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Deloitte 2019 CPO Survey — Insights Needed on Procurement Mastery in Action

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Deloitte has opened up the 2019 version of its annual CPO survey for participants to share their insights. It’s important to participate because the survey’s depth, rigor and relevance produce influential findings that have set the gold standard for procurement studies.

And this year’s edition is very exciting, especially for me. I’ve been doing procurement research and benchmarking for 20 years, and I was thrilled to not only be given a sneak peek into this year’s study design but to be made me an honorary member of Deloitte’s extended research team to provide input. So, my challenge became how to make a great product even better.

But you can participate too. CPOs and their direct reports are needed — and participants will get an intelligence briefing about the study’s results. At the end of this article, I’ll get more specific about the ROI of participating in this year’s study.

After EcoVadis’ Sustain 2019: Product Strategy, Roadmap and Prospect/Customer Analysis (Part 3) [PRO]

EcoVadis, which provides vendor ratings and scorecarding for sustainability and broader CSR metrics as a component of an integrated “many-to-many” supplier network and platform, has an aggressive product roadmap to expand how users interact with and leverage the supplier intelligence, which is at the very core of its value proposition.

Today, in this final installment in this Spend Matters’ PRO series based on our analysis from the EcoVadis Sustain 2019 customer event, we turn our attention to the future direction of where EcoVadis is expanding its capabilities. We also include customer/prospect recommendations.

In previous Spend Matters PRO coverage on EcoVadis, we offered a recap and update on the provider’s most recent capabilities and solution footprint — and an analysis of where EcoVadis fits in the broader supplier management and supply chain risk management landscape.

Public Spend: A Look at 4 Value Levers for Public Procurement

It’s time to check in with Public Spend Forum, a sister site, to see what’s happening in public procurement. This week, we’ll focus on an article that offers some in-depth tips on four value levers for public spend. PSF offers a simple list — and then a lot of detail about each item. Click above for the highlights.

The CPO’s Conundrum (Part 1A): How Outside-In Issues Are Shaping the Course of Procurement [PRO]

If you were to ask a roomful of CPOs what was their top concern was, for this year or even the coming decade, chances are the majority would lead with cost management and supply assurance.

This makes sense. Within the hierarchy of procurement value, providing the right goods and services at the right time and place, preferably at the right (or better) price, constitute a foundation without which organizations cannot function.

Because of this requirement to secure and manage supply markets, procurement’s value proposition to the business is ultimately defined by its ability to access and derive value from markets. This means procurement value, then, is driven heavily from an outside-in perspective. That value starts with assurance of supply, just as top-line growth and brand development are foundational to sales and marketing.

The problem, however, is that supply assurance and cost reduction are just two of a host of broader issues that are being pushed to the front of mind for today’s CPOs. Because the CPO must manage multiple changing supply markets, and because those supply markets are affected by numerous external forces over which the CPO — let alone the business or even some governments — has no ability to influence, the CPO’s agenda is in reality much broader than assuring supply and reducing costs.

This brings us to what we call the CPO’s conundrum: Procurement organizations are primarily measured by the C-suite on supply assurance and cost control, but the agenda that the outside world is setting for the CPO is far bigger than just that. How, then, can procurement leaders meet the agendas recognized and prioritized by management while also addressing the equally (or perhaps more) important agendas of the changing, external supply world?

This Spend Matters PRO series examines the roots and resulting challenges of the CPO’s conundrum. In this brief, the introduction to this series, we discuss the current items on the CPO agenda, as well as the outside-in forces that are most notably butting their way in.

In subsequent installments, we will analyze overarching issues on the new CPO agenda individually, including corporate social responsibility (CSR) and sustainability, digital business strategy, political and economic instability, and regulatory risk.

Proctrix

Proctrix Procurement software automates and streamlines the processes of eSourcing, Spend Analysis, Contract Management, Supplier Management, Financial Savings Management, and Purchase Order creation. Proctrix is the go-to sourcing and procurement solution for mid to large-sized companies. Compa...

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Simfoni: What Makes It Great (Spend Analytics SolutionMap Analysis) [SolutionMap]

Spend analytics tools that stagnate age quickly. But solution providers that listen to customers, practice agile software development and bring a deep knowledge of procurement can flank a large cross section of incumbents — quickly.

Simfoni, one of the top-ranked spend analytics software providers by both Analyst and Customer scoring in the Spend and Procurement Analytics SolutionMap, is a case in point. Founded in 2015, Simfoni delivers above-the-benchmark performance in numerous functional areas and is convincingly a Value Leader across all spend analytics buying personas. Join us in exploring what make Simfoni great, based on the latest functional and customer SolutionMap benchmarks from Q2 2018.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider Subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief explains how the provider excels and where it beats the SolutionMap benchmark, concluding with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider the vendor.