Category Archives: Technology

Technology

Supplier Information Management (SIM): A Sustainable Means to a Strategic End

A closer look at the PayStream Advisors 2017 Supplier Management Report and webinar. In a recent survey about current supplier management challenges, goals, and practices, PayStream Advisors asked procurement organizations what contributes to poor supplier relationships, and what their priorities are for improving the processes in place. Not surprisingly, access to accurate information was at the heart of both: As a source of supply chain challenges, and as a way to achieve a more strategic level of supplier management. Despite … More

Improve Contract Compliance by Thinking Like Sales…Not Procurement

If you’re anything like me as a procurement practitioner, you think of our end-to-end process in a linear fashion. It usually starts with spend analysis or some other source of information (budget, ERP, BI system output, etc.) and ends with Contract Management and/or Supplier Performance Management. For us, this is completely logical because the sub-processes that we view as the most “active” portions of procurement – strategic sourcing and negotiation – have been dealt with at this point.

Is Artificial Intelligence (AI) going to replace our jobs?

Background: Salon Solutions is the premiere event in Europe for all things related to the fields of digital transformation, Big Data, e-procurement and e-business in general – more than 6,000 visitors attended in 2016. As a major presenter hosting six roundtable discussions, Determine covered many topics of critical interest regarding source-to-pay. While I did not present all of these topics, I thought it would be informative to put them into a series of blogs, which we are sharing this week.

Millennials and technology: Get Ready for a Revolution in Procurement Solutions.

Background: Salons Solutions is the premiere event in Europe for all things related to the fields of digital transformation, Big Data, e-procurement and e-business in general – more than 6,000 visitors attended in 2016. As a major presenter hosting six roundtable discussions, Determine covered many topics of critical interest regarding source-to-pay. While I did not present all of these topics, I thought it would be informative to put them into a series of blogs, which we are sharing this week.

Managing business complexity: Keep it simple.

Background: Salons Solutions is the premiere event in Europe for all things related to the fields of digital transformation, Big Data, e-procurement and e-business in general – more than 6,200 visitors attended in 2017. As a major presenter hosting six roundtable discussions, Determine covered many topics of critical interest regarding source-to-pay. While I did not present all of these topics, I thought it would be informative to put them into a series of blogs, which we are sharing this week.

The Inclusive S in S2P: Spend Analysis, Supplier Management, and Strategy

We do love our acronyms in procurement, but rather than being an exclusionary tactic designed to keep “them” out, I like to think that shortening our long phrases to “TLAs” is in line with the resource efficiency we apply to spend management.

The evolution of the legal profession: From legal expert to business partner— A French Perspective

Business is evolving in a volatile legal context: regulations are changing and becoming tougher. The notion of “conformity” and “compliance” have never been so prevalent. During the 7th annual Journée du Management Juridique (Legal Management Day) in Paris this past June, Mr. Philippe Ginestié evoked a time when a supplier’s word and handshake were enough to constitute a contract. But that time has passed.

Contract Management: From business controller to business enabler.

The podcast series that’s all about minding your business in contract management and source to pay. Our archaic and medieval methods of constructing and drafting contracts are really a massive degradation to the potential for better trust, better communication.” – Tim Cummins, President & CEO of IACCM This quote from Tim Cummins, President & CEO of IACCM (International Association for Contract & Commercial Management), is a powerful indictment of the whole practice of contract management today. But as he also … More

It’s your decision. Or is it?

Back in the day I did some work for a wealth management firm in New York. At that time, I was introduced to the area of Behavioral Finance, and more broadly, behavioral economics. While not new concepts, they gained new relevance – and urgency – during the financial meltdown 10 years ago. As my client used to say, investors are often their own worst enemies. In times of stress, even the most solidly constructed investment portfolio can be undermined through … More

Making the Case for Procurement Technology “Upgrades”

In Part 1 of this series I wrote about making a business case to bring in new procurement technology. All organizations have handled first-time implementations of some sort – whether they are switching to a full platform or adding a new piece of functionality to a system already in place. The thing about new technology implementations is that, after all the effort invested in vetting prospective solutions, executive teams generally accept the notion that having technology in place is better … More

Solution implementation: The science and art of deployment.

The podcast series that’s all about minding your business in contract management and source to pay. Global project implementation. Just the idea is enough to keep even the most hardened source-to-pay or IT professional awake at night. But it doesn’t have to be the case. Planning, strategizing, having a realistic change management plan in place and close collaboration at every stage between customer and technology provider will make the difference between up-and-running and up-at-night. I dove into this topic in … More

So, You’ve Decided to Add New Procurement Technology

Although procurement technology is nothing new, there are first-time implementations going on all the time. Whether you are introducing the company’s first full end-to-end platform or adding a new area of functionality to an existing platform (i.e., contract management, supplier information management), preparing a solid business case will help win over decision makers and improve the selection process. Articulating your POV can be the difference between getting the green light to go ahead and more discussion and justification.

Success Story: Norauto and Determine collaborate on a continuous improvement initiative.

Determine customer Norauto, founded in 1970, is the pioneer of the car care center concept in France. Today, Norauto is the European leader in car maintenance, with more than 600 Norauto centers in eight countries providing multi-brand maintenance solutions for motorists in terms of maintenance, comfort and safety. Just one year after the Determine Cloud Platform was put into production, a continuous improvement process was implemented involving Prisca Foucart – E-procurement manager at Norauto, Romain Chauvet – P2P product manager … More

All in the family—realizing the benefits of a holistic approach.

Services procurement is not a silo, but part of the bigger picture for managing wider enterprise spend complexities The trend of “best of breed” sourcing, contract management and p2p solutions converging to suites, as well as the overall predicted growth of the services economy suggests it only makes sense that services procurement automation will be able to achieve new levels of savings and process efficiency by adopting a wider “source-to-pay” platform approach.

May Determinews: The month in source to pay and contract management

“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