The Determine
Blog
A Corcentric Company.

September 12, 2019

Stop Playing Whack-a-Rogue With Your Indirect Spend

Stop Playing Whack-a-Rogue With Your Indirect Spend

Three strategies for controlling indirect spend to boost working capital.

A recent whitepaper from Corcentric and CFO.com, The Impact of Indirect Spend on Working Capital, delved into the bottom-line consequences of uncontrolled company spend — what Corcentric terms dark purchasing, and is alternately called rogue, maverick and tail spend. The most startling fact, besides the enormous cost, is just how unprepared most companies are to deal with it on a strategic level. You need an enterprise approach, instead of just whacking those rogues when – and if – they pop up.

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September 5, 2019

4 Major Concerns for CFOs and CPOs in 2019 and Beyond

4 Major Concerns for CFOs and CPOs in 2019 and Beyond

The CFO / CPO Agenda: Beyond cost reductions, increased efficiency, and data visibility.

As CFOs and CPOs are tasked with greater responsibility over a host of issues, there are four major industry themes that will likely be top-of-mind for them, this year and into the future. Although cost reductions, increases in efficiency, and visibility into valuable data are still incredibly important to the C-suite, as well as to the organization’s bottom line, there are other strategic challenges that need to be addressed.

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September 3, 2019

August DetermiNews: A Review of the Month in Source-to-Pay & CLM

August DetermiNews: A Review of the Month in Source-to-Pay & CLM

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.

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August 29, 2019

Assessing the True Cost of Tail Spend, Part 2

Assessing the True Cost of Tail Spend, Part 2

Using teams and technology to take culprit spend issues by the tail.

In Part One of this two-part blog series from our colleague Reggie Peterson, Director of Supply Programs at Corcentric, he explored the (considerable) list of challenges facing procurement in regards to controlling the tail-spending mavericks and rogues who cost companies significant amounts of money. In Part Two, he takes a closer look at another component of the problem —being “oversuppliered” — and digs into the measures and strategies available to get more spend under control.

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August 27, 2019

Assessing the True Cost of Tail Spend, Part 1

Assessing the True Cost of Tail Spend, Part 1

Gain control over tail spend so it doesn’t “wag the dog” when it comes to your company’s profitability.

Corcentric Resources Blog intro - tail spend 1

The internet and globalization have made today’s business environment more competitive than ever before. Increasing an organization’s revenues is not enough to achieve and maintain profitability; now every function within that organization must also account for every dollar spent. That can become a challenge for Procurement when it comes to indirect spend and an even bigger challenge when it comes to tail spend.

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August 22, 2019

How to Justify Spend Analysis When There’s No Clear ROI

How to Justify Spend Analysis When There’s No Clear ROI

I know we don’t have to preach to the choir. Procurement professionals are all aware of just how practical spend analysis is for them, but sometimes find it challenging to explain exactly why. Some expenses are simply hard to justify. Spend analysis is often seen only as an added value to the organization, rather than an essential piece to uncovering hidden value opportunities. In an applicable paper, Spend Matters suggests 10 ways to justify the expense for spend analysis to the financial decision-makers at your company. Here are some key takeaways…

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August 20, 2019

The Challenges of Managing Contracts on a Global Scale, Part 2 of 2

The Challenges of Managing Contracts on a Global Scale, Part 2 of 2

What Should the Right Contract Management Solution Look Like…and Do?

In part one of this two-part blog series, we explored some of the challenges and strategies around a global contract management solution implementation. From the required melding of global-local considerations to the absolute need for contract visibility and data transparency, having the “right” contract lifecycle management technology (CLM) means having the advanced capabilities to meet a wide range of enterprise, performance and user objectives. Here’s how to make it so.

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August 15, 2019

The Challenges of Managing Contracts on a Global Scale, Part 1 of 2

The Challenges of Managing Contracts on a Global Scale, Part 1 of 2

Choosing the Right Contract Management Solution to Keep from Spinning Out of Orbit

In the spirit of the anniversary of the first moon landing 50 years ago, if a typical contract management solution implementation is “one small step” toward improving a company’s efficiency, then a global deployment is “one giant leap.”

In this two-part blog series, we’ll explore the mission control elements that are critical to ensuring that leap doesn’t end up lost in space.

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August 13, 2019

With Implementations, it is Location, Location, Location.

With Implementations, it is Location, Location, Location.

An Outsider’s Perspective on Implementing Technology.

I’ve participated in many procurement technology implementations – and not always in the same role. Like most people, my experience began on the receiving end of new technology for which I had no say in the selection or configuration. From there I moved to a leadership role on a team tasked with selecting and implementing a sourcing suite for the first time. A few years later, I was part of a consulting team at a solution provider where I regularly assisted in or led implementations as part of procurement program (re)design projects.

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August 8, 2019

The Benefits of Platform-Based Sourcing

The Benefits of Platform-Based Sourcing

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.

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