The Professional Services Category

Accenture Spend Trends Category Insight

Top Challenges and Questions Facing Corporate Legal Departments [Plus+]

UpCounsel

The market landscape for legal services is much more dynamic than it may appear to most outside observers — and as a result we are seeing a number of meaningful trends in the market.

The provider landscape is rapidly changing. Firms are specializing in certain legal matter areas, and non-law firm providers are emerging as viable alternatives to perform certain types of legal work at lower cost and higher efficiency. And as in almost every industry and market, technology is playing a more transformational role in the legal services market, with implications for both buyers and suppliers.

In this article, we share some of the frequently asked questions we have received from GCs, and our responses and recommendations.

4 Habits That Can Sink a Procurement Consultant’s Career

consulting

So you told the corporate world that you’re going to go do it your way. (Congratulations, and cue inspirational theme song.) And for the purpose of discussion, let’s assume that you have taken care of the basics in going freelance: building an emergency fund, buying healthcare insurance, setting up retirement contributions, getting the right business insurance and so on. I have been on all sides of the client-consultant relationship. I have engaged and managed consultants as a corporate client, I have engaged consultants for my own clients and I am also a consultant myself. So, I’ve seen where the landmines are and learned how to avoid them. Here are the top temptations that can send you straight back to a corporate role — the “fateful four” — definitely in order of importance.

3 Ways Contingent Workforce and Services Procurement Professionals Can Stay Ahead in 2017

services procurement

New Year’s resolutions are a fun, time-honored practice that are often made with the best of intentions – yet, quite often, they melt away like the the gray-brown remnants of snow by the time February and March roll around. However, we’ve resolved to help contingent workforce and services procurement professionals stay on top of their game as we head into 2017. Last week, Spend Matters’ Research Director of Services and Labor Procurement, Andrew Karpie, gave his look ahead on platform-intermediated work trends in the coming year, including possible scenarios stemming from how digital platform intermediation for work and services will increasingly become “a mainstream sourcing mechanism in the enterprise.” So how exactly can procurement practitioners in this space stay ahead?

Why Top Global 100 Law Firms are (Still) Behind in Procurement

UpCounsel

The legal profession is arguably the last one champing at the bit to innovate. To be fair, there are several factors that prevent the legal industry from leading change or transformation efforts when it comes to process and practice. But in many ways, the inability to change (or at least change quickly) built into the inherent partnership environment trickles down into how law firms’ procurement leadership thinks about — and ultimately carries out — their function.

What WorkRails’ Latest Funding Round Means for Procurement Practitioners

Catalant

WorkRails, founded in late 2015, announced that it has raised $2.3M in a seed round led by Boldstart Ventures and including Lerer Hippeau Ventures, BoxGroup, and Lattice Ventures. The Long Island-based company, co-founded by Work Market and OnForce co-founder Jeff Leventhal, brings a unique play to the growing and rapidly evolving digital work intermediation platform space. While that realm tends to be thought of in terms of categories like freelancer marketplaces, crowdsourcing, and FMS, it is actually highly heterogeneous and continuously spawning innovative models. So how does WorkRails work, and what does it mean for you?

Executive Q&A with KPMG’s Samir Khushalani: ‘Procurement Needs a Few ‘Wins’

Now that the Big Ten football season is underway, let’s turn our attention to a trailblazer from one of the Big Four. Samir Khushalani is KPMG’s Americas practice leader for the procurement and operations advisory service line and is responsible for strategy setting, thought leadership, executive client management and engagement delivery aspects for this practice. We caught up with him in an email conversation to get his current view on the procurement function and sector.

Deloitte’s Game-Changing Analytics Platform Puts ‘Strategic’ Back into Sourcing

FM Global Resilience Index

In a massively complex global supply chain, wouldn’t it be nice to have an extended network redesign tool that lets you not just map your internal network or your extended but also automatically infuse external intelligence into the platform to help you do “opportunity identification” per the n-step sourcing process? And wouldn’t it be nice to have this strategic supply chain sourcing analytics platform served up in the cloud and built by leading edge companies and the experts who serve them? This is where Deloitte’s Global Sourcing Insights (GSI) analytics platform comes in.

HourlyNerd Rebrands as Catalant, Continues Metamorphosis as a Unique Enterprise Talent Platform

Catalant

HourlyNerd, a work intermediation platform (WIP) that enables enterprises to access highly qualified freelance business talent, has announced it is rebranding to Catalant. The announcement comes on the heels of the company receiving $22 million in private equity funding earlier this month. The “new name — a combination of catalyst, brilliant and talent — reflects the company’s leading role in redefining how enterprises access top talent to solve critical challenges,” the company said in a press release.

Technology, Platforms, Disruption and the Transformation of the Consulting Industry [PRO]

consulting

Few would disagree that the professional services industry is mature — business and delivery models and the actual industry structure have remained practically unchanged for decades now. This industry is not only mature but also massive and complex.

A long state of industry maturity is almost always a predictor of an approaching period of significant change — disruptive, transformative and most often both. As in other industries, technology and online platforms are already making their mark — and will do so increasingly.

HourlyNerd Closes $22M Series C Round, Moving Beyond the Marketplace Platform Model

FusionOps funding

HourlyNerd, founded at Harvard Business School in 2013, announced its $22 million Series C funding round, bringing total investment in the company to more than $33 million. The latest round was led by General Catalyst Partners with participation from Highland Capital Partners, GE Ventures, Mark Cuban, Greylock Partners and Bob Doris of Accanto Partners. The press release about the recent investment stated that the latest infusion of capital “will fund continued development of HourlyNerd's proprietary enterprise software solutions and educate the market on the future of flexible business talent.”

Lessons From KPMG Clients: When Procurement Strategy, Transformation, and Technology Intersect [PRO]

Oracle

Over the past few months, the Spend Matters team has had the chance to speak to a number of KPMG clients who used the consultancy in various capacities in and around procurement strategy, transformation and technology. The lessons learned point to the importance of not only selecting the right consulting partner for multiple initiatives but also, from a solution lens, understanding the levers a firm can pull to get the most from technology vendors during the technology deployment phase of a consulting relationship. This Spend Matters PRO brief offers a case analysis view of KPMG from the client perspective, including what it was like to engage the firm and key lessons learned from having KPMG implement and manage cloud-based procure-to-pay (P2P) deployments. These discussions continue to support our thesis that procurement organizations should never manage their own e-procurement deployments or let their selected technology vendor handle such efforts on their behalf — even if a technology vendor is more than capable of managing a deployment on paper.

Deloitte Introduces Pixel to Enable Crowdsourcing for Professional Services

Deloitte Pixel

Deloitte recently announced the launch of Deloitte Pixel, what it calls a worldwide enterprise crowdsourcing offering. According to the press release, “This capability enables Deloitte teams and clients to leverage external crowds to access specific, difficult-to-find expertise, collaborate to develop new products or ideas and even design, build and test new digital assets.” As noted on the Deloitte Pixel web page, Pixel “zooms into an issue or problem to break it down to its core components (i.e. pixels).