Tagged Content: Technology

Vendor Payment Terms and the 6 Degrees of Kevin Bacon

- August 31, 2015 2:30 PM | Categories: Featured, Guest Post, Invoicing, Technology

Spend Matters welcomes this guest post from Brent Meyers, vice president of the central region for Nvoicepay.

Vendor payment terms are making headlines lately. Big firms are moving to extend terms to as long as 4 months. On the flip side, Obama’s SupplierPay initiative and Britain’s Prompt Payment Code, both of which aim to get big companies to commit to paying small vendors faster, are gaining traction. Between the extremes of cash on the barrel and turning suppliers into de facto lenders, what makes sense?

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Spend Matters View: Realizing Accenture’s New PaaS Applications (Part 2)

- August 28, 2015 6:26 AM | Categories: eProcurement / Procurement, Innovation, Technology

PaaS As a follow-up to the first installment in this series highlighting future supplier network-based applications made possible through platform-as-a-service (PaaS) architectures and business models, this second post shares additional business application-type apps that future networks might deliver, including network-based contract lifecycle management capabilities, virtualized environment health safety and safety health environment management, project, portfolio and initiative management solutions and more.

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How Does Trade Financing Fit With E-Invoicing?

- August 27, 2015 6:15 AM | Categories: Finance, Invoicing, Research Download, Technology, Trade Financing

e-invoicing Trade financing is a broad-based term we can use to encompass a range of receivables financing and payables financing techniques. The difference between the 2 types is relatively simple: Vendors are in control with receivables financing program, and payables financing programs are buyer-led. There are a range of common areas of trade financing programs today outside of global trade-centric programs and products. These include: supply chain financing (i.e., an uncommitted credit facility, typically with companies at or near an investment-grade credit rating), dynamic discounting, reverse auctions and auction marketplaces, buyer-led invoice finance, p-cards, seller auctions, factoring and invoice finance. For further information and definitions of these programs, download the Spend Matters Perspective: Understanding How E-Invoicing Fits.

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Spend Matters View: Realizing Accenture’s Future Supplier Network Vision (Part 1)

category management Building on my earlier post introducing supplier networks and platform-as-a-service (PaaS), which was inspired by some of the thinking in Accenture’s paper, Procurement’s Next Frontier – The Future Will Give Rise to an Organization of One, when considering supplier networks of tomorrow, I can think of dozens of future network-based applications that will supplement, augment or replace existing procurement and supplier tech applications.

Here are 6 ideas for what’s possible with future PaaS-driven network applications.

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How Do Supplier Management Systems Fit With E-Invoicing?

- August 26, 2015 6:06 AM | Categories: Accounts Payable, Invoicing, Supplier Management, Technology

supplier management One of the fastest growing areas of the procurement and accounts payable (A/P) technology automation market is a sub-sector that many describe as supplier or third-party management. As with the other areas we have explored, supplier management is an area that has material overlap with e-invoicing. Initiatives for this technology can support the capture and maintenance of a range of supplier management data. However, e-invoicing is not a substitute for broader supplier management programs outside of A/P-specific, vendor file-centered programs. Separate programs, which require their own workflow and systems, may include programs centered on several related factors.

This article is based on content from the Spend Matters Perspective: Understanding How E-Invoicing Fits. Authored by Spend Matters Founder and Managing Director Jason Busch, with input and guidance from Trade Financing Matters’ David Gustin, it provides a foundation for organizations considering or already putting in place an electronic invoicing (e-invoicing) or purchase-to-pay (P2P) program.

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A Look at the Distribution of Global Payments to Different Countries Across an Online Freelancer Marketplace Platform

wages Many are aware there are a number globally spanning online freelancer marketplaces, most notably Freelancer.com, Guru.com and now Upwork, the merged platforms Elance and oDesk. These platforms allow people almost anywhere to engage a freelancer, almost anywhere, to perform work and get paid for it – all virtually.

In this article we offer a picture of how that work is distributed across the globe, thanks to analysis and visualizations conducted by the Connectivity, Inclusion and Inequality Group, a multidisciplinary group of researchers based at the Oxford Internet Institute, University of Oxford. Their results and visualization were published in 2 articles, “Is oDesk a global marketplace? Visualizing the geographies of digital work” and “Uneven Geographies of Digital Wages.”

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How Supplier Network Systems Fit With E-Invoicing: The Role of P2P and E-Procurement

- August 25, 2015 6:34 AM | Categories: Invoicing, Research Download, supplier networks, Technology

supplier network Separate from supplier networks, e-procurement and purchase-to-pay (P2P) systems enable a range of hard dollar cost reduction benefits by reducing off-contract purchases, lowering purchase volume in general, improving operating efficiency, increasing PO throughput per full-time equivalent and bringing greater spend under management and lower contract rates. 


These systems do this by supporting a range of capabilities, including supplier onboarding, catalog management, supplier portal, workflow/process management, requisitioning, approval/status, order management/visibility, inventory/asset management and supplier connectivity. 
The overlap between e-invoicing solutions and supplier network and P2P capabilities can be significant, especially in the areas of supplier onboarding, connectivity and portal capabilities. Given this, it can be important for procurement and A/P organizations to decide what capabilities of which solution area they want to leverage in case of overlap.

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What Happened to FMS in the Past Year? A Request For FMS Providers to Share Their Stories

WIP In a recent post, “Freelancer Management Systems: The Origin and Destiny of a Species,” we established that the freelance management system (FMS), as a concept, is not much more than a year old. We also tried to define what an FMS actually is – in short, a digital platform for enterprises to manage the independent workers that perform work for them.

A number of solution providers have defined at least parts of their businesses as FMS. But strangely, for the most part, there has been an eerie silence about the progression of these solution platforms. More importantly, there has been a complete silence and absence of announcements about deals getting done with clients.

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How Supplier Networks and P2P Systems Fit With E-Invoicing – Defining Networks

- August 24, 2015 6:20 AM | Categories: Invoicing, Research Download, supplier networks, Technology

e-invoicing In our past lives designing, advising and implementing e-invoicing programs with clients, the Spend Matters team has found that far too many people inside procurement and finance organizations are confused about what supplier networks provide and what purchase-to-pay (P2P) and e-invoicing solutions deliver. For example, in many cases supplier networks incorporate e-invoicing capabilities within them; in other cases they incorporate some but not all capabilities.

To understand how e-invoicing programs fit with supplier networks, we should first explore what supplier networks are. Here are a few key points to illustrate how e-invoicing and supplier network capabilities can overlap.

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Spend Matters View: Realizing Accenture’s Future Supplier Network Vision (PaaS Fundamentals)

supplier management I’m glad Accenture put supplier networks at the core of its future vision for technology in its recent white paper: Procurement’s Next Frontier – The Future Will Give Rise to an Organization of One. But the supplier networks of tomorrow will look very different than those that are most common today. Tradeshift, which is pitching a future network vision at the core, is perhaps the first active participant in this space today to leverage some of the early thinking and network capability in practice with platform-as-a-service (PaaS) approach.

PaaS is critical to understand how we’ll build and deploy connectivity hubs between buyers and suppliers at all tiers of the supply chain, as well as applications that support communication. But what is PaaS in the context of a network? As I’ve noted previously, future business networks will be supported by cloud computing models that include PaaS, an approach which will become increasingly productized and prevalent starting this year.

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The Supplier Network of Tomorrow: Accenture and Spend Matters on the Future of Procurement Technology

- August 19, 2015 8:25 AM | Categories: Innovation, Procurement, Supply Networks, Technology

network What will the future of category management look like? Accenture has a strong opinion on the topic, and shares it in their recently published brief, Procurement’s Next Frontier – The Future Will Give Rise to an Organization of One, when introducing the concept of the “virtual category room.”

The notion of extending category management into a digital age is a complex one, especially considering many organizations are still barely crawling in building out category management teams outside of only a few top areas of spend. Yet the technology to support a new type of category management thinking and capability is not that far away. In fact, much of it is already here – it just needs piecing together.

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Dispute, Payment and Cash Management – Exploring Accounts Payable Automation and E-Invoicing Linkages

- August 19, 2015 6:36 AM | Categories: Accounts Payable, Invoicing, Research Download, Technology

e-invoicing Dispute management is a central element of any overall accounts payable (A/P) management process or flow. The same holds true for accounts payable automation systems and programs as well as e-invoicing. This is an area where e-invoicing can shortcut manual involvement by pushing invoices back to suppliers if they fail any type of tolerance.

This article is based on content from the Spend Matters Perspective: Understanding How E-Invoicing Fits. Authored by Spend Matters Founder and Managing Director Jason Busch, with input and guidance from Trade Financing Matters’ David Gustin, it provides a foundation for organizations considering or already putting in place an electronic invoicing (e-invoicing) or purchase-to-pay (P2P) program.

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