Decision-Achats is the major procurement and source-to-pay industry publication in France, and one that we reference regularly since Determine has such a significant French component. Recently, Decision-Achats conducted a survey related to inventorying the tools and solutions that procurement professionals are using, and their experience and attitudes of them. One of the most important results to appear is the call for more personalization – configurability, in other words. People want tools that work the way they do, especially millennials.
If you’re anything like me as a procurement practitioner, you think of our end-to-end process in a linear fashion. It usually starts with spend analysis or some other source of information (budget, ERP, BI system output, etc.) and ends with Contract Management and/or Supplier Performance Management. For us, this is completely logical because the sub-processes that we view as the most “active” portions of procurement – strategic sourcing and negotiation – have been dealt with at this point.
Background: Salon Solutions is the premiere event in Europe for all things related to the fields of digital transformation, Big Data, e-procurement and e-business in general – more than 6,000 visitors attended in 2016. As a major presenter hosting six roundtable discussions, Determine covered many topics of critical interest regarding source-to-pay. While I did not present all of these topics, I thought it would be informative to put them into a series of blogs, which we are sharing this week.
In Part 1 of this series, I voluntarily limited myself to discussing the Procure-to-Pay process in the context of digital transformation without going into Contract Management, Supplier Performance and Information Management, and the Strategic or Operational Sourcing process. In this part, let’s take a quick look at how those factor into a successful digital transformation.
The digital dream: the belief that transforming the front office (also called the customer experience) will lead to success while overlooking back-office transformation will only help to hit the wall faster.”
– Bertrand Duperrin
When it comes to digital transformation, integrating core enterprise workflows— including invoice files, commitment control, solution implementation, and suppliers and other operational players—can be the difference between ‘check the box’ success and having a substantial impact on your ROI.
The podcast series that’s all about minding your business in contract management and source to pay.
As a prelude to Determine’s webinar with Spend Matters on aligning Procurement and Finance, I decided to get an insider’s perspective from our own Chief Financial Officer, John Nolan. In this episode of our podcast, my conversation with John explored his experience around aligning finance with procurement and other departments, as well. Given his varied background in companies of all sizes, public and private, his perspective is invaluable as Determine works to help our own customers get aligned.