The Determine
Blog
A Corcentric Company.

June 17, 2020

Why Spend Analysis?

Why Spend Analysis?

A Conversation with Diego De La Garza, Senior Director of Global Services and Delivery at Corcentric

Spend analysis is probably the closest thing procurement has to ‘an oldie but a goodie.’ It has been the basis of our sourcing and spend management activities for as long as most of us can remember. But can a historical record of purchase transactions provide the basis for strategic procurement in the age of digital transformation, automation, and real-time insights?

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April 29, 2020

The Importance of Digitization to a Remote Workforce

The Importance of Digitization to a Remote Workforce

A Conversation with Dan Andrew, Senior Vice President of Sales at Corcentric

While many finance executives are slashing costs to weather the downturn, some view investments in technology as essential to better equip newly remote finance teams or strengthen other parts of the business.”

— Mark Maurer, CFOs Look to Ramp Up Automation Investments Amid Pandemic, Wall Street Journal: April 8, 2020

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March 26, 2020

Man, Moment, Machine: CLM Technology Enters Its Third Decade

Man, Moment, Machine: CLM Technology Enters Its Third Decade

Considering the challenges facing modern business, CLM continues to increase in importance across the wider enterprise.

Contract management technology may very well be the unsung hero of the procurement technology landscape. It has been steadily improving for two decades, from straight document storage, to metadata and redlining, to today’s full enterprise contract lifecycle management (CLM) solutions. Let’s see what’s ahead for CLM.

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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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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 2, 2019

Transformational ROI: Why Your Suppliers Should Embrace E-invoicing

Transformational ROI: Why Your Suppliers Should Embrace E-invoicing

Conversation with Reginald Peterson, Director of Supply Management Programs at Corcentric.

If you have been working under the assumption that digital transformation will solve all of your problems and catapult your company into leadership status, consider this: an email with an invoice attached to it is “digital.” That invoice still has to be manually sent, received and entered into another system for approval and payment. Despite being digital, this invoicing process is labor intensive, risky and inefficient. Hardly transformative, is it?

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September 17, 2019

The Evolution of Finance and the CFO, Part 1

The Evolution of Finance and the CFO, Part 1

Determine OutLoud: A two-part conversation with Mark Joyce, EVP and CFO of Corcentric.

In a recently released article and podcast about the evolving role of the CFO, McKinsey & Co. partner Ankur Agrawal and consultant Priyanka Prakash shine an interesting light on enterprise-wide change management in the digital age — from the perspective of finance. Of particular note are the number and range of corporate functions reporting into finance today, and how that shifting scope of responsibilities can stress a CFO’s bandwidth while also increasing their net impact.

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August 13, 2019

With Implementations, it is Location, Location, Location.

With Implementations, it is Location, Location, Location.

An Outsider’s Perspective on Implementing Technology.

I’ve participated in many procurement technology implementations – and not always in the same role. Like most people, my experience began on the receiving end of new technology for which I had no say in the selection or configuration. From there I moved to a leadership role on a team tasked with selecting and implementing a sourcing suite for the first time. A few years later, I was part of a consulting team at a solution provider where I regularly assisted in or led implementations as part of procurement program (re)design projects.

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July 11, 2019

Zoinks! Why do Cloud myths persist?

Zoinks! Why do Cloud myths persist?

The Determine P2P Starter Kit, Part Two: Taking the mystery out of cloud procure-to-pay.

I recently completed a thorough study of myths by examining one of the most scientifically significant examples available — Scooby-Doo and the gang: Fred, Daphne, Velma, and Shaggy. You may laugh, but studying the adventures of Mystery, Inc. sheds a great deal of light on all kinds of myths, cloud procure-to-pay (P2P) included.

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