The digital transformation is well underway, making the investment into modern technology a necessary ascension for organizations with a hankering for longevity. The source-to-pay landscape is no exception. If we look at Sourcing (a stepping stone in upstream procurement) in particular, automating its processes can improve savings identification, increase collaboration, build stronger supplier relationships and align supplier, corporate and financial goals.
Meeting supplier diversity objectives can help reach larger corporate objectives, too!
Supplier diversity was initially promoted as corporate stewardship for the disenfranchised. Today, it’s considered a competitive advantage. Changing work demographics and emerging markets compel businesses to invest in supplier diversity programs. Yet, most organizations are unable to measure and report on their efforts.
How supplier management is impacting organizations more than ever.
Organizations are starting to adopt a new attitude when it comes to their suppliers – treat them like customers. This seems basic, but the truth is, supplier management is evolving fast; it is critical not only to catch up but to get ahead of the curve.
Introducing… Determine, a Corcentric company.
Last week, Determine (yes, that’s us!) was officially acquired by Corcentric. Founded in 1998 and based out of Cherry Hill, New Jersey, Corcentric is a leader in procurement and finance solutions that strives to provide a competitive advantage to organizations, enabling them to reduce the cost of growth and, in turn, empowering them to do more for their customers, employees, and the world. Oh – and they have quite the track record, too. Continue Reading
Where Enterprise Contract Lifecycle Management makes all the difference.
The only thing changing faster than the technology, media, and telecommunications (TMT) industry are the regulations that govern it. As companies mature and further branch out in their offerings — technology companies producing media content, media companies acquiring technology — the legal ramifications are also growing more complex, complicated and specialized. The TMT industry is a high-stakes field with a wide array of major players; when there’s that much money, risk and opportunity in play, legal teams need the most sophisticated technology to stay ahead of the curve .
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 .
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?
8 interpretations of agile procurement.
When you work in a particular field or industry, the lexicon / jargon / shorthand speech that’s commonly used becomes an afterthought, even if you don’t always know the exact meaning. You just get used to using the words that everybody else uses. In source-to-pay, “agile” and “agility” are getting a lot of play right now. So, when someone at IACCM (The International Association for Contract and Commercial Management) recently asked us to clarify what does “agile procurement” really mean, I asked around.
How a low code platform solves business challenges better, faster and more easily.
Low code platforms are very hot nowadays. Forrester estimates the market to reach $15 billion by 2020, and cloud application leaders like Salesforce are massively investing in it. In fact, Outsystems, a low code platform provider, just raised $360M, probably because of their great position in the 2018 Gartner Magic Quadrant for Enterprise High-Productivity Application Platform as a Service. In essence, a low code platform lets you focus on solving problems instead of thinking about the technology.