- April 16, 2014 4:23 AM
When people hear the term supplier engagement, many jump to the thought of supplier development. But engagement goes far beyond just the measurement and improvement of existing suppliers. During my talk at Coupa Inspire this week, I’ll be discussing what I term “the new supplier engagement." This includes the need to develop an unobstructed view into supplier engagement, one that factors into account many different priorities including new sourcing models, risk management (and the containment of risk), specification/demand management (and collaboration on requirements), and tapping supplier creativity in new ways to save money and to reduce risk.
- April 16, 2014 2:34 AM
We define trade financing as the combination of receivables financing and payables financing (inclusive of supply chain finance) and purchase-to-pay technologies, including e-invoicing. To say that interest in this area among large multinational corporations, banks, funds, ERPs and network/SaaS players is merely significant would be inaccurate. Rather, it would seem that the current emerging world of trade financing and its intersections with procurement, accounts payable and treasury-centric technology solutions is an area where more and more leaders – and I do mean leaders – are aware of what they don’t know, rather than what they do. Those which are taking action (a small minority at this point) are looking to enable a business model that can either help shape a new market opportunity; extend additional convention (e.g., invoice discounting) to drive greater adoption; or build a model that takes shares away from incumbents in the trade financing market (especially banks and factors). Incumbents that have not yet moved to understand the role of new technologies (e.g., supplier networks, e-invoicing, dynamic discounting, technology-driven approved payables financing, etc.) will either get with the program or lose business.