Author Archives: Guest Contributor



4 Ways Law Firms Can Evolve Their Procurement Strategies Beyond Savings

forced labor

Spend Matters welcomes this guest post from Clay Fox, senior director at HBR Consulting.

New technology and regulations, increased client scrutiny into risk management protocols and interest in supplier diversity programs, along with expectations around improving law firm operations and internal controls, have all spurred recent changes in law firms’ procurement functions, making one thing clear: procurement’s value can no longer be judged by savings alone. As we navigate the early months of 2018, law firms looking to set themselves apart in the market need to think well beyond the status quo. By focusing on four key areas in 2018, procurement can prove that its value extends far beyond savings.

How to Minimize Exposure Risk in a Global Food Supply Chain

Spend Matters welcomes this guest post from Megan Ray Nichols, a freelance writer covering STEM topics.

We all live in a global society now — a reality that includes, to a greater extent each year, our entire world’s food supply chains. If you and your business represent some of the critical pieces in this vast and interconnected ecosystem, you need to know you’re doing everything possible to insulate yourself, your product and, perhaps most critically of all, your end users from all types of risk that may introduce themselves along the way.

Data to Dollars: How Data Monetization Drives Business Transformation

Spend Matters welcomes this guest post from Pedro Arellano, vice president, product strategy at Birst, an Infor company.

Your department, and entire company, produces vast amounts of data every day. Early on, you may have harnessed enterprise data to improve internal operations and achieve new efficiencies. Perhaps your company has embarked upon a digital transformation journey driven by data. But there is a new opportunity that will distinguish the leading companies from the laggards: monetizing your organization’s data by developing and delivering commercial data products.

Success with Value-Based Design: Identifying Critical Factors of a Key Value Indicator (KVI)

AnyData Solutions

Spend Matters welcomes this guest post from Paul Staelin, senior vice president of go-to-market for business intelligence and analytics at Birst, an Infor company.

Value-based design (VBD) — a methodology that uses analytics to drive meaningful results — has proven to have a great impact on a company’s bottom line. When it comes to VBD, the most important metric for any group of people within a company is the key value indicator (KVI). This metric is often used to evaluate the group manager’s performance, resulting in great reward or potential termination. Once KVIs are identified, they are then arranged into a value plan, which is later addressed and tracked via an analytics solution.

How Relevant is Personality to a Negotiation?

Spend Matters welcomes this guest post from Jonathan O'Brien, CEO of Positive Purchasing. 

There are many personality traits that can both help and hinder a negotiation: a fear of failure, a desire to win or even our own sense of self-belief. Of course it’s not just our thoughts and feelings that are affected by our personalities — they also drive our behavior and make us unique. Personality has a big role to play in any negotiation, as it influences how we see the world and make decisions. This, in turn, drives how we behave. If some or all of our personality is shaped by early environment and through education and experience, it would explain why there is such a thing as culture-specific behavior.

5 Best Practices to Improve Accounts Payable Processes

invoice

Spend Matters welcomes this guest contribution from Steve Johansson, director of marketing at iPayables.

The act of processing your invoices and handling your accounts payable has traditionally been considered a reflexive function of business, but in today's digital age it can become more strategic. Automated accounts payable solutions have undergone a significant evolution regarding efficiency and functionality, primarily through software that streamlines the entire process to ensure that best practices are being implemented consistently. The following is a list of methods you can use to within your accounts payable team to streamline your business and maximize the benefits of digital technology.

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.