4 Questions You Must Ask to Make Sense of Your Procurement Data

From web browsers and social media to contracts and purchase orders, the amount of available data in the procurement industry is never-ending. All of this data presents awesome opportunities to learn more about your suppliers, decrease risk, and ultimately save your company money. However, knowing how to leverage this data presents a whole new set of challenges. With so much information at your fingertips, it is easy to get caught up in all of the excitement and collect useless data. … More

Contract Management in a New Context: It’s About Centralizing Compliance, Governance, and Risk (Part 3)

Creating an enterprise approach to CLM is essential in today’s procurement world, as procurement and other departments are increasingly being audited on their organizational processes and data approaches.  This is paralleled with the efforts of center-led / center-of-excellence approaches being established by world-class procurement enterprises, something we are seeing more and more within our client base. Using an enterprise approach for CLM therefore only makes sense for organizations taking this approach. In fact, the consolidation of CLM into one tool … More

Contract Management in a New Context: Blind Men, Elephants, and Visibility (Part 2)

Today, organizations have many choices when selecting a Contract Lifecycle Management (CLM) solution.  Some solutions may come from a content management provider as part of a wider usage of sharing content.  Others may come from ERP systems, who argue that you’re simply leveraging just another module within your ERP.  Someone focused on these two options may be considering CLM as just an add-on functionality or an afterthought to using one provider. Still, other CLM options come from specific functions, like … More

Contract Management in a New Context: Going Outside Your Silo (Part 1)

Without Contract Lifecycle Management (CLM) in the modern business world, a list of things can go wrong, including missed savings, heavy fines, costly litigation, and broken relationships. However, what truly defines CLM will always be a matter of perspective. Generally speaking, CLM is the ability to manage against contracts to ensure that contractual obligations are being met.  This starts with the coming together of two parties that agree on the context of a business relationship.   CLM, contract award, compliance, and … More

3 Drivers for Procurement Automation Success

What is driving procurement automation success today, and how can procurement teams plan for the best possible outcome in their source-to-pay transformation? On May 29th, Iasta joined Verian in a webinar titled “Top Drivers in Source-to-Pay Transformation: 3 Keys to Quicker Time to Value.” In only an hour’s time, the panelists covered a number of diverse topics such as: The definition of the source-to-pay cycle The goals of procurement automation ERP vs. best-of-breed vendors Source-to-pay metrics that matter Today, I … More

Who is Determining Your Priorities?

Evaluating the market is the initial key phase to any software implementation. Each organization has its own specific functional and cultural needs and priorities to consider. Key considerations should expand beyond functionality to include cultural fit, alignment with your organizational structure, and your procurement maturity level. The alignment with your specific needs in these areas should remain a basis for decision-making throughout the entire process. Below are three key points to consider during your evaluation process: Where to start? It’s … More

“The Power of Positive Thinking” for Procurement – Part 1 of 3

Since it was first published in 1952, The Power of Positive Thinking by Norman Vincent Peale has become an international bestseller, selling over 7 million copies in 15 different languages. Inspirational quotes from Peale are often found on calendars, greeting cards, and bookmarks, but it would be a mistake to dismiss them as platitudes. His philosophy applies to our professional as well as our personal lives. Peale emphasizes the need to find a balance between enjoying our work and having … More

10 Years – 10 Memories: An Iasta Memoir by Marie Bauer (Part 2)

Thanks for coming back! In case you missed my first five memories at Iasta, check them out here. Below are five other memories that top the charts in my Iasta career to date: 6. Habitat for Humanity – Iasta employees formed an amazing Outreach Committee, which is dedicated to finding charitable events and donation opportunities in which employees can participate. Habitat for Humanity was one of our first large community service activities organized for the company. It was a memorable … More

Iasta makes its move – a new disruptive force is born

I have been retired from blogging for a very long time now.  The last time I was writing on a regular basis was 2008-09 when traffic was growing to over 3000 unique visitors per day.  It was never that I wanted to stop, but Iasta had grown too much and there was too much too do inside the business. Now, I have the honor to write again.  This time, it is because something very momentous has occurred to the company.  … More

Conquer the Dark Powers of Lost Savings and Hidden Risk

At times, do your stakeholders seem as if they are from Middle-Earth, stuck in their own lands? Do you only see them from afar, bickering with each other and ignoring the rising dark powers of lost savings and hidden risk? Has the incomprehension and inflexibility of spend data from “ERP or the homegrown data warehouses” come to rule them all? Well, now is the time to lift the veil of gloom on spend and use analytics to build a fellowship … More

10 Years – 10 Memories: An Iasta Memoir by Marie Bauer (Part 1)

On June 1, 2014, I celebrated 10 years working for Iasta and in the sourcing industry. I can still remember driving from Indiana University Bloomington up to Iasta’s headquarters in Carmel, Indiana, and sitting down with Dave Bush, CEO, for an interview. Soon after, I was offered my first “real” job answering support phone calls and emails for Iasta. Coming straight from college, I did not know much about the sourcing industry and did not realize my support position at … More

Don’t Expect Executive Support without Effective Communication

More than 100 procurement professionals ranging from CPO to Sourcing Mangers to Category mangers (and everything in between) participated in a global procurement survey conducted by Iasta and Efficio. Together, Iasta and Efficio revealed some interesting statistics and discussed findings from the survey in a webinar on May 13 titled, “Becoming a Procurement Change Agent in 2014: A Global Perspective of Procurement and Change Management.” One survey question asked participants to select what they believed were the top three most … More

May Monthly Payback: Dan Fahrner from SmallBox

Who is Dan? Dan Fahrner is the director of marketing services for SmallBox, a full service digital agency in Indianapolis that is passionate about using the web to start a culture-powered marketing revolution. He is a certified Google AdWords and Analytics whiz who has a passion for all things search. Dan’s expertise in marketing runs the gamut – from providing strategic and organizational health consulting for enterprise level organizations to managing advertising and marketing for national musicians. Outside of work … More

Speed up Savings with a Modern Sourcing Approach

The month of May means racing is on our brains here in Indianapolis. The Indy 500 is just days away and our city’s excitement for speed and racing is contagious. With this “need for speed” in mind, I’ve been asking myself this question: How do we help our clients go after these top savings priorities in the quickest and most efficient way? The answer, I believe, starts by looking at some industry research. Over the last few years, we’ve seen … More

Deliver the ROI You Promised in Your Source-to-Pay Transformation

You want to automate the source-to-pay cycle, but what solution is best for your business? Would focused specialty solutions serve you best? Should you consider a monolithic enterprise platform? Without understanding the tradeoffs that accompany these decisions, you may not realize the ROI you need within an acceptable time frame. The Source-to-Pay cycle in mid- to large-sized enterprises encompasses diverse teams with unique application requirements.  As these enterprises embark on the automation journey, they are faced with a variety of solutions, … More