The Industry News Category

Highlights from ADP Analyst Day: It’s Not All Permanent, It’s Also Contingent

Eved

Spend Matters attended ADP Analyst Day last week, held at the ADP Innovation Lab in New York City. At more than $13 billion in annual revenue, ADP is the largest provider of payroll services and one of the largest providers of human capital management (HCM) solutions in the world. Over the past six decades, ADP built its business on the basis of the permanent W2 employee workforce. But as we all know, nothing is permanent — particularly in workforce, where for businesses and workers things are becoming increasingly contingent. And ADP, which acquired WorkMarket earlier this year, is clearly rising to meet the changes in the market, on both the business and worker side. As you might expect, this is not a casual undertaking for ADP but a studied, strategic initiative now moving into gear.

Commodities Roundup: Catalytic Converter Thefts, A $200 Billion Tariff Announcement

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, our MetalMiner editors scour the landscape for what mattered this week.

Why Procurement Must Prepare Today to Use Cognitive Software in 2050: Insights from LevaData’s 2018 Cognitive Sourcing Summit

digital

Just as it’s unlikely that most people will be regularly using self-driving cars any time before 30 years from now, procurement is probably not going to be widely using AI-based “cognitive” software within the next five or even 10 years. But that doesn’t mean organizations should sit around waiting for the technology to come to them. The talent, technology and operational strategies procurement leaders choose today will determine whether or not they are capable of using artificial intelligence-based software in the future. In fact, failing to prepare for the use of cognitive technology today could mean procurement is unable to use those tools even when they have become widely adopted, putting the business far behind its digitally mature competitors.

Supply Chain Disruption and Customer Viability Top Finance Leaders’ Risk Management Worries

Finance departments are struggling to manage risk, a recent report from Dun & Bradstreet finds, and many finance leaders “believe their own efforts to manage, monitor and predict risk pose a moderate to high risk to their businesses.” In order to find out how today’s finance leaders are managing risk and what their future risk management plans look like, earlier this year Dun & Bradstreet commissioned a study of approximately 1,100 finance professionals, the vast majority of whom were based in the U.S.

GHX’s Purchase of Medical Columbus is a Blueprint for Global Expansion and Future Acquisitions

Although disruption may be a popular buzzword in boardrooms, one of the more striking features of business today — especially in healthcare — is the entrenchment of the established order. So, when a relative youngster like the Global Healthcare Exchange (GHX) quickly finds its way into “the club" (and is changing the way business is conducted), it's notable. Having successfully planted itself as a connector and enabler of business between increasingly supersized health systems and an even more powerful supply side, GHX has done just that. 

Tariffs: A Black Cloud Marring the 2019 Commodity Outlook

There was one word that loomed over the proceedings at The Right Place/Supply Chain Management Council's Commodity Trends 2019 Outlook event Wednesday in Grand Rapids, Michigan: Tariffs. From the multiple expert presentations to numerous audience questions and comments on the topic, it didn’t take much to pinpoint the effects of tariffs as a recurring theme of the half-day conference, at which MetalMiner Executive Editor Lisa Reisman presented our 2019 metals outlook. Indeed, the current onslaught of tariffs — including those implemented under Sections 201, 232 and 301 of U.S. trade law — seemed to be one of the primary concerns on everyone’s minds.

Forging a Cognitive Future for Procurement: LevaData Kicks Off Second Annual Cognitive Sourcing Summit

platform

Spend Matters is on the ground in Santa Clara, California, today for the 2018 Cognitive Sourcing Summit. Hosted by LevaData, an emerging provider of e-sourcing software, the event, now in its second year, brings together leading procurement professionals to examine trends in strategic sourcing, with an emphasis on how artificial intelligence and machine learning are changing the way organizations approach this foundational process. While LevaData plans to expand upon several of the themes it first explored at its inaugural Congnitive Sourcing Summit, in October 2017, we will also be looking to hear about the latest updates to the vendor’s platform, as well as the results of some relevant research about procurement’s readiness to effectively use AI-powered technology.

What’s Up with Contingent Workforce Programs and MSPs: A Chat with EverHive’s Brandon Moreno

webinar

The old way of sourcing and managing contingent workforce and services is on its way out, that much is certain. Compared with the first MSP offerings from the 1990s, the number of options for engaging external workers and their work outputs has expanded considerably, making the task of choosing the right kind of program or solution partner for a business all the more difficult. To get a sense of where the industry has been and where it might be going, we sat down with Brandon Moreno, president of EverHive, for a quick Q&A on the state of contingent workforce programs and MSPs.

Has Blockchain Reached an ‘Inflection Point’? New Deloitte Research Measures Executive Attitudes

Now that the early hype around blockchain has died down, what do executives around the world really think about the distributed ledger technology that promises to transform everything from ingredient tracking to banking? To find out, researchers from Deloitte recently surveyed 1,053 senior executives in seven countries (Canada, China, France, Germany, Mexico, the U.K. and the U.S.) who are familiar with blockchain and with their companies’ blockchain investment plans. All respondents represent companies with at least $500 million in annual revenue.

Coupa Acquires DCR Workforce: First Take Analysis and Competitive Landscape Segmentation [PRO]

Coupa recently announced it had acquired the technology assets of DCR Workforce, a leading provider of contingent workforce/services (CW/S) procurement software. By so doing, Coupa has taken a giant leap forward in providing its clients a comprehensive platform that will now include the option of industrial-strength CW/S sourcing and management capabilities.

For many organizations, CW/S spend (including temporary staffing, independent contract workers and a broad range of categories of services provided by external suppliers) represents a considerable portion of external spend (including good and materials). And much of this spend — particularly outside of temporary staffing — is unmanaged today, in terms of procurement or HR’s ability to fully influence and orchestrate it.

In this Spend Matters PRO series, we take an in-depth look at what the acquisition of DCR means for Coupa and DCR, as well as to their customers. In Part 1 of this series, we look at what Coupa is getting by acquiring DCR, in terms of both business strategy and DCR’s specific capabilities. Based on DCR’s footprint, we also segment the competitive landscape into six primary competitor types.

Part 2 will consider DCR’s strengths and weaknesses within the competitive CW/S market. Subsequent PRO briefs will examine customer recommendations, competitive landscape implications and related considerations.

Hail to the Value Leaders: Saluting SolutionMap’s Best Performers in Q3 2018

The coveted top-right corner of each SolutionMap represents the best performers in each procurement software category. Labeled as Value Leaders, these companies demonstrate the best balance of customer satisfaction and technical capability as judged by the Spend Matters analyst team. For the Q3 2018 SolutionMap, released Tuesday with newly added vendors and debut maps for Contingent Workforce and Services, here are the Value Leaders across all categories.

Coupa Acquires DCR Workforce, Giving its Services Maestro a Full Symphony Orchestra

Coupa announced Tuesday it had acquired the technology assets of DCR Workforce, a Boca Raton, Florida-based vendor management system (VMS) provider, according to a press release. Coming on the heels of Labor Day, Coupa could not have picked a more appropriate holiday week to expand its services procurement and labor footprint. DCR’s software enables businesses to source and manage contingent workforce and services. The DCR solution will now be marketed as Coupa Contingent Workforce, part of Coupa’s broader platform.