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July 10, 2018

Supplier management IS contract management — and vice versa.

Supplier management IS contract management — and vice versa.

Good contracts make good relationships.

Interesting snippet from a Gallup article (undated) that I read recently: Gallup finds that customers increasingly expect suppliers to possess the deepest and timeliest information on their most important business issues. These include the economics of customers’ businesses, emerging challenges within customers’ industries and trends within a supplier’s customer portfolio . What’s interesting is that they refer to supplier/customer dynamics as “partnerships” instead of just “relationships.” Optimizing those partnerships requires integrated supplier management and contract management.

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May 8, 2018

Creating a Risk Firewall with SIM+CLM

Creating a Risk Firewall with SIM+CLM

3rd-party risk management starts before the onboarding process.

One of the things that stood out the most in our recent webinar with Ardent Partners, CPO Rising 2018: The Age of Intelligence, is the critical role that data intelligence needs to play across organizations. In fact, data visibility and improved analytics stands as one of the biggest strategic goals that CPOs see as holding the most potential to drive performance improvement . While CPO Rising 2018 focused more on leveraging data as a way to add value, when you’re talking about data visibility it’s hard not to think of the risk management potential it represents.

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March 8, 2018

As GDPR looms, here are 6 key facts to consider.

As GDPR looms, here are 6 key facts to consider.

Understanding compliance needs related to the General Data Protection Regulation.

Without fail, my inbox is filled every morning with news, updates, tips and dire predictions about GDPR (General Data Protection Regulation) and the coming impact on companies and their providers. GDPR is an urgent issue, for sure, but the constant barrage of information can be overwhelming. That’s why when I come across a source or article that brings clarity, it’s worth sharing.

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February 22, 2018

February DetermiNews: A Review of the Month in Source to Pay and Contract Management

February DetermiNews: A Review of the Month in Source to Pay and Contract Management

If February DetermiNews could be summed up in one word, it would be “contracts.” This month, starting with our IACCM webinar on January 31, looked at contracts and how to best manage them with technology, internal processes and C-Suite level strategic focus. Contracts represent relationships, revenue and risk to every organization. Making sure yours maximize the first two and mitigate the third is what Determine does for a growing number of leading companies across industry verticals.

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February 15, 2018

A Look at Supplier Risk in FinServ

A Look at Supplier Risk in FinServ

Financial Services (FinServ) organizations – banks, insurance companies, wealth management firm, wirehouses – are constantly trying to find a balance between regulatory mandates and expectations, and operational efficiency. Massive supplier data breaches seem like they have become an almost regular occurrence (when they’re reported), customer privacy and data laws are becoming more stringent (GDPR), and predatory behavior by suppliers and vendors is an ongoing issue. Certainly, the porous nature of globalization isn’t making things any easier. With all that to contend with, it’s critical to remember that you can pin the blame for risk on third parties, not the responsibility for it.

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February 13, 2018

Top 10 Tips for Winning Procurement Stakeholder Support

Top 10 Tips for Winning Procurement Stakeholder Support

How to make friends and influence outcomes

Procurement does not have an easy job. We function as the spending conscience of the enterprise. When a contract is going to be awarded, we make sure a careful selection process is followed and that every specification or requirement associated with additional cost earns its place. We ensure that incumbent suppliers deserve renewed business, and push all suppliers to perform their best on behalf of the company. As important as all those things are, it can often leave procurement looking like the “skunk at the garden party” from an internal procurement stakeholder perspective.

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