GEP is one of our 50 Providers to Know. We will be highlighting all 100 companies (50 to Know, 50 to Watch) in our 2015 Spend Matters Almanac over the span of 100 days. All companies are listed alphabetically in the almanac, and purposely not ranked. Our first 17 will include those that will be at the ISM Conference on May 3 and 4. GEP is the proverbial Swiss Army knife of the procurement world.
Category Archives: Technology
Spend Matters welcomes this guest article by Vroozi. In our personal lives, we use our mobile devices to make purchases and requests for service; why should this stop when we walk (either physically or virtually) through the doors of our workplace? New purchasing means shopping for our business needs the same way that we shop for our personal wants. Think about how you spend your day. Think about how many seemingly mindless, menial tasks you do regularly that are now enhanced by technology. We understand that the majority of these capabilities weren’t even available 5 or 10 years ago. Technology has continuously revolutionized the way we live. It has reinvented the wheel. And technology continues to shape the world of procurement.
Jason Busch, founder and managing director of Spend Matters, has teamed with Vroozi to deliver a new “buying manifesto” for the procurement market as it is today and where they think it will go, moving forward. Declaration of the New Purchasing: A Buying Manifesto outlines 20 concrete examples on the expected evolution of procurement in the years to come. This is an absolute must-read for all procurement professionals. Get your FREE copy today!
I’ve been at Tungsten Insights 2015 in Atlanta throughout the day (I’m moderating a supplier panel and giving the morning presentation on Thursday) and have been jotting down notes from the formal talks and conversations with various attendees – employees, suppliers and, of course, those from procurement and A/P departments using Tungsten. Check out what items have stood out to me thus far...
Spend Matters welcomes this guest article by Jeff Muscarella, partner, IT and Telecommunication, at NPI, a spend management consultancy, focused on eliminating overspending on IT, telecom and shipping. For some IT vendors, transitioning offerings to the cloud has been a rocky road. And, then there’s Adobe. Unlike many of its peers, Adobe Systems is a case study in how IT vendors can evolve quickly and successfully from an on-premise perpetual license software model to a cloud-only product strategy. In a few short years, the company has migrated its portfolio of digital media and marketing offerings to a cloud-based delivery model that features instant availability of upgrades and easier sharing.
This is your last chance to register for tomorrow’s webinar, Procurement as a Service, or “Virtualization” – New Model (and New Technology Platform) Required. Join Pierre Mitchell, chief research officer at Spend Matters, and a special guest from GEP at 11 a.m. CDT to find out how to shift procurement into gear, to the happiness of your stakeholders. Register here!
How do we get procurement out of neutral? The answer is multi-tiered and will require a new technology platform, but the result will mean more engaged stakeholders and a higher return on value. Join us Tuesday, April 21 at 11 a.m. CDT for the webinar, Procurement as a Service, or “Virtualization” – New Model (and New Technology Platform) Required. Register here!
The solution marketplace for services procurement is highly fragmented and is confusing to even expert practitioners and advisors. Given this, it is exceptionally important to become smart about your selections and the reality of actual capability vs. claimed, not to mention a provider’s ability to support process improvements across services supply chain needs. At times, expert industry analysts, managed services provider (MSP) thought leaders and consultants lack context and understanding outside of highly specialized areas to provide credible advice that spans the spectrum of buying and managing professional services.
Last week, Finnish technology firm Basware announced it will acquire Procserve, which is headquartered in London. According to the stock market release on the acquisition news, (Basware is quoted on the Finish stock exchange), “The acquisition price is approximately EUR 25.9 million. In 2014, the net sales of the acquired business amounted to approximately EUR 9.6 million.” Procserve has a strong position as a provider to the UK public sector, particularly with its marketplace technology, having grown from what was initially an early in-house venture into e-procurement by the UK government itself. Esa Tihilä, CEO of Basware, was in London recently to meet and present to the Procserve staff and explain the vision for the future. I was able to catch up with Tihilä as he headed back to Heathrow Airport.
In the areas of e-invoicing and invoice discounting, getting the right technology in place is essential. But deploying the right strategies to manage supplier expectations and maximize supplier participation in programs is arguably just as important – if not more – to overall success. I recently caught up with a long-time P2P process and systems owner at a Fortune 500 food/beverage company who offered tips he’s found have worked over the years in 2 large-scale supplier enablement projects designed to support P2P, accounts payable and trade financing efforts that he’s gone through.
We admit it rhymes. But here at Spend Matters, we are amazed at the limited penetration of many VMS tools today, even inside companies that have access to them with an MSP concierge showing a path to scale and adoption. So repeat after me: Just say yes to a VMS. But don’t just engage a provider (or multiple VMS solutions). The decision to use a VMS is easy – or should be. Focusing on scaling adoption past a small percentage of overall services spend is more difficult.
Last night, Andrew Karpie and I landed in Phoenix, Arizona, for IQNavigator’s customer event. Within the vendor management system world, we’ve historically found customer events to be more about the combination of sharing best practices among participants and previewing future product evolutions (centered on sharing emerging capabilities and features) than anything radical or surprising. Such a customer conference agenda is something that would not be possible in the all too familiar “keep-it-close-to-the-chest” nature of most procurement types that attend other events. The level of free flowing ideas and the willingness to share between participants at customer conferences, whether hosted by IQN, Beeline or Fieldglass, is at once both refreshing but surprising for those who come from the traditional procurement and supply chain world. But IQNavigator is shaking things up a bit year.