Author Archives: Kyra Senese

Real-time finance data seen as key to CFO planning in uncertain times, Accenture finds

real time financial data

Last year brought many challenges and forced business leaders to adapt to volatile market conditions as the coronavirus crisis demonstrated the need for real-time data to inform business decisions, according to a recent Accenture study.

But even as executives long for real-time visibility they also see technology issues as a barrier, despite its benefits, the study found. They have questions about paying for the technology, implementing it and finding the right people to run it.

Coronavirus crisis affected the most negotiated contract terms of 2020, Icertis survey shows

Unforeseeable circumstances brought on by the coronavirus pandemic added significant pressure on companies this year as executives had to adapt, and supply chains were strained globally.

A new report by Icertis, a provider of contract lifecycle management technology, evaluated the extent to which the crazy year dominated by the pandemic affected negotiated contract terms.

Independent professionals are in demand, picky: 5 tips for companies to be a client of choice

As about 7.6 million independent professionals annually provide their skills as contingent or contract-based employees, a report by MBO Partners emphasizes the need to support these in-demand staffers in the new COVID-19 world. Throughout the past 10 years, the economy has seen a rapid growth in the independent workforce, which includes about 41 million Americans of various ages, income levels and industries, MBO Partners found in its “Client of Choice Report 2020.”

Ethical technology, human experience platforms among Deloitte’s 2020 tech trends

With the new year in full swing, executives are evaluating how best to leverage their technological tools and stay ahead of the curve. Deloitte recently released “Tech Trends 2020,” the company’s 11th annual evaluation of emerging technology trends. Several trends that the company highlighted in the report have emerged in reaction to long-term IT challenges, while others address the technological needs of large firms, Deloitte said.

To achieve digital growth, top chief supply chain officers change the culture, report says

An Accenture report found that chief supply chain officers who outpace their peers in scaling digitally enabled solutions and fostering positive customer experiences are CSCOs who are good at change management. More than half of supply chain leaders said a lack of “change-ready culture” was their biggest obstacle to success, according to Accenture.

CSCOs oversee a range supply chain issues. CSCOs primarily focus on responsibilities such as managing supplier partnerships, product innovation and product delivery. Reimagining their workforces to combine the best of human and machine capabilities is not part of the traditional CSCO role — but is quickly becoming a necessary step toward success, the report said.

How to assess supplier risk management: An overview report and checklist

Procurement professionals must consider many factors when working to protect their organizations from risks — from reputational problems, compliance issues, changing regulations to cyber security and social responsibility. A WBR Insights report built on advice from the consulting firm GEP and the technology provider Global Risk Management Solutions (GRMS) focuses on supplier risk management.

Contractor, supplier relationships come with many financial risks, Avetta warns

supply risk

Managing supply chain risk is an important area of focus for companies to consider when working with suppliers and contractors at various levels of business. A recent study from the business-qualifying firm Avetta, “The Importance of Assessing Supplier Financial Stability,” evaluates an array of research on the issues and pinpoints the many risks that companies face when choosing and working with contractors and vendors.

Use of eProcurement software evolves to mitigate costs, risks and add strategic insights, report says

As business executives become more interested in the use of electronic procurement software — or eProcurement — as a means to bring about more proactive results, industry leaders have begun to use the technology to target new methods of cost reduction and to yield growth and insights amid evolving industry standards.

In a recent report by Levvel Research, “2019 Procurement Insight Report,” experts discuss industry trends and business spend management strategies, which were collected in a market-wide survey conducted in April 2019. The research, sponsored by Coupa, evaluates how procurement automation software is being implemented and its effects throughout the industry. In Part 1 of this series, the report said one trend is that more business that are smaller and mid-size companies are considering the switch to digital procurement solutions.

In this article, we’ll look at what the study found about companies that have already adopted digital procurement.

Smaller, mid-size businesses now looking to digital procurement solutions to cut costs, bolster strategy and growth, report says

Business leaders in the supply chain procurement space are continually seeking out ways to streamline procurement methods and cut costs. As the possibility of a looming recession remains on the minds of decision makers, procurement-minded industry members are considering how electronic procurement software — aka digital procurement or eProcurement — can ease these efforts.

Levvel Research recently launched its “2019 Procurement Insight Report,” which evaluates current industry trends and spend management strategies following a market-wide survey conducted in April 2019. The report, sponsored by Coupa, examines the ways in which procurement automation software is being implemented as procurement teams continue to shift.

EcoVadis, NYU report on the state of sustainable procurement


Sustainability efforts paired with technological growth continuously affect the way business leaders plan for their companies’ futures. As budgetary and operational plans are considered, thought leaders in the supply chain and procurement space are evaluating sustainability as an asset that can stifle risk and bring about further economic growth.

EcoVadis, a firm that works to provide sustainability risk and performance ratings for global supply chains, recently launched its 2019 Sustainable Procurement Barometer in partnership with the NYU Stern Center for Sustainable Business.

Recession is on the mind of many procurement, finance professionals: Study


Despite economic growth, recent headwinds have procurement and finance professionals considering how to deal with a possible recession in the next year or so, according to a survey by the data-aggregation firm Suplari, which published “Plans & Tactics to Recession-Proof the Enterprise in 2019 and Beyond.” The study notes that many recent surveys spotlight executives’ concerns that job markets, credit risks and tariff policies could push the economy to decelerate. The survey evaluates how to avoid disruptions of performance, growth and profitability, considering what strategies can be employed swiftly to identify cost-savings and risk-optimization.

Automation, digitization, global trade pose challenges for business leaders, report says

A new report by The Economist Intelligence Unit, sponsored by Basware, is shedding light on how technology innovation and shifting global trade dynamics are challenging businesses.

The report considers three trends — automation, digitization and shifting trade dynamics — that finance and procurement executives expect to affect their companies most, what their impacts will be, and how business leaders are preparing for the developments. The report’s findings are based on a survey of more than 400 finance and procurement leaders in the U.S., the UK, France and Germany.