Purchasing at the best price, at the optimum time, from the right supplier. Automatically. That, in a nutshell, is what is driving the wholesale embrace of Big Data by procurement professionals and organizations, according to Mathieu Neu, writing in French industry publication Decision-Achats.
These are exciting times for procurement professionals. But consistently, most procurement leaders feel they should be doing better. Unlike last year’s Ardent report on “The State of Strategic Sourcing,” respondents in 2015 see as obstacles technology systems and processes rather than staff or talent challenges. Moreover, they feel that they can drive improvements that propel procurement forward through effective use of collaboration and enabling technologies, something that best-in-class are doing better than their peers.
Strategic sourcing suites are widely used by many in procurement today. Recent research from Gartner notes that majorities of large U.S. and Western European-based companies have invested in one, and rarely buy an e-sourcing application by itself anymore.
To understand the trend in technology and how Determine is addressing it is by looking at this from the persona of the company. Organizations want to be smarter by being able to collaborate in new ways using a common platform approach. Taking this concept as part of adopting solutions is something Forrester Research has looked at around the concept of a smart process applications.
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.
Businesses today need to address the rising importance of innovation through experience. This applies not just to products, but to innovation in supply chains and business models, which are much harder to copy and to influence change.
Today, we’re very excited to unveil not just a new brand identity and a name, but a brand-new company. Determine, Inc.™ is the result of years of work and planning by many people sharing a singular view about how to best position ourselves and shape the company for the future. Now we’re ready for it, and I couldn’t be more proud.
Contracts are the instruments through which business relationships and commitments are defined and managed. Every year they grow more complex. In order to keep up, you need a CLM strategy to achieve visibility and control across all contracting processes.
The Finance team manages the finances of the enterprise. Marketing people market services and solutions to the purchaser (or customer). Human resources manages… well humans. And eProcurement?
It’s time to face the music; your outdated processes and technology are killing your business.
Successful businesses of the future must adopt and embrace change. For years now, as an analyst or consultant and a managing operator, I have been a catalyst for change within organizations. Today, cloud computing and certainly mobile and big data are changing the future of business. But more than that, the digital revolution has led to a wave of connected technologies and a culture of collaboration that is changing customer and employee expectations. Businesses need to evolve – holding onto old ways of doing things is simply dangerous.