Category Archives: Technology
“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
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.
A blog by Spend Matters yesterday caught my eye, as it’s a topic that’s very top of mind here at Determine: the procurement technology user experience – or UIX. Coming hot on the heels of the Spend Matters’ E-Procurement SolutionMap, it’s a perfect time to look at what source to pay UIX really means and why it matters. More importantly, look at some of the many ways we optimize it on the new 17.3 Release of the Determine Cloud Platform.
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
Legal, procurement, supply chain—oh my! Visiting some retail clients during the holidays, I was struck by the impact of the accelerated shift from “bricks to clicks” on procurement, supply chain and legal. It’s no secret that recent holiday shopping sales showed a continuing significant shift to online buying habits. Actual physical toy retailers are nearly nonexistent, mobile phone retailers are all online, booking holidays is a 100% online pursuit, banking, grocery and now urgent purchases are easily accessible for online … More
A closer look: This past week I had the opportunity to be the first guest on Determine’s new podcast series, “Determine OutLoud,” hosted by Constantine Limberakis. If you missed it – listen here – the fast-paced conversation was far more fun than talking about procurement is supposed to be.
A recent stat quoted in a CPO Rising guide titled “The Trends (and Benefits) of Cloud-Based Technology Adoption: CPOs Take Notice” is telling: cloud platform adoption has grown by 37.5% over the past few years, up over 14% between 2014 and 2015 alone. “Chief Procurement Officers love ‘going to the cloud’ because it allows them to focus on what is most important to them: automating and repeating processes, scaling resources, and driving greater value through greater volume.” — CPO Rising Procurement … 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
As we head for another calendar turn, I’d like to thank you, our customers, for being the driving force behind making our solutions ever better as we fully implement our Cloud Platform. The best is yet to come – stay tuned as our global team sets the bar even higher in the year ahead. Get a taste in the following resources. As always, please feel free to contact me with any comments firstname.lastname@example.org. Determine Cloud Platform on cloud 9 Our … More
Governance and compliance are terms that are often used interchangeably to describe the “law and order” part of procurement’s responsibilities. That being said, they are not quite the same thing. Governance captures the rules in place regarding purchasing and spend management, while compliance is the adherence to (and/or enforcement of) those rules. In a perfect world, governance is what you do and compliance is what you get in return. Historically, most organizations have predominantly focused on compliance. This may be due … More
Reducing the Cost of Physician Self-Referrals with Better Compliance: What SIM & CLM Offer Healthcare Providers in Managing Stark Law Physicians have been abiding by a code of ethics since antiquity. Next time you go to your doctor’s office look around and you may see the Hippocratic Oath hanging on a wall. Considered a rite of passage written by Hippocrates of Kos in the 5th century BCE, the oath requires a new physician to swear to uphold specific ethical standards. … More
In Part 1 of this series, we looked at some of the reasons every legal team needs to adopt cloud-based legal solutions. In Part 2, you’ll discover why you need to know exactly who your suppliers are and what they’re up to–and the risks they represent. What happens in Bangladesh matters in Arkansas A little more than three years ago, a shoddily constructed eight-story building located across the world in Bangladesh collapsed, killing more than 1,100 people and injuring at … More
Introduction to SIM & CLM: Why supplier risk isn’t just a Fortune 100 company issue. The responsibility for managing suppliers and supplier contracts has taken on a heightened level of interest and concern in recent years. Highly regulated industries including finance, healthcare and food services, are forced to re-evaluate how supplier information is collected and how contracts are managed. With fines that can be in the millions, the potential of being audited and penalized due to non-compliance is real.
Making your organization run efficiently requires that you are able to take a clear and honest look at your workflows as they were designed. With the right enterprise technology, you not only can do this, but can also easily collaborate and communicate the business process you intended for those workflows, while enabling self-service capabilities to meet the demands of a wide variety of users. In this regard, consider the number of various user types involved with contract management, where workflow … More