Tagged Content: L1

WIP Wildfire Alert: Peter Thiel’s Valar Ventures Adds Fuel to Fire With Lystable Investment

1A0499C042 This week it was announced that US-based venture fund Valar Ventures has invested $1.5 million in London-based startup Lystable. The news is a further indication that the use of digital platforms in the contingent workforce management space is a spreading wildfire that is being fueled by continuing investment. Lystable, launched and seed-funded in early 2014 by a former Google employee will use the new investment to continue to build out its design and development team and to build out customer support in the US. Lystable falls into an emerging category of diverse “technology based platform work intermediaries” that Spend Matters has begun explicitly covering this year.

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Next Generation Services Procurement – Work Intermediation Platforms: Not a VMS, MSP, FMS or Jobs Board

1ORM9KMFEW We recently published an introduction to work intermediation platforms (WIPs) on Spend Matters PRO. No, they are not a the darker side of a VMS for those looking to better “control” services procurement spend (thinking along the lines of “Fifty Shade of Grey” or our series “Fifty Shades of Pay” for that matter). Rather, WIPs are something new – even if they don’t require a new services procurement playroom. Find out what WIPs actually are and how they are bringing innovation to the field. Stay tuned, too, for future articles in this ongoing series on WIPs on Spend Matters PRO.

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When Finance Wants to Help Procurement, Start With the Reporting Relationship

Business Budget Spreadsheet A couple of weeks back, I had the chance to sit through a great presentation from Chris Lynch, CFO of Rio Tinto, in London. Chris spent a good deal of time on his view of procurement and procurement success – and how to make it a success. But more generically, what can finance do to influence procurement? Perhaps the best place to start is where procurement and finance organizations are today. In a recent Spend Matters/ISM snap poll, we asked the question: What is finance’s role related to influencing procurement?

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PeoplePerHour Seems Like They Need a Few More People Themselves!

- May 22, 2015 10:34 AM | Categories: Commentary, Friday Rant, Metal Miner

SONY DSC Recently, Team MetalMiner (a sister publication to this one) decided to revamp its regular monthly sourcing and pricing forecast report on the basis of discussions with large metal buying organizations. Several Spend Matters and MetalMiner team members (our parent company is called Azul Partners) suggested I try a freelance website such as PeoplePerHour. I did. Check out what my experience was like. Sneak peek: the product I got from working with PPH created was great. But the customer experience? Much less so...

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Now It’s Time For Implementing the ‘The Big Idea’ in Procurement: Tips From Rio Tinto CFO Chris Lynch

board-cubes-game-2923 copy At the Procurious event in late April in London, Rio Tinto CFO Chris Lynch gave one of the most useful talks I’ve heard to date on implementing big ideas in procurement. We’ve previously explored his thoughts. Today, as we conclude this series, we will discuss how to implement big ideas successfully (remember, few ideas get to this stage, at least those with management- and even board-level support!). Above all, in implementing big ideas, Chris suggests keeping things simple and introducing the bare minimum of complexity into the equation, at least as those from the outside (of procurement) can see it.

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The Next Step: Getting Support for ‘The Big Idea’ – Rio Tinto’s CFO Chris Lynch Offers Tips for Procurement

FA55F3B0FC As our series featuring Rio Tinto’s CFO Chris Lynch on how procurement can contribute “big ideas” to the business continues, we come to the next step in the process of making big ideas stick: “getting support.” Here, Chris offers a number of concrete suggestions. First and foremost, he suggests finding a “big promoter” higher up the corporate hierarchy while recognizing that people at the top are “very time poor.” Because of this, it is critical to think about how this executive patron will look at the idea with very limited time. Here, procurement team members must realize that executives are “always very time poor,” so it is essential to “give them a context.”

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Coming Up With the Big Idea in Procurement: Lessons from Rio Tinto CFO Chris Lynch

QY4LFZWJ9P In late April at the Procurious event in London, Rio Tinto’s CFO Chris Lynch gave a great lecture on how procurement can succeed at implementing big ideas. As we continue to share some of the highlights from his speech, we will talk about the first step Chris observes in making a big idea successful: coming up with a concept itself! When generating the right “big idea,” Chris notes it is important to challenge paradigms through true “intrapreneurship,” (i.e., entrepreneurship inside an existing environment). There should be no shortage of ideas that can come out of procurement, he observes, based on where the function sits.

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CSR: Do You Use Environmentally Friendly Laptops? Can You Replace Batteries?

- May 15, 2015 6:19 AM | Categories: Friday Rant, Sustainability, Technology

3G2JR4U6QK My Apple MacBook Pro with Retina display (aka MBPr) is losing its charge – otherwise it's largely been a champ so far since Jason and I each bought one the very first day they came out in 2012. There have been some bugs along the way (e.g. WiFi and Bluetooth don't always like each other, and some unexpected crashes), but overall it has been a good relationship. As is expected with all battery-powered devices (remember that prospective electric car buyers!), eventually the charge doesn't last. Early on, I got a solid 8 hours out of my MacBook battery, maybe even 10 hours or more sometimes, especially on dark planes with the screen dimmed down. Now, however, 3 hours or so, and it’s shutting down.

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Rio Tinto’s CFO Chris Lynch Speaks Out on Procurement – 2 Reasons Companies Spend Money

Two hands of businessmen passing a stack of dollars It’s rare that married couples play off of each other in business. I can’t think of a better example than Tania Seary, the mastermind behind Procurious who has built numerous successful procurement recruiting, training and consulting businesses in Australia, and her husband Chris Lynch, who is CFO of Rio Tinto. Chris generously offered his time to speak at the recent Procurious event in London and gave a truly fabulous talk offering tips for procurement leaders to work more effectively in the business when it comes to pitching and delivering big ideas (the subject of the summit itself). Coming from a seasoned CFO, this talk was priceless. A big thanks to both Tania and Chris for making this happen! In a series of posts, I’ll share some of the highlights from Chris’ chat, starting first with his observations on why we spend money in companies, especially from a procurement angle.

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Deloitte’s View: Getting Past What Doesn’t Work in Procurement Talent Management

- May 11, 2015 8:12 AM | Categories: Analysis, Procurement Commentary, Talent Management

MOFSZATMAH We are continuing to feature excerpts and analysis from Deloitte’s recently published paper: Procurement Talent Management: Exceptional Outcomes Require Exceptional People. Today, we explore Deloitte’s observations on what hasn’t worked in the past in procurement talent management and how to get beyond it. In the paper, Deloitte argues is that procurement talent management, as nearly every organization has looked at it in the past, is all but a failure waiting to happen. Such areas as centralized structures and skills development are as effective as throwing darts at a board to see what will actually stick.

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Thinking Outside the Box: VMSA Live 2015 Brings Together Innovators of the Staffing Supply Chain

BKC8Y8VF8K Yesterday at VMSA Live, an innovative and independent industry staffing supply chain conference, all types of participants from the different parts of the staffing supply chain (including enterprise contingent workforce programs, MSPs, VMS’, staffing suppliers of various kinds and other supporting service and solution provides) were collaborating and learning from one another, seeking a common ground between reality and what is possible. As I suggested in yesterday’s post, VMSA Live is demonstrating that the staffing supply chain is alive and kicking – collaborating, as it must – and, it turns out, innovating as well. My experience yesterday across sessions at VMSA Live allowed me to consider the topic of “innovation in the staffing supply chain” – the main focus of my current post.

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First Full Day at VMSA Live 2015 – The Contingent Workforce Staffing Supply Chain is Alive and Kicking

5_6_15 - 25 I am continuing my coverage of VMSA Live, an innovative and independent industry supply chain conference, which is designed and organized to bring together practitioners from all parts of the staffing supply chain (including enterprise contingent workforce programs, MSPs, VMS', staffing suppliers of various kinds and other supporting service and solution provides – including your own Spend Matters). Here I am reporting on the first full day of the conference (which goes on for another day and and a half), putting into context, recounting how it is working and describing what was covered in some of the sessions. One general observation can be made right off the bat, however: The contingent workforce staffing supply chain is alive, and it is kicking.

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