Tagged Content: PRO

Is Total Talent Management Really the Next Big Thing? Or is There Something Else?

innovation We hear the terms total talent management (TTM), holistic talent management and blended workforce bandied about with great frequency by analysts and writers these days. But when and how it will be achieved remain unclear. While some declare the time is right for such an approach and hazard conceptual roadmaps, others have wondered whether the idea is really feasible. This concept of a unified way of sourcing and engaging both permanent and contingent labor/talent is appealing and probably inevitable, but its realization is – even according to its promoters – admittedly still some ways off. Spend Matters believes there could be another, more near-term development, closer to home in the areas of contingent workforce and services that has already started to occur and is of more practical relevance to procurement. This is a trend toward a comprehensive independent workforce ecosystem and eventually workforce as a service, which will mean correlating capabilities and outcomes under an expanded services taxonomy. But what exactly is this other development? Read on...

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E-Signatures and Digital Signatures In Procurement: Definitions and Considerations

e-signature While the terms e-signature and digital signature are often used interchangeably, they are not the same. Every digital signature is electronic, but not every electronic signature is digital. This may sound a bit confusing, but it's not with proper definitions. This 3-part Spend Matters PRO research series provides a foundation for procurement and supply chain practitioners to understand the benefits that digital signatures can bring to contracting and contract management as well as interactions with internal stakeholders, suppliers and partners. This first part provides definitions, a general background on the topic and the benefits and drawbacks of these tools.

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The Leap From Contingent Workforce to Extended Workforce and Services

leap This PRO brief proposes that an organizational shift is taking place from (a) enterprises that source and consume a very limited set of labor/talent resources (contingent workforce) through certain processes and technology solutions to (b) enterprises that are advancing to another stage (extended workforce) in which a broader array of labor/talent-based services can be accessed by internal business consumers. Some of the pieces of the extended workforce ecosystem are already present, but major gaps in technology and processes must be filled, and procurement must become interested in moving beyond its limited contingent workforce view and take an interest in making extended workforce a reality for their businesses.

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ESM Solutions Responds to Higher Education Customer P2P Needs

- August 19, 2015 2:37 AM | Categories: Analysis, P2P, Solution Providers, Technology

open book The IT procurement solutions market is not a one-size-fits-all space. Especially in the higher education industry, competition among procurement solutions providers has become more fierce. For one, you have ESM Solutions – the provider we will be focusing on today in this Spend Matters PRO article. Vendors in the higher education space can offer industry specific services and capabilities and onboard industry suppliers efficiently, giving customers the benefit of rapid savings, faster implementation and a more adequate pricing model. These features give ESM a better shot at winning deals among higher education customers. However, the provider is also aiming to gain a broader reach in the commercial space – efforts I will discuss in this first part of this series on ESM.

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Self-Sourcing Contingent Workforce: What it is and Why it Matters Now

worker with laptop and notebook Many service procurement and contingent workforce managers in mid-to-large enterprises are already at various stages of implementing supplier and spend management programs to control and enable their businesses’ consumption of a contingent workforce. These programs typically allow business users to submit a request specifying the characteristics of the kind of worker(s) or business outcome(s) they desire. It is the program, not the business user, that sources the worker(s) or project(s) for the business user. And the business user directly engages with the worker(s) or project resources at the end of the sourcing process. By contrast, self-sourcing, which will be discussed in this Spend Matters PRO insight brief, allows the business users to identify, engage, select and procure labor resources (today, typically independent workers) on their own, directly. Self-sourcing will increasingly become a contingent workforce buying channel, driven by user demand and enabling technology, and procurement and contingent workforce managers must now begin to understand it and prepare to management it.

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PRO Unlimited: Leveraging an Integrated Technology and Services Approach to Drive the Future of Contingent Workforce Solutions

light bulb I recently met with PRO Unlimited’s Senior Vice President of Product Development Ted Sergott at the company’s main San Francisco Bay Area office, where I was able to get further acquainted with this unique contingent workforce solutions business and where it is headed. PRO Unlimited is now one of the leading contingent workforce solution providers across several standard industry solution categories. It is also one of the few solution-led providers bucking the trend to separate software from services – and without apologies. This Spend Matters PRO research brief provides an overview of PRO Unlimited and includes a number of defining characteristics of the business and what makes the company different than other providers in the contingent workforce market.

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Cortex: Enabling Invoice Control and Visibility to Spend Control

- August 12, 2015 2:41 AM | Categories: eProcurement / Procurement, P2P, Solution Providers

invoice Among all the types of business solutions we cover here at Spend Matters, there is one that is stimulating a particularly high level of interest within purchase-to-pay (P2P) in terms of the bridges it can build between functions: electronic invoicing and supplier enablement. We recently had the chance to explore Cortex, a P2P e-invoicing provider, with particular depth in the oil and gas vertical. In this Spend Matters PRO analysis, Jason Busch, founder and managing director of Spend Matters, and Xavier Olivera, P2P analyst and Spend Matters México/LATAM director, take a close look at Cortex and its e-invoicing solution's capabilities and value proposition.

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Best Practices for Your P2P Implementation Project And How to Keep it From Becoming a Nightmare

virtual touch screen interface Spend Matters recently held a joint webinar with GEP on how to successfully implement a procure-to-pay solution and how to keep the process from turning into a nightmare. This 2-part Spend Matters PRO series lays out what tips we suggested for procurement organizations embarking on a P2P project. This is not meant to be an all-inclusive, step-by-step implementation guide, however. We simply want to share our best practice ideas based on our experience and our discussion in the webinar. Today, we will focus specifically on project management as a procurement responsibility, as well as ensuring finance and accounts payable are included in the P2P implementation project. Other areas we will cover are remembering the importance of supplier integration, system testing and user training in the P2P process.

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Prodigo and Healthcare – Customer Case Studies and Applying Lessons Learned to Cross-Industry Procurement

medical chart Prodigo, a procure-to-pay (P2P) technology specialist in the healthcare market, has a lot to offer procurement organizations. We began our discussion on the provider in Part 1 of this multi-part Spend Matters PRO research brief. Today, we share stories from Prodigo customers who we have had a chance to speak to and who are supporting highly complex transactional procurement environments. These customers have confirmed the complexity of the environments that our briefings and demonstrations here at Spend matters have suggested. For example, one customer has seen all internal item master information become part of the Prodigo catalog. But the Prodigo system is also used to index and manage external information for direct purchases from manufacturers (enriched with third-party data as well) because the internal item master doesn't carry all the items or the information necessary to make frontline decisions. This may sound simple, but the use case and complexity is surprising indeed to provide complete buying transparency and control – and bring a range of lessons learned for non-healthcare procurement organizations as well.

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Cross-Industry P2P Lessons From Healthcare, Courtesy of Prodigo

Solution Occasionally, a procurement technique or solution approach we see in healthcare potentially brings broad applicability to other sectors as well. We’ve learned over many years that most solutions in this market are highly bespoke given all the challenges associated with managing complex (and specialized) product information, physician preference items, billing and reimbursement and attributes unique to hospital and clinician environments. But a recent set of briefings, demonstrations and customer reference discussions with Prodigo Solutions, a procure-to-pay (P2P) technology specialist in the healthcare market segment, suggest a range of lessons from healthcare environments that we can apply to more generalized purchasing environments. This 2-part Spend Matters PRO research brief explores Prodigo’s capabilities, the customer experience and what procurement can learn from healthcare.

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What Makes a CLM Tool Special These Days?

- August 3, 2015 2:18 AM | Categories: Contract Management, Technology

big data What should you look for if you want to drive a more mature contract lifecycle management (CLM) approach – one that takes you beyond just getting all your contracts in one place? If we look at the CLM providers in the market over the years, several companies have been either acquired by or merged with firms originating from either sourcing or e-procurement in the pursuit of a suite offering, and these solutions are now being integrated into the broader offering. Among the remaining, or independent, providers in the space are companies that deliver decent contract repository functionality, which is to say they can take your executed documents and push them into the CLM tool, and they can track numerous data points well, and most CLM providers also do a good job of negotiating contracts. Isn’t that good enough? What else might there be to CLM? What can we do to take CLM to the proverbial next level? This Spend Matters PRO research brief aims to answer those questions and points out what features and tools ideal CLM solutions should have.

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Xchanging Shares Plummet on Half-Year Report – Questions About Future of Procurement Business

- July 31, 2015 2:30 AM | Categories: Finance, Industry News

stock prices The half-year results for Xchanging released yesterday were intensely disappointing to shareholders, who saw the value of their shares fall by 20% instantly, to a new 3-year low of £0.97. That is still above the bad days when founder David Andrews resigned, in 2011, after major profit warnings, and the shares fell to £0.50, but the current price is close to half what it was as recently as last autumn. We typically view Xchanging as a procurement outsourcing business, yet the results highlight 2 points. First, the procurement outsourcing and software element only accounts for some 6.5% of total revenue – £13 million out of £200 million. Yet it also casts a very long shadow, in that the poor results are being almost totally laid at the door of the procurement business. Before looking at the specific procurement issues, just run through the headlines. Gross revenue was £240.2 million in the half year, down from £282 million compared with a year earlier. Net income was £199 million against £205 last time. Operating profit was £20.4 million against last year’s £20.0 million, but statutory operating profit was down from £24.2 million to a loss of £41 million after the write-offs, discussed below. In terms of the divisions, the business process outsourcing (BPO) arm lifted adjusted operating profit 8.8% to £28.4m, with the technology segment 52% stronger at £4.1m. Procurement, which contributes just 6.5% of net revenue, saw some growth in the software business but a weak performance in the traditional outsourcing business, combined with underperformance in one of the new “tail-end spend management” contracts. “Net revenue was £13.0 million (HY 2014: £15.9 million), and the adjusted operating loss was £6.8 million (HY 2014: £1.7 million loss). This was after allocating central overheads of £1.8 million (HY 2014: £1.9 million),” the company said in its half-year report. “

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