Category Archives: P2P

P2P

Procure to Pay: Best practices in six key points

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

On the Curve of Innovation — Part 3: Enabling Collaboration & Self-Service

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

Finance CFO Introduction (Series 1 of 5)

When you’re a CFO – no matter what company you happen to work for – it’s hard not to take a straight line finance perspective. As the CFO of Determine, I’m constantly faced with the challenge of balancing the requirements of finance and accounting with the needs of procurement and legal. After all, they are our customers too. I followed the recent series of blog posts by Kelly Barner that Determine ran on procurement maturity. It is interesting how clear your own viewpoint becomes … 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

Source to pay and enterprise contract management tech trends—Smarter, agile and more sociable.

Technology is pervasive in our everyday life – it’s smart, fast, intuitive and everywhere. Business technologies, on the other hand, are only now starting to catch up. Today, procurement leaders are taking advantage of technical innovations that share some of the best aspects of social, commercial and B2C platforms – and are achieving impressive results. Several procurement technology trends exemplify this exciting shift in the industry. In particular are user expectations for: Smart tools: Expectations for explicit insights drawn from … 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

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

Smart ROI – the real value of the P2P

In this blog, we will explore the most efficient way to Determine™ the ROI of a Procure-to-Pay solution. In the first part of this blog, we will look at the steps to calculate an exhaustive TCO. In the second part, we will look at the potential savings associated with P2P. In his last article, Xavier Olivera — editor at SpendMatters.com, enlightens us on the importance to calculate a holistic TCO. The article lays out a number of questions to drive … More

Empower procurement managers with a complete P2P system.

Cost reduction and cost control: It’s The Holy Grail of every financial manager at every for-profit company. It’s also the goal of every non-profit organization seeking to stay within the boundaries of their allocated budget. The entire cost-containment process is made much easier with the right architecture and tools in place for driving enterprise-wide compliance to agreed budgets. Controlling costs In these difficult economic times, it is more important than ever before to exert appropriate, cost oversight and control–at each … More

eSourcing and eProcurement Go Together like Peanut Butter & Jelly

eSourcing and eProcurement are a perfect pair – they go together like peanut butter and jelly. When used together, these solutions can transform any organization and empower purchasing pros to make data-driven business decisions. So where does the rubber meet the road? And what does it take to get the implementation right? We recently hosted a Webinar with Procurement Leaders, Equifax (an Iasta Client), and Guardian Life Insurance about the most pressing topics and best practices for implementing eSourcing and … More

The Procurement Poker Pair: eSourcing & eProcurement

Are you taking a gamble and leaving millions of dollars on the table? You could be if you don’t have the right solutions in place… As a modern procurement pro, you know that having the right technology in place is a key component of your procurement strategy. Implementing eSourcing and eProcurement solutions together allows your team to enhance its performance and impact across the entire organization. What else can you do with the right technology in place? You can: Collaborate … More

Strategy for Success in eSourcing: Sourcing Execution

I originally wrote this post for the Sourcing Innovation series for this month. You can follow the link and see the other efforts, or just take my word for it and know that this was the best guest post. As any one who has been around e-Sourcing technology for any amount of time knows, the greatest sourcing and procurement successes are directly tied to properly managing adoption and continued usage by both the sourcing and stakeholder communities. The best software … More