With the release of the new name, Determine demonstrates that our unity is not just marketing. The strength of the Determine platform is based on source to pay experience and forward thinking design. In fact our differentiators could be thought of as two pillars, where the first pillar is depth of our capability based on experience in design.
Depth of Source to Pay Experience
Our depth of source to pay experience in strategic sourcing means that our solution has executed 100,000s of auctions and RFx projects. It means that the technology has gone through 11 major releases, with the last two delivering on Gartner’s definition of ideal strategic sourcing application suites today, by seamlessly unifying the concept of spend analysis, supplier management with eSourcing processes.
Our depth of source to pay experience in Contract Management means being able to support “end-to-end” contracting processes across all contracting types such as source to pay linking the rest of the enterprise together. This translates to managing complex processes for business functions and specializations including Procurement, HR, Sales, Real estate, and all other contract types.
This also means being a solution that works for the General Counsel / Legal in collaborating with the rest of the organization by supporting the language negotiation process for meeting today’s requirements of governance, risk and compliance.
Finally, depth of experience in P2P means being able to serve two business areas equally and successfully – those being procurement and finance. Procurement is concerned with spend compliance and ensuring that hard fought savings are built into contracts are utilized and maximized. To achieve this, a state of the art, consumer like, shopping experience is needed.
Furthermore a sophisticated procurement routing and approval system must also align with the organization for easing the management of payments. For Finance, the PO is just the start. Having the ability to manage against budgets real time, and automatically process invoices aligned with real-world nuances of a global enterprise are essential.
But that is not enough to have these experience areas on their own. Managing the complexities of the modern enterprise requires a new context where organizations can become more “software driven”, by looking for their technology to be smart, working in unison within the enterprise, and to ultimately have technology provide a strategic advantage by using one solution to assist in the aggregation of their strategic processes.
In part three we look at the second pillar of differentiation for Determine, which could be summarized by our modern platform approach.
* Join our webinar featuring Prashant Dubey, president and CEO of The Sumati Group, and Dan O’Connor, Corporate Counsel at Kellogg Company, about the growing importance of contract management as a critical business tool across enterprises. Learn how the complexity and reliance on supply relationships has elevated the importance of contracting and creates the need for a shared vision and collaboration between Procurement and Legal departments.