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July 31, 2018

July DetermiNews: A Review of the Month in Source to Pay and Contract Management

July DetermiNews: A Review of the Month in Source to Pay and Contract Management

Depending on who you ask, France was either a shoe-in or a long-shot to win the World Cup this month in Russia. Why they won is very well explained by this paraphrased excerpt from the New York Times:

(The team) will be remembered for what it was: a team of exceptional talent and ruthless efficiency, a group in which every player knew his job and performed it flawlessly. All that it achieved — through diligent planning, hard work, relentless discipline — was remarkable; a team of top-class talents willing to sublimate their individual games to a collective mission.”

It also sounds very much like a description of a world-class procurement organization.

CPO Rising 2018: The Age of Intelligence

This month we learned a ton about how top procurement teams perform during our four-part blog and download series featuring the new CPO Rising 2018: The Age of Intelligence report. The report’s author, Ardent Partners founder Andrew Bartolini, added his insights to Chapters One and Four, Julien Nadaud, Determine’s Chief Product Officer covered Chapter Two, and Kelly Barner of Buyers Meeting Point brought her signature twist (Is Spend Under Management a “has-been?”) to Chapter three. The report itself is a must-read, but seeing it from the perspective of these three industry veterans adds a lot of dimension. Don’t forget to download your complete report (for a little light reading at the beach).

Speaking of high-performing source-to-pay, Amee Foss, National Director of Procurement and Plant Operations at Watermark Retirement Communities, explained her strategy for choosing modular solutions on a cloud platform in an interview with Supply Chain World. As she details, the need for complete contract visibility and control was the impetus, but recognizing the need for a single source of validated data to feed those contracts across the enterprise is what made the modular choice imperative.

In fact, contract management was an important topic this month in general. We delved into it concerning supplier management and contracts as “relationship management” tools. As third-party suppliers, vendors and other contractors play an increasingly important role for many companies, the expectations placed on those “most trusted vendors” demands super tight contract control. From an enterprise perspective, it’s even more critical to ensure different departments, offices, divisions and such are all compliant and tapping the same contract ecosystem.

This is especially true for sales organizations with people across geographies and always on the move. That’s why we’re introducing our Determine CLM Salesforce App. It allows teams to create contracts directly from Salesforce opportunities and seamlessly integrates with approvers and users on Determine Contract Management so contracts are compliant from the get go. That’s why we say, buy-side or sell-side, Determine is on your side.


 

CPO Rising 2018: The State of the CPO

Mind Share

Leading CPOs on global challenges and future plans. Read On >>

CPO Rising 2018: The State of Procurement

Collective Wisdom

A platform ecosystem means smarter data. Read On >>

Blog - CPO Rising 2018 Chapter 3 - Procurement Performance

Spent Management

Does procurement need some new KPIs? Read On >>

Blog - CPO Rising 2018 chapter four - strategies for success

Top Tips

Procurement performance enhancers. Read On >>

Watermark Retirement Communities blog - modular source to pay

Building Blocks

What you need, when you need it. Read On >>

blog - clm or eclm that is still the question

E Contracts

How big is your CLM strategy? Read On >>

Blog - Supplier management IS contract management

Get Along

Good contracts make good relationships. Read On >>

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