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Unlocking Deeper Value in the Procurement and Finance Relationship (Part 3): The Top 10 Impact Areas for Procurement’s Involvement in FP&A [Plus+]

In the second installment of this series, we discussed procurement’s role in helping finance professionals and budget owners use spend data to improve the FP&A process and general business planning. Now in Part 3, we get specific about how to tackle this beast with some specific recommendations that we’ve seen proven out at both advanced…

Unlocking Deeper Value in the Procurement and Finance Relationship (Part 2): Spend Planning and Analysis [Plus+]

In the first installment of this series, we discussed ways to align procurement with the finance function, starting with financial accounting and then moving into cost accounting. Although cost accounting has one foot in the financial accounting world in terms of tracking costs and having them flow to the general ledger (GL), the more important…

Unlocking Deeper Value in the Procurement and Finance Relationship (Part 1) [Plus+]

Much has been written about the need for procurement and finance organizations to better align with each other, in particular how the two functions can best integrate purchasing and payables into an end-to-end purchase-to-pay (P2P) process. The opportunity for aligning these two functions, however, is much greater than simply improving transaction efficiency. Unfortunately, the various…

Procurement Metrics: Understanding the Economic Language of Value (Part 2) — Expenditures, Expenses and Financial Reporting (CapEx, COGS and G&A) [Plus+]

In the first installment of this series, we discussed the term “spend” (the noun, not verb), in the context of supplier spending, in a fair amount of detail. We discussed addressable spend, and what's included and excluded for the purposes of spend visibility/management, but also for the purposes of using spend within procurement performance measurement…

Procurement Metrics: Understanding the Economic Language of Value (Part 1) — Spend [Plus+]

One of the challenges that procurement faces is "speaking the same language" as finance, as well as the language of its stakeholders. A marketing department, for example, may use the term “investment” for its spending. Similarly, many procurement organizations categorize some of their added value in a category called “cost avoidance,” even though the term…

Ask the Expert: How to Achieve Value Creation in Procurement (Beyond Just Cost Savings) [Plus+]

Sourcing and procurement professionals are used to bringing "value" by exploring the most cost effective solutions (and there's nothing wrong with that - it's what the majority of the c-suite pushes toward). Nowadays "value creation" is the magic word, and has everything to do with bringing innovation into your company. It also happens to be…

A Procurement Transformation Cookbook: Part 1 – Creating the Value Menu [Plus+]

The intent of this series is to provide a cookbook of sorts around some basic counsel on procurement transformation. It is by no means a replacement for the high-impact and high-IP value that many procurement services bring as accelerants to a procurement transformation. We'll frame the piece as a series of questions. There’s even a…

Procurement Technology, Consulting Pricing Trends and Negotiation Strategies – The Times They Are a-Changin’ (Part 1) [Plus+]

Editor's note: This is a refresh of our 2012 series on solution provider pricing trends and negotiation strategies, which originally ran on Spend Matters PRO. This 4-part series will provide a look at software provider and management consulting pricing trends and negotiation strategies within the procurement and operations area. It provides insight to buying organizations…

20 Questions for E-invoicing and Procurement Network and Platform Selection (Part 2) [Plus+]

Editor's note: This Spend Matters Plus brief is a refresh of our 2013 series on supplier network selection, which originally ran on Spend Matters PRO. In the first installment of this series, OB10/Tungsten, Ariba/SAP, and GXS: 20 Questions On Supplier Network Selection, we gave some context around the right organizational questions that procurement, accounts payable…

10 Reasons for Procurement to Work With Payments (Part 3) [Plus+]

Closing the payment gap – not just the invoicing gap – remains a Holy Grail for procurement organizations looking for greater oversight and control in transactional purchasing and even supplier relationship management. It’s also a means to bring finance and procurement organizations closer together – and to prove that finance is really procurement’s ally in…

Procurement Information Architecture and B2B Connectivity: Intel takes RosettaNet into the Future (Part 2) [Plus+]

Editor's note: This is a refresh of our 2014 series on RosettaNet and B2B connectivity, which originally ran on Spend Matters PRO. Read Part 1 here.  One of the more curious aspects of the Intel Israel Nipendo implementation (tied into Intel’s RosettaNet standard deployment) for supplier connectivity is that the system realizes a greater percentage of…

Procurement Information Architecture and B2B Connectivity: Intel takes RosettaNet into the Future (Part 1) [Plus+]

Editor's note: This is a refresh of our 2014 series on RosettaNet and B2B connectivity, which originally ran on Spend Matters PRO. Intel is one of the oldest advocates (and active users, in terms of volume) of RosettaNet as a replacement for traditional EDI connectivity. RosettaNet, a set of process and information connectivity standards based…

Turbocharging E-invoicing Through the Supplier Network Value Proposition [Plus+]

As we discussed in the first part of this e-invoicing research brief, there are many more goals of automating the invoicing (and invoice receiving) process than simply driving process efficiency. Indeed, advanced e-invoicing deployments now go far beyond the plumbing required to automate the issuance, workflow and approval of an invoice in a streamlined manner…

How E-Invoicing Extended Procurement’s Influence with Accounts Payable [Plus+]

Editor's note: This is a refresh of our 2016 series on e-invoicing's influence on procurement-accounts payable relationships, which originally ran on Spend Matters PRO. In this Spend Matters Plus research brief, we examine how procurement, through the use of technology, has extended its range of influence from its own processes to accounts payables and made…

Supply Risk Management in Mexico: Tips and Analysis For Multinational Procurement Organizations [Plus+]

Editor's note: This is a refresh of our 2015 briefing on supply risk management, which originally ran on Spend Matters PRO. Supply risk management continues to be an important topic of not just debate but practice, too, within global procurement organizations. And on a more frequent basis, supply risk management efforts are extending “south of…