Author Archives: Guest Contributor



How to Hack Your ERP and Create Competition for P2P Suite Providers

Spend Matters welcomes this guest post from Doug Hudgeon, a business automation expert.

P2P software is painful to buy and painful to implement. In order to get the biggest benefit, you need to rip the purchasing spinal cord out of your company and replace it with an end-to-end P2P system. This is a big project, requires a big budget and, if you are going to deliver on the promised benefits, you must have an unwavering commitment to change. Sales cycles are long but, fortunately for P2P vendors, the margins on the deals that do get across the line can be pretty good. But the competitive landscape is about to shift.

6 Ways To Really Mess Up Your AP Automation Project

Spend Matters welcomes this guest post from Melissa Hendrick, VP of marketing at Yooz North America.

Today, automation technology is one of the inevitable trends for companies wanting to improve their efficiency and agility in a complex economic environment. The reasons are clear: cost reduction, process optimization, data security, regulatory compliance and many more.

If you are considering automating your invoice payment processing workflows in accounts payables, or are already investigating solution providers, your success will be based on following some basic guidelines and avoiding some common pitfalls.

With that in mind, here are some insights to help you identify the pitfalls on your journey to AP automation, combining practical information with a little tongue-in-cheek humor.

Supplier Inclusion: Moving Beyond Spend to Measure Impact

Spend Matters welcomes this guest contribution from Brian Peters, Gilead Science’s director of procurement, and Steven Wuerth, Gilead Science’s senior manager for supplier inclusion and data analytics. 

Supplier diversity can have positive impacts on businesses and communities, but history suggests that program implementation has been difficult and, in some cases, borderline ineffective. In CVM Solutions’ 2018 State of Supplier Diversity Report, only 32 percent of respondents rated their supplier diversity programs as very effective,2 up 7 percentage points from their 2017 report3. This white paper by Gilead, a biopharmaceutical company with suppliers worldwide, contains reflections and learnings from our work to progress Gilead’s robust supplier inclusion program and to move beyond spend as “the” historical metric for supplier diversity so we can inspire and measure a broader impact.

Give Your Company a Personality Test Before Contracting for Services

Spend Matters welcomes this guest post from Gary Weiss, Flash Global's vice president of pricing, procurement and inventory management.

If your company were a human who could sit down and take a personality test, how would it score? Every company is like a person, with an individual temperament, strengths, weaknesses and quirks. Instead of "personality," though, we call it "corporate culture." Company culture affects every aspect of business operations, including employee recruitment, retention, development, business practices and vendor relationships. These five questions will help you define your corporate culture and find a service vendor who is a good fit.

How Procurement Can Help Save The World From ‘Lease-Pocalypse’

contract

In less than 90 days, one of the biggest accounting changes the world has ever witnessed will take effect. Starting in January 2019, a new set of rules will require companies to begin transferring almost $3 trillion worth of leases onto their balance sheets. Going forward, leases will be center stage in financial reports. To apply the new accounting standards, businesses must really know the leasing contracts. Only the procurement team has that deep knowledge.

Spend Matters welcomes this guest post from Steve Keifer, LeaseAccelerator's vice president of marketing.

7 Tips: A Guide to Mastering Procurement Transformation

Spend Matters welcomes this guest post from Alex Saric, Ivalua's chief marketing officer.

As the role of procurement continues to evolve, a new approach is required. Leaders are transforming their organizations with a new mindset, new processes and new technology. Having worked with hundreds of leading organizations as they transform procurement, I’d like to share these seven tips for procurement managers that should serve them well.

With Business Up But Politics Volatile, Uncertainty Is the New Certainty for Procurement

Deloitte Global CPO Survey 2016

Spend Matters welcomes this guest post from Naseem Malik, managing partner at TYGES International.

Life should be good for procurement professionals these days, if conventional wisdom is to be believed. Companies are hiring, spending and facing growth-related opportunities/challenges not seen in almost two decades. There’s renewed confidence with the business-friendly policies, and there’s a sense that a 4% GDP growth can be the new normal for the U.S. economy. But reality is not quite as rosy. From vitriolic trade negotiations to overnight tariffs, sanctions and currency fluctuations, companies are facing levels of volatility not seen in decades.

Intelligent Trade Finance: The Road Ahead

Spend Matters welcomes this guest post from Biji John, product manager, trade finance, at Finastra.

The trade finance industry is undergoing a unique moment of transformation. There is a virtuous circle between how the technologies of the fourth industrial revolution will enable trade financing, and how this in turn will power the innovation and adoption of these technologies in “Industry X.0.” In our last post, we explored ways in which AI, blockchain and the Internet of Things (IoT) will transform how trade finance is done. Here we explore some of the hurdles that banks face on the road to true intelligent trade finance, and provide some practical examples of banks that have overcome these challenges and serve as prime examples of intelligent trade finance in action.

These 3 Data Problems Could Be Draining Your Company’s Resources

Spend Matters welcomes this guest post from Brian Alster, global head of supply and compliance products at Dun & Bradstreet.

When you’re working on estimating the costs of your third-party relationships, the last thing you want to find are holes or inaccuracies in your data. It can leave you unable to make informed, data-driven decisions. This fear might explain why, according to Forrester research, almost a third of enterprise architects and chief data officers spend at least 40% of their time discerning the credibility of their data before using it to make critical decisions.

Intelligent Trade Finance: The Confluence of Blockchain and the Internet of Things

Spend Matters welcomes this guest post from Biji John, product manager, trade finance, at Finastra.

The fundamentals of trade and trade finance have not changed in centuries: it’s process heavy, with bottlenecks and disputes everywhere. Characterized by paper and manual operations, the back office is ripe for next-generation transformation. In the middle and front office there is potential for far greater automation and use of real-time data, for example in the accounts receivables process, in SME credit underwriting, loan booking, and monitoring and indeed for relationship managers (human and virtual) to surface and analyze data to gain insights and provide more data-driven recommendations to corporate clients along the financial supply chain.

Debunking the Myths of Optical Character Recognition: What It Is and How It Affects Accounts Payable

e-invoicing

Spend Matters welcomes this guest post from Justin Holden, vice president of sales, Yooz North America.

OCR: Another one of those technical buzzwords that we’re hearing a lot about these days. It’s of particular interest in fintech (another new buzzword that stands for “financial technology”) and even more specifically in accounts payable. But what is it? More important, what isn’t it? And how does it make a difference in the accounts payable (AP) workflow?

Analytics Connects the Dots — and Data — to Improve Healthcare Supply Chain Performance

healthcare

Spend Matters welcomes this guest post from Brad Stillwell, senior director of product strategy at Birst, an Infor company

Data analytics is transforming healthcare, informing every decision from doctors’ diagnoses to long-term patient risk management. While the spotlight is, deservedly, on data-driven transformation within the four walls of healthcare facilities, analytics also has the power to improve the performance of supply chains and entire healthcare ecosystems to deliver a significant competitive advantage.