The Determine

Blog

A Corcentric Company.

Happy Holidays and Best Wishes for 2020!

Without a doubt, becoming part of Corcentric early in 2019 was the biggest thing that has happened to Determine since it was formed four years ago. Looking back on this momentous year and the changes it brought makes the prospect for the year ahead even more exciting in terms of product offerings, collaboration, process transformation and business improvement. Which, coincidentally, are the topics that make up our Best of 2019 Top 10 List of source-to-pay and contract management resources as defined by you.

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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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Three strategies for controlling indirect spend to boost working capital.

A recent whitepaper from Corcentric and CFO.com, The Impact of Indirect Spend on Working Capital, delved into the bottom-line consequences of uncontrolled company spend — what Corcentric terms dark purchasing, and is alternately called rogue, maverick and tail spend. The most startling fact, besides the enormous cost, is just how unprepared most companies are to deal with it on a strategic level. You need an enterprise approach, instead of just whacking those rogues when – and if – they pop up.

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“You must be able to combine a platform,
expertise and services.”

— Matt Clark, President and COO, Corcentric

The full version of this article appeared in La Lettre des Achats, a leading French procurement industry publication, written by François-Charles Rebeix and Guillaume Trécan. The original piece goes into some detail about where Corcentric has been, its recent acquisitions and the company’s vision for the future.

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You’ve heard the phrase “back to basics” countless times. And it’s an incredibly misleading message: That basics somehow equates with “regressing.” Nothing could be further from the truth. Honing your basic skills and knowledge is about improving, moving forward, excelling. Ask any top musician, athlete or craftsperson — basics make you better.

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The NBA finals are upon us. Is it luck? Or have the Raptors and the Warriors made it this far by building a framework for success; utilizing each player’s strengths and abilities to give them a competitive edge above the rest? We say it’s a framework for success – which is exactly what it takes for a supplier management strategy to work, too. From covering the basic fundamentals to ensuring you’re prepared for any and every potential supplier risk, maximizing the competitive advantage you can achieve with the right approach to supplier management helps the entire organization win.

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We don’t know about you, but when we think of April – we think Spring. The birds chirping, flowers blooming, green grass, incessant rain (yuck), and summer in our sights! Spring is a time for growth and for change; a beautiful transformation, if you will. This month’s resources stayed true to theme – focusing on the transformation and future of procurement, source-to-pay insights, and even our own evolution as Determine began its new chapter as a Corcentric company. DetermiNews gives you a jump start on spring cleaning your business processes for the sunny days ahead.

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Introducing… Determine, a Corcentric company.

Last week, Determine (yes, that’s us!) was officially acquired by Corcentric. Founded in 1998 and based out of Cherry Hill, New Jersey, Corcentric is a leader in procurement and finance solutions that strives to provide a competitive advantage to organizations, enabling them to reduce the cost of growth and, in turn, empowering them to do more for their customers, employees, and the world. Oh – and they have quite the track record, too. Continue Reading

Understandably, many people get caught up in all the madness that comes in March. We hope your brackets didn’t get too busted up. But whether your focus was on basketball or on driving your business success, you may have missed a few of our blogs and resources this month. DetermiNews is here to make it easy for you to get up to speed.

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Seems like a lot of February news got buried beneath the Polar Vortex (along with large portions of the US), but the two biggest stories to come out of Determine this month were the launch of our Contract Management App for Salesforce, and the announcement that the company has entered into an agreement to be acquired by Corcentric. Glad it’s the shortest month of the year.

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