Afternoon Coffee: Medius-Spend Matters to host AP automation webinar; Procter & Gamble’s prices to rise with higher commodity costs; SolutionMap updated today for Spring 2021

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A week from today, Medius, a spend management and AP automation specialist, and Spend Matters are joining forces for a free webinar discussing how organizations can drive growth through best-in-class process efficiency between procurement and AP.

The webinar will take the lens that AP is often the last step in a procurement process that gets left out. Medius’ Senior Sales Executive for UK and Ireland, Dmitri Krasik, will speak on this theme while Jenny Draper, Spend Matters’ Global Head of Client Services, poses questions to guide the conversation.

Attendees to the Medius-Spend Matters webinar will hear how a partnership between AP and procurement departments is critical in the aftermath of the Covid pandemic. The two can work together to become allies, allowing for quick wins and savings to be achieved. A few of the insights that Krasik will share include what organizations are doing to align procurement and AP, and what technology is important.

How do you find the right procurement technology and vendor for your company? Spend Matters’ new 5-step “Procurement Technology Buyer’s Guide” can help — with how-to documents, checklist templates and other tips.

“We are looking forward to this discussion,” Krasik said, “because it will finally cement awareness that getting procurement and AP to work together is fundamental to making the most of negotiation and sourcing activities. While they are two very different departments, with different metrics of success, the success criteria is tied, and in fact AP and procurement are natural allies. And I intend to demonstrate why.”

The Medius and Spend Matters webinar will take place Tuesday, April 27, at 2 p.m. BST/CET in Europe, or 9 a.m. US Eastern time. To learn more and register for the free event, visit the “Why AP is a Fundamental Partner to Procurement” webpage.

Procter & Gamble set to raise product prices because of high commodity costs

Procter & Gamble (P&G) on Tuesday announced it will raise prices for certain products like baby care, feminine care and adult incontinence products in the coming months because of rising commodity costs, according to CNBC.

The announcement falls in line with other high-profile companies, like P&G competitor Kimberly-Clark and beverage company Coca-Cola, also announcing price increases. The companies are taking a gamble that consumers will be willing to pay more for the brand version instead of opting for cheaper labels. However, some of that depends on the economic recovery from the Covid pandemic and if consumers will have cash to spare, the article said.

P&G said its price increases will vary but will be in the range of mid-to-high single digits. CNBC reported that Chief Operating Officer Jon Moeller said on a press call that the company is assessing raw material costs and foreign exchange impacts on other categories as well, which could mean more price increases down the line.

“This is one of the bigger increases in commodity costs that we’ve seen over the period of time that I’ve been involved with this, which is a fairly long period of time,” Moeller told analysts, CNBC reported.

Spend Matters releases SolutionMap Spring 2021 rankings

Today, Spend Matters released its latest SolutionMap rankings, with 75 solutions featured in the Spring 2021 update. More than half of the vendors updated their customer reference data. For this release, Spend Matters refreshed customer scores as needed but paused the update to our analyst scores because analysts are reworking the vast RFI for the Fall 2021 update.

SolutionMap compares procurement technology solutions across 13 categories, like Sourcing, AP Automation, Spend Analytics, and Supplier Relationship Management & Risk. The 75 solution rankings now come with TechMatch℠ for getting to a shortlist fast and with a 5-step buying guide to sell your company's stakeholders on the need to digitally upgrade your business processes.

SolutionMap is free to use. See the latest SolutionMap Spring 2021 release here.

The Spend Matters global monthly newsletter for April goes out soon! Are you on the list? Don't miss out for 2021! 

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