Process and Best Practice Content

SAP exec shares tips on digital transformation, coronavirus disruption and implementing change at the SIG Summit

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During an online SIG Global Executive Summit keynote address last Wednesday, an SAP executive and a business consultant who specializes in technology, sourcing and supply chains gave a one-two punch on how procurement leaders can help their companies approach digital transformation.

SIG Summit tackles digital transformation, procurement tips for start-ups in its last day

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The Sourcing Industry Group held its third and final day of its 59th SIG Global Executive Summit on Thursday, where professionals came together to network and learn about trends happening in procurement.

In this post, we'll focus on one session about digital transformation and one on procurement tips for start-up companies.

SIG Summit discusses sustainability and storytelling in procurement

The Sourcing Industry Group continued with its 59th Global Executive Summit on Wednesday with discussions about how procurement professionals can help their organizations by using the latest ideas and technology.

Topics discussed in the Summit’s second day included procurement transformation, ROI, adventures of procurement in the year 2020, and automating taxes.

But we’re going to focus on two of the day’s topics that may not come to mind when thinking about procurement: sustainability and storytelling.

Proactis’ flagship event ReThink ’20 will focus on agility in Procurement and Finance

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The landscapes of the Procurement and Finance functions have changed quite substantially over the past year, and even more so over the past six months as they have faced the turbulence of supply disruption, employee retention, and of course spend management challenges. The functions are facing a new way of working and have been forced to adapt to new pressures as they have become more and more relied upon to deliver business continuity.

ReThink ‘20 — the annual flagship event from spend management specialist Proactis — has been designed specifically to help Procurement, Finance and IT senior professionals rethink their course to reach the maximum value they can for their organizations.

Over the course of three days from Nov. 10 to 12, ReThink ‘20 will bring together spend management professionals in a virtual event to share knowledge, best practice, their achievements, shortfalls and learnings in honest and open discussions to really help the professions align.

Payments as a service — the organization’s vehicle for growth

With at least six months of business and supply chain disruption behind us, many firms are wondering where they will be in the next six months. The answer to that question rests partly on the efficiency of our payments infrastructure.

To help business continuity, we must be able to trust our payment systems to remain robust and work efficiently in real time so that buying firms, their suppliers and their customers can continue to transfer funds in return for goods and services, regardless of economic tremors in the market. While supply chains will recover from the crisis at different times, depending on geography, our payments systems must be constant if they are to help business through a time of disruption. So businesses and the P2P solutions they rely on should consider putting the payments element at the core of their strategic agenda.

SIG Summit opens with talk of CPOs, shareholder value, spend analytics

The Sourcing Industry Group (SIG) kicked off its 59th Global Executive Summit on Tuesday with conversations covering procurement, finance, sourcing, cost savings, artificial intelligence, category management, workforce, data analytics and more. The Summit continues on Wednesday and Thursday.

New Agiloft CEO talks about scaling up its CLM platform that ‘can live and grow’ as a business transforms

Following the announcement that specialist contract lifecycle management (CLM) provider Agiloft, had secured a $45 million growth equity investment from FTV Capital, Spend Matters spoke with its new CEO, Eric Laughlin, about his vision for the firm in the coming 12 months.

He also foresees a future for contracting that reaches into the realms of wider business-process improvement for every node in an organization that contracting touches.

“Contracts are no longer considered documents,” Laughlin said in a Q&A. “They are data, and that data is the construction manual for the entire business.”

Procurement with purpose must encompass social justice

Spend Matters welcomes this guest post from Paul Polizzotto, the Founder & CEO of Givewith, providing insights into social justice and procurement. 

Not only do we find ourselves in the middle of a global pandemic — which has rattled supply chains and exposed cracks in a system that has been optimized for decades — but major cities across the globe, from Minneapolis and Atlanta, to London and Berlin have witnessed mass protests addressing inequality and injustice.

These tragic events have brought companies and procurement to a somber moment of reckoning.

‘Bad Buying’ hits the bookshelves for procurement leaders looking to avoid deals deemed failures, frauds — and worse

We are delighted to welcome this post from our friend and former colleague Peter Smith on the launch day of his new book. When I […]

The Hackett Group outlines how to build resilient supply chains in the wake of coronavirus

Global Risk Management Solutions

As the COVID-19 pandemic continues to generate uncertainty around both supply and demand in economies across the globe, supply chain resilience has never been more important. When planning for the medium and long term, businesses in every industry must be proactive in their response to market imbalances that accompany the pandemic recovery to remain competitive.

COVID-19 and the technology shift for small businesses: ‘How do you take advantage of the opportunity as it exists now?’

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COVID-19 has disrupted businesses, and adopting procurement technology can be key to mitigating problems. But, for smaller businesses, it can be harder to have the same expertise and experience working with technology to move their business online. Entrepreneur Nell Merlino revamped her Count Me In organization to help woman-owned businesses learn new resources to grow business in the technological and COVID-19 age.

ISS makes Spend Flexibility synonymous with Business Agility using Amazon Business

Amazon Business

ISS, a leading global workplace experience and facility management company, provides organizations with every facility solution they might require to support their own core activities. The key to being able to give its customers this total facilities management (TFM) service is ‘agility.’

The ability to respond quickly to customer demand, no matter how small, is something that can really differentiate a service provider in today’s market, and those that want to be a customer of choice must be able to do that. For the Procurement team, that requires sourcing excellence in all that they purchase.

The scale of the purchases involved for a multi-faceted FM outsourcing organization is huge. When a firm has a 100-year reputation of providing a quality service to maintain, and a breadth of services to offer grown out of strategic acquisitions, then standardization and compliance are paramount. One of the areas that historically generates many challenges for Procurement is that of tail spend. Ad hoc spending can go undetected, uncontrolled and become maverick. If a Procurement function wants complete vizibility, then it must also control the tail. Here's how ISS achieved this.