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Procurement KPIs: The ‘Keys’ that Unlock the Value of Spend and Supply Management (Part 3) [PRO]

In the first two parts of this KPI series, we highlighted some of the foundational measurements for procurement pros and the problems of traditional procurement key performance indicators in terms of how they can be incomplete, misleading and even damaging to a value chain transformation. In fact, one of the easiest ways to assess an…

Transforming from Contract Management to Commercial Value Management (Part 1): Setting the Table for Digital Transformation (especially for procurement) [PRO]

Are you looking to find that perfect business area for digital transformation this holiday season? Well, look no further than contract management. We know what you’re thinking: Improve the efficiency of processing legal documents? That doesn’t sound very festive, or even high impact! However, contract lifecycle management (CLM) itself is being transformed toward a more…

Jaggaer Deal: 5 Enterprise Value Creation Takeaways Learned From Shaping a Procurement Workhorse (Not Just a Unicorn) [PRO]

Last week, Jaggaer announced that Cinven, a European-based private equity firm, had acquired a majority stake in the provider. Various sources, including Bloomberg, place the enterprise value of the transaction, including debt, at $1.5 billion. But as in all private company valuations, it is important to exercise caution in reported numbers and even more so…

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…

Coupa, BELLIN and Treasury Management Systems: What CPOs and CFOs need to know about TMS and links to procurement technology (S2P, P2P, AP) [PRO]

Earlier today, Coupa announced its acquisition of BELLIN, a treasury management system (TMS) provider. We covered the announcement on Spend Matters. And on Spend Matters Nexus, a subscription service that focuses on sector M&A, we provided background insight into BELLIN, treasury (as a function) and the value proposition for procurement and AP in bringing procurement…

CORONAVIRUS RESPONSE: Dear Procurement, AI won’t save you, but rules-based automation might! [PRO]

This Spend Matters analyst brief has been posted outside the PRO subscription paywall to share information that could help businesses take on the coronavirus disruption. Given the coronavirus-related chaos going on now, you'd think now more than ever you'd want a solution that could just take some categories off your plate and source/procure them for…

Updated! CORONAVIRUS RESPONSE: Advanced Procurement Analytics — find the risks hiding in your data, prioritize and take action [PRO]

Updated: Three sections of information were added on analytics solutions that provide help with indirect procurement analysis — as well as information on the challenges that the vendors can address. Read the italicized passages and the new sections to learn more about Rosslyn Analytics, SpendHQ and Simfoni. In our response to the coronavirus outbreak, this…

Updated — CORONAVIRUS RESPONSE: Consider These Procurement Technology Solutions to Get You Through the COVID-19 Pandemic (Introduction) [PRO]

UPDATED Sunday, March 22: Spend Matters analysts have updated this PRO Coronavirus Response piece to include two additional categories and related providers, in addition to our five original categories. All of our recommended vendors are now listed in each category. Last week, this post was unlocked from behind the paywall so all Spend Matters readers…

Transforming from Contract Management to Commercial Value Management (Part 2): Putting Contracts at the Core of Source-to-Pay [PRO]

In the first installment of this series, we discussed how contract management was morphing from a document-centric risk transfer legal vehicle to a broader commercial value management (CVM) competency that helps businesses: * Perform spend planning rather than spent analysis * Gain earlier and deeper visibility into financial obligations rather than just using the general…