Procurement is going digital at an accelerating rate, and this transformation is critical for every organization – public and private. Not just for staying competitive and relevant, but for increasing the c-suite-level influence that is so crucial to driving enterprise strategy.
From the CFO perspective: A look back at September resources.
DetermiNews this month was all about looking at source-to-pay, procure-to-pay, sourcing and contract management from the unique vantage point of the CFO. Finance is integral to every area of an organization, and that gives the CFO and financial teams a birds-eye view of everything going on at all times. No wonder the role is changing, with an increasing share of responsibility, added reporting structures and influence.
Putting S2P, CLM, procurement, sourcing and spend into perspective.
Another Labor Day, another DetermiNews. Which means, while you’re gearing up to drive your organization’s goals in the months ahead, take a look back at the month gone by for ways to help you do that. A common theme across resources in August is how source-to-pay – S2P – and contract management are dynamic processes that are designed to both help organizations meet their current challenges, but also empower them to reevaluate how much more they can achieve. Consider this your back-to-school reading assignment.
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. [inlinetweet prefix=”” tweeter=”” suffix=”#ECLM”]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[/inlinetweet].
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, [inlinetweet prefix=”” tweeter=”” suffix=”#ContractManagement”]when it comes to contracts you have to think about the enterprise even if you are starting with just one department or office[/inlinetweet].