Tagged Content: L2

A Guide for the Perplexed (Part 3): Final Observations on A/P Automation, E-Invoicing and Trade Financing

1E73C086D9 Today we will wrap up our list of a dozen observations included in our P2P, e-invoicing, A/P automation and trade financing guide. As noted in Part 1 of this series, there are a number of challenges that arise when A/P automation, e-invoicing and trade financing intersect. (You can also check out Part 2 here.) Below are observations Nos. 9-12 on this subject.

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A Guide for the Perplexed (Part 2): Supporting A/P Automation, E-Invoicing and E-Procurement in One Solution – Is This Even Possible?

black-and-white-cafeteria-canteen-3409-550x550 With apologies to the great scholar, philosopher and commentator Maimonides, our P2P, e-invoicing, A/P automation and trade financing guide to the perplexed continues with additional observations. Our first 4 observations were published yesterday. For each of the 12 observations in this series, we will provide additional commentary in individual posts throughout the month of May. Here are observations Nos. 5-8.

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Procurious Big Ideas Summit – ‘The Chefs in Your Procurement Kitchen’

- May 1, 2015 6:34 AM | Categories: Commentary, Conferences, Industry News

0HCMIT272C As part of a quick UK trip this week, yesterday I stopped by the Procurious Big Ideas Summit held at The Soho Hotel in London. I’m not sure if anyone else who knows the history of the Soho neighborhood also observed the irony of a “procurement” event there – especially one hosted by “Procurious” – but I at least got a chuckle out of it. Venues aside – and the Soho Hotel has a truly great small conference facility – the event, being simulcast live online, kicked off with Professor/emcee Jules Goodard, a wonderful host, facilitating an icebreaker to get the audience engaged (which afforded me a pleasant and overdue quick catch-up with my conference neighbor, Mark Perera).

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When Time is the Commodity: Optimizing Procurement’s Focus and Activities in the SMB Market

547435C351 Procurement organizations operating in small and middle market environments do not have the luxury of time – in certain cases there is not even a formal function. Supply Chain Digest recently explored the subject, quoting a piece from Redactive’s Supply Business quarterly featuring the thoughts of Dave Nellist, who runs procurement for a New Zealand insurance firm. Incidentally, for those who don’t know Supply Business, it is a somewhat odd title aimed at talking procurement to non-procurement people (it’s predecessor, CPO Agenda, at least in its earlier years under Geraint John, was a superior publication).

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Procurement’s Message to Finance: Do This, Not That!

- April 29, 2015 8:18 AM | Categories: Finance, Procurement Commentary, Procurement Research

Screen Shot 2015-04-28 at 3.35.48 PM In an as-a-service economy, business functions are increasingly moving to a business services model to maximize their value to the enterprise – both individually within the function, but also collectively across the functions. This should especially hold true with procurement and finance. They should be inextricably linked in terms of spend management (i.e., getting the most from your spending – whether internal or external), risk management and so on. Yet these 2 functions aren’t so well optimized as I discussed in this recent post, but if procurement is going to help finance, it needs to point out where finance is potentially destroying enterprise value itself (often unknowingly). So, how bad is it? Well, we currently have an active research poll with ISM to help procurement organizations make the case to finance on its actions that are destroying the most value.

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Amazon.com Goes Beyond AmazonSupply – Open for Amazon Business

app-store-device-macbook-air-1171-825x550 Earlier today, Amazon announced its Amazon Business Marketplace – a highly material expansion of its original business, AmazonSupply, targeting the B2B community and combining in some additional features that we’ll discuss momentarily. Amazonsupply.com was originally launched in 2012, offering 500,000 specific SKUs targeting both the laboratory/science and industrial communities. It eventually grew to over 2 million SKUs, all managed and stocked by Amazon. Amazon told Spend Matters that its AmazonSupply business, combined with business spend on Amazon.com, serves “millions of business customers” who spend “billions of dollars annually on business-related purchases,” representing more than 100 times the selection of AmazonSupply alone.

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Setting Up Procurement Policy (and Priorities) in Smaller Companies: Where to Begin

EB47601A92 A recent article in Supply Chain Digest tackled – well quoted – a subject that often gets short shrift inside smaller organizations and the middle market: how to set up and prioritize procurement investments. Citing an article from Redactive’s Supply Business, the piece quotes Dave Nellist, who serves as procurement head for a New Zealand-based insurance firm, and shares his views on improving procurement’s stature on in the SMB market.

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What We Learned About Supplier Enablement From a Fortune 500 Food/Beverage Firm

- April 23, 2015 6:32 AM | Categories: Invoicing, P2P, Supplier Management, Trade Financing

coffee-iphone-macbook-air-174-825x550 Every so often, we have a discussion with an organization and come away with page after page of insights. Such was the case with a recent interview with a P2P process owner at a large Fortune 500 food/beverage company that had worked with 2 different vendors (Taulia and Xign) over multiple years for supplier enablement and enrollment for connectivity, invoicing and planned trade-financing activity.

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Spend Matters Almanac 50/50: 50 Providers to Watch for 2015

- April 21, 2015 10:30 AM | Categories: Innovation, Solution Providers

50-watch-featured We are pleased to announce the release of the 2015 Spend Matters Almanac 50/50 list of Providers to Watch! This list includes many exciting and up-and-coming players in the procurement and supply chain sphere and is a great companion piece to its counterpart, the 50/50 list for Providers to Know.

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Tying Organizational Transformation to Services Procurement: A Case Example (Part 1)

1218140-2590-D31A-40E893B31F1D745B At IQNavigator’s customer event earlier this month, I had the chance to listen to a case study from the services procurement program leader for a financial services firm, a story that offers lessons for procurement organizations regardless of industry. Most curiously, the company has started to tie elements of its overall organizational transformation efforts – the firm promoted within a chief transformation officer who is on the executive team – to its services procurement efforts.

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GPO: It’s Not What You Think

16VYGB9PG5 GPO: Global Process Ownership – not group purchasing organization. What is it? Well, as Pierre Mitchell describes in a new series published this week on Chief Procurement Officer, it is a proven strategy based on the ability to manage cross-functional processes. Head over to our CPO website to read Exploring Procurement’s Other GPO: Global Process Ownership (Part 1) and Part 2: The 3 Dimensions of Global Process Ownership to read more about why procurement organizations should adopt GPO.

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Addressing Communication Challenges With Supplier Enablement and E-Invoicing: Lessons From a Fortune 500 Food/Beverage Company

- April 16, 2015 8:28 AM | Categories: Analysis, Case Study, Invoicing, P2P, Supplier Management

communication-dialer-telephone-3073-825x550 Even with an initial well-constructed strategy in place with support tactics, it is inevitable in any supplier enablement and e-invoicing deployment that things will not always go as planned, or issues will arise that couldn’t possibly have been pre-determined. One issue for an organization we recently talked to was around communications to suppliers requesting information. It turned out that a surprising number of suppliers going through the onboarding process believed the outbound email and phone-based efforts were “phishing” efforts designed to steal their confidential information (e.g., banking details).

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