Category Archives: Functionality
This blog first appeared on Decision-Achats, 05/09/2017 Today, e-procurement providers are racing to offer ever more features to their customers. The result is often mixed: unused features, and rigid processes that do not really meet each company’s specific business needs. Most source-to-pay solutions on the market stick to a linear process: purchase requests, orders, receipt and invoice reconciliation. However, this process only works for certain purchase categories. As soon as you want to add more negotiation, teamwork, or contract management, … More
Business is evolving in a volatile legal context: regulations are changing and becoming tougher. The notion of “conformity” and “compliance” have never been so prevalent. During the 7th annual Journée du Management Juridique (Legal Management Day) in Paris this past June, Mr. Philippe Ginestié evoked a time when a supplier’s word and handshake were enough to constitute a contract. But that time has passed.
Integrated, unified, combined; Determine devotes a lot of real estate in our content and resources to the topic of getting everyone on the same page. Our Process Under Management approach is all about aligning your people, processes and data to maximize visibility and control of business information so you can achieve greater results. Integrating Purchasing and Payables, a Determine-sponsored PayStream report, presents more compelling facts around why you need to get P2P processes in sync.
At approximately 175,496 pages (as of 2013), the Code of Federal Regulations (CFR) is not a casual beach read. So, until recently, I had never heard of Section 317.8(5)(ii) of title 9 of the Code of Federal Regulations. But I have experienced the impact of that rule first hand on many occasions. Specifically, in the bacon aisle of the supermarket.
The podcast series that’s all about minding your business in contract management and source to pay. Our archaic and medieval methods of constructing and drafting contracts are really a massive degradation to the potential for better trust, better communication.” – Tim Cummins, President & CEO of IACCM This quote from Tim Cummins, President & CEO of IACCM (International Association for Contract & Commercial Management), is a powerful indictment of the whole practice of contract management today. But as he also … More
Back in the day I did some work for a wealth management firm in New York. At that time, I was introduced to the area of Behavioral Finance, and more broadly, behavioral economics. While not new concepts, they gained new relevance – and urgency – during the financial meltdown 10 years ago. As my client used to say, investors are often their own worst enemies. In times of stress, even the most solidly constructed investment portfolio can be undermined through … More
A number of years ago when my niece first got her driver’s license, my brother-in-law got a panicked called from her in tears. In a shaky voice she said, “I pulled into a gas station next to the pump to fill up…now what do I do?” I remembered this story recently when I spent some time in rural France. Having rented a car, I knew eventually I was going to need gas. Not speaking much French, it was something I … More
As summer races by it’s easy to lose track of what’s happening in source to pay industry news (plus, it’s hard to compete with beach-reading lists). But a lot has happened since Services Procurement Month ended, and you can catch up on what you missed here. So far, it’s been the Summer of Transformation. From the CPO Summit in London to P2P digitalization, continuous improvement, implementation strategies and technology shopping lists, our focus has been on helping organizations reach the … More
In Part 1 of this series I wrote about making a business case to bring in new procurement technology. All organizations have handled first-time implementations of some sort – whether they are switching to a full platform or adding a new piece of functionality to a system already in place. The thing about new technology implementations is that, after all the effort invested in vetting prospective solutions, executive teams generally accept the notion that having technology in place is better … More
The podcast series that’s all about minding your business in contract management and source to pay. Global project implementation. Just the idea is enough to keep even the most hardened source-to-pay or IT professional awake at night. But it doesn’t have to be the case. Planning, strategizing, having a realistic change management plan in place and close collaboration at every stage between customer and technology provider will make the difference between up-and-running and up-at-night. I dove into this topic in … More
Determine customer Norauto, founded in 1970, is the pioneer of the car care center concept in France. Today, Norauto is the European leader in car maintenance, with more than 600 Norauto centers in eight countries providing multi-brand maintenance solutions for motorists in terms of maintenance, comfort and safety. Just one year after the Determine Cloud Platform was put into production, a continuous improvement process was implemented involving Prisca Foucart – E-procurement manager at Norauto, Romain Chauvet – P2P product manager … More
In Part 1 of this series, I voluntarily limited myself to discussing the Procure-to-Pay process in the context of digital transformation without going into Contract Management, Supplier Performance and Information Management, and the Strategic or Operational Sourcing process. In this part, let’s take a quick look at how those factor into a successful digital transformation.
The digital dream: the belief that transforming the front office (also called the customer experience) will lead to success while overlooking back-office transformation will only help to hit the wall faster.” – Bertrand Duperrin When it comes to digital transformation, integrating core enterprise workflows— including invoice files, commitment control, solution implementation, and suppliers and other operational players—can be the difference between ‘check the box’ success and having a substantial impact on your ROI.
As Services Procurement Month comes to a close, we hope our series of blogs, podcast, analyst resources and webinar with Forrester helped you become more fluent in this under-understood area. The continuing positive reaction to everything we shared shows us that there is enormous interest in the topic, as well as a hunger (and big need) for more learning. So while you catch up on – or review – our services procurement resources, keep an eye out for even more … More
In this series, I am sharing some of the lessons I learned as a procurement professional dedicated to hired services — both location based and corporate. In Part 2, I discussed the process of establishing demand and requirements, as well as the eSourcing considerations associated with each type of service. In this post, I want to share some of the additional opportunities associated with hired services, along with the areas where procurement should proceed with extreme caution. After all, services … More