Double the velocity, square the momentum.
If you remember your high school physics, this formula perfectly describes how Determine is barreling into 2018 with the sustained impact of continuous — and growing — customer success on the Determine Cloud Platform. Thanks to our rapidly ballooning base of new customers across many varied industries, we’re in a great position to capitalize on our strategy and vision in the fiscal quarters ahead.
“Impact” is the operative word for the coming year. We are creating it at every level of every aspect of our business.
More customers than ever are moving on to the Determine Cloud Platform at an accelerating pace. The reason why is about those companies and stakeholders going beyond the results they set out to achieve. The original goals may have been to get more savings or increase contract visibility or enhance supplier relationships, but those results were almost side effects of something bigger and unexpected: achieving Process Under Management.
This impact, a phenomena we dubbed Platformance, is more than just technology. It’s the way we help customers work smarter by getting all people, processes and data in perfect alignment. That level of interconnectedness is causing many prospects we meet to revise how they are looking at procurement, contract management, analytics and other solutions in the market. As more customers achieve Platformance, more companies are asking us how to get it.
There was an inordinate amount of shifting and movement in the source-to-pay industry in 2017, a lot of it late in the year, and a lot of it still shaking out. The concept of “go big or go home” seems to have taken hold in a big way. This has an element of trying to appear larger, to be seen offering an end-to-end S2P product in order to sell all-or-none suites to the biggest prospects. While a “buy it don’t build it“ strategy is seemingly the fastest way to get there, there are two significant consequences: cobbled-together, disparate legacy systems masquerading as “platforms”; and a huge range of companies whose needs aren’t being met.
Determine is impacting the industry by being able to meet the needs of the entire market, providing a truly connected, customer-centric experience that scales to business requirements. As the one true modular-based cloud platform, our appeal is obvious: Customers at every level have the same challenges and work in the same regulatory environments as Fortune 100 companies, but solving for them requires a unique skill set and experience. Our modular solutions enable customers to gain high impact with low risk: prioritize requirements, implement quickly, achieve ROI faster and then add on new solutions one or two at a time. It’s all pre-integrated, user-configurable, instantly usable and totally collaborative to empower decisions.
In mid-2017 Determine hosted a webinar on Services Procurement. We found it an interesting topic and worth sharing our experience because we’ve been doing it so long. Turns out, it’s one of our most popular areas of expertise that customers and prospects continue to be interested in. Probably because what others simply call “contingent labor” is really a much bigger and more important category than just that. Customers are realizing that there is major strategic and financial advantage to having Services Procurement managed under a formalized process — and almost no one else can provide it at the scale we do.
Our impact is also being felt in continuing innovation. We are also ramping up the implementation of our predictive analyses, allowing us to create complex scenarios that anticipate and estimate the likelihood of events occurring. Recommendation engines – prescriptive analysis – then push suggested steps to users following a number of configurable rules. Customers are also leveraging Project Management, which enables users to organize work as an internal project, assign roles and rights, and link all Determine Cloud Platform features to the project — all documents and processes. To simplify this complex project, we are also further refining our robotic task automation, adding rules that allow decisions to be made almost automatically. This saves the project significant time and lightens the workloads of teams who can now focus on tasks that add greater value.
And speaking of making work faster and easier, no discussion of Source-to-Pay would be complete without touching on Artificial Intelligence, and our defining role in it. Determine is honing real-time collaboration via chat connected to AI to create a voice-activated user interface. Requisition? Just ask. Create a contract? Speak up. We’re also integrating better automatic spend analysis classification and contract analysis using machine learning technology.
And all that is just for starters, so watch this space in the quarters ahead.
While it is only a week into January, the year will move fast and so will we. Determine will strengthen its impact in all the areas we touch by putting customer needs above all, focusing our business strategy on always helping them improve processes, possibilities and bottom-line results.