Category Archives: Functionality
“All things seem possible in May.” In the world of procurement, that quote by Edwin Way Teale wasn’t far off the mark. CPO Rising 2017: Tools of the Trade was a big focus this month. In this year’s report, the first to really take a technology angle, there was so much to cover we had to parse it out into four chapters. A lot of revelations, chief among them is that procurement leaders are much less focused on spend under … More
The podcast series that’s all about minding your business in contract management and source to pay. When it comes to procurement and technology, getting the practitioner’s perspective first-hand adds considerable practical dimension and insight to our learning and messaging. In that regard, my conversation with Greg Tennyson, CPO at VSP Global (formerly at Salesforce.com and Oracle) was a trove of information and a revealing glimpse into how a CPO thinks about shaping procurement today. Since Greg will be our featured guest … More
By coincidence (or not), today is the birthday of Samuel Morse, inventor of the telegraph – arguably the first email. Considering the continual rise in speed, quantity and complexity of data communications today, it’s worth remembering that to some degree, he started all this. Of course, being that humans can never leave well enough alone, we’re still tweaking, refining and trying to perfect source-to-pay and contract management technology that enables people to communicate and collaborate better.
The following article on General Counsel and legal teams becoming business drivers with the help of legal technology originally appeared in Corporate Counsel, March 30, 2017. How CLM technology can help transform Legal with Self-Service The demands on today’s general counsel are many, complex, and unfortunately often in conflict with the wider business. Corporate counsels are their company’s traditional guardians, expected to protect the business against unnecessary risk from poorly thought out plans, regulators, unscrupulous partners, class-action lawyers, bad business … More
When it comes to contract management, all businesses face similar needs and challenges, from redlining to attachment management, tracking, clause libraries, etc. But for federal contractors – especially those working in technology for public sector agencies like the Department of Defense and the intelligence community – managing contractual relationships and the documents themselves leaves no room for error.
Ardent Partners turns the spotlight on Determine. Holistic as a word was first used 80 years ago. That’s why it’s a bit surprising that the concept is just now gaining real traction in source-to-pay. But, as Ardent Partners explains in their report, the shift is happening because of the intersection of modern competitive business pressures and continuing innovation in technology. This has forced – and enabled – leading enterprises to take a more holistic view of their supply management workflow. … More
I will never forget the first time I set foot in an Accounts Payable department. I was working as the lead consultant on a project to completely transform and rebuild a company’s procurement function. Everything was going exceptionally well: processes, reporting, technology implementation, and upskilling the current team. The CPO mentioned to me that I should stop in and introduce myself to the AP lead before the project moved much further forward. I dutifully did so – although when I … More
In my last post, I wrote about the differences between global and multinational contract lifecycle management. These two seemingly synonymous terms provide guidelines for a large group of varied users and organizations, but they achieve their objectives in different ways. Global implies control, pushing a set of standards universally, while multinational implies flexibility, modifying a localized ability to accommodate regional norms.
For a variety of geopolitical reasons, there’s a lot of rethinking going on right now about what the future will (and should) look like. It’s no less true in our industry, where change and innovation are constants. Rethinking and reinventing is just part of being a technology leader, and leveraging that technology is how leading companies stay that way. From “results” to “retail” to “reinvention,” we reflect back a month of insights and learning. Enjoy the following highlights. As always, please … More
Over the holiday break I came across a recent article in Forbes Magazine. A Forbes study, conducted jointly with Hitachi of 573 global companies, reveals that just 13% of them have integrated digital technologies enterprise-wide, and 51% plan to dedicate 10% or more of revenues to digital transformation over the next two years.
Featured Resource: How supplier management is impacting organizations more than ever. Advice: It helps to treat suppliers as customers. That seems basic, but consider why so many organizations are just now adopting that attitude. Truth is, supplier management is evolving fast; it’s critical to not only catch up, but to get ahead of the curve.
Whatever your preference, Hard or Soft Brexit, the UK will be triggering Article 50 by April Fool’s Day next year. Thereafter, the UK will be leaving the European Union within two years. This should be accomplished by March 2019. But hard to say, since the UK government is not saying much. Depending on which media outlet you subscribe to (and believe), this is the worst/best/unknown thing that has ever happened to the country in the nearly 60-year existence of the … More
The United Nations has declared December 9, 2016 “International Anti-Corruption Day” – an effort aimed at raising global awareness of the social and economic impact of corruption, particularly in the developing world. As they explain on their website, “Every year $1 trillion is paid in bribes while an estimated $2.6 trillion is stolen annually through corruption – a sum equivalent to more than 5 per cent of global GDP.” It is easy to agree (especially in the abstract) that corruption is … More
Salon Solutions is always an exciting event, and a great chance to hear the latest buzz and get a feel for what’s going on in our industry. As Senior Solutions Strategist for Determine in France, I am pleased to say that this three-day show in Paris was hugely successful in terms of attracting attendees to our booth and engaging them on a personal level. What’s more, speaking at various events was a chance to share our vision and technology around Procure-to-Pay … More
Today, executives in all functions and lines of business are driven to create shareholder value. Nothing can destroy the perceived value of an investment faster than negative press, which can do irreparable damage to a brand. In some cases, the cause of the criticism may not even be due to a company’s own actions, but rather those of their suppliers (or suppliers’ suppliers). When a supply chain extends across the globe, procurement may have to extend the scope of their … More