In the first of our four-part blog series for the release of CPO Rising 2018: The Age of Intelligence, Andrew Bartolini of Ardent Partners introduced the State of the CPO. In Chapter 2, Julien Nadaud, Chief Product Officer at Determine explores the State of Procurement, and how data intelligence is shaping the future through a connected cloud ecosystem.
One of the continuing questions in our industry is whether an organization should be considering contract lifecycle management or enterprise contract lifecycle management. It really isn’t one product versus another, because it’s not about the solution, but the strategy behind your contract requirements. As we always stress, when it comes to contracts you have to think about the enterprise even if you are starting with just one department or office .
CPO Rising 2018: The Age of Intelligence
Chapter 1 — The State of the CPO
To kick off our four-part blog series in conjunction with the release of CPO Rising 2018: The Age of Intelligence, we examine each chapter of the benchmark report individually and offer it for download. To introduce chapter one who better than Andrew Bartolini, Founder and Chief Research Officer of Ardent Partners and the architect of CPO Rising. Andrew will provide his insights and background on The State of the CPO based on the survey findings of 324 global CPOs.
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.
Agile, strategic and goal driven: the traits of a champion.
Digital transformation – or digitization – is a major technological and strategic challenge for procurement departments, involving a global overhaul of the organization. Collaboration with internal stakeholders, management of supplier networks, alignment of business processes, etc. — procurement is rapidly changing to take on these challenges. Business driver, value-add generator, strategic powerhouse; how did procurement become the captain of digital transformation?
From process “black hole” to complete visibility, traceability and control.
At Determine, we are obviously (and justifiably) biased toward a source-to-pay and contract management cloud platform approach that is based on modular, implement-as-you-need solutions. The model makes perfect sense from every logic perspective. That’s why, when a customer like Amee Foss, National Director of Procurement and Plant Operations at Watermark Retirement Communities comes to the same realization, her story makes a much more powerful case than we can make. And she tells it beautifully in this interview in Supply Chain World.