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The Gift that Keeps on Giving — Procurement Education

It’s the holiday season and I’m sure we all feel the same way as we approach the New Year — relieved that the four numbers “2020” will soon no longer show up in our calendar. With the joy that comes with the holidays and the thought of putting this year behind us, I know many…

COVID lessons: 5 ways to protect your manufacturing business from supplier risks

Businesses cannot lose time or money to inefficient processes and supplier risk — especially while other businesses are digitally transforming to prepare for future risks. Communication between suppliers and manufacturers has been key to surviving the coronavirus’ supply chain disruption, and SourceDay, a provider of ERP-to-supplier collaboration technology for direct materials, has shared five insights…

LevaData: Vendor Analysis, 2020 update (Part 1) — Direct Materials Solution Overview, Strengths/Weaknesses, Tech Selection Tips [PRO]

When Spend Matters covered LevaData three years ago, we noted that outside of core ERP and supply chain planning systems, the technology market for direct materials procurement and sourcing was almost too nascent to even be considered fragmented. And, we're sorry to say that not much has changed. The existing players are more mature, but…

GoSupply

GoSupply is a smart, real-time suppliers’ risks monitoring platform. GoSupply empowers organizations to move away from static pre-qualification programs into a platform that prequalifies/homologates suppliers, generates risk-adjusted BI and real-time risk alerts, and integrates risk KPIs into your...

CIPS and Spend Matters launch ‘Spend Friends’ monthly podcast — with a list of Top 10 challenges for 2021

As part of a new partnership, the Chartered Institute of Procurement and Supply (CIPS) and Spend Matters launched a video podcast this week called “Spend Friends” to discuss all things spend management, supply chain, risk and everything else under the procurement umbrella. The podcast is hosted by Bill Michels, the VP of Operations — Americas…

Afternoon Coffee: Fed to keep rates near zero; Beeline and The Mom Project partner up; Switzerland and Vietnam deemed ‘currency manipulators’

In today's headlines, the Federal Reserve wrapped up its policy meetings Wednesday and will keep interest rates near zero. In other headlines, Beeline — the global extended workforce solution provider — partnered with The Mom Project, a digital talent marketplace/community focused on women and diversity. Also, the US Treasury Department labeled Switzerland and Vietnam as…

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Do I need a procurement strategy for next year? Try this 5-step assessment

Many procurement organizations see annual planning as a time to set savings goals and identify sourcing opportunities that will allow them to meet these goals. This is an understandable approach since it paves the way to understanding the coming year’s workload, which can in turn, inform budgets, resource needs and org structure. However, rushing off…

Companies need to adopt spend agility to survive and thrive post-COVID

Spend Matters welcomes this guest post on spend agility from Nikesh Parekh, the CEO of Suplari, a specialist in spend analytics and supplier management. Companies need to adopt spend agility — the ability for enterprises to rapidly assess, predict and change spend, investments and operations strategy in real time. That ability helps you create value…

Afternoon Coffee: US retail sales see biggest drop in seven months; Globality Connects with SAP Ariba; Global trade expected to shrink 9.2%

In today's headlines, US retail sales fell 1.1% in November, the biggest drop in seven months. In other news, Globality Partners, the AI-powered services sourcing solution, announced a partnership with SAP Ariba. Also, world trade is expected to shrink this year, raising questions over if globalization will continue a downward trend. Afternoon Coffee brings you…

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Is the problem that services spend is complex or simply that you have bad spend data?

When it comes to services spend, many organizations find it difficult to manage. CPO Innovation reports that “services spending can range from almost 50 to 80% of what firms buy from outside vendors.” Just like any category of spend, especially indirect, it all goes back to the data. There’s the adage, “if you can't measure…

Coupa and complexity: Acquisitions, tech integration and customer issues [PRO]

As veteran industry analysts in this space, we closely watch procurement technology developments — engaging with solution providers, their customers, implementation consultants and the broader market. Coupa’s aggressive M&A activity over the last couple of years (four this year alone) has shifted the market landscape, but also the Coupa solution landscape for its current customers.…

For 2021, faster responses are coming with Promena Chatbot and Quick Request for Quotation (Q-RFQ)

Promena is an agile sourcing platform that embraces improvements and innovative solutions. In this context, the company continues to provide numerous benefits to its customers in 2021 with more modules and innovations. Today I will only talk about the innovations we bring to our existing modules: Chatbot and Quick Request for Quotation (Q-RFQ).

Future 5 start-up winner Prewave talks risk intelligence and the role of social media

Prewave, a risk intelligence platform, has taken a unique approach to supply chain risk management by monitoring social media, news media and third-party data feeds and was recently named a Future 5 start-up by Spend Matters. We chatted with Prewave’s co-founder and managing director, Harald Nitschinger, to learn more about the solution and to get…

Let the bots battle to their elimination. They won’t help you either! [PRO]

Editor’s note: This Spend Matters PRO post has been unlocked to continue our exploration of how to get the most value out of your procurement technology and to provide a sample of the depth we go into in our PRO material. In our piece titled “Have You Mastered the Procurement Basics yet?” we explained how…

What exactly is a ‘sustainable turkey’?

Thanks to our friend and former colleague Peter Smith for addressing this seasonal burning issue.  Knowing my interest in “procurement with purpose” and the sustainability agenda generally, a friend recently asked me the question "What exactly is a sustainable turkey?" with Thanksgiving and Christmas in mind. Their angle was that a turkey can’t be “sustainable”…