Until recently, when organizations and experts talked about disruption, they were usually referring to technology and business models that effectively disrupted traditional industries. We are now experiencing a totally different kind of disruption…the COVID-19 pandemic that is changing so much of the way we conduct business in the short-term in a remote way.
Optimizing source-to-contract means focusing on wider business needs.
In Part 1 of this two-part blog we addressed the initial approach of S2C. Our viewpoint is, that while S2C is often focused on procurement as the primary users of the technology, decisions around adopting the components — such as sourcing, contract management and supplier management — need to accommodate implementing capabilities with the wider business needs in mind. Continue Reading
To be effective at source-to-contract (S2C), procurement organizations must be able to properly align data and processes with automation.
Often referred to as upstream procurement, “source-to-contract” defines the approaches for how to connect the efforts related to spend analysis, sourcing, contract management and supplier management. At its most basic, these processes encompass all the pre-requisites necessary for procurement to understand and optimize how an organization acquires the goods and services needed to run the business.
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