Author Archives: Guest Contributor



How Blockchain and Bitcoin Can Disrupt the AP Process — In a Good Way

blockchain

Spend Matters welcomes this guest contribution from Laurent Charpentier, chief innovation officer, Yooz Inc.

Blockchain. Cryptocurrencies. Bitcoin. These are certainly hot topics in today’s daily business news. It’s all still a bit of a mystery to most of us. It started with bitcoin (a cryptocurrency) in 2013 and the idea of a digital currency used to buy anything from music to cupcakes couldn’t have been more exciting — or more timely — as technology continues to advance at lightning speed. And blockchain is the platform used for verifying and recording transactions that’s at the heart of bitcoin, and is considered as having the potential to reshape the global financial system, among other industries.

Transforming Supplier Management: From Policemen to Innovation Catalyst

Spend Matters welcomes this guest post from Dave Tienstra, Partner at Information Services Group (ISG).

Modern enterprises are evolving quickly, and with that transformation, their expansive, locked-in, long-term supplier relationships are giving way to digitally enabled, data-driven supplier ecosystems marked by collaboration, a fluid set of suppliers and a mutual exchange of data and information that drives new insights, delivers new innovations and empowers a new way of managing supplier relationships.

Is Strategic Sourcing the Best Route to Smarter Bunker Procurement?

Spend Matters welcomes this guest post from Gaurav Singh, consultant at GEP.

Since the internet became commercially popular in the early 2000s, companies have made attempts to change the way the market trades bunkers. We’ve come a long way since 2000. Now we’re used to conducting transactions online in our everyday lives and have seen the rise of the “digital ship.” But although shipping was expected to be among the first industries to embrace technology, it has ended up as the last one to adopt new ways of doing business.

Easing the Pain of Hotel Booking and Travel Spend Management

services sector

Spend Matters welcomes this guest post by Julian Kulkarni, vice president of marketing at Roomex.

The lodging offered by your preferred supplier is 20% cheaper and you have never had any reason to doubt the quality of its service. But a senior sales executive insists that you book lodging at a swanky hotel that’s closer to a key account – otherwise the hot deal he is negotiating might be at risk. Trouble is, the more expensive hotel may not comply with your strict T&E policy. You just don’t know and you are having trouble getting answers. So, what do you do? It’s a classic procurement manager’s dilemma. You’d like to be flexible and make an exception, but if you are not careful, an exception can become the norm, and costs (both direct and indirect) spiral out of control.

Commodity Price Risk Management: For the Many, Not the Few

Spend Matters welcomes this guest post from Tom Lawrence, director at Flow&Ebb. 

Commodity markets affect us all. Wild swings in commodity prices affect how much we pay for groceries, how much we pay for aluminum cans for our organic soda, how much we pay for electricity. Yet traditionally only large businesses had the budgets to pay for, and enough clout to embed, commodity price risk management into their supply management strategy.

Nothing New Under the Sun: Taking an Advanced Approach to Supplier Diversity

supplier diversity

Growing up I remember hearing two phrases constantly: “There is nothing new under the sun” and “Numbers never lie.” Both statements I have found to be half-truths. Try telling dinosaurs, phone booths or the former milkman that nothing ever changes. People, things, ideas — all evolve. The time has come for supplier diversity to evolve, as well.

Taking Control of Your Unmanaged Indirect Spend

AnyData Solutions

Spend Matters welcomes this guest post from Scott Dever, vice president of member development at Corporate United.

Targeting areas of unmanaged indirect spend is a key way procurement leaders can deliver value and maximize savings, and ultimately extend their reach and influence. Traditionally, this unmanaged spend has challenged procurement for a number of reasons. Decentralized decision-making and fragmented buying creates a lack of visibility into spending, supplier proliferation and limited opportunities to support competitive sourcing. But increasing spend under management enables teams to realize many worthwhile benefits, including incremental cost savings, supply base consolidation and reduced risk.

Managing Employee Spend Strategically

BuyerQuest

Spend Matters welcomes this guest post from Guy La Corte, general manager, Americas, at Concur.

Employees have access to and are spending more of your company’s money across more spend categories using more payment methods than ever before. And for finance and procurement managers, it’s increasingly challenging to track spending in a world where employees are paying supplier invoices directly with company checks; booking and managing travel directly on their mobile devices; using their corporate, ghost, virtual, corporate or even personal cards for just about everything; and vendors are marketing directly to them with upgrades and offers. This employee-initiated spend has become the largest unmanaged spend category in almost every company’s financial program.

Supply Chain and Procurement: Risk Management Strategy

Spend Matters welcomes this guest post from Maria Cecília Siqueira, of GEP.

Risk management has been discussed exhaustedly in every business forum in the last couple years. Yet in day-to-day operations, it may still be linked to its origins as a paper process restrained to the legal and compliance departments. Per EY studies, 82% of institutional investors would pay a premium price for effective risk management. Nevertheless, it would be safe to say that today risk management faces the “risk of apathy” with business managers.

8 Steps to Designing a Strategic Meetings Management Program

Spend Matters welcomes this guest post from Lalit Sharma, consultant at GEP.
br> With the advent of modern communications technologies, the world has indeed become a smaller place. This has not only helped individuals connect with those who matter in their lives, but has also empowered organizations by providing virtual platforms that allow employees and experts engage in discussions without having to physically be in the same room.

Why Partial Automation Will Be a Smart Tool — Not a Replacement — For the AP Clerk

e-invoicing

Spend Matters welcomes this guest post from Laurent Charpentier, chief innovation officer at Yooz North America.

Accounts payable (AP) clerks at leading companies are already seeing machine-learning programs automate and streamline their daily work, flagging suspicious invoices, reducing cycle time and saving their organizations money. Artificial intelligence is boosting efficiency and making life easier for thousands of AP professionals today. But many of these professionals are undoubtedly wondering if sophisticated software might one day put them out of a job.

10 Things Procurement Professionals Must Consider Before Hiring Labor for Their Organization

Spend Matters welcomes this guest post from Deepesh Jethwani, consultant at GEP.

There are times when you need to hire non-permanent labor for your production line or when your contract with an existing labor providing agency is about to expire. Before you decide to launch a request for proposal (RFP) with suppliers, here are the top factors you must consider as a procurement professional.