Spend Matters welcomes this guest article by Dan Warn, VP at BravoSolution. Last year Congress passed the Digital Accountability and Transparency Act (DATA Act), designed to expand the amount of federal spending data available to the public. The federal government is now under tremendous pressure to improve spending transparency, cut costs and be more efficient than ever. For many agencies, attaining these goals might feel like a considerable undertaking, however, it’s also an opportunity to look for a better, more strategic approach to procurement.
Category Archives: Spend Management
Partner enablement and managing indirect spend is a tried and true method for controlling costs. However, direct connectivity still has a ways to go before it gets on the same level as indirect procurement. Pierre Mitchell, chief research officer at Spend Matters, created a nifty checklist for tier-1 manufacturers and procurement professionals to follow in order to execute direct connectivity. Direct Procurement Execution: What’s Changing? is now available for FREE download, but only for a limited time. Be sure to secure your copy today before it goes back behind the PRO paywall!
This third and final installment of an exclusive preview of a forthcoming research series sponsored by BravoSolution that we created for our Spend Matters PRO subscribers. Consider it the “chef’s choice” tasting bite that the chef (that would be me) sends out in advance of the full multi-course experience. We hope you enjoyed it. Please contact me if you have any questions on the topic – and be on the lookout for the full version of the pending series. In Part 1 of this 3-part Spend Matters PRO series, we introduced Category Management 2.0 as “The lifecycle management of spend/supply categories that meaningfully impact enterprise performance” and why it’s superior to category sourcing processes locked inside of an n-step sourcing process. In Part 2, we also began discussing some approaches to take your category management processes to the next level. In this installment, we’ll continue the discussion and wrap up with a few closing thoughts.
As Pierre Mitchell, chief research officer, wrote in Part 1 of his Spend Matters PRO series on the subject, category management 2.0 is "the lifecycle management of spend/supply categories that meaningfully impact enterprise performance." Earlier today, we published Part 2 of this series: How Technology Helps Take Category Management to the Next Level – Category Management 2.0 (Part 2). As the title suggests, Pierre takes us through some approaches to elevate and improve your category management processes. How does a procurement professional do this? Pierre offers some suggestions such as using market informed sourcing and "micro" segmenting your spend into logical categories.
This second part of a 3-part series is an exclusive preview of a forthcoming research series sponsored by BravoSolution that we created for our Spend Matters PRO subscribers. Consider it the “chef’s choice” tasting bite that the chef (that would be me) sends out in advance of the full multi-course experience. We hope you enjoy it. In Part 1 of this 3-part Spend Matters PRO series, we introduced category management 2.0 as “the lifecycle management of spend/supply categories that meaningfully impact enterprise performance” and began discussing approaches to take your category management processes to the next level. In this installment, we’ll continue the discussion and introduce some approaches to make this happen.
This is Part 1 of a 3-part series is an exclusive preview of a forthcoming research series sponsored by BravoSolution that we created for our Spend Matters PRO subscribers. Consider it the “chef’s choice” tasting bite that the chef (that’d be me) sends out in advance of the full multi-course experience. I’d like to thank BravoSolution for giving me free reign to really explore this topic in the detail it really deserves (and also a shout out to my peers who helped in developing it). OK, let’s get on with it… Procurement organizations, like the stakeholders they serve, are continually tasked to do more with less. They need to reduce complexity and squeeze out costs, both internally and within the supply base, and also address broader issues such as innovation, customer engagement, risk management, globalization, sustainability and various industry-specific mandates. Unfortunately, procurement’s toolbox isn't always full of the tools needed to get these other jobs done. In this Spend Matters PRO series, we’ll address how to free category management from the shackles of strategic sourcing to unlock broader procurement value creation. It’s more than the usual “yada, yada, yada,” and we hope that PRO members gain value out of this series.
It’s rare that married couples play off of each other in business. I can’t think of a better example than Tania Seary, the mastermind behind Procurious who has built numerous successful procurement recruiting, training and consulting businesses in Australia, and her husband Chris Lynch, who is CFO of Rio Tinto. Chris generously offered his time to speak at the recent Procurious event in London and gave a truly fabulous talk offering tips for procurement leaders to work more effectively in the business when it comes to pitching and delivering big ideas (the subject of the summit itself). Coming from a seasoned CFO, this talk was priceless. A big thanks to both Tania and Chris for making this happen! In a series of posts, I’ll share some of the highlights from Chris’ chat, starting first with his observations on why we spend money in companies, especially from a procurement angle.
This past week Pierre Mitchell, chief research officer, tackled 2 more procurement myths on our Chief Procurement Officer website. Myths Nos. 14 and 15 are part of a series of 25 (at least) myths that Pierre thinks need to be disproved. Check out the full articles: Procurement Owns Spend Management: Procurement Myth No. 15. Make sure to read up on all our procurement myths on the CPO website. Pierre plans to debunk 25 (at least) of the top and most infuriating procurement myths out there.
Brand new, hot off the press research from Pierre Mitchell, chief research officer at Spend Matters, is now available with Direct Procurement Execution: What’s Changing? Pierre provides a checklist to follow for executing direct procurement partner enablement. Direct spend enablement is vastly different from indirect procurement and thus requires a different set of knowledge and skills to function effectively. Once corralled, managing indirect spending is a proven commodity in controlling costs. Take it away, Pierre!
Spend Matters welcomes this guest article by James Martino, chief executive officer at Avotus Corporation. Would your business willingly pay 50 cents for a service that was offered at 10 cents? If you are using wireless services, you might be doing just that. In the constantly evolving world of mobility, the need for carrier-spend optimization continues to be of paramount importance within the enterprise. With major shifts in carrier rate plan offerings, migration trends away from unlimited data plans and more flexibility on pricing for voice and text, never before has there been such a need to organize, analyze and optimize your mobile spend. And you need robust tools to help you vigilantly manage against overspend.
SciQuest launched its Version 15.1 of its suite at its recent NextLevel customer event in Washington, D.C. At the show, the Spend Matters team had the chance to look at all of the modules in SciQuest’s latest release and also preview some of the items slated for the 15.2 release this summer. The 15.1 release represents a critically important step for SciQuest in the P2P area in an increasingly competitive market – especially in conjunction with an announced partnership with Transcepta for e-invoicing and supplier enablement. Most important, 15.1 marks a critical step toward a full-featured and integrated source-to-pay (S2P) platform for SciQuest. Yet core P2P capabilities matter as well – beyond sourcing and supplier management. This Spend Matters PRO research brief provides an analysis of the P2P capabilities and enhancements in 15.1 – and offers our perspective on cases where SciQuest e-procurement is likely to be a strong shortlist contender for customers.
SciQuest has proven to be one of the source-to-pay (S2P) leaders in higher education and life sciences (as well as some public sector areas). The organic traction it has realized in these markets – albeit with increasing competition from ESM Solutions, Periscope Holdings (BuySpeed/BidSync) and Unimarket within higher education and state/local government – signifies that it has been successful even without a fully integrated suite (until now) in its core industries. Currently, with the new integrated suite value proposition and particular strength at the intersection of P2P and supplier management (and rising capability in sourcing), it is likely to be in an even better position to compete in these and new markets. If you’re considering other providers such as Ariba, Coupa, SAP, Oracle and Ivalua for integrated S2P, this analysis will provide context to understand if SciQuest should be added to your vendor shortlist.