In my previous post, I defined seven of the most common procurement technology terms: cloud, platform, digital, solution, point solution, suite, and legacy system/solution/suite. They are commonly misused or misinterpreted, a fact that (while completely understandable) makes it difficult to have clear conversations about the differences and benefits of available procurement technology.
Procurement technology has changed a lot over the last few decades. The terminology we use to describe the technology we have today versus the technology we want/need in the future, or are reading about in industry literature, has changed as well. Unfortunately, even the most common terms in our field are used to imply a variety of applications and functionality, but often with no clear definition.
Procurement teams facing the constant challenge of measuring and enforcing contract compliance may shudder at the thought that December 15th was National Herding Cats Day. We put a contract in place, and they buy from someone else. We establish a process, and they do whatever they like. It can be infuriating. But, if we approach our internal “cats” with the right attitude, they also present us with unique opportunities to improve procurement’s performance, impact, and influence.
Here is some advice for those days when you find yourself herding cats:
Before you head off to enjoy the holidays, here’s wishing you a joyous season and a fantastic New Year.
I want to thank you for your interest in Determine. We had an awesome 2016, shaking up the procurement and contract management world with some of the most disruptive technology ever in the space:
A recent stat quoted in a CPO Rising guide titled “The Trends (and Benefits) of Cloud-Based Technology Adoption: CPOs Take Notice” is telling: cloud platform adoption has grown by 37.5% over the past few years, up over 14% between 2014 and 2015 alone.
Chief Procurement Officers love ‘going to the cloud’ because it allows them to focus on what is most important to them: automating and repeating processes, scaling resources, and driving greater value through greater volume.”
— CPO Rising