My hat goes off to UTC for winning the Purchasing Medal of Professional Excellence from Purchasing magazine. The award is well deserved and speaks to the early technology and process bets UTC has placed over the years in the Spend Management world. From deploying a custom built eProcurement system leveraging IBM's internal eProcurement technology before the world knew what maverick buying was to displacing AT Kearney's four thousand buck a day MBAs in favor of FreeMarkets back when Bidware was held together with sewing needles and thread, UTC has placed more big bets -- which were not guaranteed by any degree -- than any other company I know in the procurement and operations world in the past decade. And I've not even touched on their creative use of Open Ratings to reduce supply risk and develop at-risk suppliers with lean training and supplier development programs (this case study, in particular, is a great success story that speaks to the customized use of technology and content to drive needed results, rather than simply buying an off the shelf capability).
Great job, guys. You more than deserve this award! And on a personal level, thank you for taking such risks ahead of the market with unproven vendors, technologies, and approaches before they became widely popular. You are an example to organizations of all sizes of the power of Spend Management to go beyond short-term bottom line impact, transforming overall company performance via the supply-side of the business -- not to mention serving as a posterchild showing the benefits of working with small, innovative Spend Management providers to unlock new types of value ahead of the adoption curve.