Category Archives: Procurement Transformation

Procurement Transformation

The Procurement Maturity Curve – Collaboration is value creation – Part 4

In this series of posts, we have looked at how procurement can progress from meeting the fundamental requirement for savings and ensure their continuation through process compliance. We have also considered the potential associated with a shift from an outward-in focus to one that is externally driven, allowing us to position the enterprise to take advantage of the best available options as well as to minimize the risks associated with them. Although this progression tracks an expanding perspective and set … More

A tale of two Visionaries

Determine companies b-pack and Iasta both designated “VISIONARY” in the GARTNER 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement* and 2015 Magic Quadrant for Strategic Sourcing Suites. When Determine set out to establish an industry-leading platform for source to pay, we sought the very best talents to deliver on innovations, to set new standards. We started at the top with b-pack, a “Visionary” in the 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement*, and Iasta, rated “Visionary” in … More

The Procurement Maturity Curve — Managing Risk inside and out – Part 2

In Part 1 of this series we looked at how procurement can improve its risk mitigation role by getting involved earlier in the process, and staying involved. In Part 2 we’re going to compare and contrast the internal/external sources of risk, along with how to keep it in check. Look at risk from the outside in. When procurement looks at each category of spend as being directly influenced by materials markets and varying levels of influence in the supply chain, … More

The Procurement Maturity Curve — Managing Risk inside and out – Part 1

In the past, we’ve taken a close look at how procurement’s maturity curve affects its focus. Two recent posts addressed issues concerning the evolving role of procurement savings, compliance and enterprise alignment. In this blog series, we’ll consider risk. First, we look at supplier risk and methods to monitor and mitigate it; then we’ll examine internal vs. external risk sources. Procurement: Sourcing risk mitigation. After procurement has dealt with the primary internal spend management needs of the enterprise —savings generation … More

Procurement: Achieving compliance without focusing on enforcement: Part 2

In my last blog I discussed how procurement’s evolution has spurred the need for increased attention to compliance. By decentralizing day-to-day purchasing, extending it to organizational “consumers,” the process has been made more efficient — as long as everyone stays within the guidelines. In this post we examine the bigger picture of compliance; that is, aligning procurement processes with broader organizational goals. Improved Compliance Through Alignment Let’s face it, generating savings is not as simple as buying the same products … More

Achieving compliance without focusing on enforcement: Part 1

  In this blog series we’re taking a close look at how procurement’s maturity curve affects its focus. Two recent posts covered procurement’s first priority – savings. Now we set our sights on compliance. First, we’ll examine how the evolving role of procurement has created an environment where increased attention to compliance is imperative; on the follow-up post we’ll explore how to improve compliance through enterprise alignment. Procurement Evolves Procurement’s transition over the last decade from “purchasing” to its current … More

Understanding the Dynamics of Cloud Computing for Procurement in 2016

In a recent Determine webinar I had the chance to talk about procurement trends and the cloud with Mihir Nanavati, SVP of Product at Tradeshift, and Julien Nadaud, Determine’s Chief Product Officer. Considering the two areas, which are changing rapidly and having an enormous impact on each other, it was enlightening to hear what these two experts had to say. Top of the mind, especially for procurement, is to understand the factors around the growth in cloud computing. We discussed … More

2016 Macroeconomic Conditions Impacting Procurement – Savings in the Forefront

[Note: This article was originally posted on CPORising.com. Determine is pleased to contribute regularly to Ardent Partners blog on the topics of procurement and supply management. You can read the original post and other content from Ardent Partners HERE.] Needless to say, the start of year has hardly been one for celebration. Recent volatility in the stock market has been driven by the Chinese bubble economy, oil prices hitting a 13 year low of $25 a barrel, and crisis in … More

Success Story: eProcurement

The Challenge Over the last 10 years, sales of traditional CDs have declined as the music industry converted to digital formats. Within this context, Sony Music Entertainment, one of the world’s largest recorded music companies, needed a solution that would help them get better financial control—specifically focusing on their marketing spend. They decided to consolidate their Global financial systems into one centralized SAP system, to be deployed globally. In addition, Sony Music was looking for a purchasing solution that would … More

Confessions of an IT Director Managing IT Spend

“Who ordered this? We don’t have the budget for it!” I knew our IT budget would be tight this year, so this last $50K upgrade invoice is really throwing my budget totally out of whack. During our last quarter meeting, one of my Project Managers (PM) mentioned this upgrade, but this was not in our original budget nor was it in any approved PO. Hopefully, we can reallocate this to another account, or ask for another budget extension… This was … More

The Procurement Maturity Curve — savings at every stage (part 2)

Post one of this two-part series looked at how procurement is (and may always be) linked to savings, even as the definition and measure of those savings has changed. But Procurement’s role – and influence – has expanded. Technology and data are accelerating procurement along the value continuum, and changing what it can bring to an enterprise beyond the bottom line. In this post we look at how procurement professionals can leverage tools to increase their organizational effectiveness — and … More

Platform technology. The future is almost here.

All enterprises, our customers and prospects included, share a common challenge when it comes to supply management, That challenge is the burden of having a plethora of siloed solutions. The solutions  range from supposedly comprehensive spend management platforms to spreadsheets and manual processes, to category-specific solutions and supplier portals. Help, however, is on the way and it isn’t taking the form of the unattainable ERP vision of one all-inclusive behemoth. Enterprise technology solutions tasked with making business processes work better, … More

The Procurement Maturity Curve — savings at every stage

The role of Procurement is ever changing and growing in importance. What are your company’s current practices? What are you doing to advance to the next level? Savings is still a primary focus and a critical measure of effectiveness, but it’s not the only one. In this two-part series, we’ll examine how procurement technology is (or should be) adding value across enterprises. We’ll also touch on how incorporating data and analytics tools can enhance processes, providing procurement professionals with increased … More

Evolution of the Cloud and its impact on Procurement

Talking about cloud computing today has become commonplace as cloud-based technologies play a more critical role in business.  But much like other technological innovations, one thing leads to another, with each iteration building on its predecessor. Consider the evolution of the power grid, of telecommunications, of the personal computer, or of the Internet. Based on the advances of technology leaders like Amazon, Google and Salesforce. Today, most of us in the IT industry understand that it is the evolving technology … More

The ROI of Integrity, Trust and Loyalty

Successful implementations that meet complex customer needs begin with strong relationships. We know that strong relationships are based on integrity, which takes time and effort to develop. But believe me, the ROI of integrity is real. From lower churn, more referral customers and loyal clients to shorter sales cycles, bigger deals, happier employees and more innovative solutions — investing in integrity is good for business. In fact, integrity is one of our core values at Determine. Having integrity leads to … More