The search for a P2P solution (purchase-to-pay) software can be daunting and, quite frankly, mind-boggling. Identifying a tool that best fits organizational business processes, user needs and the desires of stakeholders can be downright exhausting — especially if you’ve never implemented an outside solution before. Knowing some of the key features and benefits to look for in a worthy P2P solution will help make the search a bit more bearable, and empower your organization to choose a tool that everyone will be happy with.
The definition of spend management seems to be fairly obvious ⎼ it’s the management of enterprise spend, right? On the contrary, the practice of spend management involves more than just the simple tracking and monitoring of how much money is going out of an organization. Much more.
Agile & Strategic Wins the Race
In the not too distant future, quick and dirty financial gains will no longer be the only value-creation lever considered to evaluate buyers and their performance. So long Savings…the new challenge facing buyers will be the multiplication and diversity of the objectives and KPIs to which they will be held accountable.
It’s that time of the year again. 2019 is off to a flying start for Chief Procurement Officers (CPOs). That means it’s the perfect time to make solid resolutions…digitalization, compliance, supplier management, collaboration…and stick to them!
Two organizations leveraging technology in pursuit of agility.
In Part One of this two-part blog series, Determine Chief Product Officer Julien Nadaud laid out the fundamental thinking and strategy behind what it takes to move toward a more agile procurement framework and operations. Part Two below delves into some of the specifics that two Determine customers used to streamline, modernize and “agilify” their organizations. As Ardent Partners points out, agile is the future of procurement success — here are some examples of how that looks.
Making the move from concept to reality.
In this two-part blog series, Determine Chief Product Officer Julien Nadaud explores what it takes to strengthen your procurement strategies and make them easier with just one word: agile. Part One looks at the groundwork required to rebuild your present agile procurement strategies, and in Part Two he’ll summarize two case studies surrounding specific examples of agility in action. The idea of “agility” is getting a lot of play in the procurement world these days, but it is real, achievable and what success will increasingly look like .
How ACU, the Best Credit Union in America, turned listening into procurement process efficiency.
Two invaluable Determine customers from completely different industries – Alliant Credit Union and Watermark Retirement Communities – recently achieved award recognition for achieving transformational excellence through cross-functional alignment. In light of that, we thought it would be useful to look into the factors that help define transition success, starting with Alliant Credit Union in part one of this two-part series.
Realizing the Full Benefits of Center led Procurement
As procurement organizations of all sizes and maturity levels embark on transformation projects, many consider it within scope to re-evaluate the structure of their team and how procurement interacts with the rest of the enterprise. Center led procurement has been considered a best practice for some time now, preferable to both centralized and decentralized procurement structures. And yet, procurement must be constantly re-evaluating their structure and priorities.
Everyone has heard about chatbots, or intelligent assistants. The battle between Google Assistant, Amazon Alexa, Apple Siri and Microsoft Cortana is raging: They are embedded in our smartphones and are mainly driven by voice, augmenting our ability to access information and do things; these assistants are also in many homes, and have become mainstream in consumer smart objects and IoT devices. Now we’re wondering how soon they will be just as common on our desks at work.
Procurement was center stage again this month (fitting, in terms of it being a summer of trade uncertainty). We covered the discipline from a number of different angles, from taxes to tactics. But in looking back, one thought from Andrew Bartolini, founder of Ardent Partners, stood out as particularly relevant to how procurement as a whole is developing: “While intelligence is critical, a precise measure of procurement intelligence is less important than the performance it generates. In point of fact, as a department (and the entire profession) matures, the definition of procurement intelligence becomes a moving target; and it becomes relative to nearly all stakeholders in the source-to-settle spectrum.”