viewpoint Content

Sponsored Article

Supply chain health check: 10 things you should be doing in the COVID-19 era

As companies emerge from the coronavirus storm, it will be more important than ever to test the resilience of their supply chains in the current environment — and strengthen them in preparation for any future crises. From stress-testing the financial health of the supply chain to becoming more agile when onboarding new suppliers, companies should consider the following 10 actions:

Sponsored Article

Getting from ‘Adapting’ to ‘Learning’

“Adapting.” It’s a single word that describes how many of us are carrying on personally and professionally amid the COVID-19 disruption. SIG is no different.

We held our inaugural Procurement Technology Summit in May as a completely virtual event. It was new territory for SIG, but we were committed to making the attendee experience every ounce as valuable as a face-to-face event.

“Learning.” It’s what every single one of us needs to focus on now as individuals and at the organizational level.

As the business world adapts and learns how to navigate COVID-19, it will become more vital than ever for companies to encourage their people to upskill. Whether you scrapped your 2020 strategic plan and are starting afresh or are pivoting your nimble team toward a new direction, workforce education will be key.

Sponsored Article

Driving supply chain risk strategy during coronavirus recovery

In parts of the world, the coronavirus pandemic appears to be waning. Yet the global economy is now stuck in the mud. Will this standstill turn into quicksand for your company?

As production ramps up again, procurement, purchasing and supply chain managers are no doubt weighed down with a heavy workload already — but you’ll also need to devote time to securing your supply chain in the future. Here is a five-point guide to drive your supply chain risk management strategy during coronavirus recovery.

Sponsored Article

5 questions on finding your ‘best fit’ digital procurement technology, featuring analyst Magnus Bergfors

Spend Matters note: Because of the coronavirus outbreak, Basware’s conference in Europe was canceled and Spend Matters’ Magnus Bergfors was not able to speak there. So this interview is being shared here.

Basware sat down with Magnus Bergfors, VP of European Research and Lead Analyst at Spend Matters, to hear his take on the selection, adoption and integration of digital procurement solutions. Read more to learn how your organization can best determine the need for procurement technology, how to select the right technology vendor and how to choose between end-to-end and specialist digital procurement solutions.

Sponsored Article

Realign, Reimagine, Reconnect: How COVID-19 is Making Us Re-evaluate

While our lives and the way we work have been upended in recent weeks by the COVID-19 outbreak, many of us feel like we’re finally somewhat settling into this new, uncertain normal.

There is no finish line on the horizon for when the coronavirus will be brought under control. However, it is crucial to remain focused on the future by investing in our own knowledge, industry dialogue and professional networks now.

If you’re like me, you have been disappointed to see many of your favorite spring events and conferences canceled or postponed. That’s why at a time when we need solutions and to remain connected more than ever, SIG is excited to bring you our fully online Procurement Technology Summit, from May 11 to 15.

Sponsored Article

Simfoni offers free mapping of your COVID-19 supply risks: Read its methodology for addressing coronavirus problems

Dear Readers,

In recent days, Simfoni has developed a COVID-19 risk assessment dashboard to help its customers assess potential business impact arising from supply chain disruption. Given the acuteness of this situation, we have decided to provide this dashboard on a complimentary basis in the interest of supporting businesses, jobs and maybe even lives.

In this article, I describe the methodology applied in our COVID-19 Risk Assessment so that readers can recreate the analysis and apply it to their own situations. Our assessment follows three stages: Identification, Supply Market Risk Analysis and Mitigation.

Sponsored Article

Coronavirus and Supply Risk Management: Tips for being prepared

Global Risk Management Solutions

Are you prepared for future supply risk? Do you have a structured supply risk management approach? Given the current coronavirus headlines, you should. And here’s how to start.

Coronavirus is the quintessential example of a supply chain disruption, and its impact has been rapid and global. Given all the news about it and its effects, we have pulled together some of our best information about managing supply risk.

Sponsored Article

Emerging trends in global contingent worker sourcing and how to ensure compliant workforce classifications

Companies globally have substantially accelerated the use of contingent contract workers as part of their business expansion plans or as an alternative or supplement to their full-time internal workforces. Many economists are referring to this trend as the “Fourth Industrial Revolution” — with some projecting that 30% to 50% of the average corporate workforce will be classified as “contingent or flexible” (independent contractor, corp. to corp, freelancer, temporary or robotics) by 2025.

The risk of worker misclassification can have serious tax and business operations consequences on the company and contractor. This can lead to business interruptions and risk the right to conduct business in a country or economic treaty zone. CXC — the leading global contractor management company for the past 28 years providing compliant solutions to corporations, contingent workforce providers and recruitment firms — has automated and digitized our proprietary contractor vetting and validation process in the 60-plus countries where we operate.

Find out more in this post and in an upcoming webinar.

Sponsored Article

The Future of Visible Commerce & the Role of Business Transparency

How are businesses responding to demands for transactional transparency from customers and wider society? Company leaders need a more holistic approach, which means knowing what sits underneath all their transactions. At Basware, we see such Visible Commerce as a way to simplify operations, spend smarter and do more.​

We partnered with Harvard Business Review Analytic Services (HBRAS) to take the pulse of business leaders and to understand how automation is empowering strategic decision making at their firms. I am pleased to share the findings of how these elite company executives are using transparency to mitigate risk, create business value and hone their competitive edge. ​

The report, “Using Transparency to Enhance Reputation and Reduce Business Risk,” explores the full value that such transparency delivers. It provides a lens over the advantages of automating finance and procurement processes. It finds that those working toward the total visibility of the flow of money, goods and services are able to make more effective strategic decisions and that this transparency is a defining characteristic of winning businesses worldwide. Those that have invested in improving visibility across finance and procurement benefit from greater employee engagement, improved reputation and revenue growth.

Sponsored Article

Want to feel more impactful at work? Give automation a try

I personally feel automation is the most important tool that will continuously improve our work lives in the next couple of years. In its simplest form, it eliminates the need to do tedious, monotonous work — while in its most elegant form, automation reduces the need for human touch points until well into a process, at a point where human interaction is a benefit, not a necessity. As people look to automation, it is important to differentiate between basic automation and automation that needs intelligence built into it for the future. So, when I say “building in intelligence,” I’m speaking to the need to transform your operations through automation and the need to introduce disciplined approaches to automation program structures in order to identify and prioritize those scenarios that can be automated.

Sponsored Article

Leverage the Rule of 3 for Improving AP Automation Accuracy

e-invoicing

We’ve all heard about the benefits of accounts payable automation: going paperless, saving time and saving money.

If you and your team want to truly maximize these benefits, there are important considerations to make  when looking for an AP automation solution. Above all, you must make sure the solution you select offers true automation so less human intervention is necessary. Sticking to the basics often gets overlooked in pursuit of the most cutting-edge capabilities.

In this regard, here are three things you should consider to ensure you’re getting true AP automation:

Sponsored Article

Procurement Leaders: Hit the Refresh Button in 2020 at SIG’s Procurement Technology Summit 

Updated April 20: SIG has provided the latest information about its summit, which is now online only to accommodate coronavirus concerns.

SIG is committed to staying at the forefront of all the forces impacting our industry. With a global pandemic forcing many to work from home, we have moved the SIG Procurement Technology Summit from an in-person event to a fully online event taking place May 11 to 15, 2020. You can join us for just a few hours each day right from your home office.