“Gagetry will continue to relieve mankind of tedious jobs.”
Isaac Asimov’s predictive essay, “Visit to the World’s Fair of 2014,” was based on the 1964 World’s Fair in Queens, New York, and looked ahead fifty years to 2014. He addressed transportation, the environment, engineering, and – of course - technology. Like many of his contemporaries, he expected that advancements in technology would make our lives easier. If the tactical, or ‘tedious’ work could be automated or handled through artificial intelligence, people would be free to move on to more value-oriented, interpretive work.
His assumption is well applied to the spend management solutions of today. We have not yet been liberated from tedium by our solutions. In many cases, we are slaves to data cleansing and report creation. In the end, our solutions serve as no more than accessible, segmented, storage. In a recent survey of UK-based CPOs, Rosslyn Analytics found “that business leaders spend six working days per month collecting and preparing data for analysis and reporting.”2 If there are an average 22 working days in any given month, leaders are spending roughly a quarter of their time working with data – not drawing conclusions, but preparing it for analysis.
When you look for the story behind the formation of an organization, it is natural to think that you will find a linear narrative. In the case of riskmethods, what we found instead was an intersection - of professional experience, unmet demand, and external market forces.
Rolf Zimmer and Heiko Schwarz met in 2011 when Xcitec, a supplier lifecycle management solution provider, was acquired by Emptoris, a strategic sourcing solution provider. Little did they know that Emptoris would be acquired by IBM only months later. In the years they spent listening to global prospects and customers about their supplier management challenges at IBM/Emptoris/Xcitec, Zimmer and Schwarz recognized an enormous unmet demand. They made the decision to pool their knowledge and experience. In January of 2013 they launched riskmethods, an international, cloud-based supply chain risk management solution.
Have you ever met with someone who exudes enthusiasm for what they are involved in? It is contagious and you can’t help but be energized by their passion.
Buyers Meeting Point recently had the opportunity to interview Eyal Rosenberg, founder of Nipendo, who exudes both vision and enthusiasm for the spend management space. Nipendo empowers organizations around the globe to reach a new level of procure-to-pay automation that is not just paperless but also errorless and effortless. Nipendo enables seamless interoperability with any supplier communication solution——including EDI, supplier network, and e-invoicing——allowing enterprises to achieve over 90% straight-through processing of all supplier invoices directly to their ERP systems while leveraging their existing implementations. In just a few years, they have become the dominant player in the Israeli Procure-to-Pay market and have recently expanded into the U.S.