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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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 2, 2019

Congratulations! You are ready for procure-to-pay!

Congratulations! You are ready for procure-to-pay!

Introducing the Determine P2P Starter Kit, Part One: The P2P 101 Guide

It is amazing what procurement professionals can accomplish with nothing more than spreadsheets, email and a phone. We can source, manage suppliers, track spend and report savings. In fact, we are so resourceful and so good at cobbling together solutions that we often stay with that approach longer than we should – especially considering how much is at stake for the company and its customers. The challenge for procurement is knowing when the time is right to make the switch to a procure-to-pay (P2P) platform .

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June 25, 2019

Investing in Corporate Governance to Ensure Compliance

Investing in Corporate Governance to Ensure Compliance

Three best practices you can use right now.

Procurement often uses the terms governance and compliance to describe the “law and order” part of our responsibilities. Governance establishes the rules for enterprise purchasing and spend management, while compliance measures how well distributed buyers adhere to those rules. In a perfect world, proper governance would lead to consistent compliance. In the real world, there is often only a loose connection between the two.

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June 11, 2019

AI and Blockchain Can’t Replace Strong Procurement Fundamentals

AI and Blockchain Can’t Replace Strong Procurement Fundamentals

Determine OutLoud: A conversation with Anthony Mignogna, Director at Source One, a Corcentric company.

Attend any procurement conference, read any procurement blog, download any procurement whitepaper these days and what are you likely to see and hear? AI! Blockchain! Machine learning! Chatbots! Emerging technology is undoubtedly exciting, and it is no wonder that it captures our attention and imagination. But does it have any actionable value for the majority of procurement organizations today?

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