The podcast series that’s all about minding your business in contract management and source to pay.
In this episode of our podcast, I had a conversation with Julien Nadaud, Chief Product Officer of Determine, about the increasing importance of Services Procurement, and why it hasn’t been more fully embraced by companies.
We expanded on the scope of what categories are included under the Services Procurement umbrella. With the move in Europe and the U.S. from manufacturing to service economies, companies that embrace Services Procurement will have a definite edge – especially in attracting talent.
The term “Services Procurement” has been around a decade or more, so there’s an assumption that it’s well entrenched and being fully leveraged. The truth is, utilizing the capabilities that a solution offers is not happening. One of the main reasons for this that Julien highlighted during our discussion, is that as the service economy becomes more mature, the number of domains where companies need specialized skills is increasing. That requires outsourcing and subcontracting, and that makes managing services procurement very complex. As he says, “you can’t buy people the same way you buy goods.”
We both agree that the solutions offered in the market haven’t met the need – they’re rigid, difficult to use and don’t span the breadth of source-to-pay functions nearly enough. As Chief Product Officer, Julien has focused his team’s efforts on providing robust functionality on the Determine Cloud Platform to simplify the complexity for companies. Ease of use, a modern, intuitive interface and experience are imperative: as the next generations come out of college, their expectations are very high regarding how they want to work. If you want them, you’re going to have to have all the pieces in place.
Thanks for listening in.
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