Author Archives: Guest Contributor



Coupa CEO implores procurement pros to lead businesses through the coronavirus crisis

Spend Matters welcomes this guest post from Coupa CEO and Chairman Rob Bernshteyn, whose letter about procurement’s role in tackling the coronavirus crisis originally appeared on LinkedIn.

It's been a long time coming, and no one wanted it to occur under these circumstances, but procurement is now a primary focus of attention at your company. It’s time to show everyone what you can do. Your company is asking for you and your department to step up like never before, under the tremendous pressure we are all under, and lead. Specifically, you can provide leadership in at least four key areas right now.

Coronavirus has global logistics sector reeling

Spend Matters welcomes this guest post from Dan Khasis, CEO and Founder of Route4Me, a global route optimization software company.

Since China reported the first case of coronavirus to the World Health Organization (WHO) about 12 weeks ago, the arteries of the global logistics sector have begun to clog up.

The measures taken by governments to curb the spread of the virus, such as a lockdown of manufacturing units and social distancing, are crimping the demand of goods and threatening to disrupt global supply chains.

As coronavirus outbreak forces firms to cancel events, these tips can help you negotiate with the venues

contract

Spend Matters welcomes this guest post from Talia Mashiach, the Founder and CEO of Eved, a spend management and payments platform built for meetings and events.

Knowledge is key to any negotiation, and this is no different in situations when you cancel or postpone a meeting or event. Cancellations are happening worldwide as a precaution against the coronavirus outbreak, but many reasons can lead to calling off or delaying an event. So understanding how to handle this situation is important.

Supplier onboarding: Top 12 ways to speed up the process

virtual supplier room

Spend Matters welcomes this guest post from Jag Lamba, Founder & CEO of GetCerta.com, a provider of a SaaS platform for supplier management and contract lifecycle management.

At many large enterprises, it can take 3-6 months to onboard a new supplier. This is because, as each new supplier adds multiple layers of risk (operational, reputational, data security and privacy, compliance, regulatory), several internal functions (e.g., procurement, legal, infosec, compliance) need to get involved to mitigate those risks. One prospective client told me recently, after a particularly painful supplier onboarding experience, that upon looking through her emails retroactively she realized she had interacted with 20 people, created eight separate artifacts and touched 15 unique systems to onboard a single supplier. Obviously, things can and must improve.

Faster supplier onboarding doesn’t have to come at the expense of strong risk controls. In fact, the only way to move faster is with better risk controls.

Here are my top 12 strategies for onboarding suppliers faster while lowering risk.

Why Sustainable Growth Will Outshine Economic Uncertainty in 2020

future

Spend Matters welcomes this guest post from PJ Bain, the CEO of PrimeRevenue, a provider of working capital financial technology solutions.

In 2019, the economy defied expectations. Despite talk of a downturn and hordes of executives sitting on pins and needles, it never materialized. Economists were baffled by the juxtaposition of record-performing markets amid indications that a recession was on the horizon. To be fair, in any other cycle, those predictions would have probably come true — but not this time. It’s hard to remember a time when the economy was this … well, mystifying.

As we enter 2020, global uncertainty is still the name of the game. But businesses can find ways to invest in sustainable growth in uncertain times.

Supply chain outlook: Digital visibility, agility are needed for this year’s top 10 concerns for manufacturers

Global Risk Management Solutions

Spend Matters welcomes this guest post from Frank McKay, the Senior Vice President & Chief Procurement Officer for Jabil Inc., a global manufacturing solutions company with a focus on electronics.

After weathering volatility over the past few years, the business climate in 2020 is shaping up to be a better year for supply chain managers, thanks to increased market predictability, especially for sourcing materials. Still, the best defense — and greatest offense — for managing dynamic markets, product complexity and unpredictable supply conditions is an intelligent digital supply chain that delivers visibility, agility, speed and resilience. With that in mind, here are Jabil’s top 10 predictions for 2020:

How Mastercard leveraged its business ecosystem to identify new revenue opportunities  

supplier network

Spend Matters welcomes this guest post from John Thielens, the CTO of Cleo, an ecosystem integration software company that keeps its eye out for developments like Mastercard’s partnerships.

Recently, Mastercard unveiled a series of partnerships targeting an array of industries and services in an effort to further push its business ecosystem beyond the realm of electronic payments. One of these initiatives included a blockchain-enabled partnership designed to increase the transparency of companies' supply chains. Let’s take a look at the strategy behind this partnership and the value it brings to Mastercard’s customers.

Christmas with family is priceless, but turkey and ham dinners are pricier this year

Spend Matters welcomes this holiday guest post from Mintec, which provides thousands of food commodity prices and helps brands manage spend with Mintec Analytics.

Sharp rises in meat and potato prices are likely to affect the cost of a typical Christmas dinner in the U.S. this year. The decline in prices of cranberries and turnips are not enough to offset the rises in turkey, ham, potatoes, carrots and sweet potato prices.

The Mintec U.S. Christmas Dinner Index for a turkey dinner has risen by 6% year on year, but ham dinners have risen by a whopping 19% year on year.

It may be small consolation, but the Gingerbread Index has increased by a comparatively measly 1% y-o-y.

Thank you, Mintec, for the insights — and Merry Christmas to all!

The evolution of product cost management tools and the state of the art (Part 2): The 2nd revolution

procurement

Spend Matters welcomes this two-part guest post from Eric Hiller, Managing Partner of Hiller Associates, a business performance consultancy specializing in product cost management (PCM).

Our first article in this series looked at product cost management software and how it fits in with the world of procurement software in the earlier years of development. This Part 2 focuses on the second wave of developments in PCM: feature-based automated 3-D CAD costing tools, advanced cost-accounting and control systems; the role of little and big data; and the future of product cost management.

The evolution of product cost management tools and the state of the art

Spend Matters welcomes this two-part guest post from Eric Hiller, Managing Partner of Hiller Associates, a business performance consultancy specializing in product cost management (PCM).

A lot has happened in the world of procurement software in the last 20 years. Purchasing has added a lot of new tools to what was mostly a relationship-focused discipline. These developments include:
* Data-rich environments of spreadsheets, MRP and ERP systems
* Supply chain management and supplier relationship management systems
* Online auctions
* Spend analytics tools/product cost management (PCM) software

Although the relationship side of the business is just as important as ever (some might say more important), purchasing analytics are here to stay, and they continue to become more prevalent in the discipline. The same is true for product cost management tools and their offshoots of service cost management tools. In this series, I am going to discuss the evolution of these tools and the state of the art.

Procurement, operations and accounting disconnected: Expense management is broken, but 4 strategies can help

Close-up Of Businessman Stopping The Effect Of Domino With Hand At Desk

Spend Matters welcomes this guest post from Rich Ham, the CEO of Fine Tune, which partners with companies to source, negotiate, manage and audit certain burdensome expense programs.

Procurement, operations and accounting are three disparate parts of organizations that are simply not equipped to efficiently share information and work together so that individual expenses are optimally managed. This fundamental disconnect between them is costing millions and impacting the growth of companies everywhere.

Let's look at the issues and four strategies to help.

How digital transformation is reinventing finance and accounting departments

Spend Matters welcomes this guest post from Manoj Shroff, Accenture Operations’ managing director, finance and accounting business process services lead.

Thanks to digital transformation technologies like real-time data analytics, robotic process automation (RPA) and artificial intelligence (AI), financial management is no longer about looking back. It’s all about looking forward, with predictive insights that yield positive business outcomes at scale. While our industry has undoubtedly been disrupted, it’s also been dramatically improved.

These changes (and their benefits) are flowing far outside of the finance department too: Executives and department heads — CPOs and CIOs included — no longer have to repeatedly report back to the CFO. Today, with intelligent tools at their fingertips, they can easily access, share and analyze critical organizational financial data.