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Elements of a Diversified Procurement Technology ROI (SynerTrade)

This content was published on the SynerTrade blog on September 6, 2018

When procurement is looking to select and implement new or replace Source to pay software, our focus is often on gathering requirements and comparing qualified alternatives. But we can’t view ourselves as the only stakeholders for the effort.

One of the earliest hurdles we must often get past is delivering a business case that documents the ROI corporate leadership can expect to see from the implementation.

Sure – there’s always savings, and no procurement technology ROI calculation would be complete without that element, but in an environment where every function, team, and individual is looked at to deliver ‘more’, a savings-only ROI may seem one dimensional.

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A Dose of Our Own Medicine: Improving Procurement Technology Selection and Implementation

When advocating for Procurement’s role in supplier evaluation and management, we often deliver the following advice to our internal stakeholders:

 

“It is hard to be objective about the supplier landscape in a space you manage so closely.”

“We can provide the bandwidth and knowledge to help you evaluate all available options.”

“If you involve us earlier in the selection process, we can make sure your requirements are documented thoroughly enough to qualify and rank your options.”

“We understand that this project is already underway, but there is still time to improve your results by getting us involved.”

 

Though we make these statements often, Procurement sometimes needs a gentle reminder that we can benefit from our own advice. This is especially true when it comes to selecting and implementing procurement technology. While we buy for a living, Procurement’s core value proposition is based on the idea that objective evaluation improves award decisions. All spend (even ours) will benefit from being managed in the same way.

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AI Needs Us More than We Need It – For Now (ATSC Blog)

This content was published on the ATSC Blog on Septmeber 3, 2018

People tend to have one of three responses to the abundant and persistent coverage of emerging technologies in business:

  1. Enthusiasm and optimism,
  2. A paralyzing fear of having dominant robot overlords,
  3. An old-fashioned eyeroll.

What all three reactions share is a sense of inevitability, an acceptance that full automation and digitalization are on the horizon and that their impact will be broadly disruptive.

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Evading the Strategy Trap in Pursuit of Procurement Agility (Determine)

This article was published on the Determine blog on August 22, 2018

Procurement’s desire to be agile is as well-documented and frequently discussed as our interest in transformation. In both cases, however, we are at risk of falling into the ‘strategy trap’ – the lack of clarity, direction and actionability that accompany all things non-tactical.

Tactical work and improvements are relatively easy:

Step 1: Document the current process
Step 2: Identify opportunities for improvement
Step 3: Define desired process
Step 4: Communicate and implement

While strategic work and improvements are a little more complicated:

Step 1: Become inspired by cutting edge approaches or thought leadership
Step 2: Struggle to decide how and where to begin
Step 3: Flounder
Step 4: Call a consulting firm and overpay for questionable results

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