From the CFO perspective: A look back at September resources.
DetermiNews this month was all about looking at source-to-pay, procure-to-pay, sourcing and contract management from the unique vantage point of the CFO. Finance is integral to every area of an organization, and that gives the CFO and financial teams a birds-eye view of everything going on at all times. No wonder the role is changing, with an increasing share of responsibility, added reporting structures and influence.
The CFO / CPO Agenda: Beyond cost reductions, increased efficiency, and data visibility.
As CFOs and CPOs are tasked with greater responsibility over a host of issues, there are four major industry themes that will likely be top-of-mind for them, this year and into the future. Although cost reductions, increases in efficiency, and visibility into valuable data are still incredibly important to the C-suite, as well as to the organization’s bottom line, there are other strategic challenges that need to be addressed.
Putting S2P, CLM, procurement, sourcing and spend into perspective.
Another Labor Day, another DetermiNews. Which means, while you’re gearing up to drive your organization’s goals in the months ahead, take a look back at the month gone by for ways to help you do that. A common theme across resources in August is how source-to-pay – S2P – and contract management are dynamic processes that are designed to both help organizations meet their current challenges, but also empower them to reevaluate how much more they can achieve. Consider this your back-to-school reading assignment.
The digital transformation is well underway, making the investment into modern technology a necessary ascension for organizations with a hankering for longevity. The source-to-pay landscape is no exception. If we look at Sourcing (a stepping stone in upstream procurement) in particular, automating its processes can improve savings identification, increase collaboration, build stronger supplier relationships and align supplier, corporate and financial goals.
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.
Determine OutLoud: A conversation with Sophie Pope, Director of Customer Success at Determine
In a recent webinar, Sophie Pope and Ollie Young, a Senior Solutions Engineer at Determine, addressed The 5 Ways a S2P Platform Helps Create More Value for Your Organization. They discussed the differences between source-to-pay point solutions, platforms, and what they called ‘Frankenstein’ platforms. Yikes!
“What we have here is failure to communicate.”
Movie lines become legendary, and ingrained in our cultural makeup for many reasons. In the example above, it’s because it represents an all-too-common life experience and because what it describes is so pervasive. The same is true in source-to-pay organizations, where silos are as much about communication failure as anything else.