technology Content

Coupa Buys Aquiire, Adding to Its Lead in Catalog Search and Front-End Shopping Usability

Coupa is buying Aquiire, a provider of e-procurement software that brings notable capabilities in real-time search and catalog management, for an undisclosed sum, the company announced Monday. In purchasing Aquiire, Coupa gains not only additional modern front-end shopping capabilities (some might argue among the most advanced) but also a complement to the industry-leading catalog management technology it gained from acquiring Simeno in December 2017.

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10 Questions to Ask in a Purchase-to-Pay Demo

Sometimes cleverly crafted demos can gloss over important nuances or mask inadequacies, which can cause major problems later during implementation — and the dreaded scope creep. So, here are some areas that I recommend digging into and questions to ask during a purchase-to-pay demo. 

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Procurement Benchmarking in the Era of Big Data

Let’s be honest: most benchmark reports promise much but deliver little. They often start with good intentions but focus on high-level best practices or rely on survey questionnaires to gather their data. Benchmarks can take weeks or months to develop, and even then they are often discarded if they can’t give concrete action points to procurement. At the same time, we live in the era of big data. Perhaps you’ve heard that more data has been created in the last two years than all of the previous human history. As data becomes the oil of the fourth industrial revolution, why wouldn’t we put all this data into action?

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ROI, Today: Making the Near-Term Business Case for Spend Analytics

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Most varieties of procurement software deliver some form of return on investment. Whether it’s an e-procurement system that consolidates process costs or a sourcing tool that optimizes supplier selection, successful vendors can always point to clear ways their solutions deliver value, both immediately and in the future. When it comes to spend analytics, however, demonstrating ROI has proven more elusive. This is because dedicated spend analysis tools are often viewed as enablers to saving money through other methods, rather than a benefit in their own right. Yet while it is true that spend analytics deliver value by illuminating new savings opportunities, these tools can also be used to obtain tangible wins in their own right.

Why Procurement Must Prepare Today to Use Cognitive Software in 2050: Insights from LevaData’s 2018 Cognitive Sourcing Summit

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Just as it’s unlikely that most people will be regularly using self-driving cars any time before 30 years from now, procurement is probably not going to be widely using AI-based “cognitive” software within the next five or even 10 years. But that doesn’t mean organizations should sit around waiting for the technology to come to them. The talent, technology and operational strategies procurement leaders choose today will determine whether or not they are capable of using artificial intelligence-based software in the future. In fact, failing to prepare for the use of cognitive technology today could mean procurement is unable to use those tools even when they have become widely adopted, putting the business far behind its digitally mature competitors.

Debunking the Myths of Optical Character Recognition: What It Is and How It Affects Accounts Payable

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Spend Matters welcomes this guest post from Justin Holden, vice president of sales, Yooz North America.

OCR: Another one of those technical buzzwords that we’re hearing a lot about these days. It’s of particular interest in fintech (another new buzzword that stands for “financial technology”) and even more specifically in accounts payable. But what is it? More important, what isn’t it? And how does it make a difference in the accounts payable (AP) workflow?

Has Blockchain Reached an ‘Inflection Point’? New Deloitte Research Measures Executive Attitudes

Now that the early hype around blockchain has died down, what do executives around the world really think about the distributed ledger technology that promises to transform everything from ingredient tracking to banking? To find out, researchers from Deloitte recently surveyed 1,053 senior executives in seven countries (Canada, China, France, Germany, Mexico, the U.K. and the U.S.) who are familiar with blockchain and with their companies’ blockchain investment plans. All respondents represent companies with at least $500 million in annual revenue.

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One (Direct Procurement) Tool Fit for All

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When considering indirect procurement departments, I often distinguish several tools used in parallel. But while this may be perfectly acceptable for the software providers, it is much less so for the users and company. Imagine the amount of effort for the administration of four separate tools, each different from the next — with their own supplier database and knowledge spread over multiple departments. The worst component of having four separate tools is there is no centralized flow, no process integration and different upgrades and training are required for each.

Hail to the Value Leaders: Saluting SolutionMap’s Best Performers in Q3 2018

The coveted top-right corner of each SolutionMap represents the best performers in each procurement software category. Labeled as Value Leaders, these companies demonstrate the best balance of customer satisfaction and technical capability as judged by the Spend Matters analyst team. For the Q3 2018 SolutionMap, released Tuesday with newly added vendors and debut maps for Contingent Workforce and Services, here are the Value Leaders across all categories.

Coupa Acquires DCR Workforce, Giving its Services Maestro a Full Symphony Orchestra

Coupa announced Tuesday it had acquired the technology assets of DCR Workforce, a Boca Raton, Florida-based vendor management system (VMS) provider, according to a press release. Coming on the heels of Labor Day, Coupa could not have picked a more appropriate holiday week to expand its services procurement and labor footprint. DCR’s software enables businesses to source and manage contingent workforce and services. The DCR solution will now be marketed as Coupa Contingent Workforce, part of Coupa’s broader platform.

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Enabling Supply Chain Mobility: The myConnXion Revolution

Having officially launched myConnXion yesterday, our team is thrilled to invite buyers and suppliers to connect. A key factor behind our innovative technology lies in the ability to integrate the process into your current sourcing strategy. We mobilize supply chains to compete faster and better in today’s global economy. Many procurement teams are deeply entrenched in legacy enterprise software and business processes, which are often not enough to manage today’s data type and quality, supplier relationships and business risks. Having a supply chain capable of movement and adaptability has become vital to the success of an organization’s business operation. Adding velocity to your supply chain starts with sustainable sourcing.

ConnXus’ Multitier Tracking Capability: Creating a Sustainable Picture of Supplier Spend

procurement software

Editor’s Note: This article is part of our series The Featured Feature, where we explore unique technology capabilities that differentiate procurement software companies. Read our introductory post to learn more.

Supply chain visibility is a major concern for today’s procurement organizations. In a 2017 Geodis survey of 623 companies, respondents named improving supply chain visibility as the third most important priority for their businesses, behind only full deliveries and product availability. Yet only 6% of those respondents said they had full visibility of their supply chains. Acknowledging this need for better visibility and information about their suppliers, businesses are increasingly turning their attention to the latest generation of supplier management solutions. ConnXus, a more recent entrant to this sector, is one such example, with a particular expertise in supplier diversity tracking and reporting.