The Requisition / PO Management Category

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Does Your Internal Procurement Team Really Need to Manage Tail Spend Purchases?

Simfoni

Spend Matters welcomes this sponsored article from Simfoni. 

Although each individual tail spend purchase category or supplier may seem relatively small and insignificant, when taken as a whole, the combined tail spend purchases of an organization often equal the amount spent with the company’s biggest supplier, or at least one of the top suppliers. For this reason, it is important that tail spend purchases are properly managed to avoid unnecessary costs, wasted man-hours and non-compliance with internal purchasing rules and standards.

RFP Writing for Procurement Solutions – Stop Repeating the Same Mistakes!

RFP

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.

The Latest in Hackett’s eProcurement & P2P Efficiency Metrics: PO and Invoice Automation

At Zycus Horizon last month, Richard Waugh led a presentation and discussion (which I’ll cover in a separate series) looking at the provider’s approach to “guided buying” and eProcurement. Sharing the stage was an early customer, The Mentor Network, who spoke about their experience selecting and rolling out the Zycus tool. Richard framed this talk, however, with some of the latest metrics from Hackett Group regarding P2P performance efficiency. Anyone building a business case for new or expanded investment in P2P will find these updated metrics and benchmarks useful to say the least.

Can (and Should) We Eliminate Purchase Orders (POs) Entirely?

Even though I don’t know Tom Linton personally, all of my intelligence sources in the procurement world say that he is one of the best “thinkers” in the business. He has also seen some quite remarkable things that can’t – or at least have not – been discussed, given the competitive advantage his efforts have brought organizations he’s overseen. But Linton is one for sharing ideas as much as possible, especially contrarian ideas, such as eliminating purchase orders (or “POs”) entirely. He introduced the notion in a recent Procurement Leaders post, suggesting the idea came out of the following mandate to his team: “Eliminate work before you automate, automate work before you move it and always make sure you improve outcomes in any given scenario.”

Nipendo: Further Proof of the E-Invoicing Led Platform Transformation

Until late this spring, Nipendo focused entirely on the local Israeli market. But it recently opened offices in the US and is building a North American team. Like Tradeshift, Nipendo is using e-invoicing as the initial “app” or Trojan Horse to introduce what really amounts to a next generation model for connectivity at all tiers of the supply chain and across functional areas and transaction types (as opposed to just facilitating e-invoicing on-boarding and connectivity for indirect spend and related transactions). Nipendo comes off as one of the most engineering-centric organizations we’ve gotten to know in the procurement and network space. They were founded in 2007 in Israel, and the product spent 24 months in development before formally launching. Today, with its regional client base in Israel, they claim over 15,000 organizations fully on-boarded in “less than three years” with an average “290% year over year” growth in network/transaction volume.

Maverick Spend: 12 Ways to Fix Internal Non-Compliance Beyond “The Stick” [Plus+]

In part one of our maverick spending series, Maverick Spending is Your Friend: Don’t Chase It, Ride It, we highlighted that while maverick spending in its own right is generally bad, its root causes often highlight problems with the procurement System (with a big “S”) that, if fixed, improves not only maverick spending, but other areas of procurement performance. In this second part of our series, we will highlight some proven practices to improve maverick spending performance beyond merely chastising malfeasant requisitioners.