Plus Content

The Contingent Workforce and Services (CW/S) Insider’s Hot List: September 2019 [Plus+]

Welcome to the September 2019 edition of Spend Matters Insider’s Hot List, a monthly look at the contingent workforce and services (CW/S) space that’s available to PLUS and PRO subscribers. For those new to the Hot List, each edition covers the prior month’s important or interesting technology and innovation developments in the CW/S space.

We’ll look at several hot topics: Upwork’s review of disagreements about the size of the freelance economy, changes in worker classification, drone deliveries, a funding round by healthcare jobs marketplace provider Nomad Health, and how freelancers are changing banking and finance.

Dynamic Discounting: Backdrop, Definitions, and Enablers [Plus+]

finance

Editor's note: This is a refresh of our 2014 series on dynamic discounting, which originally ran on Spend Matters PRO.

This Spend Matters Plus brief provides a primer on one of the timeliest topics in receivables and payables finance: dynamic discounting. Note that by receivables financing we mean the selling or other leveraging of “receivables” as an asset on a supplying organization’s balance sheet to receive early payment. By payables financing, we mean the financing of early payment by a third-party (or the buying organizations’ balance sheet).

Even this subset of trade financing is a big and complicated topic, but in this analysis, we’ll discuss how dynamic discounting can reduce risk and create greater liquidity in the supply chain. If you’re in procurement or accounts payable and are new to the topic, this brief will be a useful first step in understanding what dynamic discounting is, how it can help, and which technologies and vendors can enable it.

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

early pay

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 the struggle to wrestle the maximum amount of utility out of P2P programs together, rather than separately. As my colleague Pierre Mitchell has noted, “any land grab is usually about job security built upon the pillar of bureaucracy.” In other words, finance and procurement must really be in the payables thing together.

The 10 reasons for procurement to work with finance departments are:

1. The value of control and oversight of the end-to-end transaction with suppliers
2. Building greater invoice/transaction insight that can bridge the visibility gap in getting line-level detail to supplier invoices without having to request information from suppliers
3. Being able to quantify efficiency driven metrics through a Trojan Horse adoption approach to e-invoicing
4. Reducing supplier risk
5. Capturing savings/leakage through closing the transaction, invoice and payment loop
6. Not getting taken advantage of by vendors that hide the total cost of P2P implementations by masking the amount suppliers are charged
7. Flexibility on supplier engagement/fee assumption in the case of supplier network models
8. New securitization/capitalization opportunities (e.g., securitizing the discount of forward payables through converting the discount classification to revenue)
9. Effectively addressing payables also forces addressing the “payment clock” question as early as possible to capitalize on opportunities.
10. Create powerful “information exhaust” around the optimal means of engaging with suppliers on a total cost basis – beyond just reducing risk. This not only includes capturing additional discount opportunities through payment integration, but also understanding how and when suppliers (and different groups of suppliers) are taking advantage of different payables opportunities.

The Contingent Workforce and Services (CW/S) Insider’s Hot List: August 2019 [Plus+]

Welcome to the August 2019 edition of Spend Matters Insider’s Hot List, a monthly look at the contingent workforce and services (CW/S) space that’s available to our PLUS and PRO subscribers. This edition looks at the new Beeline-Avature partnership; another look at the size and scope of the gig economy; developments in freelancer banks with news from Shine and Revolut; and more ...

6 Factors that Impact the Cost, Hassle and Heartache of E-Procurement and P2P Deployments [Plus+]

p2p deployment

In this research brief, we explore the specific elements that impact the costs and hassles of P2P implementations and ways of controlling them — or at least managing expectations upfront. What’s perhaps most valuable in our findings is that these six elements don’t just show up during the course of a given implementation — they’re often visible upfront if you know where to look. And they can even prove to be leading indicators of trouble to come before you sign a contract with a vendor. In short, if you know what potential roadblocks to look for upfront, you can minimize or avoid unnecessary costs and hassle down the e-procurement road. Here’s how.

What to Expect from a P2P Implementation — Benefits and Costs [Plus+]

P2P implementation

While the benefits of adopting a purchase-to-pay (P2P) solution seem clear on paper, just about everyone who has been around the market on either the procurement, consultant or vendor side has heard horror stories of implementations gone wrong — or horribly wrong, in certain cases. Of course the culprit is usually staring the organization in the mirror. But more importantly, this line between success and failure, as measured by hard dollars, led us to ask a two-part question: What really is the price and when is it worth paying that price to implement a P2P solution?

The Contingent Workforce and Services (CW/S) Insider’s Hot List: July 2019 [Plus+]

Hot List brings you a summer reading list that includes updates on Spend Matters' SolutionMap rankings of companies in the Contingent Workforce/Services space, insight into Japan's freelancer market by exploring an SAP Fieldglass deal, and a recap of Fiverr's IPO ups-and downs, as well as a raft of other suggested reading.

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 “straight-through processing” (i.e., no human intervention from the PO creation through to supplier payment) than a traditional RosettaNet implementation. The platform provides an innovative and automated pre-validation service that uses a self-service “training” capability, allowing the trading partners themselves to establish the business validation rules and other key system behavior that ensures smooth downstream processing. Read on for discussion of local requirements and a list of key takeaways.

The Contingent Workforce and Services (CW/S) Insider’s Hot List: June 2019 [Plus+]

Welcome to the June 2019 edition of Spend Matters Insider’s Hot List, a monthly look at the contingent workforce and services (CW/S) space that’s available to PLUS and PRO subscribers. For those new to the Hot List, each edition covers the prior month’s important or interesting technology and innovation developments in the CW/S space. Uber, Deliveroo, Doordash and Fiverr are among the companies making news.

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 on XML (Extensible Markup Language) originally founded in the late ‘90s, was originally spearheaded by a number of large corporations in the high-tech manufacturing sector. Like EDI, RosettaNet has historically only made sense for larger direct material (e.g., manufactured parts, components, or materials) suppliers or customers. Yet, RosettaNet’s implementations, like those in traditional EDI deployments, have focused primarily on connecting large buyers and/or suppliers for purchase orders, invoices, advanced ship notifications, and other typical high-volume commercial documents. Intel suggests on its own website that the typical criteria for suppliers is that the vendor “should have an interest and the resources necessary to automate their business processes."

The Contingent Workforce and Services (CW/S) Insider’s Hot List: May 2019 [Plus+]

Welcome to the May 2019 edition of Spend Matters Insider’s Hot List, a monthly look at the contingent workforce and services (CW/S) space that’s available to PLUS and PRO subscribers. For those new to the Hot List, each edition covers the prior month’s important or interesting technology and innovation developments in the CW/S space. The latest edition looks at Uber's IPO, Shiftgig news, Moonlighting's blockchain news, Visa's move into fintech for fast payments, and Ernst & Young acquiring a UK-based alternative legal services provider (ALSP).

E-Invoicing: How To Diagnose if Your Deployment and Solution is World-Class [Plus+]

e-invoicing

As our journey to world-class e-invoicing continues in this multi-part Spend Matters Plus research brief, we discuss five additional elements to diagnose the overall scope, capability and coverage of your e-invoicing deployment — and whether or not your solution provider(s) can enable you to get to world-class levels of performance. If you want to catch up on this series, we encourage you to learn about all the components of the first five elements (invoice capture, collaboration/workflow, matching, compliance/validations and mobile enablement) and a broader introduction to the topic in first installment of this series. Finally, we invite Spend Matters practitioner and consulting advisory clients to reach out to us to discuss their existing and planned deployments. E-invoicing is far more complex a solution area to analyze than e-procurement, in large part because solution capabilities and organizational requirements show so much variation compared with each other.