In Case You Missed It … Procurement and Supply Market Roundup

We can't comment on every press release that hits our desks, but here are a few market news stories this week that we thought we should bring to your attention, and some of our own you may have missed.

UK Deutsche Bank contractors plan to leave rather than take 25% pay cut for IR35

IR35 tax reforms will go ahead on 6 April 2020 despite severe criticism from contract workers. HMRC has said it will be commissioning an external review into the reforms six months after implementation, which will include how status assessments are being made. HM Treasury has just published its report and conclusions on IR35 reforms in ‘Review of changes to the off-payroll working rules,’ downloadable here. Deutsche Bank is one of the big banks that will lose its contractors, who use limited companies, to avoid non-compliance with IR35, as it forces them to take 25% pay cuts in line with the reforms. “A recent report said that more than half of contractors and consultants working for private companies plan to leave their clients (by the end of March) rather than face up to the new regulations,” says The Register. Read that here.

Still time to register for eWorld

There's still time to register for eWorld Procurement and Supply on Tuesday 3rd March. We spoke briefly with the keynote presenter, Cate Warman-Powell, Head of Procurement Consumer Technology & Supply Chain at BT about her session on ‘Transforming Procurement at BT,’ and asked her a few questions about what insight she will be imparting - read that here, the full agenda is here and you can register here for this free-to-attend event.

Essential Trends and Impacts Presentation for Procurement Executives – a GEP event

Then directly following eWorld at 5pm GEP will be hosting a drinks and hors d’oeuvres reception for senior procurement executives. Senior director of consulting, Prashant Ram, will present the firm’s analysis of emerging best practices drawing from GEP’s annual Outlook report. There will be an opportunity to ask questions and get involved in discussions and network with your peers at this informal gathering. Contact Frediana.Bia@gep.com

The Power of Contracting to Accelerate Procurement and Mitigate Global Risk

Also on March 3 we are running a webinar with Contract Lifecycle Management specialists Icertis. Our GM for Europe, Jenny Draper, will join Richard Beaumont (PeerPair) and Vivek Bharti (Icertis) to talk about concurrent contracting and how is it affecting procurement organisations, how CLM tech is delivering cost savings and accelerating procurement cycle processes  and how sourcing organisations can minimise procurement risks. register here.

And in other news …

DocuSign to buy Seal Software for $188 million

How SolutionMap compares to Gartner, Forrester, IDC in rating procurement technology

eBay to begin managing payments in the UK

Online freelancer marketplace and managed solutions platform Upwork releases FY 2019 results

Consultancy Bain & Co. has taken a minority investment in EcoVadis

Student Loans Company commences strategic partner procurement

EU Agency for Cybersecurity (ENISA) publishes cybersecurity procurement guide for hospitals

Vroozi Expands Procure-To-Pay Offering Into UK

PepsiCo strengthens palm oil sourcing policy for third-party suppliers

Late payments impact SMEs as study reveals 63% of small businesses are ‘self-taught’ about invoicing

Agiloft Announces AI Engine for Advanced Contract Automation

 

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