As companies look for new ways to remain competitive in their markets and industries, procurement is playing an important role–with a focus on the new breed of procure-to-pay solutions to give them a needed edge.
This paper provides insight for organizations that want to transform their current P2P capabilities by improving operations visibility, stakeholder collaboration and overall procurement value within the company. However, before making any important decision regarding P2P, we encourage organizations to take an honest look at where they stand in terms of IT maturity, as well as assess how to take their technology to the next level without increasing total cost of ownership (TCO).
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Pierre Mitchell walks readers through how to connect the often disconnected internal silos of supplier enablement, sourcing, and contract management.
This paper won’t dive into the mechanics of spend analytics related to identifying potential savings from strategic sourcing (e.g., reduced pricing via competitive bidding to aggregate spending to preferred suppliers). Instead, we will focus on how firms can expand their spend analytics to identify and fix non-compliance scenarios that cost real money and introduce real business risk.
Organizations as well as individuals should absolutely think about what they do all day, and then compare it to the allocation of what they should be doing all day. Being disciplined about what holds value for you (and your stakeholder) and then measuring and managing (including building capabilities to achieve those measures) to that is a foundational competency that is often overlooked!
Spend Matters - Free Research Download
Independent workers can be engaged through cost-saving direct sourcing approaches, allowing businesses to gain access to this important talent population, with compliance risk mitigated.
By framing categories holistically and flexibly you can find new ways to model and manage supply markets to extract more value out of the supply chain. Supply markets are constantly changing and innovating, and so must your approach in managing supply. Off-the-shelf market intelligence reports and category strategies developed years ago will not likely give you a big boost. As such, you must look at category management as a living, breathing thing. It is both an art and a science. This ebook can only give you a broader palette of colors and some methods and tools to consider.
There is no one-size-fits-all P2P implementation strategy, but the tactical advice we provide in this download is crucial to consider for success. You may have to bend the points to fit your organization’s needs, but if you follow these best practices, you will avoid a lot of the nightmare scenarios we've heard about from our readers.
Download this paper to learn how to breathe life back into your services procurement and contingent workforce program!
In this introductory analysis, we begin our exploration of how to wring every bit of value out of spend data. From basic Accounts Payable (A/P) spend analysis by supplier to more advanced topics, this is definitely the place to get started.
For some, an invoice is a piece of paper sent by a supplier to a customer with varying amounts of detail about services performed or items purchased or to be purchased, along with other details including mailing and remittance information, the maturity date of the invoice and the conditions, such as penalties, if the maturity date is not met. But in practice, an invoice is much, much more...
The target audience for this paper is not only internal (brand management, C-level, finance, legal, line of business owners, procurement) but also sales, where SCRM visibility provides an advantage with risk-averse prospects and clients. As for takeaways, we’ll explore SCRM’s potential ROI, including the main drivers to consider when building a business case. This doesn’t just include supply base assurance and brand management - but also immediate hard savings through process efficiency, avoidance and reduction of crisis costs, and insurance premium reductions. What’s not to like about that?
In the industrial B2B world, and in the MRO (maintenance, repair, and operations) world in particular, relevance and personalization via a complexity-taming intelligent system is exceedingly important. If strategic capital assets are not maintained with the right items and services, whether it's new tooling and lubricant for a planned maintenance job or critical spares for unplanned emergency maintenance, millions of dollars can be lost in minutes and hours. Supplier catalogs matter: a lot.