetermiNews: Monthly Review of S2P & CLM

Preparing for Business Growth: A look back at a month of resources.

The end of 2019 is all about gearing up for 2020, so our November (and December) resources are all dedicated to helping you prepare for business growth as you’ll read in this DetermiNews. Process automation across procurement and payables was a focus this month, for the simple reason that it makes a major contribution to efficiency, compliance and bottom-line impact. Not a bad way to start the year. Continue Reading

November 21, 2019

How Automation Overcomes the Biggest Challenges in Payables

How Automation Overcomes the Biggest Challenges in Payables

Takeaways from the Levvel Research 2019 Payables Insight Report.

Inefficiency. It’s unnecessarily slow — a time waster that saps morale, dilutes resources and is really expensive. But if you’re using a sluggish, cumbersome, error-prone manual process for your payables instead of automation, you already all that, right? Continue Reading

November 14, 2019

The Accelerating Rise of Cloud Platforms in Procurement

The Accelerating Rise of Cloud Platforms in Procurement

Procurement is going digital at an accelerating rate, and this transformation is critical for every organization – public and private. Not just for staying competitive and relevant, but for increasing the c-suite-level influence that is so crucial to driving enterprise strategy.

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November 7, 2019

Transforming Finance’s Impact Through Automated P2P

Transforming Finance’s Impact Through Automated P2P

“The transformation of the finance function into a catalyst for growth starts with CFOs having more influence in areas that have broader consequences for the business.”

— Institute of Finance & Management (IOFM)

Procure-to-pay (P2P) technologies are often most closely associated with the first P in their name: procure. At the same time, the efficiency of an enterprise’s payment processes have more of an impact on its growth rate than the efficiency of its purchasing processes. And it is finance – not procurement – whose ability to deliver against performance objectives is improved the most when payments are streamlined, and hampered when they are not.

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October 29, 2019

October DetermiNews: Monthly Review of S2P & CLM

October DetermiNews: Monthly Review of S2P & CLM

Being SupplierCentric: A look back at a month of resources.

Approaching supplier relationships the same way as customer relationships is the easiest path to building trust and long-term shared value. Constant communication, a focus on process automation and transparency are all key to getting your supplier relationships to a place where they can do your organization the most good. And vice versa. Continue Reading

October 24, 2019

Here’s Looking at You, Risk.

Here’s Looking at You, Risk.

All risk requires an enterprise-wide perspective.

It is consistently amazing how the conversation about a broad topic like risk is dependent on the individuals involved, and more often than not will generally be focused on specific aspects like contract management, for instance.

In fact, digging deeper into the subject with colleagues and customers, it’s surprising that a majority of what’s been written on risk in a corporate setting narrowly focuses on digital security and compliance in the context of governance, risk and compliance (GRC).

But, as a source-to-pay organization, the question has to be “What about third-party exposure?”

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October 22, 2019

Reviewing Third-Party Financial Statements? Watch Out for These Red Flags

Reviewing Third-Party Financial Statements? Watch Out for These Red Flags

By Tom Rogers. A version of this blog was published on Vendor Centric.

Every company knows that auditing third-party financial statements is an important piece of their due diligence. Financial statements are an endlessly valuable fact finding resource. After all, numbers don’t lie. In many instances, however, reviewers are uncertain what exactly it is they’re looking for. Getting ready to conduct an audit? Here’s a guide to the primary components of an audited financial statement as well as four red flags to watch for.

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October 17, 2019

3 Things P2P Pros Need to Know About AI

3 Things P2P Pros Need to Know About AI

Eliminating the Fear of AI.

As procurement professionals across the globe embrace the Digital Transformation and all of the changes that come with it, it would be remiss not to mention the hesitancy and scepticism that P2P pros also experience when it comes to certain advanced technologies — in particular, artificial intelligence (AI). An unfounded fear looms over this forward-thinking automation, with workers and industries alike suspecting that AI will eliminate entirely the need for a human workforce. However, a recent webinar sponsored by Corcentric reveals just the opposite. The webinar, 3 Things P2P Pros Need to Know About AI, defines artificial intelligence, breaks down its specific capabilities and uncovers the key benefits it provides to procurement.

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