Category Archives: Technology / SaaS

What’s up at Selectica? The perfect marriage between CLM and procurement.

It’s no secret that industry analysts note enterprises worldwide are fraught with low adoption of legacy procurement software. As a result, one of the main problems Chief Procurement Officers (CPOs) face is the lack of visibility and control of transactions. Procurement needs technology vendors with vision who can deliver the ability to combat rogue buying and improve spend management and contract lifecycle management (CLM) with more functionalities. CPOs today want products and solutions with source-to-pay features that are easy to … More

Answers to your questions about Selectica’s acquisition of b-pack

Selectica has just announced the acquisition of b-pack, an industry leader in Purchase to Pay. Since the merger of Selectica and IASTA a year ago, it’s been our goal to provide customers with tailored end-to-end upstream and downstream supply management solutions integrated with enterprise-wide contract lifecycle management. With b-pack, it’s all now possible. We know this is an important step toward efficiency for global enterprises weary of managing multiple vendors in disconnected pieces.   As Chief Sales Officer responsible for … More

Enterprise technology – A future written by millennials?

In viewing the release of our newest sourcing platform during a demo, I tried to discern all the pieces that I saw as unique or compelling. Looking past core features in the sourcing platform, such as RFx, auction and award management capabilities, I saw aspects of the new platform that are clearly distinguishable. Things like a slick and simple UI, collaborative reporting, in-app messaging and other social media, including capabilities for networking, made me think of the evolution of technology … More

re:build 2014 – Process is Documented Culture

“Process is documented culture.” This quote was discussed by Michael Lopp (engineering leader at companies such as Borland, Netscape, and Apple) at re:build 2014, a technology conference I attended in Indianapolis. While I took away a lot of great information, Lopp’s discussion particularly resonated with me. The best processes really do grow organically over time as a result of culture, and when implemented correctly they imply a fluid and effective approach for an entire team. This is ultimately what everyone … More

3 Reasons to Choose BoB vs ERP

By design, ERP solutions were intended to cover the ground of multiple applications on a single platform. But while great in theory, ERP solutions don’t always work effectively using only “one” platform. In fact, organizations are often pressured or forced to think using an ERP suite is the only option. However, choosing a Best-of-Breed (BoB) solution somewhat negates this approach and in some cases simply makes sense for an organization to adopt this single platform approach. While one size does … More

5 Common (and Dangerous) Misconceptions about Sourcing

With the constant changes and innovations occurring in today’s world, sourcing is often a bit of a moving target. And often other departments and stakeholders are confused about (or unaware of) the definition and value of strategic sourcing. What’s the strategic sourcing process look like? Who is responsible and accountable for sourcing events? What technology is used, and how can other departments benefit from this technology? These are just a few of the questions that drive the misconceptions about strategic … More

Your Top 10 Questions About Supplier Risk & Big Data

Are you suffering from information overload? If so, you aren’t alone! We live in a word full of too much information and data being thrown at us- both personally and professionally. In fact, Gartner predicts that enterprise data will grow 650 percent in the next five years. And IDC argues that world’s information now doubles every year and half. Talk about an explosion of data! Trying to get a handle on this information and knowing the best ways to create … More

4 Procurement Predictions for 2014: Part 2

Welcome back! Just joining in? In Part 1 I discussed two trends that we should look for in Procurement in 2014. Today, I’ll share the final two trends: 3-Increased consolidation of procurement and supplier data analytics –Analytics will continue to drive improvements in the ability to take action in business, probably more than any other technology medium for procurement and business at large. Due to the “Big Data” phenomenon, Analytic / BI platforms will increasingly need to accommodate third party … More

Moving Beyond Cost Reduction to Cost Avoidance: Part 2

Welcome back! Just joining in? Check out Part 1. In order to better understand the trend towards cost avoidance, consider traditional cost containment questions in sourcing which may include: What is the historical price of what we are buying? What discounts / savings can we get from buying now? What is our existing contractual relationship with that supplier? However, when addressing cost avoidance, the questions become much more complex. A cost avoidance mentality drums up sourcing questions such as: What … More

3 Steps to Improve Savings Recognition within Your Organization

How can savings recognition improve and have an impact on your procurement organization? Iasta Director of Sales & Marketing Enablement, Constantine Limberakis, participated as a speaker in our recent Webinar titled, “Strengthening Procurement’s Impact: How to Capture the Bigger Picture of Savings”. Constantine discussed three steps to improve savings recognition within the organization: 1-Establish consistent savings definitions and types: The lack of consistency in the definition of savings has caused misinterpretations between Procurement and Finance. As discussed in Iasta whitepaper, … More

Moving Beyond Cost Reduction to Cost Avoidance: Part 1

As we approach the end of 2013, there are several procurement based trends that will likely continue into 2014. One of these trends we’ve observed at Iasta is procurement’s focus away from cost savings and towards cost avoidance… We discussed this topic during our webinar, Strengthening Procurement’s Impact: How to Capture the Bigger Picture of Savings. Guest speaker Lutz Peichert mentioned that procurement today is being driven by a number of areas including disruptions through technology and customer experience that … More

Hey Procurement! Demonstrating Procurement ROI is Easier than You Think!

Are you still using manual processes to show ROI? If so, it’s time for you to re-evaluate your options… According to an Iasta user poll, 88% of Iasta clients use Hard Dollar Savings to demonstrate value to their company. The remaining users said Cost Avoidance was the most important metric they used to track value. At Iasta, we know many procurement teams who spend weeks collecting data for KPIs from a multitude of systems. Next, they cut, paste, and manipulate … More

How to Develop Your Modern Sourcing Strategy with Analytics

In today’s world, procurement pros need a solution that gives them a deep understanding of their data sources. Everything you do is generating data. Every sourcing project. Every interaction. Every purchase. Every new relationship. Every contract. Every transaction. Every supplier scorecard. Data can pile up quickly. So where are you storing all of this data? What stakeholders and internal business units require request access to corporate data to make better business decisions? What data is missing or hidden because you’re … More

How Modern Sourcing Promotes Innovation: Part 2

Welcome back! Just joining us? Click here to read Part 1 in this series which recaps the importance of innovation and what successful innovation looks like today. The successful implementation of innovative ideas demonstrates that despite the potential access to more resources, bigger is not always better. For the strategic sourcing application market, this simply boils down to the corporate genetic make-up of a small versus big company. For instance, as many business gurus may attest, small businesses (that includes … More

How Modern Sourcing Promotes Innovation: Part 1

As we continue to advance on the idea of modern sourcing, it is critical to understand there are multiple dimensions that require innovative ways of looking at how sourcing techniques, contract management, and supplier management must overlap and work together. I must stress that the key word here is “innovation”, a key topic covered in a recent blog on Spend Matters as to why “best-of-breed” strategic sourcing providers are showing the path for how modern sourcing needs to adapt. Why … More