Back in March, I provided
Back in March, I provided
Back in March, I provided
In between presenting this morning at Tungsten Insights 2015, and facilitating a panel discussion later today with suppliers on supplier networks and e-procurement solutions (or marketplaces), I sat in for a breakout session led by Selina Yankson, head of campaign management for Tungsten. Selina shared a number of items in her “secret sauce” to maximizing supplier enrollment. She also talked about new approaches Tungsten is taking, as well as enrollment components of Tungsten’s next generation supplier portal. We’ll leave the details of the portal for future analysis as well as some of the key lessons learned over the years in scaling global programs. But here are a few of Selina’s quick tips that jumped out from her talk.
Every so often, we have a discussion with an organization and come away with page after page of insights. Such was the case with a recent interview with a P2P process owner at a large Fortune 500 food/beverage company that had worked with 2 different vendors (Taulia and Xign) over multiple years for supplier enablement and enrollment for connectivity, invoicing and planned trade-financing activity.
Spend Matters recently spoke to a P2P process owner at a Fortune 500 beverage company. The hour-long conversation turned out to be a treasure trove of tips and tactics for improving the supplier enablement and onboarding process for e-invoicing and trade financing. Today, we continue the analysis looking at how this organization got more from the careful use of carrots rather than sticks as it brought suppliers up and running with Taulia (after previously using Xign). With supplier enablement and trade financing programs, this large food and beverage company found that carrots (and frequent, active and friendly communications) tend to work better than sticks, especially with strategic suppliers.
Even with an initial well-constructed strategy in place with support tactics, it is inevitable in any supplier enablement and e-invoicing deployment that things will not always go as planned, or issues will arise that couldn’t possibly have been pre-determined. One issue for an organization we recently talked to was around communications to suppliers requesting information. It turned out that a surprising number of suppliers going through the onboarding process believed the outbound email and phone-based efforts were “phishing” efforts designed to steal their confidential information (e.g., banking details).
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.
Along with my colleague Jason Busch, I recently spent 3 days at the SciQuest customer conference in Washington, D.C., talking to dozens of customers and sitting through many product demonstrations and breakouts. SciQuest has invested significant money and effort to develop a new integrated source-to-pay (S2P) platform entirely, and the launch of its new version 15.1 signifies a material step forward in this area. This Spend Matters PRO analysis will provide an introduction to SciQuest’s new suite capabilities and roadmap. As I myself was an outsider to this firm before the event, it will be most useful starting from a low knowledge base on the provider as well as for those who may wish to consider adding SciQuest to their S2P vendor shortlist along within Ariba, SAP, Oracle, Coupa, Ivalua and others – and to understand where the provider comparatively fits today.
Spend Matters welcomes this guest article by Rick Long, vice president at BravoSolution. “When all you have is a hammer, everything looks like a nail.” Unfortunately, this common phrase is all too often representative of the approach taken by many so-called “strategic” sourcing organizations, where sourcing professionals go blindly into strategic sourcing exercises using the wrong tools or techniques for the situation.
This is Part 2 of our PRO series that began earlier this week. What should procurement do regarding supplier diversity? There is a clear shared-value benefit for the buy-side to actively finding and engaging with SMWBE firms. We don't need to create artificial reasons to satisfy photo ops and artificial statistical goals. Today's SMWBE is tomorrow's innovative growth success and its acquisition target! For future success, the inherent shared value derived from engaging with SMWBE firms is critical to both companies and country.
Supplier diversity – do procurement organizations really know what all it entails and how to tackle or implement such a business program? Thomas Kase discussed this issue and shared insights he gleaned from the recent ISM summit on the topic, on Spend Matters PRO earlier today. The article, How Should Procurement Tackle Supplier Diversity? Lessons from the ISM Summit, offers information on what procurement's role is in supplier diversity, what it means and provides recommendations on how to successfully run a supplier diversity program. He also provides lessons learned from the ISM Supply Chain Diversity Summit in Atlanta in February.
In February, the Institute for Supply Management held its national Supply Chain Diversity Summit in Atlanta, which covered a range of issues facing procurement and supplier diversity, but it had a particularly strong focus on HR issues, perhaps because those are near and dear to ISM's mission around training organizations and individual practitioners to perform better. We usually hear about various aspects of HR issues at most procurement events - e.g. lack of training, retention difficulties, rotating people across functions, developing a "sales" mindset and more are all evergreen topics, all over the world. The heavy HR component at the ISM event surprised me a little, and I'll share my thoughts on why.
Consistent and effective supplier performance management programs are one of the secret weapons of top performing direct material supply chains. Leading programs measure suppliers on strategic factors such as innovation, sustainability and revenue growth. The same efforts should cascade to services supply chains as well (but often do not). Examples are there to follow: best in class procurement organizations are increasingly tapping suppliers to gain innovative ideas – from driving sustainability programs to focusing on revenue growth. Yet such collaboration is all too often lacking with services suppliers.