Author Archives: Jami Parent

6 Steps to Improve Your Win-Loss Process: Part 2

Welcome back! Just joining in? In Part 1, I discussed the first 3 steps Iasta took in 2013 to improve our win-loss process and shared Iasta’s experience of each step. Today, I’ll share the final 3 steps and our journey each step of the way. Step # 4: Communicating the Process The Win-Loss team put together a presentation complete with process flow charts, sample interview questions, and high-level goals and went on tour. We met with all internal departments to … More

6 Steps to Improve Your Win-Loss Process: Part 1

Part of planning my goals for 2014 involves reviewing what I did well and what I could improve on from 2013. At Iasta, I’m part of the Win-Loss team and one of my favorite Iasta success stories from 2013 is our revamped win-loss process. Prior to 2013, Iasta performed win-loss interviews with clients and prospects, but we didn’t have a solid process for determining who to interview, when to interview them, and how to communicate results. In hopes of bringing … More

Need Product Ideas? Don’t forget to look in your own backyard

The Iasta Product Management team gets product ideas from a variety of sources: market research, industry analysts, procurement forums and blogs, Iasta sales and support reps, tradeshow conversations and many other sources. We record and track all the ideas we gather and use the following metrics to help us prioritize the list: Quantity and Quality of market evidence to demonstrate a need for the feature Impact the feature would have on target markets and long term product vision Development effort … More

Hey Procurement! Demonstrating Procurement ROI is Easier than You Think!

Are you still using manual processes to show ROI? If so, it’s time for you to re-evaluate your options… According to an Iasta user poll, 88% of Iasta clients use Hard Dollar Savings to demonstrate value to their company. The remaining users said Cost Avoidance was the most important metric they used to track value. At Iasta, we know many procurement teams who spend weeks collecting data for KPIs from a multitude of systems. Next, they cut, paste, and manipulate … More

4 Consumer Purchasing Decisions Based on Supply Chain Sustainability

At Iasta, we have teams working on the front lines of spend analysis and we’ve noticed a definite upward trend in the number of organizations tracking the sustainability levels of their supply chains. I personally love seeing this B2B trend become so powerful that sustainability conversations have started popping up in B2C environments as well. I frequently see consumers make buying decisions based on sustainability practices of the company making the product they are purchasing. As a consumer, have you … More

Investor’s Due Diligence & Spend Analysis: You should be paying attention!

Do you conduct annual reviews of your investment portfolio? I know it’s considered a best practice to conduct annual reviews of your investment portfolio including asset allocation, quality of investments and overall performance. Unfortunately, that doesn’t mean I’ve actually been doing it. I hadn’t reviewed my investments in a few years. I was unhappy with my portfolio performance in 2012, so I decided it was necessary to perform a new round of due diligence to help me decide what to … More

Emerging Trends in Supplier Information Management: Part 2

In Part One, I introduced a discussion of some surprising trends I found when looking at supplier registration forms from a wide variety of companies across many industries.  The first surprise for me was that so many of these companies are asking the same questions from supplier companies. In this post I’ll discuss the other unusual thing I discovered:  some organizations ask potential suppliers essay questions. It’s not quite as open as the classic American “How I Spent My Summer … More

Emerging Trends in Supplier Information Management: Part 1

When organizations adopt formal supplier management programs, one of the first steps they take is to focus on a more disciplined approach to collecting and managing basic information about current and potential suppliers. I am interested in the kind of data they collect and how they use it to manage suppliers so I took a look at supplier registration forms for a wide variety of companies and I was surprised by a couple of things: First, the data requested from … More

Does Your Procurement Team Need Better Contract Management?

If your company doesn’t have a good contract management process in place then you are missing out on some significant opportunities to improve your procurement processes, maximize negotiated savings, minimize off-contract spend, and leverage your full buying potential to get the best possible pricing from suppliers. How do you know if you need a better contract management process?  Ask yourself these 10 questions and, if you answer yes to more than one or two, you should take a serious look … More

10 Ways to Drive Procurement Value: Part 5

As part of our blog series highlighting advice offered by Jason Busch from Spend Matters in our recent, this installment discusses idea # 5:  Advanced Procurement Strategies for Supplier Performance Management. Click to read Part 1, Part 2, Part 3, and Part 4. Successful procurement groups are using their Supplier Performance Management (SPM) processes and tools to reap benefits far beyond basic performance data.  SPM implementations have moved from simply collecting and monitoring supplier data on key performance indicators to … More

Monthly Payback: Mukund Krishna, CEO of Suyati, Advises Businesses to Consider Websites as Prime Real Estate

Not everyone can afford a Park Avenue address, but that doesn’t mean you shouldn’t treat your current property like anything less than prime real estate. Mukund Krishna, CEO of the global technology consulting firm, Suyati, says “You aren’t maximizing your website’s potential if you aren’t managing it like a good real estate property. Like real estate, good websites are attractive and can be reached in many ways, from many different places.” He continued his real estate metaphor by comparing a … More

Monthly Payback: Ron Bedwell, VP of Operations at KMS Systems, Reveals Tactics for Getting Ahead

Ron Bedwell from KMS Systems spoke with me last week about his opinion on the key drivers for achieving success.  KMS Systems is a leading provider of industrial material handling equipment solutions and Ron has been there for more than 15 years. “There’s a lot of things you have to do to be successful in any given situation, “ Ron said.  “But there are a couple of things that you should always do no matter what you’re working on. One … More

Monthly Payback: Iasta CEO David Bush Shares Best Business Advice

With a new year upon us, I hope you’re all taking the opportunity to assume a few risks, embrace some stretch goals, and try out a some fresh strategies to take yourself and your organization a little further than you went last year. As everyone revs into high gear to launch their 2012 initiatives, it’s a perfect time to incorporate some knowledge and experiences from those who have gone before you. With that in mind, we here at Iasta are … More

Supplier Loyalty on the Upswing in 2012?

In the past few years, the procurement world has developed better ways to level the playing field between new suppliers and incumbent suppliers. Buyers have successfully driven costs down by embracing processes and technologies that increase competition between suppliers.  Generally this trend has made it easier for suppliers to get “introduced” to buyers. Supply relationship management technology has also increased the pressure for incumbent suppliers to maintain competitive pricing. Clearly the risks associated with switching suppliers are commodity dependent. It’s … More

Best Practices for Successful Sourcing Dashboards

In the modern, data-centric world we live in, dashboards are all the rage. In fact, a dashboard is one of the most powerful tools that business-intelligence software can bring to users. The accessibility and user-friendly data offered by well-designed dashboards can increase transparency into key projects and improve resource tracking, to name only a couple advantages. As BI software continues to evolve, three key characteristics have emerged as best practices for developing successful dashboards: • Simple, but meaningful: The data should … More