Category Archives: Technology

Technology

4 Ways to Avoid a Horrible Software Implementation

Anyone who has undergone multiple enterprise software implementations can probably tell horror stories about failed deployments. Some software implementations end up taking months, or even years, longer than planned.  Other implementations never even get off the ground because there was not a plan around how to properly implement the new software after purchase. Furthermore, if your software users are poorly trained or face usability difficulties, your software implementation efforts will end up being a waste of both time and money. … More

The Power of Spend Analytics

Here at Iasta, we like to have fun when presenting webinars with our clients and industry analysts, and our webinar with Brunswick, Equifax, and Spend Matters was no exception. The speakers agreed to quite a unique theme, tying together The Lord of the Rings and Spend Analysis. There is no denying that this Lord of the Rings-themed webinar made for some good laughs, but we still kept the message simple and clear: although spend analysis often seems like a daunting … More

4 Questions You Must Ask to Make Sense of Your Procurement Data

From web browsers and social media to contracts and purchase orders, the amount of available data in the procurement industry is never-ending. All of this data presents awesome opportunities to learn more about your suppliers, decrease risk, and ultimately save your company money. However, knowing how to leverage this data presents a whole new set of challenges. With so much information at your fingertips, it is easy to get caught up in all of the excitement and collect useless data. … More

Contract Management in a New Context: It’s About Centralizing Compliance, Governance, and Risk (Part 3)

Creating an enterprise approach to CLM is essential in today’s procurement world, as procurement and other departments are increasingly being audited on their organizational processes and data approaches.  This is paralleled with the efforts of center-led / center-of-excellence approaches being established by world-class procurement enterprises, something we are seeing more and more within our client base. Using an enterprise approach for CLM therefore only makes sense for organizations taking this approach. In fact, the consolidation of CLM into one tool … More

Contract Management in a New Context: Blind Men, Elephants, and Visibility (Part 2)

Today, organizations have many choices when selecting a Contract Lifecycle Management (CLM) solution.  Some solutions may come from a content management provider as part of a wider usage of sharing content.  Others may come from ERP systems, who argue that you’re simply leveraging just another module within your ERP.  Someone focused on these two options may be considering CLM as just an add-on functionality or an afterthought to using one provider. Still, other CLM options come from specific functions, like … More

Contract Management in a New Context: Going Outside Your Silo (Part 1)

Without Contract Lifecycle Management (CLM) in the modern business world, a list of things can go wrong, including missed savings, heavy fines, costly litigation, and broken relationships. However, what truly defines CLM will always be a matter of perspective. Generally speaking, CLM is the ability to manage against contracts to ensure that contractual obligations are being met.  This starts with the coming together of two parties that agree on the context of a business relationship.   CLM, contract award, compliance, and … More

3 Drivers for Procurement Automation Success

What is driving procurement automation success today, and how can procurement teams plan for the best possible outcome in their source-to-pay transformation? On May 29th, Iasta joined Verian in a webinar titled “Top Drivers in Source-to-Pay Transformation: 3 Keys to Quicker Time to Value.” In only an hour’s time, the panelists covered a number of diverse topics such as: The definition of the source-to-pay cycle The goals of procurement automation ERP vs. best-of-breed vendors Source-to-pay metrics that matter Today, I … More

Who is Determining Your Priorities?

Evaluating the market is the initial key phase to any software implementation. Each organization has its own specific functional and cultural needs and priorities to consider. Key considerations should expand beyond functionality to include cultural fit, alignment with your organizational structure, and your procurement maturity level. The alignment with your specific needs in these areas should remain a basis for decision-making throughout the entire process. Below are three key points to consider during your evaluation process: Where to start? It’s … More

Conquer the Dark Powers of Lost Savings and Hidden Risk

At times, do your stakeholders seem as if they are from Middle-Earth, stuck in their own lands? Do you only see them from afar, bickering with each other and ignoring the rising dark powers of lost savings and hidden risk? Has the incomprehension and inflexibility of spend data from “ERP or the homegrown data warehouses” come to rule them all? Well, now is the time to lift the veil of gloom on spend and use analytics to build a fellowship … More

Deliver the ROI You Promised in Your Source-to-Pay Transformation

You want to automate the source-to-pay cycle, but what solution is best for your business? Would focused specialty solutions serve you best? Should you consider a monolithic enterprise platform? Without understanding the tradeoffs that accompany these decisions, you may not realize the ROI you need within an acceptable time frame. The Source-to-Pay cycle in mid- to large-sized enterprises encompasses diverse teams with unique application requirements.  As these enterprises embark on the automation journey, they are faced with a variety of solutions, … More

Supplier Diversity Makes Headlines with Minority Subcontracting Laws

At Iasta, we started paying more attention to supplier diversity when we released our first Supplier Information Management software in 2007. In 2012 and 2013, we began noticing a significant uptick in general market interest and direct inquiries from clients and prospects regarding supplier diversity tracking. Aside from hearing about supplier diversity issues from clients and prospects, we’re also reading about it in the headlines. Just last week, McHugh Construction agreed to pay $12 million to settle a lawsuit alleging … More

Participate In IASTA and Efficio’s Global Procurement Survey

Iasta has partnered with Efficio to research how procurement maturity varies globally and address the steps procurement leaders are taking to become change agents in their organizations. Our hope is the survey results will help us better understand procurement’s organizational impact from a global perspective. We are asking questions around: The big picture – What are your top challenges and plans over the next two years? The sourcing process – How do you prioritize, manage, and report on your projects … More

3 Reasons to Implement a Supplier Diversity Program

April is Celebrate Diversity Month, which started in 2004 to recognize and honor the diversity surrounding us all. Diversity can be recognized in many ways – from self-expression, to a difference of opinion, to choosing diverse suppliers – but one thing is certain, we celebrate diversity in hope that people will gain deeper understanding of the diverse group of backgrounds and cultures. As for procurement, supplier diversity programs are just as important to recognize (and celebrate). Today, supplier diversity programs … More

8 Signs You Are Ready to Adopt a Modern Sourcing Solution

I can rattle of many reasons why teams should consider implementing a modern sourcing solution. Even though each company will have different challenges, needs, and goals; if your team is experiencing any of these eight signs below, now is the time to adopt a modern sourcing solution! Sign #1: Limited Or No Visibility Into Your Company’s Spend If you have limited or no visibility into your spend, you are likely missing out on hard dollar savings. A spend analysis solution … More

5 Easy-to-Keep Goals for 2014

It’s February. You have a full month of New Year’s resolutions under your belt. Are you still on track to reach your goals for 2014? Even if you’ve modified your original plans for a personal (or professional) lifestyle change, you don’t have to fail! At Iasta, customer success is our obsession. We love sharing our customer’s success stories. We’ve put together 5 easy-to-keep goals and best practices that have helped our clients take their sourcing initiatives to the next level … More