Understanding the Dynamics of Cloud Computing for Procurement in 2016

In a recent Determine webinar I had the chance to talk about procurement trends and the cloud with Mihir Nanavati, SVP of Product at Tradeshift, and Julien Nadaud, Determine’s Chief Product Officer. Considering the two areas, which are changing rapidly and having an enormous impact on each other, it was enlightening to hear what these two experts had to say. Top of the mind, especially for procurement, is to understand the factors around the growth in cloud computing. We discussed … More

2016 Macroeconomic Conditions Impacting Procurement – Savings in the Forefront

[Note: This article was originally posted on CPORising.com. Determine is pleased to contribute regularly to Ardent Partners blog on the topics of procurement and supply management. You can read the original post and other content from Ardent Partners HERE.] Needless to say, the start of year has hardly been one for celebration. Recent volatility in the stock market has been driven by the Chinese bubble economy, oil prices hitting a 13 year low of $25 a barrel, and crisis in … More

Three BIG Benefits of Contract Management

Contract management is an important aspect of managing business relationships and is the critical tool used by companies to get the most out of agreement terms that take so much effort to negotiate! While executing and monitoring a contract to maximize financial and operational performance and minimize risks may not sound sexy, it is important to the entire organization. There are many benefits of a contract management solution. Organizations where no solution exists suffer quantifiable losses. Spreadsheets combined with manual … 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

The Procurement Maturity Curve — savings at every stage (part 2)

Post one of this two-part series looked at how procurement is (and may always be) linked to savings, even as the definition and measure of those savings has changed. But Procurement’s role – and influence – has expanded. Technology and data are accelerating procurement along the value continuum, and changing what it can bring to an enterprise beyond the bottom line. In this post we look at how procurement professionals can leverage tools to increase their organizational effectiveness — and … More

Platform technology. The future is almost here.

All enterprises, our customers and prospects included, share a common challenge when it comes to supply management, That challenge is the burden of having a plethora of siloed solutions. The solutions  range from supposedly comprehensive spend management platforms to spreadsheets and manual processes, to category-specific solutions and supplier portals. Help, however, is on the way and it isn’t taking the form of the unattainable ERP vision of one all-inclusive behemoth. Enterprise technology solutions tasked with making business processes work better, … More

The Procurement Maturity Curve — savings at every stage

The role of Procurement is ever changing and growing in importance. What are your company’s current practices? What are you doing to advance to the next level? Savings is still a primary focus and a critical measure of effectiveness, but it’s not the only one. In this two-part series, we’ll examine how procurement technology is (or should be) adding value across enterprises. We’ll also touch on how incorporating data and analytics tools can enhance processes, providing procurement professionals with increased … More

Taking TIGR by the tail: Kellogg Company’s CLM deployment strategy

It was in 2009 when Kellogg Company began exploring new options for a contract lifecycle management tool. That decision, however, got put off as the company pursued a major acquisition opportunity. This turned out to be fortuitous, because the combination of the acquisition process, integration of the new business and the increase in our volume all served to highlight the need for a more robust CLM. It also helped formulate and focus our list of CLM requirements and priorities. I … More

Evolution of the Cloud and its impact on Procurement

Talking about cloud computing today has become commonplace as cloud-based technologies play a more critical role in business.  But much like other technological innovations, one thing leads to another, with each iteration building on its predecessor. Consider the evolution of the power grid, of telecommunications, of the personal computer, or of the Internet. Based on the advances of technology leaders like Amazon, Google and Salesforce. Today, most of us in the IT industry understand that it is the evolving technology … More

Business considerations for a better year

A lot has already changed within the first few weeks of the year. The China asset bubble finally burst, oil prices are near $25 a barrel and indicators predict especially uncertain times. Could 2016 be the year that we see the predictions of 2008 come home to roost? Whatever the year holds, David Bowie was right, the future will not be boring. As we hope for the best and prepare for the worst, here are my key business considerations for … More

The ROI of Integrity, Trust and Loyalty

Successful implementations that meet complex customer needs begin with strong relationships. We know that strong relationships are based on integrity, which takes time and effort to develop. But believe me, the ROI of integrity is real. From lower churn, more referral customers and loyal clients to shorter sales cycles, bigger deals, happier employees and more innovative solutions — investing in integrity is good for business. In fact, integrity is one of our core values at Determine. Having integrity leads to … More

Eight New Year’s Resolutions for Smarter Procurement and Spend Management in 2016

Happy New Year! Welcome to 2016! Just a couple weeks into the new year and maybe 75 percent of resolution makers are still on track, in six months fewer than half will be. To make things happen this year, most of us need to focus on a few key (and achievable) goals. If you don’t know where to start, Determine™ can help! You can chat with one of our experts about 2016 planning. We can help with successfully managing your challenges … More

Procurement and Finance Collaboration: What CFOs and Procurement Need to Know

When talking about procurement and finance collaboration, purchase-to-pay (P2P) technology always seems to come up. Budgeting, planning and savings implementations are shared across procurement and finance, but the connection between these two organizations also involve activities such as sourcing, purchasing, contracting, approvals, capital management, payments and more. In addition, more and more often the CPO reports to the CFO — another reason finance and procurement should aim to work seamlessly together. Although these departments have been historically siloed, they actually … More

Center Led Procurement: An Introduction

One of the hot topics in sourcing today is the trend toward center-led procurement organizations. This is where strategic decisions are coordinated centrally while transactional activities are decentralized across the organization, especially in large enterprises (>1 billion dollars). Today we are going to compare and contrast center-led procurement with the traditional centralized and decentralized models of procurement, and review some of the advantages of the center-led model. A classic decentralized model of procurement, where each business, functional or geographic unit … More