Opus Global announced Wednesday it acquired Alacra, a 20-year-old data aggregation and analytics firm focused on risk and compliance solutions for financial services. The firm brings a gold-plated roster of premier data content partners to the deal. In practice, this means that Alacra is good at aggregating data from a large number of sources, deduping and cross-referencing this content with process workflow around it, thereby ensuring more reliable compliance.more ▸
Opus Global has been out shopping for companies again, and this time it bought data aggregation and analytics capabilities in the form of Alacra. Opus announced the news yesterday. This Spend Matters PRO research brief takes a look at Opus’ recent acquisition of the 20-year-old data aggregation and analytics firm, which brings an impressive roster of premier data content partners along with it. We discuss the possible potential of this deal and what it might add to Opus’ other procurement-centric solution provider, Hiperos, and what it can mean from a bigger market perspective.more ▸
Concur is one of our 50 Providers to Know. We will be highlighting 100 companies (50 to Know, 50 to Watch) from our 2015 Spend Matters Almanac over the span of 100 days. Practitioners are encouraged to browse the categories listed in our Almanac to find the provider that best fits their needs.
Concur has been a part of SAP’s cloud offering since December 2014 (alongside earlier procurement related acquisitions such as Ariba, Fieldglass and Successfactors). Most Concur users primarily associate the firm with expense reporting, but the SAP business unit has more arrows in its quiver.
In Part 1 of our series on procurement platforms, we started discussing various characteristics of platforms and gave some examples of these solutions, namely Concur (now a part of SAP). In this PRO research brief, we will analyze what Concur and its platform offers and how the provider brings the platform benefits to life. But how has Concur built its platform? And how, exactly, does the provider differentiate itself from all these other procurement platform “posers?” Read on! We will also discuss how procurement organizations can distinguish between actual platforms and those just using this powerful term as a sales tactic.more ▸
Good, clean supplier diversity data are needed for a number of requirements – but how do you get there? If you ask your accounts payables team who among your suppliers qualifies as small-, minority- and women-owned business enterprises, you’ll likely get a blank stare or an incomplete list with some good guesses, at best. Follow these steps to get your diversity reporting back on track.more ▸
Spend Matters had the opportunity to talk with Bindiya Vakil, CEO and founder of Resilinc, about the impact of the recent events in Tianjin, China, where chemical explosions have killed at least 160 people and injured at least 1,000, as well as caused more than $1 billion in insurance claims for the direct damages and disrupted operations at one of the world’s busiest ports. The following Spend Matters commentary details how practitioners can apply lessons learned from the disaster into their GSCRM strategies.more ▸
As our Spend Matters PRO analysis of procurement key performance indicators (KPIs) continues, we will turn our attention to additional metrics by which you can measure procurement performance including supply base development and spend under management. We will also examine how to discover if organizational procurement KPIs are off balance, favoring one area over another or the strategic over the tactical, or if they’re just right. While intended for everyone in procurement from buyers to chief procurement officers, this series is particularly suited for individuals and organizations looking to put in place the right measurement foundation to change how procurement is viewed by the business from a function that only reduces input prices and “keeps the production line running,” to one that brings new areas of value, from supply chain risk reduction to creativity and innovation.more ▸
Have you noticed that more procurement solution providers lay claim to being “platform” providers these days? What is the difference between an app provider and a platform provider? And does it even matter to procurement or others in general? We think it does, and we’ll tell you why. In subsequent briefs, Spend Matters will continue to clarify and elaborate on the platform concept/model and its importance for procurement.more ▸
RFXs of all kinds are a way of life for procurement. Buyers write RFPs often, so they should be experts, right? One would certainly hope so for the direct side, or companies would be in trouble – as well as for many indirect categories. However, in our experience, there is at least one glaringly troublesome RFP type where buyers get in the way of themselves – and that is when going to market for procurement software solutions.more ▸
This research brief is intended as an aspirational piece for more transactional-focused procurement team members who are aiming to add value to procurement and the business beyond mere efficiency improvements and price reduction efforts. It is our hope that this series will leave you with a laundry list of prioritized ideas and open your mind to the qualitative side of the business – and the ways in which you can begin to measure procurement contribution and key performance indicators (KPIs) to quantify the return of the various activities you’re up to. n the first installment of our introduction to KPIs and related considerations, we will examine why KPIs matter and how to use them and discuss basic procurement metrics, the role of innovation in setting measurement variables and how certain KPI approaches can mislead.more ▸
Browz is one of our 50 Providers to Watch. We will be highlighting 100 companies (50 to Know, 50 to Watch) from our 2015 Spend Matters Almanac over the span of 100 days. Practitioners are encouraged to browse the categories listed in our Almanac to find the provider that best fits their needs.
Salt Lake City-based Browz addresses corporate supplier management needs, particularly in the contractor qualification and policy compliance areas. The solution is well worth looking at for any company needing contractor onsite readiness and workforce compliance assessments.
We continue our Spend Matters Plus series on contract lifecycle management (CLM) today with Part 7. So far, we have covered a lot of ground, explaining what CLM is (a decidedly unsexy acronym that, when properly implemented, can generate quite attractive results on its own, and even more when integrated into broader buy-side and enterprise-wide processes), discussed the CLM framework and talked about which solutions are required to support the full CLM process from an end-to-end procurement perspective.We have also covered what we believe to be “must-have” capabilities and “should-have” features of any CLM solution. Here we conclude our in-depth review of contract management solutions with a discussion of supporting “nice-to-have” capabilities that, while not present in all or even most solutions, can greatly increase the power, usefulness and even the value of such a solution to your organization.more ▸