As we have seen in Part 1 and Part 2 of this series, e-invoicing has produced great benefits for governments in terms of tax collection and streamlining its own control processes, for which they have implemented mechanisms that companies must comply with, ranging from the simple to the complex. For both buyers and suppliers, this represents a new technological challenge — especially for companies with operations in multiple Latin American countries.
The Suppliers Category
Spend Matters welcomes this guest post from Martyn Davies, director of product management at Rocket Software.
The biggest manufacturing brands in the world demand rigorous data workflow processes between them and their suppliers — and it’s easy to see why. There is no doubt that supply chains will only continue to become more complex, and increase the level of risk, especially when they are geographically dispersed. Global companies need to implement robust processes to ensure that data is managed, processed and protected to the highest standard when it is exchanged and shared with others.
Spend Matters welcomes this guest post from Anthony Ryan, head of procurement operations at eir.
We have a pretty excellent P2P system at eir. It’s in the cloud, easy to use and delivers one of our primary objectives as a procurement team: spend under management. Our study of how best to address the needs of the SRM and CLM programs led us to consider the pros and cons of best-of-breed point solutions versus fully integrated end-to-end solutions that service all things procurement.
Jason Busch, founder and head of strategy at Spend Matters, will be joined by Marco H. de Vries, senior director, product marketing at OpenText Business Network, on Tuesday, Dec. 13, at 10 a.m. CST, for an illuminating discussion around the digitial economy, IoT and how they relate to P2P, the sharing economy, artificial intelligence, platform business models, social collaboration, blockchain and more. Inform you and your team on the future of supplier enablement, connectivity, supply chain visbility, sourcing and total cost optimization. Sign up here!
You have a bit more time to register for Preparing Your Suppliers for the Digital Economy: You Should Have Acted Yesterday, which will now take place Tuesday, Dec. 13, at 10 a.m. CST. Get smart and hear the chatter on the future of supplier enablement, connectivity, supply chain visibility, sourcing and total cost optimization and more, as Jason Busch, founder and head of strategy at Spend Matters, and Marco H. de Vries, senior director of product marketing at OpenText Business Network, trade thoughts and ideas.
David Burrows (sustainability supply chain manager at Subway / IPCoop) and Pierre-Francois Thaler (co-founder and co-CEO of EcoVadis) join Pierre Mitchell (chief research officer at Spend Matters) next Tuesday, October 11 at 10 a.m. CDT for Improving Your Supplier Compliance Odds When the Cards Are Stacked Against You. They'll answer:
- How can I leverage supplier CSR performance to turbocharge sourcing, supplier management, product innovation, and supply chain design efforts – rather than slowing them down?
- How do I get both suppliers and diverse internal stakeholders not just aware, but motivated for the needed change?
- How do I develop a business case that aligns to economic value added models that the C-level care about?
- What other brand leaders have gone before me to show how to "connect the dots" between compliance, risk, and reward?
When the chips are down and the cards stacked against you, improving supplier compliance can get lost in the shuffle. Regardless, you'll need to take the proper measures to protect your business and grow your brand. Join Pierre Mitchell, chief research officer at Spend Matters; David Burrows, sustainability supply chain manager at Subway/IPCoop; and Pierre-Francois Thaler, co-founder and co-CEO at EcoVadis on Tuesday, Oct. 11, at 10 a.m. CDT, for Improving Your Supplier Compliance Odds When the Cards Are Stacked Against You.
Improving and automating the supplier payment process remain top priorities for finance and accounts payable professionals in the year ahead, according to recent research. Tipalti, a provider of automatic supply payment solutions, released the results of its survey aimed at identifying the top supplier payment trends of 2016. It showed 44% of respondents identified streamlining and automating supplier payments as a top business goal for the next 12–18 months.
The world is undergoing a fundamental transformation to a services economy, fueled primarily by the digital disruption happening within our personal lives and within industry. Within business, digital technology is allowing companies to unbundle and rebundle their value chains (i.e., physical goods, information, money and people) in innovative new ways that can make those value chains more valuable by not only making them smarter but also making them more flexible, personalized and on-demand for the customer who craves the ideal of “free, perfect, and now.” And the key concept in making this happen is the concept of the service.
The supplier data and information business is broken. The Spend Matters analyst team came up with this premise when we saw that a number of well-known supplier content and enrichment providers had no reason being on the 50 to Know and 50 to Watch lists this year. Our research and discussions suggest that incumbent providers in this sector have lost the confidence of the market, their clients and even members of their organizations in their ability to deliver solutions that hit the mark. Time has stopped for some — they are selling solutions better suited for the year 2005 than 2015.
A majority of manufacturing sourcing professionals expect to increase or maintain their supply base this year, with buyers looking to source goods from new areas around the world. Nearly 40% of manufacturing buyers surveyed for the latest MFGWatch 2016 report expect to grow their supply base in 2016. Thirty-seven percent said they will maintain their current supply base. The MFGWatch report, which identifies trends and issues in the U.S. manufacturing industry, showed manufacturers are generally optimistic about the year ahead and expect their firms to grow in 2016.
We all hear about the rise of social collaboration in business beyond just posting our résumés on LinkedIn. Many of us are likely using at least a few social tools in our personal lives — Facebook, Instagram, Twitter, Snapchat. Even more are using social tools built on peer-to-peer and crowdsourcing-type models. For example, UberX or UberPool have become ubiquitous as crowdsourcing a method of getting from Point A to Point B using peers rather than professionals. Yet in business — and especially within procurement — social collaboration has been largely limited to the use of LinkedIn or rudimentary collaboration capabilities built into select procurement technologies.