Author Archives: Peter Smith

Top 4 Ways CPOs Will Use Social Media

apple-cup-display-1883-733x550 In Part 1 of this series we looked at the principles of social media, which give an insight into how and why it has been such a phenomenon. Aspects such as the way it enables users to feel a sense of belonging and to share knowledge, information and their passions so quickly and easily, play to ancient human needs. So now let’s look in a more practical manner at the areas where social media tools, or tools that at least use these principles, will increasingly play an important role in the lives of CPOs and indeed all procurement professionals. There are 4 principle areas that we can consider, although there is overlap between them in some cases.

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Social Media and the CPO

macbook-air-notebook-technology-1168-825x550 For a recent workshop in London, I prepared a session titled "From Facebook to Supplier Collaboration - how social media is changing procurement.” As well as being one of the more enjoyable topics to research (I got to know far more about vloggers and Haul Girls than I really needed to), it is actually a huge and fascinating topic once you really get into it. And it goes way beyond just keeping your LinkedIn profile up to date, which is about as far as many CPOs and senior professionals get. So in this piece we will get into an overview of the subject and start focusing on the key principles of social media, which then suggests what CPOs, procurement directors or similar should be considering in terms of actually making use of the tools - we'll cover that in Part 2.

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Global Market and Future Goals: BravoSolution’s New CEO Speaks Out – The Spend Matters Interview (Part 3)

- October 9, 2014 2:49 AM | Categories: Spend Management, Supply Management, Technology

13900884393bkpr-1 Jim Wetekamp, BravoSolution’s recently appointed CEO, is no stranger to the depths of procurement solutions and technology. Jason Busch, Spend Matters founder and managing director, first got his taste of Jim’s handiwork when he was working for a competitor to FreeMarkets, Atlas Commerce, which was acquired by VerticalNet. Jim has since focused on a variety of solution and commercial areas as that original entity morphed into something that would have been difficult to imagine at the time of the original analyst research into the procurement market. In this three-part interview series, Jason and Peter Smith, managing director of Spend Matters UK/Europe, delve into Jim’s and BravoSolution’s current focus in global markets and its future plans.

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Expanding Into Upstream Supply Management: BravoSolution’s New CEO Speaks Out – The Spend Matters Interview (Part 2)

- October 8, 2014 10:02 AM | Categories: Spend Management, Supply Management, Technology

1410735813pl8ep Jason Busch, founder and managing director of Spend Matters, has known BravoSolution’s new CEO Jim Wetekamp for nearly 15 years, meeting around the time when they both first entered the procurement market. In this three-part interview series, Jason, along with Peter Smith, managing director of Spend Matters UK/Europe, quiz Jim on his background and discusses BravoSolution’s current position in the market and it’s ambitions. Also see Part 1 of the interview as well.   Spend Matters: What is the largest solutions-focused opportunity for BravoSolution today? Jim Wetekamp: This very much depends upon a market-by-market case since each region is different. However, […]

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BravoSolution’s New CEO Speaks Out – The Spend Matters Interview (Part 1)

- October 7, 2014 10:54 AM | Categories: Spend Management, Supply Management, Technology

file000489793623 Spend Matters Founder and Managing Director Jason Busch recently sat down with BravoSolution’s new CEO Jim Wetekamp at his office in Chicago. Peter Smith, managing director of Spend Matters UK/Europe, was also part of the discussion via teleconference. In this three-part series, Jason and Peter asked Jim to provide some insight on his background for our readers, where he sees BravoSolution today and opportunities for the future. Enjoy!

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The Spend Matters Stock Portfolio – Just Like the Ryder Cup

- October 2, 2014 6:43 AM | Categories: Commentary, Industry Analysts, Industry News

We are now three quarters of the way through the year and through our 2014 stock portfolio competition between Jason Busch, representing the mighty USA, and me, Peter Smith, representing Europe. And I'm afraid, just like the Ryder Cup, it is turning into a bit of a non-contest, with Europe clearly ahead.

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CPO Insight: Procurement Transformation – Myth or Reality?

- September 30, 2014 6:27 AM | Categories: Procurement, Procurement Strategy & Planning

What does a "transformation" really take to be successful? I'm writing this from the economy cabin of a very busy London to Dubai flight, on my way to run a couple of workshops in Dubai and Abu Dhabi for the BravoSolution joint venture in the region, Tejari. By the time you read this, the workshop will be completed, and the topic in Dubai is Procurement Transformation - Myth or Reality? One of the reasons we chose this as a topic is that "transformation" has become an over-used expression and procurement has not been immune to its charms. In this Plus article, Pierre Smith talks about what exactly a procurement "transformation" means.

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Peter Smith (Spend Matters UK/Europe) on Procurement Lifecycle Engagement (webinar: Sept. 30)

- September 24, 2014 2:16 AM | Categories: Industry News, UK/Europe

On Sept. 30 at 12 noon UK time, software firm Zycus is hosting a webinar featuring Peter Smith, managing editor of Spend Matters Europe. The title is: How to make a “cradle to grave” contribution: connecting purchasing with the wider organization to drive end-to-end value. Register here.

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CPO Insight: Procurement Transformation – Myth or Reality?

- September 22, 2014 10:30 AM | Categories: Procurement Commentary, UK/Europe

"Transformation" has become an overused expression, and procurement has not been immune to its charms. It's hard to get far into any procurement-related publication, or report from a consulting firm, without running up against the “T” word. Virtually every managerial-level candidate now has "transformed" something in their past career. Even if it was just the process for ordering office supplies. In this Spend Matters Plus Research brief, Peter Smith, lead editor of Spend Matters UK/Europe, explores what transformation really means, and if we can agree that it does have some genuine meaning (in some cases, at least) – and how chief procurement officers (CPOs) and other procurement leaders can go about making it happen.

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A Better Month for the Spend Matters Stock Portfolio (Even Blur Group Moves Up!)

- September 2, 2014 10:28 AM | Categories: Industry News, Procurement Financials, Solution Providers

We move into the start of a new academic year in many parts of the world, children try on their new school uniforms, and summer inexorably turns into autumn. And the thoughts of procurement people turn to matters of great import – such as whether the Proactis share price can keep rising and why Hubwoo’s just doesn’t seem to move at all.

Yes, another month has gone by, and it is time to review Spend Matters' virtual stock portfolio, made up of 21 stocks in firms that have a procurement content to their portfolio. Peter Smith and Jason Busch have been tracking them all through 2014 in this Spend Matters Plus series to get a sense of where the market for firms in this industry is going. They then chose their preferred portfolios from those stocks, using an imaginary $1 million initial fund each. Jason focused on just eight firms; Peter spread his risk with 14.

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Do Marketing Services Buyers Have the Best Jobs?

earbuds If I had to choose a spend category to be responsible for, what might that be? Well, I recently met someone who has what might just be my dream procurement job. Richard Kirstein runs Resilient Music, based in London. It is a small advisory and (in a sense) procurement outsourcing firm that advises and helps their clients buy music rights. So when you see a TV advert, or some fancy YouTube viral video campaign for a trendy fashion or drinks brand, and there is some music playing in the background, someone has purchased the rights to use that music.

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Proactis 2014 Overview: A Source-to-Pay Provider Uses Acquisitions to Move Up a Gear

- August 22, 2014 1:29 PM | Categories: M&A, Solution Providers

It has been a busy year for Proactis, the source-to-pay software provider based in Wetherby, a town in the fine northern English county of Yorkshire. Of all the firms in our European procurement solution provider market, Proactis has been the busiest from an acquisition point of view – certainly compared to company size. The firm has basically doubled in size (revenue) as well as moving in new strategic directions via three acquisitions in this calendar year. In this Spend Matters Plus research brief, Peter Smith (managing director of the UK/Europe site) provides a recap on those transactions, as well as takes a quick look at their half-year figures released in a trading update on August 12th, ahead of the full results announcement.

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