Guest Posts Content

Why 2019 is the Year for Companies to Address Working Capital Challenges to Avoid 2020 Crisis

Spend Matters welcomes this guest post from PJ Bain, CEO of PrimeRevenue.

“Hello transformation. Meet reality.” Those four words sum up where the global business climate has taken us in 2018, and where it will lead in 2019. Whether in the context of industry or geopolitical transformation, the economic implications of transformative change have exposed vulnerability. How can companies fund transformation in an economic climate that’s equal parts encouraging and concerning?

Procurement’s New Reality: A Business Case Blueprint for Innovation

Procurement is a critical function, yet it has challenges being seen as a strategic and transformative player, despite its enormous potential to drive enterprise cost savings and growth. However, forward-thinking procurement professionals are radically transforming business as usual and sitting alongside other key changemakers within the enterprise. Many of these forward-thinking procurement leaders have taken note of the huge digital transformation effected by sales over the last 20 years and have applied many of these operational tactics to sourcing. By emulating the sales framework and approach, procurement executives can usher in a new era where they can better establish priorities, allocate resources, engage stakeholders and react to changing directives. In the process, procurement will also deliver maximum business impact, with a new respect there for the taking.

From Palm Pilot to AI: How Today’s Technologies Will Shape the Modern Finance Office

Spend Matters welcomes this guest post from Melissa Hendrick, Yooz North America's vice president of marketing. 

Remember the early days of personal digital assistants and cellphones? Before they were “smart”? We were wowed by the first hand-held computers like the Palm Pilot and BlackBerry, but few among us knew then that in a few short years, we would become dependent upon them in all aspects of our personal and business lives. Technology and time march swiftly on, and business moves fast. Senior finance executives need to understand how today’s emerging innovations are already impacting business operations, profits and productivity, and how to adapt or consequently fall behind.

Supplier Inclusion: Moving Beyond Spend to Measure Impact

Spend Matters welcomes this guest contribution from Brian Peters, Gilead Science’s director of procurement, and Steven Wuerth, Gilead Science’s senior manager for supplier inclusion and data analytics. 

Supplier diversity can have positive impacts on businesses and communities, but history suggests that program implementation has been difficult and, in some cases, borderline ineffective. In CVM Solutions’ 2018 State of Supplier Diversity Report, only 32 percent of respondents rated their supplier diversity programs as very effective,2 up 7 percentage points from their 2017 report3. This white paper by Gilead, a biopharmaceutical company with suppliers worldwide, contains reflections and learnings from our work to progress Gilead’s robust supplier inclusion program and to move beyond spend as “the” historical metric for supplier diversity so we can inspire and measure a broader impact.

How Procurement Can Help Save The World From ‘Lease-Pocalypse’

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In less than 90 days, one of the biggest accounting changes the world has ever witnessed will take effect. Starting in January 2019, a new set of rules will require companies to begin transferring almost $3 trillion worth of leases onto their balance sheets. Going forward, leases will be center stage in financial reports. To apply the new accounting standards, businesses must really know the leasing contracts. Only the procurement team has that deep knowledge.

Spend Matters welcomes this guest post from Steve Keifer, LeaseAccelerator's vice president of marketing.

7 Tips: A Guide to Mastering Procurement Transformation

Spend Matters welcomes this guest post from Alex Saric, Ivalua's chief marketing officer.

As the role of procurement continues to evolve, a new approach is required. Leaders are transforming their organizations with a new mindset, new processes and new technology. Having worked with hundreds of leading organizations as they transform procurement, I’d like to share these seven tips for procurement managers that should serve them well.

With Business Up But Politics Volatile, Uncertainty Is the New Certainty for Procurement

Deloitte Global CPO Survey 2016

Spend Matters welcomes this guest post from Naseem Malik, managing partner at TYGES International.

Life should be good for procurement professionals these days, if conventional wisdom is to be believed. Companies are hiring, spending and facing growth-related opportunities/challenges not seen in almost two decades. There’s renewed confidence with the business-friendly policies, and there’s a sense that a 4% GDP growth can be the new normal for the U.S. economy. But reality is not quite as rosy. From vitriolic trade negotiations to overnight tariffs, sanctions and currency fluctuations, companies are facing levels of volatility not seen in decades.

These 3 Data Problems Could Be Draining Your Company’s Resources

Spend Matters welcomes this guest post from Brian Alster, global head of supply and compliance products at Dun & Bradstreet.

When you’re working on estimating the costs of your third-party relationships, the last thing you want to find are holes or inaccuracies in your data. It can leave you unable to make informed, data-driven decisions. This fear might explain why, according to Forrester research, almost a third of enterprise architects and chief data officers spend at least 40% of their time discerning the credibility of their data before using it to make critical decisions.

Debunking the Myths of Optical Character Recognition: What It Is and How It Affects Accounts Payable

e-invoicing

Spend Matters welcomes this guest post from Justin Holden, vice president of sales, Yooz North America.

OCR: Another one of those technical buzzwords that we’re hearing a lot about these days. It’s of particular interest in fintech (another new buzzword that stands for “financial technology”) and even more specifically in accounts payable. But what is it? More important, what isn’t it? And how does it make a difference in the accounts payable (AP) workflow?

Analytics Connects the Dots — and Data — to Improve Healthcare Supply Chain Performance

healthcare

Spend Matters welcomes this guest post from Brad Stillwell, senior director of product strategy at Birst, an Infor company

Data analytics is transforming healthcare, informing every decision from doctors’ diagnoses to long-term patient risk management. While the spotlight is, deservedly, on data-driven transformation within the four walls of healthcare facilities, analytics also has the power to improve the performance of supply chains and entire healthcare ecosystems to deliver a significant competitive advantage.

The 5 Key Benefits of Effective Buying

A wealth of worthwhile benefits can be gained through adopting an effective buying approach. By making just small changes in our approach to buying, we can expect to see significant value and benefits as a direct result. You might ask why you should do anything differently at all when individuals and organizations already manage to buy well without any kind of intervention. But to truly appreciate why we should consider a new buying approach, we must first recognize the size of the prize that can be obtained.

Prices Move South for Brazilian Soft Commodities on Oversupply and a Weak Real

sugar

Spend Matters welcomes this guest post from Corrina Hutchings, senior market analyst at Mintec.

During the Rio Olympics 2016, we wrote an article on Brazil and the country’s major commodities, predominately sugar and coffee. Differences between the market place back then and in recent months are notable, to say the least.