Category Archives: Procurement Transformation

Procurement Transformation

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

Procurement and Finance Collaboration: What CFOs and Procurement Need to Know

When talking about procurement and finance collaboration, purchase-to-pay (P2P) technology always seems to come up. Budgeting, planning and savings implementations are shared across procurement and finance, but the connection between these two organizations also involve activities such as sourcing, purchasing, contracting, approvals, capital management, payments and more. In addition, more and more often the CPO reports to the CFO — another reason finance and procurement should aim to work seamlessly together. Although these departments have been historically siloed, they actually … More

Center Led Procurement: An Introduction

One of the hot topics in sourcing today is the trend toward center-led procurement organizations. This is where strategic decisions are coordinated centrally while transactional activities are decentralized across the organization, especially in large enterprises (>1 billion dollars). Today we are going to compare and contrast center-led procurement with the traditional centralized and decentralized models of procurement, and review some of the advantages of the center-led model. A classic decentralized model of procurement, where each business, functional or geographic unit … More

Empower managers with P2P process improvements

Overhead cost control, reduction and compliance with agreed budgets—They’re on every organization’s agenda, yet few have the processes and solutions in place to achieve them. In this blog we look at the issues and the solutions. Getting overhead under control. Whether it’s a new calendar year or a new fiscal year (or both), now is the time to make your spend control and reduction resolutions, and put the steps in place to make them a reality. Of all the factors … More

Resolutions For All

Sorry to say it, but that time of the year has arrived. And if you are like me, taking stock of the accomplishments of the past year along with being aware of what has transpired around you are important steps in preparing resolutions for next year. I am of course talking about pondering business challenges and imperatives as opposed to personal imperatives like reducing my cholesterol level… A big and growing part of awareness these days comes from social media. … More

Why procurement is buying into the power of Big Data

Purchasing at the best price, at the optimum time, from the right supplier. Automatically. That, in a nutshell, is what is driving the wholesale embrace of Big Data by procurement professionals and organizations, according to Mathieu Neu, writing in French industry publication Decision-Achats. Recently, the procurement game has changed significantly, with e-procurement tools getting better and better at automating strategic purchase decisions that result in significant spending cuts and budget optimization. A few major players are leading this digitalization of … More

Optimizing Strategic Sourcing Efforts – Insight From Research: Part 2

These are exciting times for procurement professionals. But consistently, most procurement leaders feel they should be doing better. Unlike last year’s Ardent report on “The State of Strategic Sourcing,” respondents in 2015 see as obstacles technology systems and processes rather than staff or talent challenges. Moreover, they feel that they can drive improvements that propel procurement forward through effective use of collaboration and enabling technologies, something that best-in-class are doing better than their peers. Survey respondents note that a strong … More

Buying turkey doesn’t have to be like rocket science!

One irony that historians note is that turkey was most likely not eaten on the first Thanksgiving. But tradition is what it is, and turkey is on the menu today. With that being said, there is a lot of turkey to be had this year. Let’s start with some numbers: According to the NTF (for the non-turkey experts, this is the National Turkey Federation), 228 million turkeys will be raised in the U.S. in 2015. As everyone probably knows, the … More

“e pluribus unum”

While I’m certainly not one for unbridled patriotism, I’ve always had a soft spot for the motto “e pluribus unum.” It could be that it takes me back to my days of high school Latin but that does not fully account for the sentimental impact of the words. The translation, like most from Latin, allows for a bit of nuanced interpretation. The range of translations typically include “One out of many” or “One from many,” and the one favored in … More

Reducing Costly Errors with e-invoicing

The evidence has been accumulating since the mid-1960’s that electronic invoicing, or e-invoicing, has been saving its users considerable time and money. Respondents to a 2012 global e-invoicing study by The Institute of Financial Operations found that 56% of businesses using e-invoicing spent considerably less money processing invoices than those businesses using manual systems. So why isn’t every business using e-invoices today? For some businesses it’s simply a matter of inertia.  For other businesses however, there’s a lingering concern that … More

Determine is Bringing Innovation Through Experience & Modernity – Series 2

With the release of the new name, Determine demonstrates that our unity is not just marketing. The strength of the Determine platform is based on experience and forward thinking design. In fact our differentiators could be thought of as two pillars, where the first pillar is depth of our capability based on experience in design. Our depth of experience in strategic sourcing means that our sourcing solution has executed 100,000s of auctions and RFx projects. It means that the technology … More