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

The Procurement Maturity Curve — Managing Risk inside and out – Part 2

In Part 1 of this series we looked at how procurement can improve its risk mitigation role by getting involved earlier in the process, and staying involved. In Part 2 we’re going to compare and contrast the internal/external sources of risk, along with how to keep it in check. Look at risk from the outside in. When procurement looks at each category of spend as being directly influenced by materials markets and varying levels of influence in the supply chain, … More

Relationships: Vital to business success and prosperity!

With blogs, such as this, or any social media connection—email, text, online media in general—it  seems that building relationships has become a lost art. However, I beg to differ and will explain. This blog is about Relationship Economics and how it’s still as valuable as ever and even in vogue. In today’s economy, relationships are perhaps the new currency. A relationship describes a connection or association between people and/or things. Economics is about resource abundance, scarcity and allocation, the distribution … More

The Procurement Maturity Curve — Managing Risk inside and out – Part 1

In the past, we’ve taken a close look at how procurement’s maturity curve affects its focus. Two recent posts addressed issues concerning the evolving role of procurement savings, compliance and enterprise alignment. In this blog series, we’ll consider risk. First, we look at supplier risk and methods to monitor and mitigate it; then we’ll examine internal vs. external risk sources. Procurement: Sourcing risk mitigation. After procurement has dealt with the primary internal spend management needs of the enterprise —savings generation … More

Spend Category Management: What is it, and why is it so valuable?

Category Management is extremely valuable to organizations that conduct sourcing initiatives. This is especially true if they want to capture key knowledge around a specific sourcing category integrated within the corresponding organizational spend. This allows for ongoing category-specific measurements, such as rebate programs and Diversity Spend relative to specific items. It’s also essential for managing the overall status of the sourcing program to continually capture the intended cost savings. Our Determine Strategic Sourcing solutions integrate Category Management and Spend Analysis … More

Tapping into the full value of contract management tools.

How much should procurement really care about contract management? A lot. More and more, procurement is being asked to improve supplier relationships and reduce supply chain risk. According to research by Spend Matters, procurement should be analyzing contracts during negotiation to increase successful agreement and execution, and predict disputes before they occur. We agree. Reporting on contract information is critical for mitigating risk, maintaining compliance and realizing savings. Contracts and the data they contain are valuable. But too often they … More

The Modern General Counsel – Part 3

Introduction: Post #1 & #2 of this series looked at how General Counsel is (and may always be) linked to risk. But the role – and influence – of General Counsel has expanded. Technology and data are helping legal teams add value to an enterprise. Going beyond risk and compliance to support the bottom line. This article is about increasing their effectiveness – and clout – with contract management tools. Beyond risk: How Determine CLM turns contracts into strategic business … 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

The Modern General Counsel – Part 2

Introduction: Post #1 of this series looked at how Brett Hart, General Counsel at United Airlines, became their interim CEO. He not only understood risk, and how to intelligently manage it, but he also had a deep understanding of the company’s business and strategy, and how to deliver. In this next post we’re taking a closer look at how the role of General Counsel has matured. We covered examples of impressive success and are now looking at some distressing failures. … More

The Modern General Counsel – Part 1

Introduction: The role of General Counsel (GC) is growing in importance and has become a stepping-stone to titles like Chief Risk Officer and CEO. Risk and compliance are still important to the success of an organization. But there’s more to being the Chief Risk Officer or CEO. In this series, we are looking at examples of General Counsel succeeding and failing. We also investigate how to add value across an enterprise with contract management technology. Due to business, executive, and … 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

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