The definition of spend management seems to be fairly obvious ⎼ it’s the management of enterprise spend, right? On the contrary, the practice of spend management involves more than just the simple tracking and monitoring of how much money is going out of an organization. Much more.
“You don’t have to do anything but die.”
This rather blunt, but deceptively motivational statement was a frequent response from my high school coach whenever we felt too apathetic towards some practice drills or other. Do we we have to do sprints in the rain? Do we have to come in on Saturday? Do we have to… etc, etc. It was an effective motivator because the underlying message touched a competitive nerve: No, you don’t have to do anything, as long as you’re okay with failing miserably in front of a crowd of friends, parents, spectators and the opposing team. As a change management strategy, it turned a bunch of talented-but-unmotivated athletes into a winning team. Clever man, our coach.
Top Ten collations and compilations are a staple at this time of year — after all, who doesn’t like lists? It gives you a chance to catch up on what you missed, or review the resources you found most useful. For us at Determine, it’s another opportunity to review what’s resonating with you – the topics and formats that stood out most. From Services Procurement to CPO Rising and the emergence of the Millennial VP, one thing is very clear: you have very eclectic tastes.
If you search online for “agility and adaptability,” (or, like in our last blog, ask Alexa), chances are the links shown will be a menu of education, supply chain and leadership topics. Which works perfectly to summarize what we covered this month: Agility is the ability and willingness to learn from experience and apply that to perform successfully in new situations; Adaptability is to embrace change. We strive for both every day with Cloud Platform Agility, and help our customers do the same.
Business is evolving in a volatile legal context: regulations are changing and becoming tougher. The notion of “conformity” and “compliance” have never been so prevalent. During the 7th annual Journée du Management Juridique (Legal Management Day) in Paris this past June, Mr. Philippe Ginestié evoked a time when a supplier’s word and handshake were enough to constitute a contract.
But that time has passed.
As we enter Q3, many companies are beginning next year’s budget setting process. Establishing a new budget creates opportunities for big thinking, goal setting, forecasting and growth planning. In order to secure approval, however, each budget owner must demonstrate budget alignment between their funding requests and overall enterprise objectives. Continue Reading
Recently we explored the inconsistent interpretations surrounding what constitutes a platform v. suite v. disparate collection of point solutions. Lately, we’ve heard a little bit of the same term-swapping between business process and workflow.
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 […]
The definition of spend management seems to be fairly obvious ⎼ it’s the management of enterprise spend, right? On the contrary, the practice of spend management involves more than just the simple tracking and monitoring of how much money is going out of an organization. Much more.
Give your organization a clear, consistent process for optimizing contract management. According to the IACCM (International Association of Contract & Commercial Management), two-thirds of participants at their conference a few years ago admitted that their companies lack a clear, consistent workflow for contracting. Some had no formal definition, while others had wide variations between countries […]
Empower managers with process improvements. Depending on where you sit in a company, budgets are either essential guardrails for organizational efficiency, an inescapable fact of life, a necessary evil, or just evil. Overhead cost control, compliance, data quality — they are on every organization’s budget management agenda, yet few have the processes and solutions in […]
