The Determine
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A Corcentric Company.

April 22, 2020

Planning for Procurement Transformation, Post COVID-19

Planning for Procurement Transformation, Post COVID-19

Business disruption might delay procurement transformation, but shouldn’t derail it.

Up until very recently, when the current COVID-19 crisis became the dominant force in global affairs and business, organizations throughout the world were focusing on business transformation, including procurement. This overarching term for how a business organization runs actually results in transformation in every department and function of the organization. Now businesses are focused on facing the greatest threat many of them have ever faced.

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April 15, 2020

Managing Procurement Risk in Highly Regulated Sectors

Managing Procurement Risk in Highly Regulated Sectors

For businesses in highly-regulated industries, compliance, transparency and risk management are mission critical. Especially now.

The list of industries that are becoming more regulated are growing by the year. On top of the more traditional industries like healthcare, banking, and manufacturing, we are seeing e-commerce and data processing companies have to tighten up how they do business. As our report with Supply Management Insider illustrates, all of these point to a need for greater visibility and control into your company’s procurement operations. Something that’s especially true — and potentially more difficult — during periods of severe business disruption. Continue Reading

April 8, 2020

Navigating Business During Disruption

Navigating Business During Disruption

Lessons organizations can use to ensure viability, continuity and resilience.

Our webinar, Navigating Business During Disruption—Source-to-Pay, explored how the Covid-19 pandemic, while still raging around the world, has already invariably altered how organizations approach their business continuity plans. Sometimes it takes a crisis to bring out the best in people, and as we’re learning from our customers and prospects, to galvanize senior leadership and their teams into taking the strategic initiative to make companies more agile and better prepared to weather these extreme events for the long term. Here are some takeaways from the webinar.

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March 26, 2020

Man, Moment, Machine: CLM Technology Enters Its Third Decade

Man, Moment, Machine: CLM Technology Enters Its Third Decade

Considering the challenges facing modern business, CLM continues to increase in importance across the wider enterprise.

Contract management technology may very well be the unsung hero of the procurement technology landscape. It has been steadily improving for two decades, from straight document storage, to metadata and redlining, to today’s full enterprise contract lifecycle management (CLM) solutions. Let’s see what’s ahead for CLM.

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March 19, 2020

A Closer Look at the IACCM Third-Party Risk Management Report

A Closer Look at the IACCM Third-Party Risk Management Report

The challenges and solutions of effective TPRM.

Organizations today and in the future will have to gain more visibility into their supplier information. Data is coming from everywhere – spend, supplier contracts, and other third-party information – and it can overwhelm procurement departments. Part of building a third party risk management strategy (TPRM) includes gaining visibility into where the risk is coming from, and building a strategy to help mitigate it.

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March 12, 2020

How to Maximize Value from S2C Solutions – Part 2

How to Maximize Value from S2C Solutions – Part 2

Optimizing source-to-contract means focusing on wider business needs.

In Part 1 of this two-part blog we addressed the initial approach of S2C. Our viewpoint is, that while S2C is often focused on procurement as the primary users of the technology, decisions around adopting the components — such as sourcing, contract management and supplier management — need to accommodate implementing capabilities with the wider business needs in mind. Continue Reading

March 5, 2020

How to Maximize Value from S2C Solutions – Part 1

How to Maximize Value from S2C Solutions – Part 1

To be effective at source-to-contract (S2C), procurement organizations must be able to properly align data and processes with automation.

Often referred to as upstream procurement, “source-to-contract” defines the approaches for how to connect the efforts related to spend analysis, sourcing, contract management and supplier management. At its most basic, these processes encompass all the pre-requisites necessary for procurement to understand and optimize how an organization acquires the goods and services needed to run the business.

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February 27, 2020

A CLM Checklist for High-Growth Companies

A CLM Checklist for High-Growth Companies

Growing fast is not the time to outgrow your contracts.

Most of the time when I read an article, blog, newsletter or what-have-you on the subject of fast-growing companies — entrepreneurial or otherwise — the lists of challenges and issues they face and what to focus on are all generally the same: Cash flow, HR, communication, management vision, etc. Very rarely, if ever, does one of those lists mention contracts or CLM. Now that’s an issue. Continue Reading

February 20, 2020

Agile Contract Governance: Addressing the Major Challenges with Technology, Part 2

Agile Contract Governance: Addressing the Major Challenges with Technology, Part 2

How can Agile Contract Governance challenges be more effectively addressed?

In Part 1 of this 2-part blog, we outlined the challenges faced by different stakeholders across the contract spectrum, setting up the need for a holistic approach to data and information management as a prerequisite for agile contract governance. The blog ended with an overview of existing solutions — and their drawbacks. What follows is a look at how leveraging a truly agile CLM solution can result in wide-ranging and lasting business impacts.

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