The Determine

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A Corcentric Company.

How can Agile Contract Governance challenges be more effectively addressed?

In Part 1 of this 2-part blog, we outlined the challenges faced by different stakeholders across the contract spectrum, setting up the need for a holistic approach to data and information management as a prerequisite for agile contract governance. The blog ended with an overview of existing solutions — and their drawbacks. What follows is a look at how leveraging a truly agile CLM solution can result in wide-ranging and lasting business impacts.

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An overview of the challenges in achieving agile contract governance.

If you think compliance is expensive, try non-compliance.”

— Former U.S. Deputy Attorney General Paul McNulty

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Digital transformation is a “must” not a “maybe.”

Companies large and small, B2C and B2B, understand that in order to succeed in today’s global and highly competitive market, it is essential to utilize technology, especially digital technology. By implementing innovative technology, companies can more efficiently manufacture and develop product; more effectively market to and engage with customers; and more successfully gather, optimize, and analyze data. In addition, internal processes become more cost-efficient through the digitization of manual and paper-based processes that have been and continue to be time-consuming and error-prone. Continue Reading

Contract management – or contract lifecycle management (CLM) – is a software solution that provides full-time, automated contract monitoring and helps optimize each stage of the contract lifecycle. Pretty straightforward.

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Transform your upstream to better leverage your downstream.

The recent release of The Forrester Wave™: Source-To-Contract Suites, Q4 2019 was a reminder of the critical importance of this particular set of components in the broader overall source-to-pay continuum. In essence, get the upstream right and the downstream is going to be that much more smooth flowing. Continue Reading

As we look to the start of a new decade, the future looks bright. Much of this optimism is based on an ongoing digital revolution that started in the beginning of the 21st century. Today, the next phase, sometimes called the 4th industrial revolution, has taken shape in the form of what many have come to recognize as “digital transformation.” Any Google search on these terms will generate thousands of results that include views from pundits and non-pundits alike, on what it is and what it’s not. Continue Reading

Happy Holidays and Best Wishes for 2020!

Without a doubt, becoming part of Corcentric early in 2019 was the biggest thing that has happened to Determine since it was formed four years ago. Looking back on this momentous year and the changes it brought makes the prospect for the year ahead even more exciting in terms of product offerings, collaboration, process transformation and business improvement. Which, coincidentally, are the topics that make up our Best of 2019 Top 10 List of source-to-pay and contract management resources as defined by you.

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Maximize ROI by focusing on the procuring and the paying.

If procurement wants to succeed in 2020, we need to measurably improve all of procure-to-pay (P2P). Of course, in order to do that, we have to improve how the company purchases goods and services and also how it handles supplier payments. While that seems logical and straightforward, most procurement teams neither procure nor pay. What we are left with is a situation where we need to empower those who will ultimately carry out the work.

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3 essential questions every procurement leader should be asking to better align their organization.

“To transform the [Procurement] function,” wrote Corcentric Procurement Director Jennifer Ulrich recently in Spend Matters, “they’ve got to first change the way other business units perceive and engage it.” She was commenting on the fact that even highly mature Procurement organizations have a lot of work ahead of them.

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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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