Procurement Content

Beginner’s Guide to the Procurement Cycle

Spend Matters welcomes this guest post from Public Spend Forum, a sister site of ours.

Procurement isn’t a household topic, but it is a ubiquitous process in the business world, nonetheless. Let’s break down the concept to make it more accessible.

At first glance, procurement might seem daunting to the unfamiliar; the behind-the-scenes process can be dizzying. While there’s a lot of meat on the procurement bone, it can be broken down and more easily understood by dissecting the pieces that make up the process. You see, procurement isn't just one set-in-stone idea or methodology, and it’s also not something that can be done overnight. It’s a dynamic process that can take any number of forms. It’s facilitated by the individuals or entities that play a role in its operation and the factors that couple and interact with each other throughout all the steps.

CRO-to-CRO Video Series: Episode 3 Peels Back the Digital Procurement Platform Onion

So you’ve decided your procurement function needs to “go digital” with its software solution needs.

But where to begin? How do you buy this stuff?

“You start with having your business challenges in mind,” says Michel Janssen, one half of the "CRO-to-CRO" discussion pairing we've been spotlighting with a series of videos over the last couple of weeks.

Recently, Janssen — chief research guru of Everest Group, a research and management consulting firm based in Dallas, Texas — had a chance to sit down with his  former colleague Pierre Mitchell, chief research officer of Spend Matters.

In Episode 3 of this video series, the two CROs share a comprehensive framework they call a digital capability platform, which paints a holistic picture for prospective buyers. Ultimately, through this framework, Janssen and Mitchell uncover what is available to buy (point solution or suite?), how a buyer can bundle solutions and/or capabilities, and who owns — or should own — the responsibility for digital decision making.

Why Well-Run Hospitals Need Tailored Technology to Care for Patients, Business

healthcare

As one of the nation’s largest nonprofit health systems, BJC HealthCare needs to provide consistent, high-quality patient care across all of its hospitals while maintaining operational efficiency. When the St. Louis, Missouri-based healthcare provider began its search to upgrade how it supplies its facilities, it found the healthcare marketplace provider Prodigo Solutions, which knows what hospitals of all sizes need because it provides online shopping and other services to more than half of the top 15 hospitals in the U.S.

Today, BJC uses ProdigoMarketplace to requisition a range of medical items that have been negotiated for price and vetted for compliance. To understand how the Marketplace helps, the staff at BJC answered some questions about working with Prodigo.

Coupa to Buy Exari, Boosting CLM in Its Business Spend Management Suite

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Coupa Software is buying Exari to gain its best-of-breed contract lifecycle management (CLM) offering, Coupa announced Tuesday morning. Coupa, a San Francisco-area suite provider of business spend management (BSM), said in a news release that the transaction for Boston-based Exari is expected to close in its second fiscal quarter. In a disclosure to investors, it said the aggregate purchase price for the transaction is about $215 million in cash.

Exari is a top performer in Spend Matters’ CLM rankings on SolutionMap, and it is unique in its knowledge-based approach to deep contract modeling rather than just straight artificial intelligence (AI) and machine learning based on contract text analytics.

ISM 2019 Houston Conference: Highlights and Musings (Part 1)

A small Spend Matters team descended on ISM 2019 conference this year in Houston (next year is in Boston, where I live!) and I wanted to share some thoughts on the event and a few of the great sessions there.

Live ISM 2019 Dispatch: Building a High-Performance Procurement Team Focused on Value Creation

ISM 2019 featured some excellent procurement advancement and transformation case studies, such as “The Challenges of a New CPO” covered in an earlier dispatch. They are tales of aligning people, process and technology to create business value. Since getting the people side right was consistently mentioned as the most crucial — and fickle — element of the triangle, I was delighted to attend the session on building a high-performance procurement team by Dr. Clark Perry, a director at AlixPartners.

Sponsored Article

7 Half-Truths Purchase-to-Pay Providers Are Telling You

I spend a lot of time in product demos, discussing product features and functionality with the analyst community, digging into technology, and harassing our pre-sales team. I’ve gained a wealth of knowledge about purchase-to-pay software – more than you probably want – but what I’ve also learned is that there are some slippery providers out there. They might deliver a slick demo, but there’s quite a bit of information they’re not telling you, and only one party stands to lose in that situation: you. Keep reading for some examples of how our competitors have offered creative storytelling instead of the truth about what their product can and can’t do.

For Procurement Problems in Government Contracting, Try These Outsider Tips

Government contracting is known as a detail-oriented process that relies on plans and procedures, but Public Spend Forum is offering tips to help companies with procurement problems so they can improve the process where they can. And that involves changing your mindset, being flexible and ensuring that you have talented people. The tips come from the agile model for addressing the constant change associated with modern business, and Public Spend Forum, a sister site of ours, explains how these principles can relate to procurement practices.

The Killer Procurement Technology Application: Stupid Simple

Like a lot of my colleagues on the analyst team at Azul Partners, I’m prone to overcomplicate things rather than take the easy way out. Big, hairy, audacious concepts (and technologies) fascinate me far more than what I’ve come to call the “Stupid Simple” ones. But it is this latter group that has far greater appeal in the mass markets and, from a technology purchasing and adoption standpoint, the Stupid Simples tend to be the rocket ships from an initial growth perspective. What do Stupid Simple concepts and companies have in common? I’ve created a running list.

Q1 2019 SolutionMap Source-to-Pay Release Notes

Q1 2019 Spend Matters SolutionMap procurement software company rankings

This Spend Matters SolutionMap Insider release note provides insight into the Q1 2019 SolutionMap release for Source-to-Pay, reviewing the process that we followed for this quarter’s release.

The providers in the Q1 2019 Source-to-Pay SolutionMap include Coupa, Determine, GEP, Ivalua, SAP Ariba, SynerTrade and Zycus. All of these providers were required to participate in SolutionMap for each underlying module, as well. These individual areas include Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, E-Procurement and Invoice-to-Pay. All of these providers are also included in the individual Strategic Procurement Technologies (SPT) and Procure-to-Pay (P2P) suite views.

This SolutionMap Insider research note provides insight into these and additional considerations in the Q1 2019 SolutionMap release. The Source-to-Pay customer data set is composed of a subset of the 600+ individual organization references included in the overall SolutionMap scoring as of Q1 2019*.

*Customers using more than one module that a vendor provides can opt to fill out a single survey within each individual suite area (e.g., a customer using two modules for P2P and four modules for SPT would need to fill out only two surveys).

Govtech in 2019: These 8 Public Sector Start-ups Already Making a Difference

Public Spend Forum (PSF), one of our sister sites, has taken a look at civic tech companies whose solutions “hold great promise for improving the way we live, work and engage within the public sector.” These emerging government technology contractors are featured in this PSF outlook for the year ahead, and the solutions focus on everything from monitoring stormwater to building better municipal websites to giving first responders on-demand, real-time information on how to respond to people with mental illnesses and other conditions. Check out the list of 8.

A 2019 Wish: U.S. Healthcare Supply Chain Leadership Will Learn to ‘Just Say No’

My 2019 wish is directed at healthcare’s supply chain leadership. More than encouraging investments aimed at making their supply chains more dynamic, I would like to see the gloves finally taken off and the bullying behavior of major suppliers called out for what it is. To make that happen, healthcare’s supply chain leadership must think more strategically about their supply rationalization strategies across their most important service lines. If for no reason other than to establish balance in important relationships, the effort is essential. Finally, staff must be remotivated to challenge the established order, so programs that reward them for doing it must be instituted, promoted and monitored for results.