The Category Management Category

Icertis Raises $50 Million in Series D Round, Plans to Invest in AI Capabilities and Global Expansion

funding

Icertis announced Thursday it has raised $50 million in Series D funding, bringing the company’s total funding to $96 million. This funding round was led by Meritech Capital Partners, with PSP Growth and Cross Creek Advisors also taking part. In the near-decade since its founding in 2009, Icertis has become a leader in the contract management market, counting around 50 customers in the Global 500 and about 100 customers in the Global 5000. Moreover, as of Q4 2017, Icertis ranks top in Spend Matters Contract Lifecycle Management (CLM) SolutionMap. The provider is a solution leader and a value leader across all four SolutionMap personas.

Top Supply Chain KPIs for 2018: Practitioners Weigh In

For procurement and supply chain professionals, a refresh of their organization's key performance indicators (KPIs) have undoubtedly been on the brain since before the winter holidays. Now that we’ve leapt into 2018, many realize it’s time for less thinking and more action.

Ask Spend Matters: Is a Group Purchasing Organization (GPO) Right for Me?

A reader recently wrote in with a question about how to find group purchasing organizations (GPOs) or purchasing consortia. This individual is a U.S.-based sourcing manager at Heidelberg, a multinational company that provides equipment and services for the print media industry. The reader told us that his company is thinking about bidding out for copiers next year, and he became interested in looking into GPOs after hearing about them at a local ISM meeting. However, a casual internet search for GPOs yielded no shortage of results.

The Hidden 80/20 of IT Spend: Where to Mine for Savings

sourcing technology

This Wednesday I'm participating in a webinar titled “The Paradox of IT Spend: How to Influence the Biggest Cost Reduction Opportunity and Claim Savings.” The gist of the event is that there are significant savings in tackling what some may consider “sacred cow” categories within IT spend that are not so sacred at all. But what are the best opportunities, and how much in potential savings is on the line? The answer to the first question is more nuanced, as it centers on targeting budgets (and suppliers) based on the cost of maintaining systems. The answer to the second question, however, is simple: lots.

Is the Tail Spend Problem Solved with Technology or with Managed Services?

Tail spend is a thorny problem — and an important one.

Tail spend is an amalgam of more granular spending: one time, low dollar, maverick, tactical by design. It doesn't even have a common definition understood by all, and it is generally a mess.

So, how to solve this problem? The design ideal is the concept of guided buying, where you start with the end customers (i.e., employees who need something) at the time of need and then guide them down to get what they need to accomplish their goals (but also within corporate policy). It’s an entryway to all procurement, not just the procure-to-pay (P2P), process, so you need to get it right and make the experience count.

But, who is the guide? Is it a tactical buying group in shared services or outsourced provider? Or is it a technology solution? Let’s discuss.

Designing a Spend Category Taxonomy Properly is Harder Than You Think (Part 1: Do This, Not That) [Plus+]

category management

We had a question from a client of ours about whether there were any guidelines or an overall methodology to coming up with a spend category taxonomy. It’s a simple question, but there isn’t a simple answer. So, we thought we’d offer some insights to help guide your efforts. But before we say what to do, there’s a quick recommendation on what not to do. In this first of a two-part Spend Matters Plus series, Chief Research Officer Pierre Mitchell explores how to think about creating a spend category taxonomy, pitfalls of incorrect approaches, and how to embrace an approach that cuts across categories and spend types.

Procurement and Travel: How Healthy is Your Relationship?

travel

Spend Matters welcomes this guest post from Katie Virtue, director of category management, travel, at Corporate United.

You probably know that corporate travel programs offer a significant cost savings opportunity and, as a result, are a high priority for most organizations. What you may not know is that the successful management of your travel program relies heavily on the relationship between procurement and travel teams. Although financial goals are important to all organizations, you must not forget the customer experience component that comes into play with these offerings, and also make sure that company travel policies protect employees.

Improve Your Category Management Performance: Report and Webinar From Future Purchasing and Spend Matters

category management

The Future Purchasing Category Management survey and report is now in its third edition, and has established itself as the definitive piece of research work in its field. Future Purchasing, as a consulting firm specializing in “CatMan,” bring its own insights to the results. That means the final report is far from just being a presentation of the data from the several hundred survey respondents, representing organizations from many different sectors and countries.

Mega Spend Aggregation: 10 Ways to Supersize your Market Basket (Part 1) [Plus+]

category management

Most procurement organizations complain about diminishing savings on re-sourced categories – and rightly so. But rather than beating the same horse, why not hitch up more than one, and in new ways that you may not have considered? In this Plus piece, we’ll outline five of them, with the first one being "expand the 'lots' in your current market basket."

Why It’s Important for Logistic Category Managers to Be the Gateway to Emerging Disruptive Technologies in the Marketplace

trade

Spend Matters welcomes this guest post from Rodrigo Sánchez, consultant in strategy and operations management at GEP.

Procurement strategies aim to identify the service providers that can offer the products and services an organization requires at the most competitive prices. At the same time, they also need to meet the requirements established by the different departments across the company. Logistics, however, defines the strategy that will allow companies to move raw materials into manufacturing plants and distribute its finished goods across its supply chain. And all of this aims to be cost efficient. So how is it possible for procurement to identify additional opportunities for logistics, since it does not own the logistics strategy?

ICYMI: Tackling the Complex, Multifaceted “Hairy Beast” of Risk Management

risk

Last Friday, Spend Matters Founder Jason Busch and Chief Research Officer Pierre Mitchell teamed up to present the webinar Risk and Compliance Management: Embedding Risk Management in Procurement and Supply Chain. Busch and Mitchell began with a segmentation of the types of supplier and supply chain risk and compliance management technologies out there, before moving into the topics of how to embed these technologies throughout your procurement and supply chain functions. They discussed the best ways to create linkages with other areas of procurement technologies, as well as how to create a procurement culture that is risk-aware.

Category Management Survey and Report: Groundbreaking Results and Webinar Next Week

category management

Consultancy Future Purchasing completed late last year the largest category management survey of its kind ever attempted (as far as we know). With more than 300 respondents from a range of sectors and countries, the results provide much fascinating material to help understand just what differentiates the best exponents of “CatMan” from the pack. And if you have any interest in the topic, as a category manager or a procurement leader looking to improve performance, or indeed as a less mature organization in the field, we are confident you will get something useful out of our upcoming webinar next Tuesday, March 14, at 11 a.m. EST.