Tagged Content: Process and Best Practice

Mexico’s E-Accounting Legislation Drives Accounts Payable Efficiencies

Spend Matters welcomes this guest article by Steve Sprague, vice president of product strategy at Invoiceware International. As Mexico’s e-contabilidad (e-accounting) mandates go into effect this quarter, companies operating in this country need to take a hard look at their compliance platforms and financial processes. In addition to the previous e-invoicing mandate required by Mexico’s tax authority, the SAT, the government has added accounting reports to its list of required business processes. Companies now have to provide their chart of accounts, monthly trial balances and journal entries to support tax deductions.

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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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Unlucky No. 13 – Another Procurement Myth Debunked

- April 24, 2015 8:39 AM | Categories: Procurement, Procurement Commentary

QNFDIZPFN6 Pierre Mitchell was back this week to debunk another top procurement myth over on Chief Procurement Officer. This week we hit No. 13 on our list of 25+ procurement myths we think need to be discussed. The myth? The thought that using the Kraljic Model should be applied to define and manage spend categories. Read the full article here: Apply the Kraljic Model to Spend Category Management: Procurement Myth No. 13.

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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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In the Desert on a Horse with No Name – Reflections on the IQNsiders Conference, Talent Pools and the Shimmering Future of Contingent Workforce Management

desert-hiking-hot-3853-825x550 IQNavigator’s recent client conference in Phoenix, Arizona, where Jason Busch and I saddled up earlier in the month, provided a perfect environment for attendees' further thinking about the changes, challenges and opportunities that are now emerging in the services procurement category of contingent workforce management. I share my top observations of the event and the current contingent workforce market.

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Changing a Program From the Inside Out: Tying Organizational Transformation to Services Procurement (Part 2)

69TMH4ITIE copy At the IQNavigator IQNsider’s event earlier this month, the contingent workforce program leader from a large financial services institution took the stage to talk about how his firm’s overall transformation efforts included a new focus on services procurement programs as part of the overall change elements for the company. As part of this initiative, the organization focused on creating a hybrid top-down and bottoms-up approach to managing an overall program office to “show value through stakeholder partnerships” and to engage line-level managers.

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The Case for Change Management in Procurement: From the Horses Mouth

JHAWWKPMEU Change management in procurement does not get enough respect. But some organizations are making dedicated change management investments that are paying off. As we conclude our interview series with Paladin Associates’ Barb Ardell, we explore thoughts from organizations that have gone through a dedicated change management process.

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What Does The CFO Think Of Procurement? Why Aren’t We Asking About Finance’s Impact on Procurement?!

Pay-Off There’ve been numerous studies that have asked finance executives to rate procurement effectiveness, with a focus on the credibility of the procurement-cited savings and whether the results are dropping to the bottom line (I even led such a study over 5 years ago). Not surprisingly, there are clearly some capability gaps here. But, is this really the right question to be asking finance folks? First of all, you have to consider why these gaps occur at all. We take a look at this issue in this post and also will be conducting a study in partnership with ISM on the topic.

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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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How Change Management Can Change Procurement For the Better

- April 16, 2015 6:41 AM | Categories: Change Management, Procurement Commentary

1129140-2590-D31A-402A89DD1F58ACC9 Many of us tend to dismiss the “soft” elements of procurement including change management initiatives. But as we’ve explored so far in this interview series with Paladin Associates’ Barb Ardell, procurement change management done right can have a huge impact. But how do you build the case for it? Today, we share some of the statistics that Barb provides in helping build the case for it.

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Supplier Enablement and E-Invoicing: Lessons Learned From a Fortune 500 Food/Beverage Company

- April 15, 2015 8:33 AM | Categories: Invoicing, Learning / Research, P2P, Supplier Collaboration

L2KBJB91D6 There’s no substitute for learning from experience when it comes to supplier enablement for e-invoicing programs. Earlier this year, our research team spoke with the P2P process owner and head of supplier enrollment for a large food and beverage company. Spend Matters previously shared some of the early lessons in the first installment in this series based on the company’s rollout of Taulia’s connectivity and portal capability (after previously using the Xign solution). Today, we continue key lessons learned from this discussion.

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