The Determine
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A Corcentric Company.

December 12, 2019

Procurement’s 2020 Challenge: Improving P2P by Investing in the “P” and the “P”

Procurement’s 2020 Challenge: Improving P2P by Investing in the “P” and the “P”

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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December 10, 2019

Aligning Procurement to Serve and Empower the Business

Aligning Procurement to Serve and Empower the Business

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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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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