We’ve all gotten so used to everything being “in the cloud” that many of us have stopped thinking about what it really means for enterprise business – and what it makes possible. I dug into the topic in a conversation with Tim Scott, a Business Consultant Manager at Determine, to follow up on some of the points raised in his recent webinar on sourcing and contract management with PayStream Advisors.
Procurement’s desire to be agile is as well-documented and frequently discussed as our interest in transformation. In both cases, however, we are at risk of falling into the ‘strategy trap’ – the lack of clarity, direction and actionability that accompany all things non-tactical.
Is Spend Under Management a “Has Been?”
In this, the third of our four-part blog series for the release of CPO Rising 2018: The Age of Intelligence, Kelly Barner of Buyers Meeting Point delves into the myriad facets of Procurement Performance in Chapter Three. There’s no debate that the importance and influence of procurement is on the rise across industries, but the question is, are procurement’s metrics – like spend under management – truly representative of those accomplishments?
Instead of “recycle, reuse, retread” let’s talk about a reboot.
Memorization is a frontage road: It runs parallel to the best parts of learning, never intersecting. It’s a detour around all the action, a way of knowing without learning, of answering without understanding.”
— Ben Orlin, “When Memorization Gets in the Way of Learning,” The Atlantic, 9 September 2013
Listening to your customers is about more than building relationships, providing great service and ensuring the path to success; the powerful voice of the customer can also reveal a lot of insight and wisdom.
Placing customer interests at the center of your strategic plan is wise, but that doesn’t necessarily make it easy. Meeting customer expectations requires a full understanding their needs – and that is not possible unless you have one or more dedicated people who truly want to hear from customers and work with them to advance their objectives. As I found out in my conversation with Rose Lee of Determine, that’s precisely what a Chief Customer Officer does. And a whole lot more.
Face it sourcing, CPOs just aren’t that into you.
Last week, the team from Ardent Partners shared the results of their research: CPO Rising 2018: The Age of Intelligence in a webinar with Determine. This year’s report includes input from 324 participants, 62% of which are Director level, VP level, or C-level. No one industry accounted for more than 13% of the research data, although approximately 70% of the responses were from large (>$1B) companies in North America.
Customer advocacy isn’t an event or a milestone: it is a natural progression that predates implementation.
Just weeks after joining the Determine team as their Senior Vice President of Customer Success, Kevin Turner was in attendance at the annual user group conference in Laguna Beach. Between meeting customers for the first time and hearing their feedback through presentations and informal exchanges, it was a critical and well timed opportunity to ensure that the Determine product roadmap is aligned with a broad range of definitions for customer success.
Make sure your procurement team is focused on the right eSourcing solution features.
In a recent blog post here on Determine, I shared my list of 10 questions I think every procurement team should ask at all solution provider demos. Some of them you’d probably expect, like questions about integration and the administration of configuration settings. Others you might not have thought of, for instance asking to what degree the company “takes their own medicine” by using the technology themselves.
Know what you need to know to empower your decision.
Attending an S2P demo can be a particularly high stress time for a procurement professional. We use this technology more than any other, to the point where its identity is synonymous with our own reputation internally. As a result, making the right choice is extremely important.
Late last month, Sean Delaney, Determine’s VP of Sales, and Mike Behne, VP of Professional Services, presented a webinar with IACCM on taking contract management “Beyond the Expected.” During that event, Sean and Mike discussed how real-life challenges morph into ideas and concepts for contract management innovations. One of the most important areas of focus for companies that want to manage uncertainty, mitigate risk and eliminate obstacles to competitiveness is implementation. After all, the success of any CLM implementation will play out over time in terms of adoption and value creation.