Guest Post Content

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.

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.

Who should have access to your projects and budget in your VMS?

Spend Matters welcomes this guest post from Ivana Cvejic, Co-Founder and CSO for Renhead, an end-to-end workforce management technology provider headquartered in Las Vegas.

To outsource work while planning, tracking and budgeting projects, businesses procure transparent data and time management with vendor management systems (VMS). 

While it’s all well and good for businesses to have vital information and tools at their fingertips, that information must be made available to the right people so they can take the appropriate action that best benefits the organization. 

How to prepare for the IR35 reform, the UK’s freelancer work-status mandate for the private sector

Spend Matters welcomes this guest post from Martin Konrad, co-founder of Shortlist, a freelancer management system provider based in San Francisco and with an office in London.

The UK government has announced that the IR35 reform introduced to the public sector in 2017 will also be rolled out to the private sector in April 2020.

What does this mean? In less than nine months, all medium and large private sector businesses using freelancers will be responsible for checking their employment status with every engagement. If it is determined that freelancers should be treated as an employee for the purposes of IR35, the business will need to deduct income tax and national insurance contributions from payments made to freelancers.

In this article, I would like to discuss how companies can determine their freelancer's IR35 status, and how your company can prepare for the upcoming reform.

How smart data extraction makes for smart AP automation

What you really want to know when investigating AP automation solution providers is whether the solution has a complete technology, combining OCR (converting images to text), smart data extraction (transforming the text into relevant data) — and machine learning (remembering the data and populating it into the applicable data fields each time the data is recognized). You are looking for a system that gets smarter the more you use it!

A look at GovShop and its agile insights as feds shift software development methodologies

Spend Matters welcomes this guest post from Public Spend Forum, a sister site of ours. It runs GovShop, a single place to search online, find and connect with suppliers for the public sector market. We'll occasionally highlight GovShop's capabilities in our Friday series on public spend. Today's story looks focuses on agile resources that can be found with GovShop.

The federal government has begun making significant strides in the monumental task of shifting software development methodologies from traditional waterfall development to a more modern agile development methodology. While this road will continue to be a long one, there are pockets of excellence in DoD, CMS and the VA (just to name a few). As much as this transition requires both culture change and resources on the government’s part, it is also highly dependent on a new breed of government contractors that are nimble, highly motivated, tech-savvy and of course agile.

Within this community of agile vendors, there are a few different disciplines that are collectively aiding the transition. These disciplines can be thought of as doing, advising and teaching. Within GovShop, these disciplines have been identified as Agile Development, Agile Coaching and Agile Training.

How to Use Drones in the Public Sector and Procure Their Services

Spend Matters welcomes this guest post from Public Spend Forum, a sister site of ours that each week helps us look at public sector procurement. This week we explore the increasing use of drones — in agriculture, construction, emergency response — and how to procure those services.

We are truly in the modern era — drones are now everywhere, no longer just tools for movie making or toys for tech-savvy teens. And “everywhere” includes their increasing use in the public sector. Between 2016 and 2017, drone bids and RFPs saw a growth of 194%. To properly cover this important topic, this article will focus on:

— What drones can be used for in the public sector
— Tips to keep in mind when procuring drones

Contract Workers Needn’t Be Bad News — Unless You Allow Them to Be

Spend Matters welcomes this guest post from Pradeep Chauhan, founder of OnContracting, an online directory of U.S. staffing agencies that helps jobseekers find temporary contract jobs.

Companies’ procurement of contract workers has in recent times become a flashpoint, sometimes tarnishing the pristine reputations of even the most reputable companies. A number of stories in the media have covered reports that some of the best companies are mistreating their contract workers. In damage control mode — and sometimes under pressure from their own employees — companies have responded reactively to these stories, updating their policies and buffing up their legal and audit teams but not after getting a black eye in public.

Why are businesses and contractors facing this now now? And what can companies do to manage it better? In this article, I’ll try answer both of those questions.

The Evolving Power in Spend Visibility

Spend Matters welcomes this guest post from John Callan, Senior Director at Coupa.

It’s no secret that businesses struggle with full visibility when it comes to spend management, with many still believing that it simply isn’t possible to find a comprehensive solution that is easy to implement but will also deliver value. Time and time again, we see the price that businesses pay when they lose control over the procurement process.

Spend that is fragmented across multiple categories and suppliers often leads to payments being incorrectly classified — or not classified at all — due to inconsistent and disjointed spend processes. This can render payments invisible, easily becoming the pocket where procurement fraud is concealed.

There are also many operational considerations. When spend is miscategorized, it results in poor, inaccurate data, potentially damaging the credibility of the procurement process. Business leaders need more comprehensive, effective and data-driven business spend management (BSM) solutions.