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A Corcentric Company.

November 21, 2019

How Automation Overcomes the Biggest Challenges in Payables

How Automation Overcomes the Biggest Challenges in Payables

Takeaways from the Levvel Research 2019 Payables Insight Report.

Inefficiency. It’s unnecessarily slow — a time waster that saps morale, dilutes resources and is really expensive. But if you’re using a sluggish, cumbersome, error-prone manual process for your payables instead of automation, you already all that, right? Continue Reading

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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August 22, 2019

How to Justify Spend Analysis When There’s No Clear ROI

How to Justify Spend Analysis When There’s No Clear ROI

I know we don’t have to preach to the choir. Procurement professionals are all aware of just how practical spend analysis is for them, but sometimes find it challenging to explain exactly why. Some expenses are simply hard to justify. Spend analysis is often seen only as an added value to the organization, rather than an essential piece to uncovering hidden value opportunities. In an applicable paper, Spend Matters suggests 10 ways to justify the expense for spend analysis to the financial decision-makers at your company. Here are some key takeaways…

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June 13, 2019

Closing the Loop: 4 Best Practices for Budget Management

Closing the Loop: 4 Best Practices for Budget Management

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 place to achieve them. Here are four best practices to get closer to that goal.

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October 5, 2017

Millennials and technology: Get Ready for a Revolution in Procurement Solutions.

Millennials and technology: Get Ready for a Revolution in Procurement Solutions.

Background: Salons Solutions is the premiere event in Europe for all things related to the fields of digital transformation, Big Data, e-procurement and e-business in general – more than 6,000 visitors attended in 2016. As a major presenter hosting six roundtable discussions, Determine covered many topics of critical interest regarding source-to-pay. While I did not present all of these topics, I thought it would be informative to put them into a series of blogs, which we are sharing this week.

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September 7, 2017

The evolution of the legal profession: From legal expert to business partner— A French Perspective

The evolution of the legal profession: From legal expert to business partner— A French Perspective

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.

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September 5, 2017

Ensuring Budget Alignment with Enterprise Objectives

Ensuring Budget Alignment with Enterprise Objectives

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

August 15, 2017

Budget Management: From procurement savings to bottom-line impact.

Budget Management: From procurement savings to bottom-line impact.

During my family summer holiday trip to San Diego I was confronted with the notion of budget management front and center. To get around during our trip, I rented a mid-sized sedan, but upon arriving at the rental car center I soon realized we had an extra piece of luggage that would not fit in the car. The rental car agent gave me the option of either upgrading to a luxury SUV, which would double the cost of the rental, or wait for a less costly SUV rental that would not be available until later in the day.

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April 25, 2017

April Determinews: What’s trending now in source to pay and contract management

April Determinews: What’s trending now in source to pay and contract management

By coincidence (or not), today is the birthday of Samuel Morse, inventor of the telegraph – arguably the first email. Considering the continual rise in speed, quantity and complexity of data communications today, it’s worth remembering that to some degree, he started all this. Of course, being that humans can never leave well enough alone, we’re still tweaking, refining and trying to perfect source-to-pay and contract management technology that enables people to communicate and collaborate better.

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