Author Archives: Spend Matters Team

CORONAVIRUS RESPONSE: riskmethods — our first line of COVID-19 supply risk defense

In response to the coronavirus outbreak, this Spend Matters PRO series examines selected technology providers that procurement, finance and supply chain organizations should explore to reduce and mitigate COVID-19 supply risk — and to recover faster on the upswing. The introduction to this series grouped the technology providers that we will cover into five specialty areas, with one vendor shown as an example:

* Supply risk management (e.g., riskmethods)
* Sourcing and commodity management, including advanced sourcing, direct sourcing and commodity management to help dynamically plan and source (e.g., Jaggaer)
* Advanced procurement analytics to enable direct procurement and/or to perform “spend planning” when demand drops out or spikes (e.g., Sievo. See the series profile of Sievo here.)
* P2P that emphasizes working capital, dynamic discounting, payment control and related finance priorities (e.g., Basware)
* Fraud, P2P and Vendor Management Safeguards (e.g., APEX Analytix)

Today, we profile the first essential COVID-19 procurement technology vendor: riskmethods.

Riskmethods is a fit-for-purpose, real-time global event monitoring solution that can be “loosely coupled” from an integration perspective, allowing rapid deployment. It showcases the ability to analyze COVID-19 event impact, identify mitigation approaches, define plans and enable the ongoing monitoring of countries, regions, suppliers and facilities — among other capabilities.

Let’s dive in.

Through March 2020, a special PRO Expert Survival Pack is available to procurement practitioners only* at up to 50% off - Learn more

Afternoon Coffee: Find go-to vendors to weather the coronavirus crisis; small businesses reacting to virus fallout; Pentagon may revisit JEDI-Microsoft contract

In response to the coronavirus outbreak, Spend Matters’ analysts have begun a series that highlights which procurement technology vendors that businesses should consider to cope with disruption from the COVID-19 pandemic. Also, small businesses give a snapshot of how they're faring with the fallout from the virus outbreak. In other news, the Pentagon has asked a court to let it reconsider parts of the $10 billion JEDI cloud contract that it awarded Microsoft over Amazon — specifically the bidders' price proposals and online marketplaces. Afternoon Coffee: Have a good and safe weekend.

Afternoon Coffee: Coronavirus rattles markets; Saudi, Russia in oil battle; GE Appliance opens logistics center

Concern over the coronavirus outbreak continues to roil the stock markets Tuesday, a day after the worst stock performance in 12 years, CNBC reports. In other news, Saudi Arabia said Tuesday it would ramp up its supply of oil into the market as it battles Russia for market share. U.S. officials want a steady oil market that doesn't undercut U.S. shale oil producers. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Coronavirus news updates; Amazon gets Microsoft’s JEDI Pentagon contract delayed; Boeing-FAA at odds on 737 MAX’s wiring

Amid coronavirus concerns and plummeting oil prices, stock market trading was suspended. China's importance to the world's supply chains shows in the fact that even companies that moved their supply chains out of China are still affected by it. In other news, the $10 billion Pentagon JEDI contract is still in dispute, with Amazon winning an injunction. The judge ruled the bids weren't evaluated properly. Also, Boeing and the FAA are discussing problems with the 737 MAX's wiring — in addition to its software issues that have the fleet grounded. Afternoon Coffee: Procurement and supply chain news.

Afternoon Coffee: AP says China’s forced labor aids tech firms; coronavirus news updates; Toptal, Guidant partner to ease talent shortage

The Associated Press has another report about China and the use of forced labor from thousands of people from the Uighurs ethnic group, many of which are Muslim. The AP reports that forced labor is used in Nanchang, China, to make computer screens, cameras and fingerprint readers for tech companies like Lenovo, Apple, Dell and others. In other news, Toptal and Guidant Global partner up to take on the talent shortage. Also, get more news on the economic impact of the coronavirus. Afternoon Coffee: Procurement and supply chain news.

Afternoon Coffee: Coronavirus spurs Fed’s emergency rate cut, ISM says manufacturing slowed; hemp supply chain on the rise

The U.S. Federal Reserve cut interest rates in an emergency response to the coronavirus disrupting supply chains, panicking Wall Street and slowing economic growth, CNBC reports. And manufacturing growth took a hit in February after rebounding in January from five straight months of not growing. In other news, three giants of the hemp industry join forces in one company. Afternoon Coffee: Procurement and supply chain news.

As coronavirus spreads, vendors of supply risk management share their insights

FM Global Resilience Index

The coronavirus outbreak has affected supply chains around the world as the virus itself has spread from China to many countries across Asia, in Europe, the Middle East, Canada and the United States, which in recent days has experienced its first deaths from the respiratory ailment.

U.S. cases of COVID-19, the official name of the virus, have surpassed 100, The Associated Press reported Monday.

Nancy Clinton of Spend Matters Europe has highlighted information available from vendors who do supply risk management. Avetta and other vendors in this post are go-to sources for coronavirus updates, status reports and advice for procurement and supply chain professionals.

Let's take a look at the risks and ways to mitigate them.

Afternoon Coffee: Jack Welch, celebrated as CEO of GE, dies at 84; Reuters details prohibited Huawei-Iran shipment; coronavirus news

Noted CEO and businessman Jack Welch died in Boston at 84, The Associated Press reported Monday. Welch led General Electric from 1981 to 2001, and he became known for his business acumen and style. In other news, Reuters reports that 2010 shipping documents from Huawei, China’s mobile phone carrier, sent prohibited U.S. computer components to Iran in violation of U.S. sanctions against Iran. Coronavirus news includes U.S. deaths and developments from around the world. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Coronavirus news updates; Appen on upswing; Upwork releases 2019 results; Avetta CEO interview

Fallout from the coronavirus has spurred nations and companies to action. Read a roundup of the latest news on the outbreak. In other news, earnings reports offer some insight into Appen and Upwork. Also, Spend Matters Europe’s Nancy Clinton interviews Avetta CEO Arshad Matin about his new role and the global supply chain risk management firm. Afternoon Coffee: A supply chain of news and insights.

How SolutionMap compares to Gartner, Forrester, IDC in rating procurement technology

When it comes to rating procurement technology, what do you trust — your gut or your data?

In a new white paper, Azul Partners and Spend Matters Founder Jason Busch compares the Spend Matters SolutionMap ratings approach to other analyst ratings methodologies, including the Gartner Magic Quadrant (MQ), the Forrester Wave and the IDC MarketScape. The fundamental argument that Busch makes is that the "data" that drives legacy rating models and vendor placement is circumspect in terms of accuracy and predictive insight. And that is not because the analysts at these firms are any less smart or expert than those at Spend Matters. Quite the contrary, in fact. It's the reliance on their very expertise that is creating the problem!

But how can that be?

Read our white paper to find out. [paperdownload-button text="Download Now" url="/wp/wp-content/uploads/2020/02/comparing_solutionmap_to_other_ratings_methodologies_21320.pdf?utm_source=site&utm_medium=button&utm_content=smap-paper1"]

Afternoon Coffee: Coronavirus may cut U.S. growth, White House seeks $1.8 billion; Aavenir adds a sourcing tool; $3 billion India-U.S. defense deal; Hershey’s banks on its supply chain

Catch up on news about the coronavirus outbreak: Goldman forecasts that it could curb U.S. economic growth, and the White House asks Congress for $1 billion to fight the coronavirus. In other news, Aavenir adds a sourcing tool; $3 billion India-U.S. defense deals; Hershey’s says investment in its supply chain is paying off. Afternoon Coffee: A jolt of procurement and supply chain news.