The sponsor named below commissioned Ardent Partners to write this report. While the report topic In 2015, collaboration is the name of the game in procurement and frequently entails working with key internal stakeholders (like line-of-business managers and legal departments) or preferred suppliers to drive greater value through sourcing and procurement. For Chief Procurement Officers ("CPOs") and other supply management leaders, collaboration has taken on many new and innovative forms over the years, causing these executives to leverage new (and, in some cases, existing) processes, relationships, and technologies to enhance compliance, decrease risk, and increase savings. One such business process, contract management, has been reborn with digital, automated features that can shift the way procurement teams collaborate, mitigate risk, drive performance, and realize greater savings for the enterprise.
We came to the above conclusion because even though suites solved many of the problems of independent, standalone modules to support integrated procurement processes in terms of data management nightmares, process inefficiency and visibility gaps that were common with first generation "best-of-breed" solutions, many mature organizations are increasingly finding that suites are not enough if they do not connect into larger enterprise processes and support the stakeholder organizations that procurement needs to work with. Are you with us? If you are, then you know that something else is needed: a source-to-pay (S2P) procurement
"Today’s procurement leaders are using technology to achieve greater procedural and financial efficiencies, secure the best products and services, and improve vendor relationships. However with the lack of technology to boost efficiency and strengthen the partnership with vendors and employees, saving costs and speeding up procurement processes can be quite cumbersome.
Industry experts predict that successful businesses will soon become 100% digital for all transactions. The challenge is how to “go digital” in the right ways. Download this best practices paper to learn the eight important ways that procurement teams can make meaningful progress in their digital transformations. "
In This Paper
• Smarter spend management is lacking in most organizations, largely due to the tools being used to manage their procurement processes
• Oracle Procurement Cloud combines cloud, best-of-breed functionality, and native connectivity
• Deploying Oracle Procurement Cloud can resolve pain points with transactional and strategic procurement
As cost and productivity expectations persist, many functions are rethinking the way their work gets done to remain both efficient and innovative. But not all business partners may welcome these kinds of transformations. To stay progressive, the best companies enable employees to exercise greater influence over internal clients and alter the entrenched views their function.
Since 2001, PayStream has assisted organizations’ accounting, finance,
and procurement departments to streamline processes, increase
efficiency, and generate growth. The purpose of the majority of these
projects is to assist with the initial RFP for, review of, and final selection
of software solutions. The Navigator began as a straightforward
spreadsheet model used to score solutions on pricing structures,
functional offerings, and how they addressed any unique needs specific
to an organization. Over the course of numerous engagements, it
became clear that there was a sincere market need for a quantifying
tool, and the Navigator became much more.
Published By: OracleSMB
Published Date: Jan 04, 2018
You may think that your finance group is performing well, but it is critical to always look for ways to improve. Continuous improvement equates to competitive advantage, no matter the department.
Seek out ways to improve the handling of payables and receivables, streamline the procurement process, expedite the financial close process, and effectively analyze all your data.
If you are not sure where to start, read this ebook to learn the four questions you should ask to improve your finance and reporting capabilities and ensure continued growth.
Watch this two-minute video to reveal three key strategies that many companies, including 15 of the 20 most profitable Fortune 100 companies, are employing to realize even more savings from their procurement process.
"Global enterprises continue to look to their Procurement organisations to drive cost savings, improve service and speed up execution. As a Procurement professional, you know that moving away from paper-based processes is critical to maximising efficiency and workflow.
To achieve this, you’re probably trying to shed the hallmark and last bastion of the traditional paper-based Procurement process: the ink signature. In this eBook, you'll learn how DocuSign is making it easy for Procurement teams to go mobile, manage business relationships, and execute approval cycles faster."
Procurement’s Pesky Paper Problem
We know time is precious, so we’ll get right to the point: Paper-based processes are tarnishing your procurement department’s reputation for driving cost savings, improving service, and expediting execution. First, there’s the printing, scanning, faxing, and mailing of documents. Then comes the constant tracking down of physical signatures for everything from statements of work to supplier contracts. Add in the manual filing, searching, and retrieving of hard copies, and it’s no wonder that inefficiency abounds.
"Would you like to demonstrate how you can better leverage eSignatures within your company? Hear from real-world deployment experiences from our customers across HR, Legal, Procurement, Sales, IT and Facilities.
Transformation Manager Paul Smith will discuss how DocuSign fits into the five-year transformation plan at LV=. With eSignatures, the insurer processes claims 5x faster while realising annualised business benefits of £27.5k.
Read this whitepaper to learn how to:
- Build and execute a business plan – so you choose the use cases that are right for your business
- Identify your highest priority use cases – so you can quickly deliver the greatest ROI and align with your business goals
- Measure your results – so you can prove the value to your business"
Oracle Procurement & Spend Analytics increases visibility into the complete procure-to-pay process, including comprehensive spend and procurement analysis, supplier performance and payables analysis, and employee expense analysis. Find out more now.
Modern eProcurement solutions promise greater efficiency through improved AP integration, tighter controls, standardized processes, and supplier connectivity. This Paystream Advisors survey report focuses on current attitudes toward eProcurement solutions, how they're being used, and why (and how) that usage is changing. The report also includes an overview of eProcurement capabilities, best practices, and selection criteria.
Published By: CFO.com
Published Date: Sep 21, 2011
CFO magazine explored trends in the procurement of technology, financial services and other services by U.S. corporations. The study, "The Senior Finance Team and Corporate Purchasing Decisions: Product and Service Investment Plans, Vendor Selection Process, and the Impact of Media on the Decision Making Process" identifies the extent and types of purchases that companies will make, the role of the finance team in corporate purchasing decisions, the criteria used for vendor selection, and the trends and influence of various types of media on vendor choices.
SAP Supplier Management Software (SAP SRM) rapid-deployment solution delivers fast results to optimize operational procurement. Reduce costs with essential SAP software that is preconfigured to support your core procurement processes and implemented at a fixed price by SAP Consulting.
Traditional procurement fraud detection methods – manual searches; spreadsheets; and simple slice, dice, filtering and reporting from silo systems – are not keeping pace. Whatever tools and processes are in place now, there’s always the opportunity to evolve to a higher level for more accurate detection – more high-value alerts and fewer
IBM’s new PowerLinux servers appeal to Linux buyers? Linux buyers are driven by the price advantages that Linux offers as compared with other operating environments (Linux is free open source code) Windows and Unix are chargeable licensed code). Linux buyers, therefore, look first and foremost at the total cost of acquisition of Linux based servers. Linux buyers also want rapid time to value (fast deployment); they often use decentralized procurement processes; they want their Linux servers to be simple to use and manage."
Keeping up with ever changing contract management work is challenging. Governing legal and procurement content is written by thousands of people and applied to hundreds of situations. To stay compliant, organizations employ knowledgeable professionals to analyze every sentence to determine the changes that need to be made to company contracts. The manual process of sifting through these dense, complicated documents is inefficient and prone to error.
Watson Compare and Comply is trained on contract specific knowledge and classifications and can streamline contract workflows through semantic understanding.
Join Director of Watson Offering Management, Adam Orentrichler, and Chief Data Scientist of SAP Ariba, David Herman, as they discuss how Watson can transform the way your company manages contract governance.
In today's highly-competitive markets, more and more procurement and sourcing professionals are looking to streamline processes and drive superior performance. In the quest for higher savings, more spend under management and increased compliance, sourcing executives must turn to their own repository of spend data to effectively identify opportunities for savings and gain a deeper understanding of their corporate spend.
Published By: DocuSign
Published Date: Aug 09, 2016
Global enterprises continue to look to their Procurement organizations to drive cost savings, improve service and speed up execution. As a Procurement professional, you know that moving away from paper-based processes is critical to maximizing efficiency and workflow.
Published By: DocuSign
Published Date: Aug 17, 2016
Procurement teams are moving away from traditional paper-based processes and adopting new technologies to save time, resources and money. Download this complimentary whitepaper to learn how DocuSign is making it easier for Procurement teams to go mobile, manage business relationships, and execute approval cycles faster.