Tagged Content: L2

What Personality Does Your Procurement Organization Have?

C4B33F06AD Interested in finding out? We are conducting a personality assessment in conjunction with the Institute for Supply Management. Although it’s a variant of a Jungian personality test (e.g., like Myers-Briggs), the focus is on how a procurement professional views the world in terms of problem solving and learning. It’s a simple survey that takes about 3-4 minutes. So, what’s the benefit for a chief procurement officer, and for procurement more broadly, for doing this quick-hit assessment? There are quite a few actually...

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Measuring Supplier Onboarding Success in Trade Financing

- March 3, 2015 6:20 AM | Categories: Supplier Management, Supplier Performance, Trade Financing

F672CBDC0F My colleague David Gustin (Trade Financing Matters) likes to say that supplier onboarding success is measured in 3 simple ways: The success rate onboarding suppliers you targeted, the success rate in having suppliers use the service and the retention rate after a period of time. These metrics are a perfect starting point to measure the success of supplier onboarding initiatives in buyer-led trade financing, regardless of program type.

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Supplier Enablement For Trade Financing: Starting to Transact

- March 2, 2015 8:57 AM | Categories: Analysis, Invoicing, Supplier Management, Trade Financing

Networking-102013329E0194F8 copy Supplier enablement for trade financing is not just a question of initial onboarding efforts and data collection. It also requires thinking through all the elements of how one will gather the necessary information on a transactional level to provide visibility and triggers for early payment. A range of e-invoicing and supplier/business network technologies can enable these steps.

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Which Procurement Conferences Should You Attend? Start With Procurement Leaders

- February 27, 2015 8:57 AM | Categories: Conferences, Friday Rant

1CA9B8B930 (1) It’s almost that time of the year again (at least we hope), when the freezing winter thaws into spring and the many feet of accumulated ice and snow in Chicago and the East Coast is replaced by, well, mud. Once this transformation starts, you know procurement conference season is right around the corner. That and the Chicago Cubs starting to once again migrate their way into last place (which usually happens around the end of April). Indeed, spring is nearly here, along with the dozens of procurement shows that kick off the warmer months. I am often asked by just about everyone in the market: Which procurement events should I attend?

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Supplier Enablement For Trade Financing: Initial Steps

- February 26, 2015 6:26 AM | Categories: Supply Chain, Supply Management, Trade Financing

scrabble-to-do-3299 copy When it comes to trade financing (receivables financing and payables financing), there are numerous elements involved in onboarding and enabling suppliers. These efforts go beyond what we might typically consider for standard procurement and A/P-centric on-boarding processes. As we noted in the last installment in this series here, onboarding often begins with the implementation of a plan “to tier the supply based into logical tranches for targeting – by size, willingness to take a discount, APR rate, risk, geography, industry, diversity status, etc.”

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Supplier Enablement For Supply Chain Finance and Invoice Discounting

- February 25, 2015 6:23 AM | Categories: Finance, Invoicing, Supply Chain

1202141-2590-D31A-404E6034C9DED1CD Given where most procurement and A/P organizations stand in terms of supplier enablement and data quality for existing P2P programs, we can safely assume existing onboarding efforts and vendor data files won’t cut it for trade financing and invoice discounting/supply chain finance programs, in particular. This means that we should not necessarily focus as much on extending previous programs – unless they are truly comprehensive – as much as starting anew.

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SAP and Cloud P2P Integration: Putting Compliance First

- February 24, 2015 6:13 AM | Categories: ERP, P2P, SAP

abstract-dark-red-technology-background-111413C50B5CD94C Compliance with business policies such as approved vendors, spending limits, approvals, etc., are well supported by leading P2P vendors, including Ariba, Coupa, Ivalua and many others. The improvements in adoption seen with easy-to-use solutions may, in fact, bring a greater degree of compliance. For example, companies may see improvements in the amount of spend that is truly pre-approved vs. having POs created after the fact simply to comply with “no PO, no pay” policies. Companies that achieve good end-to-end business integration across the spend management process will see a huge upside in terms of improving visibility into their liabilities and a better ability to close the books in an accurate and timely way.

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SAP, Oracle and ERP Integration With P2P – Advanced MDM Scenarios

- February 23, 2015 6:36 AM | Categories: ERP, P2P, SAP

Digital-background-10251366AB4BB4C1 copy Successful P2P implementation and integration relies on many surrounding business process and application areas. Many of these related solutions also benefit from a Master Data Management (MDM) approach. MDM defines which solution becomes the “keeper of record” and which fields are the “golden masters” for other systems to reference. Integration is a key aspect of this, of course, and organizations should ideally start to think about these MDM elements during P2P and ERP integration planning.

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Supplier Enablement, Onboarding and Collection Fields: A Brief History

- February 20, 2015 9:54 AM | Categories: Accounts Payable, Invoicing, P2P, Supply Chain, Trade Financing

BD0AC07780 Supplier enablement and onboarding is nothing new. Going back to medieval and ancient times, ventures and organizations did due diligence on their key supply partners – and sometimes, as history has all too often told us, not enough! But in the past few decades, as myriads of regulations and laws have cropped up – not to mention greater general human and consumer interest in who companies and brands do business with based on corporate social responsibility (CSR) factors – organizations have become more diligent in understanding who their suppliers really are.

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Deploying SAP and Coupa at the Same Time: A P2P Case Approach (Benefits and Lessons Learned)

- February 19, 2015 10:17 AM | Categories: Analysis, ERP, P2P, SAP

desk-notebook-notes-3059 Lately, we have been chronicling the deployment case study of an organization that deployed a new ERP (SAP) and P2P (Coupa) system at the same time. In wrapping up the deployment lessons learned and benefits from this user, a number of key findings emerge.

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Deploying SAP and Coupa at the Same Time: A P2P Case Approach (Lessons From the Trenches)

- February 18, 2015 9:39 AM | Categories: Analysis, P2P, Technology

highway-lights-night-1290 Recently, we have been profiling the highlights of a Coupa P2P implementation that went in parallel with an SAP deployment at a high-growth company. From a launch (and post-launch) tactics and change management perspective, the organization had many tips to share based on its own experience. For one, the company kept a war room for the first 2 weeks after go-live, but quickly closed it – there were no P2P issues needing involvement based on the careful planning upfront.

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Webinar – Procurement and the Circular Economy: Trade Financing and Payment

- February 17, 2015 6:18 AM | Categories: Learning / Research, Procurement, Procurement Commentary

bank-notes-bills-buy-2114 One of the notions of the circular economy centers on the optimization and use of contained systems rather than a collection of individual components or tiers. In this regard, a supply chain is not necessarily linear, but rather consists of a collection of integrated physical, information and financial flows, which may shift and change over time. Tomorrow, Feb. 18, at 1 p.m. CST, I’ll be debating the merits of the circular economy with Tradeshift’s Christian Lanng on a Spend Matters webinar. We will be talking about what the circular economy means for procurement, finance and supply chain teams.

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