The Suppliers Category

Tradeshift’s “Sellers Club” Targets Bottomline and Accounts Receivable Technology With a Many-to-Many Offering

Sarika Garg, Tradeshift’s chief strategy officer, took the podium for a few minutes at Tradeshift’s analyst day to introduce what the procurement/finance technology provider is calling its “Seller’s Club.” The concept is that the “Club” is a membership, not a subscription. While a supplier-paid offering, Garg made the point of noting that Tradeshift remains free for suppliers to transact. Our take is that the Club appears to be a new offering for suppliers that is taking aim at another class of solutions entirely compared with procurement, accounts payable automation and supplier network offerings aimed at the buyer — where Tradeshift started.

Tradeshift Analyst Day Dispatch: “Do You Want Amazon to Own Your Supplier Relationships?”

On a well-timed East Coast swing, Lisa Reisman (Azul Partners’ fearless CEO) and I dropped by New York City for Tradeshift’s analyst day, the Tradeshift Innovation Summit. Christian Lanng, Tradeshift’s founder and CEO, kicked off the afternoon with a history lesson, drawing the parallel between Salesforce and the path he suggests that Tradeshift is on. He began his talk by noting that in 1999, Oracle, Siebel and SAP were “fighting it out over CRM” when the market was “fragmented, verticalized and on-premise.” But Salesforce came along with a different vision, building “software for the end-user” with an emphasis on “cloud” and eventually its “app” platform.

Building the Business Case for SRM (Part 5): Assessing Stakeholder Satisfaction

Spend Matters welcomes this guest series from Sean Harley, co-founder and CEO of LUPR.

Part 5 of this series on developing the business case for investing in supplier relationship management (SRM) capabilities focuses on assessing stakeholder satisfaction with current SRM practices. When SRM is neglected, the speed of contracting, supplier responses to performance issues, and the ease of collaboration between all parties — suppliers, procurement and internal stakeholders — tends to suffer. The best way to identify key pain points is to conduct thorough surveys of both your suppliers and internal stakeholders. This will help you understand the wider picture, highlighting common threads that harm your ability to work effectively with suppliers.

Building the Business Case for SRM (Part 4): Reducing Supplier Risk

risk

Spend Matters welcomes this guest series from Sean Harley, co-founder and CEO of LUPR.

In this post in our series on developing the business case for investing in supplier relationship management (SRM) capabilities, we focus on reducing supplier risk. Supplier qualification (SQ), a subcomponent of SRM, enables your organization to identify suppliers with weak quality management processes, thereby minimizing your exposure to supplier noncompliance with safety, insurance, environmental and security requirements. In addition, SQ facilitates root cause analysis with suppliers performing poorly.

Building the Business Case for SRM (Part 3): Enabling Supplier Innovation

disruption

Spend Matters welcomes this guest series from Sean Harley, co-founder and CEO of LUPR.

Supplier innovation doesn’t have to be as exciting as SpaceX landing two Falcon Heavy rocket boosters back on the launch pad in Cape Canaveral (like they did in February), though this stunning feat was made possible in part by contributions from their suppliers. Value-added innovation is anything promoting efficiency or mitigating risk and can be as mundane as getting a supplier to license technology or form a JV with a supplier to support expansion in overseas markets. Just like making financial investments, promoting supplier innovation requires a portfolio approach.

Building the Business Case for SRM (Part 2): Improving Procurement Efficiency

Spend Matters welcomes this guest series from Sean Harley, co-founder and CEO of LUPR.

In this second installment of our series on developing the business case for supplier relationship management (SRM) capability investment, we are focusing on improving procurement efficiency, which can dramatically reduce non-value add (NVA) activities performed by procurement. SRM software eliminates many of these resource-draining manual tasks, promoting efficiency and enabling reallocation of scarce procurement resources.

Supplier Management: When the User Experience Guides Functionality (Part 3) [PRO]

This Spend Matters PRO series provides an insider perspective on what separates best-of-breed supplier management technology providers from the pack. It emphasizes both the user interface and underlying solution capabilities of technology solutions, and, in certain cases, how the two come together. We also provide a hint at what’s to come throughout the rest of 2018 and 2019 — that is, what top performing providers will be introducing when “procurement 2020” becomes reality rather than punditry.

Need to catch up on what we’ve covered thus far? Part 1 in our series explored messaging, chat and collaboration; guided survey and template creation; and leading functional elements that enable the uploading of templates and documents. Part 2 unearthed differentiation among leading capabilities that support supplier categorization and tagging, scorecards (inclusive of alerting and predictive analytics), corrective action management, innovation management and master data management.

As our series concludes today, we will turn our attention to:

  • Guided supplier workflow management
  • Relevant risk identification for both parties
  • Integrated smart catalog and product management

HICX: Vendor Snapshot Update (Part 2) — Product Strengths and Weaknesses, Customer Perspective and Summary Recommendations [PRO]

HICX is representative of a provider that excels in a single platform-level element of a particular discipline (i.e., master data management within supplier management), using this element to build competitive differentiation and a strong customer following in a highly competitive marketplace. While much of our original Spend Matters Vendor Snapshot from 2016 (see Part 1 and Part 2) on HICX remains an accurate review of the provider in 2018, the MDM specialist has leveraged its core strengths to deliver adjacent capabilities and product line extensions.

This two-part Spend Matters PRO Vendor Snapshot Update provides an update to our previous analysis HICX. Part 2 provides updated strengths and weaknesses, customer reference insight and summary recommendations on when to prioritize HICX as a shortlist candidate. The first installment of our 2018 update provides 2018 key facts on HICX, a solution overview, a recap of its overall footprint and solutions, insight into new features and capabilities, and a competitive landscape update.

Building the Business Case for Supplier Relationship Management Investment

category management

Spend Matters welcomes this guest series from Sean Harley, co-founder and CEO of LUPR.

Investing in enhanced supplier relationship management (SRM) capabilities is frequently discussed within procurement organizations but not often executed. The immediate need to achieve annual savings targets and satisfy stakeholders often drives a focus on sourcing, with its easily demonstrable return on investment, at the expense of SRM. Yet the basic value derived from robust SRM includes incremental gains in traditional procurement focus areas, such as price improvement, and even greater value derives from more aspirational areas such as risk reduction and the promotion of innovation and supplier diversity.

Forming a Strategic Partnership Program: What They Are and Why You Need One

change of control clauses

Spend Matters welcomes this guest contribution from Craig Laufer, vice president of strategic partnerships at Nielsen.

Are you tapped out on the value created by your standard supplier relationship management program? If so, you should really consider creating a strategic partnership program. A strategic partnership program is an initiative that aims to transform the relationships of your most strategic suppliers into true strategic partners. This goal is accomplished first and foremost by creating and nurturing great relationships with your strategic partners, ultimately leading to improved supplier relationships, increased influence on traditional procurement topics, and creation of business value outside of the typical buyer-seller relationship.   

LexisNexis Entity Insight: Vendor Snapshot (Part 1) — Background and Solution Overview [PRO]

Almost overnight it seems that the supply risk management (SRM) solution area has exploded with new options. Available solutions fall into a range of categories. On one end of the spectrum, technology suite vendors are adding basic supplier risk functionality, providing what amounts to a starter package for procurement organizations to quickly “risk categorize” their suppliers. While solutions like this may lack the feature and monitoring depth that more advanced procurement and supply chain organizations may require, they deliver a combination of integrated ease of access and use that can be difficult to pass up as an add-on to existing capabilities.

At the other end of the spectrum, more advanced supply and supply chain risk management solutions now provide multiple dimensions of insight through integrated software and content packages that can stand on their own as an independent solution area separate from traditional “source-to-pay” suites and modules or integrate with existing systems. These types of solutions, which include LexisNexis Entity Insight (LNEI), the subject of this analysis, are typically best suited for procurement and supply chain management teams where risk management practices and solution requirements are well developed or more strategic.

This Spend Matters PRO Vendor Snapshot provides facts and expert analysis to help procurement organizations make informed decisions about LNEI and whether its solution is a fit for their supplier and supply chain risk management needs. Part 1 of our analysis provides company background information and a solution overview, as well as recommended fit suggestions. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.

Ask Spend Matters: Should You be Asking for Prices in the Supplier Prequalification Process?

finance

A North America-based reader from a professional services company recently wrote in with a question about asking for prices in the supplier prequalification process. She noted that procurement organizations in the public sector tend to ask for prices in the RFI process and then again in the formal RFQ process, whereas in the private sector they typically ask for prices in the RFI process only when they need to explore the market, saving price requests for the RFQ. Why does the public sector need an RFI with prices and then an RFQ, likely with the same prices? It seems inefficient to this reader, who wonders if there are some advantages to this approach that she is missing