Procurement was center stage again this month (fitting, in terms of it being a summer of trade uncertainty). We covered the discipline from a number of different angles, from taxes to tactics. But in looking back, one thought from Andrew Bartolini, founder of Ardent Partners, stood out as particularly relevant to how procurement as a whole is developing: “While intelligence is critical, a precise measure of procurement intelligence is less important than the performance it generates. In point of fact, as a department (and the entire profession) matures, the definition of procurement intelligence becomes a moving target; and it becomes relative to nearly all stakeholders in the source-to-settle spectrum.”
As a follow-up to his CPO Rising 2018: The Age of Intelligence report, Andrew delved into exactly what “procurement intelligence” means, and how to put it to work. At the end of the day, it all comes down to effectiveness and sustainable performance — which are, not coincidentally, hallmarks of agility.
The pursuit of agility showed up again in the new PayStream Advisors 2018 Procurement Insight Report. Digging through it, Kelly Barner of Buyers Meeting Point found an interesting perspective (of course). She posits that instead of getting on the agile bandwagon for its own sake, procurement should demonstrate a true ability to be strategic by making real, measurable improvements. In other words, be agile by doing agile.
One way to do that is by simplifying how tax management is incorporated into the procurement process, a topic covered in detail by Determine Chief Product Officer Julien Nadaud. If procurement will be forever focused on savings, then having a technology solution that integrates robust tax management for different tax jurisdictions globally is a powerful way to do that. By simplifying the complexity through automation and data integration, procurement can also drive significant resource savings and improve cash flow.
By delivering advanced solution features like that, Determine again landed as a Value and Customer Leader on the Spend Matters SolutionMap for E-Procurement Q2 2018. Be sure to download it, as well as the PayStream Advisors and Ardent Partners reports, to see how to hone your roadmap to procurement intelligence and agility.
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Evading the strategy trap in pursing agility. Read On >>
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