Platformance isn’t about technology, but about what success looks like. It’s peak efficiency through powerful business processes and a single source of data: everyone working in unison to achieve more, faster and more easily. Platformance is when all your spend is managed, contracts leveraged and risk controlled. It’s about starting with exactly what you need to solve your problems now, and easily adding on more features to solve challenges as they show up.
When I was invited to appear on Business Rockstars recently, the host, Mark Lack, asked me what I thought was the single most important piece of advice for entrepreneurs to achieve success. From my own experience as a business founder, owner and now as a source-to-pay and contract management corporate executive, what I tell entrepreneurs is, do your homework. It’s that simple.
Before you head off to enjoy the holidays, here’s wishing you a joyous season and a fantastic New Year.
I want to thank you for your interest in Determine. We had an awesome 2016, shaking up the procurement and contract management world with some of the most disruptive technology ever in the space:
With blogs, such as this, or any social media connection—email, text, online media in general—it seems that building relationships has become a lost art. However, I beg to differ and will explain.
Successful implementations that meet complex customer needs and deliver ROI begin with strong relationships.
We know that strong relationships are based on integrity, which takes time and effort to develop. But believe me, the ROI of integrity is real. From lower churn, more referral customers and loyal clients to shorter sales cycles, bigger deals, happier employees and more innovative solutions — investing in integrity is good for business. In fact, integrity is one of our core values at Determine.
All too often, evaluating procurement and legal departments’ technology are centered on solving a specific problem. Typically, they’re related to sourcing events, departmental contract management, supplier optimization or spend analytics. In order to maximize ROI, however, such technology implementations should be considered as part of a broader enterprise technology strategy. This would also help stakeholders across the organization develop and extend their strategic potential and business impact. In a recent conference in France, we saw many customers who have focused heavily on procure to pay or one specific area of procurement, but we heard that there’s a need for businesses to have better functionality and the capability to leverage technology that spans across departmental lines.