Investing in Corporate Governance to Ensure Compliance

Governance and compliance are terms that are often used interchangeably to describe the “law and order” part of procurement’s responsibilities. That being said, they are not quite the same thing. Governance captures the rules in place regarding purchasing and spend management, while compliance is the adherence to (and/or enforcement of) those rules. In a perfect world, governance is what you do and compliance is what you get in return. Historically, most organizations have predominantly focused on compliance. This may be due … More

e-Procurement Open Lab Conference: “Discovering the e-Procurement of tomorrow.”

At the Salon Solutions trade show in Paris on September 21, I shared with attendees Determine’s vision for the future of Procurement Information Systems. What follows is a summary of my key points. Procurement Solutions and Organizations, after some twenty years of development, are now reaching maturity. Even though implementation levels are different from one continent to another, it is still possible to consider what the future might hold. Procurement Solutions will bring three main areas of innovation to Procurement … More

Increasing Visibility to Build Understanding

Procurement needs to be familiar with their company’s spend and purchasing habits on a very detailed level. This requires a combination of spend analysis, contract reviews and stakeholder interviews. What they must remember, however, is that procurement does not just need to increase visibility for the sake of their own understanding, but rather to increase the understanding of all decision makers in the organization. This might include helping the CFO see past savings to appreciate the value of process improvements, … More

IACCM San Diego – Contract Management digitization continues its transformation

Observations from the IACCM Americas conference A recent Liberty Mutual commercial highlights a woman talking about a typical car insurance contract being 22 pages long, and that most people don’t read it except lawyers because no one really understands it; to the average person it reads “blah blah blah blah blah”. Hitting a nerve even in the world of commercial contracts, it is evident that contract management today needs to get beyond the traditional legalese of typical contracts designed by … More

BPM and Procure-to-Pay: The engines driving the digitalization of the Procurement—Finance relationship

At the Salon Solutions trade show in Paris on September 21, a Round Table event was held on the topic of BPM (Business Process Management). I was invited along with a number of other experts to present my views on the topic of “How to deploy BPM: a powerful engine driving enterprise digitalization.” Here are some of my thoughts from that discussion: Optimizing processes to improve business performance may not be a new idea in and of itself, but BPM … More

October Determinews: Scaring up the latest in supplier management.

Just because Halloween is around the corner, kids shouldn’t get all the good stuff. So, we’re handing out the latest in supplier management best practices this month. From risk to spend management to process improvement, our goal is to continue helping you take your procurement organization even further through supplier optimization. If you like what you read, don’t hesitate to share this to your colleagues. Event Recap: France September is always a busy month in France, but this year was … More

Enable Your Organization: Processes, Systems, and “Boundaryless Companies” in the Technological Age (Series 2 of 2)

This article was first published in the ACC Docket, August 2016. In Part 1, we covered the idea of technology as both the catalyst for – and result of – “boundaryless” organizations, and why legal needs to embrace expertise in these integrated systems. In Part 2, we look at how people are also becoming silo-less through the power of self-service. Employees without boundaries: Going self-service. To go back to Jack Welch, he elaborated on “boundaryless companies” and described them as … More

The future of procurement—powerful and seamless—now served on a platform.

Featured Resource: Procurement, platforms and the future. In the beginning, there were point solutions. Solved a lot of spreadsheet headaches (data misentry, anyone?), but had their own challenges. Enter the solution suite — digitized processes, integrated modules, standardization — and end-to-end automation. Perfect. Almost. As procurement organizations continue to move up the maturity curve, shortcomings in the solution suite model become increasingly apparent. The ability to extract and leverage all data across an enterprise is how procurement will find new … More

Enable Your Organization: Processes, Systems, and “Boundaryless Companies” in the Technological Age (Series 1 of 2)

Source This article was first published in the ACC Docket, August 2016. This two-part blog series explores the concept of the “boundaryless” enterprise, and the role that legal plays in this seamless world. In Part 1, we’ll get into how technology is essential for legal teams in not only managing all that interconnectedness, but the risks and potential that come with it. Good business processes and systems breed successful businesses. As corporate counsel, we must be more than simply attuned … More

The Impact of Supplier Management on Spend: Linking the Dynamics of Supplier Relationships with P2P

In an environment of increased regulations and demand for compliance, organizations are placing their suppliers under increasing scrutiny. Yet, managing supplier information is often near impossible given the the inability of organizations to easily tie supplier information to procure to pay. According to recent research from PayStream Advisors, supplier relationships are often strained due to poor processes resulting from the lack of automation in managing them. In the 2016 P2P for Indirect Spend Report, more than one third of respondents … More

Improving Insights Into Third-Party Risk (Series 4 of 4)

Reducing the Cost of Physician Self-Referrals with Better Compliance: What SIM & CLM Offer Healthcare Providers in Managing Stark Law Physicians have been abiding by a code of ethics since antiquity. Next time you go to your doctor’s office look around and you may see the Hippocratic Oath hanging on a wall. Considered a rite of passage written by Hippocrates of Kos in the 5th century BCE, the oath requires a new physician to swear to uphold specific ethical standards. … More

The Procurement Revolution: You in?

Digitization, data, disruption, agility. Procurement is emerging more and more as the driving force behind organizational profitability in enterprises worldwide. From implementing process improvements to re-engineering supplier management structures, procurement has become a center of change because it has learned to adapt, embrace and accelerate with every new development in technology. But there’s always room for improvement. In my presentation with The Procurement Revolution called Six Disruptive Forces & their Impact on Procurement, I am going to be looking at some … More

Time for legal to soar into the Cloud (Series 3 of 3)

We looked closely at the compelling reasons for adopting a cloud-based legal solution in Part 1, and ways to mitigate supplier risk in Part 2. In this third and final blog in the series, you’ll discover how other organizations have made cloud solutions integral to the way they do business. Proof of government compliance In the interest of full disclosure, I am the general counsel of Determine, a global provider of cloud-based contract lifecycle management, strategic sourcing, supplier management, and … More

Time for legal to soar into the Cloud (Series 2 of 3)

In Part 1 of this series, we looked at some of the reasons every legal team needs to adopt cloud-based legal solutions. In Part 2, you’ll discover why you need to know exactly who your suppliers are and what they’re up to–and the risks they represent. What happens in Bangladesh matters in Arkansas A little more than three years ago, a shoddily constructed eight-story building located across the world in Bangladesh collapsed, killing more than 1,100 people and injuring at … More

September Determinews: Autumn in the air

Labor Day’s just a few weeks past and already we’re at full tilt with summer a distant speck in the rearview mirror. Back-to-school may also be a thing of the past for most of us, but here at Determine the learning – and sharing – never stops. Risk is a big theme this month –what it is, where it is and how to control it. As always, please feel free to contact us with any comments. Team Success team.success@determine.com Save … More