Procurement news from the US – Weekly Round-Up

Jason is enjoying a much-needed vacation this week and next, so it’s been pretty quiet around here. We’ve still had a very interesting week, content-wise, so let’s jump in.

Technology, Technology, Technology

Examining SAP Supplier InfoNet (Part 1)

Today, the original vision of Open Ratings lives on in a new SAP solution, Supplier InfoNet, which takes the same premise of Open Ratings (i.e., combine multiple indicators, in this case operational, demographic, news, and financial data), and layers them on top of opt-in industry social networks built upon the sharing of aggregate data on a multiple tier level. By bringing in today's dynamics of social networking and information sharing (albeit in a controlled, secure manner) into the mix, SAP has taken the concept of Open Ratings to an entirely new level. You will learn more about the details in this multi-part series. (See Part 2 and Part 3 as well)

SciQuest: A First Step to Integrating Sourcing and Supplier Management with P2P (Part 1) SciQuest made the rather smart -- in terms of both valuation and product and upsell synergy -- acquisition of AECSoft late last year (see our coverage of the deal here, here, and here). Just over half a year later, the company has taken the first integration steps to joining the two separate solutions together. According to this announcement from last week, "the solution reflects the first phase in integrating SciQuest's eProcurement suite with the supplier management and sourcing technology from AECsoft...The new release integrates Sourcing Director into the base modular source-to-settle solution suite. This integration includes seamless process flows from requisitioning to conducting sourcing events and from sourcing events back into the requisitioning process." (See Part 2, Part 3, and Part 4)

And some truly fantastic guest content!

New regular contributor Nick Peksa, of Mintec Ltd., asks: With the World Stock Markets Crashing -- Should We Print More Money? “The markets remain uncertain for the time being amid the on-going fears of the European debt crisis and fears that the Federal Reserve did not announce any measures to boost the US economy. Why don't we print some more money? In reality, I have no idea what effect printing bank notes would have however; it certainly makes an interesting introduction to the commodities behind cold hard cash.”

Sherry Depew of Lavante talks about “creative credits”: Creative Credits -- Suppliers Can Use Your Credits in Unusual Ways to Their Benefit “Does your company have a policy against paying finance charges? Do you know if suppliers apply credits to unrelated invoices? Unless you are using a technology-driven statement audit recovery process, chances are high that both of these instances are happening out of sight and beyond your control. Even if you have a traditional AP audit project in place, unless you are performing a deep-dive across the breadth of your supplier spend, I can guarantee that you are losing money to what I call creative credit application.”

Like the show CSI? So does Mark Schnaffer, from Verian. The New CSI (Cost Savings Investigators) Part I: Getting Good Crime Scene Data “I have been watching CSI: Crime Scene Investigation since it first aired in 2000. Each episode is a study in procedure, strategy and deep analysis. It's a fascinating show and no surprise that it ranks number 3 in DVR playback (3.07 million viewers). I was watching an old episode last week when a thought occurred to me: spend analysis is not that different than crime scene investigation. It takes a plan, adherence to procedures, an open mind, and the willingness to see some gruesome things.”

The stores are already getting winter coats and boots in -- so I'm protesting this weekend by heading to a baseball game for cheap beer and hot dogs. SUMMER FOREVER!! Have a good one, all.

- Sheena Moore

 

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