Category Archives: Procurement Financials

A Sector in Turmoil? Procurement in the Financial Services Industry Face a Range of Challenges

Remember to register for our webinar tomorrow titled "A Sector in Turmoil? Challenges for Procurement in the Financial Services Industry," sponsored by the procurement software and solutions provider SciQuest. That’s this Thursday, May 8 from 9 to 10 am CDT (mid-afternoon of those of you in Western Europe). Along with SciQuest’s Lindsay Sloan, I’ll be looking at the issues and challenges for procurement in the sector and proposing some steps procurement professionals might want to consider.

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Driving Sustainable Value in Procurement Outsourcing – Don’t Assume It’s a No-Brainer

The Procurement Outsourcing (PO) industry has rapidly emerged. It grew at 10% in the last year and reached $220 billion in terms of managed spend, according to Everest Group. They also predict PO to grow at a rate of 15-23% annually over the next 10 years. Yet, while the PO market is on the rise, first-time contracts are often leaving clients unsatisfied and hesitant to renew. In a two-part series, I’ll examine the common pitfalls that cause this phenomenon and the steps to avoid them.

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Procurement and Finance: How to Close the Budget Loop (Survey Results!)

In today’s economy, many companies are looking for ways to improve their budget management practices with the main objective of increasing their spending visibility and control. Following our last post (Procurement and Finance: How to Close the Budget Loop), in which we invited you to take a brief survey, we have gathered data from over 100 participants. We then complied and analyzed the data to identify trends.

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Hackett P2P and eProcurement Effectiveness Metrics: Where Procurement ROI hits the Savings Road

- November 12, 2013 9:04 AM | Categories: Analytics, Procurement Commentary, Procurement Financials

Earlier in this series on the Hackett Group metrics that Richard Waugh shared at Zycus Horizon, I focused on eProcurement and broader P2P efficiency. Today, I’d like to turn your attention to overall effectiveness metrics that I believe go even further in justifying increased efforts and attention to eProcurement and e-invoicing activities. Warning: these high-level numbers will convince even spend curmudgeons to take action.

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Hackett P2P Efficiency Metrics: From Requisition to Discounting and More

Hackett Group has built a reputation as the gold standard for procurement benchmarking. Theses metrics are really just a “teaser” and Spend Matters thinks that organizations serious about understanding and improving relative performance would be well served to better understand how getting involved in this Hackett program can help them.

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How to Justify Spend Analysis to Finance/IT When There’s No Clear ROI (Part 2)

Yesterday, we discussed the first five of ten possible strategies to justify a spend analysis initiative to Finance/IT despite the Catch 22 that comes from not knowing the potential value that may come from the initial investment. Today we pick up with recommendations #6-10, ("Help IT...Help You!" to procurement-ize the quote from Jerry Maguire) and close with some final remarks and recommendations. PRO members, click on through. If you're a qualified practitioner who would like access to a free trial of Spend Matters PRO, please don't hesitate to reach out to Sheena:

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How to Justify Spend Analysis to Finance/IT When There’s No Clear ROI (Part 1)

Analytics are all the rage. And spend analysis is Procurement 101. So, getting some reasonable investment shouldn't be a problem, right? Wrong. The problem with analytics is that the identified value is all “option value.” You don't know how much value opportunity you will uncover with the analytics until you actually perform them (and implement the identified opportunities)! This article is designed to help you overcome this Catch 22 problem - we've prepared ten strategies to help you get the ball rolling with IT and Finance (even if the ROI isn't clear).

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Ask the Expert: How to Achieve Value Creation in Procurement (Beyond Just Cost Savings)

Sourcing and procurement professionals are used to bringing "value" by exploring the most cost effective solutions (and there's nothing wrong with that - it's what the majority of the c-suite pushes toward). Nowadays "value creation" is the magic word, and has everything to do with bringing innovation into your company. It also happens to be one of the most difficult things to measure and report. So join us for Ask the Expert this Thursday. Gert van der Heijden, editor of Spend Matters Netherlands, will be guiding you through how to truly achieve "value" beyond cost savings.

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Pop-Up Webinar: Writing an EDI, Supplier Network or E-Invoicing RFP? Ask These Qs

- October 22, 2013 11:29 AM | Categories: Ask the Expert, Procurement Financials, supplier networks

Join us this Friday, 10/24, from 10-10:30 am Central for Writing an EDI, Supplier Network or E-Invoicing RFP? Must Ask Questions! Practitioners and Plus/PRO subscribers will come away with a list of key questions to help frame and determine their overall supplier connectivity strategy and a shortlist of various providers to consider based on different requirements - plus a lot more. Register now!

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10 Reasons For Procurement to Work With Payments (Part 3)

Closing the payment gap – not just the invoicing gap – remains a Holy Grail for procurement organizations looking for greater oversight and control in transactional purchasing and even supplier relationship management. It’s also a means to bring finance and procurement organizations closer together – and to prove that finance is really procurement’s ally in the struggle to wrestle the maximum amount of utility out of P2P programs together, rather than separately. As my colleague Pierre Mitchell has noted, “any land grab is usually about job security built upon the pillar of bureaucracy.” In other words, finance and procurement must really be in the payables thing together.

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No Transparency for Microsoft Office 365

- August 14, 2013 2:30 PM | Categories: Guest Post, Procurement Financials, Solution Providers

Case in point #1: Recently, Microsoft began an Office 365 promotion which allows existing Office customers (perpetual license) to add Office 365 subscriptions on top of their existing enterprise agreements (EAs). While this allows businesses to easily add Office capabilities for certain users – something that’s next to impossible to do under perpetual license EAs – companies effectively pay twice for Office. They pay once for the perpetual license negotiated in their EA and again for the add-on Office 365 subscription fee.

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Gartner’s Global IT Spending Forecast: The Warnings Behind the Numbers

If you’re not ready for the holistic impact that BYOD will have on your IT spending, you may be in trouble. As my colleagues at NPI have said many times before, BYOD is driving higher spending in mobile device management, network security, bandwidth, and help desk/IT support. Now is the time for anticipating and mitigating these cost increases.

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