Author Archives: Guest Contributor



The Future of Procurement is Mobile — Here’s Why

SciQuest

Spend Matters welcomes this guest post from Aman Mann, CEO of Procurify.

Even though procurement is actually evolving, it’s still playing catch-up. E-procurement was surely a step in the right direction, but in its current state, it’s still fundamentally flawed. On-boarding suppliers that have their products incorrectly catalogued for instance is still a common headache, and then there’s the considerable amount of time wasted on approval chains.

But what if it was more efficient?

Currently, there are only a few mobile procurement solutions on the market, but they’re slowly changing specific tasks in the procurement process, such as automating purchase orders.

In a Highly Connected World, the Cloud is Making a Strategic Difference

cloud

Spend Matters welcomes this guest post from Laurent Charpentier, Yooz Inc.'s chief innovation officer and COO. 

The most useful business applications leverage cloud technology so that they can be accessed around the clock and from anywhere in the world on a mobile device. And the more widespread the use of smartphones, the more important it is for software engineers to build products that can be accessed in the cloud. Sure, there are still many uses for on-premise, enterprise level systems. But, for the thousands of start-ups and small businesses that are being created every day, many of which are using people in other parts of the country or world, they must be able to run around the clock. Cloud technology allows them to do that without having to worry about maintaining servers or IT support for technical issues.

Trade War or No, Local Sourcing with Maker-to-User Model has Advantages

sourcing operations

Spend Matters welcomes this guest post from Jason Middleton, Ray Products vice president of sales and development.

Our trade deficit with China surpassed $301 billion in 2018 — and it’s no mystery why. Thanks to cheap labor and fewer regulations there, it tends to be more cost-effective to have “Made in China” stamped on your product than it is to have “Made in America.”

In the last year, however, the trade war has prompted many companies to re-evaluate their outsourcing practices and consider a “maker-to-user” model of sourcing locally. With the U.S. imposing approximately $250 billion in tariffs on Chinese imports, it’s simply no longer cost-effective to source products and materials from China.

How Client Relationship Management (CRM) is Different for Government Contracting

digital

Spend Matters welcomes this guest post from Public Spend Forum, a sister site.

If you are used to private-sector sales, there are many differences to acquaint yourself with when transitioning to selling to government agencies, and the learning curve can be time consuming. Some of the successful sales and marketing tactics used in the commercial market do not work as well in government contracting. In fact, even the term “sales” is replaced with “capture management.” If you plan to transition and succeed in government contracting, it’s important that your client relationship management system (CRM) is set up to accommodate these differences to capture the business processes and data elements needed for government capture management.

How to Gain Executive Buy-In for Law Firm Procurement Investments

UpCounsel

Spend Matters welcomes this guest post from Clay Fox, a senior director at  HBR Consulting. Law firms are eager to implement procurement technology solutions. For example, the recent HBR Procurement Roundtable survey found that 53% of respondents plan to invest in spend analytics, 47% in supplier relationship management, 40% in contract management technology and 32% in invoice technology. The decision to invest in procurement technology is smart — modern procurement tools help law firms operate more efficiently, mitigate risk and serve clients more effectively. However, many procurement leaders face roadblocks in their plans to acquire technology solutions. Read about the three steps to take to gain full support from executive decision makers.

How Technology Aids Visibility into the Supply Chain

digital business transformation

Spend Matters welcomes this guest post from Graham Kelly, PrimeRevenue’s chief revenue officer.

Gone are the days when CFOs created value solely by spending time on traditional finance activities. Today’s finance executives are involved in a range of strategy-related activities that help set their companies apart in the digital economy.

According to a recent McKinsey Global Survey, this includes setting overall corporate strategy, devising pricing plans and collaborating on digitization, analytics and talent-management initiatives.

Winning in all these areas requires technology that delivers a massive amount of connected data. But, how do you compile and use data constructively to deliver transformative results?

The Ultimate Guide to Subcontracting in Government Procurement

Spend Matters welcomes this guest post from Public Spend Forum, which is helping us look at the world of public sector procurement.

Entering the world of government contracting requires considerable effort and education on the complicated process. Once you’ve overcome all of the hurdles and secured your first government contract, you may find you’ll require additional assistance to fulfill the job. Before you begin your search for the appropriate subcontractors, you’ll want to review the applicable regulations and compliance requirements. And you'll want to read the tips in this guide.

ERP vs. Best-in-Class Spend Management Solutions: Making the Tough Choice

Spend Matters welcomes this guest post from RiseNow Managing Partner Matt Stewart.

With an endless list of options in the procurement software space, how is it possible to choose between spend management solutions like Ariba, Basware, Coupa and Jaggaer? Should you even consider such options when your existing enterprise resource planning (ERP) system is capable of handling basic spend management needs?

If you’re reading this, you’ve likely considered or are considering whether best-in-class source-to-pay (S2P)/procure-to-pay (P2P) solutions are worth your time, money and effort. You’ve probably wondered how the benefits compare between the solutions, whether one far exceeds another in ROI, what is best for your end users and suppliers, and if the rate of adoption is greater with one solution over another.

This story offers a few good places to start when determining whether your ERP provider or a best-in-class spend management solution is best for your organization.

For 2019, Fintech Faces More Automation, a Rise in Early Payments and a Marriage with Regtech

Spend Matters welcomes this guest post from Chen Amit, CEO and co-founder of Tipalti.

Automation will be a key driver for companies in 2019, especially in a space like fintech. Robotic process automation (RPA) became popular in 2018 and will only continue to rise in the ranks as companies are seeing the lasting benefits for a range of applications, including data management, accounting and payroll management.

Another strong trend is early payments. And also in 2019, fintech will no longer be fintech anymore. Regtech, the concept of using technology to address increasing regulatory requirements and business risks, is marrying with fintech.

Why 2019 is the Year for Companies to Address Working Capital Challenges to Avoid 2020 Crisis

Spend Matters welcomes this guest post from PJ Bain, CEO of PrimeRevenue.

“Hello transformation. Meet reality.” Those four words sum up where the global business climate has taken us in 2018, and where it will lead in 2019. Whether in the context of industry or geopolitical transformation, the economic implications of transformative change have exposed vulnerability. How can companies fund transformation in an economic climate that’s equal parts encouraging and concerning?

How to Limit Nature’s Impact on the Supply Chain

Spend Matters welcomes this guest post from Graham Parker, CEO of Gravity Supply Chain Solutions.

Real-time data will provide visibility and inform decision-making that safeguards the supply chain from the unexpected.

Wildfires, tsunamis, earthquakes and hurricanes.

These are just a few examples of the types of natural disasters the world has experienced in the last 12 months. With California still reeling from the catastrophic impact of the recent wildfires, it is increasingly evident that natural disasters are becoming a regular occurrence.

Extinction event: Amazon Textract has just killed the OCR industry. Who’s next and who’s safe?

disruption

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

The annual Amazon AWS Re:Invent conference has just finished. The most interesting announcement in the conference was not one of high-profile changes to their serverless and machine learning platforms. The most interesting announcement was a three-minute video about Textract, a new OCR (optical character recognition) service from Amazon. This service extracts text and tables from documents and is priced at $1.50 per 1,000 pages.

The Textract OCR service is interesting for three reasons, each of which is worthy of an article in itself, but we'll briefly look at all three here and the industries that are affected.