Tagged Content: Process and Best Practice

We Are All Spend Mavericks At Heart: Indirect Spend Challenge No. 3

- March 5, 2015 6:31 AM | Categories: Analysis, Spend Analysis, Spend Management

action-figure-hero-muscles-4048 copy With apologies to an unnamed friend and expert in the sector who goes by the nickname “spend maverick,” one of the major challenges of indirect spend is that we’re all truly mavericks at heart about our buying activities. And no one e-procurement tool would change this. Seriously, ask yourself (take off the procurement hat for a minute), isn’t circumventing policy (or pleading ignorance) often much easier than following the rules? It absolutely is. And we can often find better pricing by circumventing rules and system rather than following them, especially for less frequently purchasing items and services.

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Procurement Doesn’t Manage Indirect Spend – Suppliers and Stakeholders Do

- March 3, 2015 9:01 AM | Categories: Procurement, Services and Indirect Spend, Spend Management

dollar wallpaper One of the toughest challenges for procurement organizations tasked with managing indirect spend is that they don’t do it – their suppliers and stakeholders do. Consider the sometimes limited visibility procurement has into demand, pricing, contracts and related areas for indirect spend, especially those that are managed and/or negotiated at a decentralized level in the business. In addition, procurement often lacks the same level of understanding of the physical and financial supply chain flow for indirect material that they do for direct.

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What Procurement Needs for the Circular Economy

calendar-checklist-list-3243-830x550 I’ve been giving quite a bit of thought recently to the impact of the circular economy on procurement. I also recently traded ideas with Tradeshift’s Christian Lanng on a Spend Matters webinar. Christian shared his take on the topic recently on Procurement Leaders blog, as well, which included a number of steps organizations must make from a procurement and A/P perspective as they march down the circular economy path. I’ll share a few of these below as well as my own commentary on them.

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Should You Be Using the Renminbi To Buy From Your Chinese Suppliers?

- February 27, 2015 2:07 PM | Categories: Trade Financing

0201154-2590-D31A-4091769B0258659C Why should more multinational corporations consider invoicing and selling using China’s currency the renminbi (RMB)? Trade Financing Matters published an article this week on the subject. Check out a snippet of what the article is about here, or read the full story on TFM.

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The Circular Economy – Sustainability Is One Element at the Core

- February 27, 2015 6:17 AM | Categories: Learning / Research, Sustainability

UJVJGGIY24 Last week, I debated Tradeshift’s Christian Lanng in a live Spend Matters webinar as we jointly explored the topic of the circular economy. In our discussion, we spoke at length both about what the circular economy is as well as what it will mean for procurement organizations of the future. One key element of the circular economy is encouraging sustainability and corporate social responsibility (CSR) through having companies take greater ownership of the end-to-end product lifecycle.

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What Latin America Can Teach Southeast Asia About E-Invoicing – Part 3

- February 26, 2015 2:14 PM | Categories: Guest Post, Invoicing

Spend Matters welcomes this guest post from ApexPeak. In previous installments of this series, we have talked about how parallels can be drawn between Southeast Asia and Latin America, economically. In this final part of a 3-part series, we look at how Mexico, Chile, Brazil and Argentina, the continent’s forerunners in implementing e-invoicing and tax reform, designed and rolled out invoicing and ask what Southeast Asia’s emerging nations can learn from their successes and failures.

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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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Why Collect Supplier Information?

- February 23, 2015 10:05 AM | Categories: Accounts Payable, Invoicing, P2P, Suppliers, Trade Financing

Networking-102013329E0194F8 copy Beyond core P2P enablement and related areas, companies focus on supplier enablement for a variety of reasons. For one, such programs are increasingly driven by regulatory compliance or related sets of laws or industry constructs and expectations. Read on to see why, on an overall basis, the majority of supplier enablement programs center on the sourcing and management of supplier information.

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What Latin America Can Teach Southeast Asia About E-Invoicing – Part 2

- February 21, 2015 6:57 AM | Categories: Guest Post, Invoicing

Spend Matters welcomes this guest post from ApexPeak. You can draw parallels economically between Latin America and Southeast Asia. Both regions have emerging markets, share similar growth rates and have recently seen a value-added tax (VAT) placed on retail purchases. They are both experiencing irregularities in both public and private procurement, as well. In this second part of a 3-part series, we look at the experiences of Mexico, Chile, Brazil and Argentina, the continent’s forerunners in implementing e-invoicing and tax reform, and ask what Southeast Asia’s emerging nations can learn from their successes and failures.

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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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What Latin America Can Teach Southeast Asia About E-Invoicing – Part 1

- February 19, 2015 2:07 PM | Categories: E-Sourcing, Guest Post

Spend Matters welcomes this guest post from ApexPeak. While, culturally, there seems to be quite a gap between the dance-loving, football-celebrating nations of Latin America and the mysteries of Southeast Asia, economically, it is easier to draw parallels. Countries such as Indonesia, Thailand, Vietnam and the Philippines share the market dynamics of many Latin American countries: they are emerging markets, they share similar growth rates with their Latino cousins and have recently slapped a value-added tax (VAT) on retail purchases. They are also experiencing irregularities in both public and private procurement.

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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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