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ProcureCon Indirect East Q4 2020 Innovation Briefing

In this briefing, we look at three examples of how procurement is changing considering the pandemic and economic recovery. We also explore how some of the most well-known brands are adapting and give a synopsis for how procurement has shifted toward resilience, as well as a leadership position, within the organization.

ProcureCon Indirect East 2020 Innovation Briefing

In this brief, you’ll receive valuable insight into areas including delivering on innovation, disruptive technologies to address long standing procurement issues, the speed of sourcing, and much more so you can learn to ensure your long term sourcing success.

High Performance Sourcing and Procurement: Driving Value Through Collaboration

In an era of rising customer expectations, intensifying competition, increasing globalization, and rapidly changing business conditions, high-performance sourcing, procurement, and supply chain management have become crucial to enterprise success. Historically viewed as back-office operational functions, sourcing and procurement are now strategically at the forefront of the business, helping companies not only maximize efficiency, but also respond flexibly to the demands that drive the marketplace. Despite the growing recognition of strategic sourcing’s influence on bottom-line success, many of even the largest enterprises still execute sourcing and procurement activities using an ungainly combination of legacy systems, spreadsheets, email, and manual processes. Happily, enterprises seeking greater visibility, integration, and automation in the sourcing and procurement arena now have cloud technology options that can generate positive results quickly, with a minimum of implementation-related risk. Leading-edge technology platforms can bring together previously siloed personnel and processes, remove resource-intensive and error-prone manual interventions, provide end-to-end visibility into sourcing projects and performance, facilitate an enterprise-wide sourcing methodology, and allow both internal and external stakeholders to work together effectively in real time. This can provide the foundation for a radical rethinking of procurement and a sourcing transformation—which, in turn, are vital objectives for any enterprise striving for strategy-driven results.

Hunting Mice While the Elephants Run Wild

For procurement executives engaged in driving optimization through automation, it is important to recognize that Procureto-Pay (P2P) tools do not provide a one-size-fits-all solution that they are hoping for. On average, more than 50% of the enterprise procurement budget is spent on services which need to be actively managed during the in-life phase. In some cases, considerably more. In addition, the majority of the spend is typically with a small percentage of large contracts. With P2P tools offering limited in-life management functionality, there is distinct need to consider combining P2P deployment with a specialized supplier governance tool. But which of the two should be deployed first? This paper helps answer this important question.

The 2020 ProcureCon CPO Study

New for 2020, ProcureCon is proud to present our 3rd annual CPO Study. This report contains the insights of our exclusive CPO panel, as well as direct interviews with leaders in the procurement space to create a comprehensive view of the priorities and strategies they will be using to excel in 2020. Don't miss this exciting, high-level report. Click the image to download your copy now.

World Class Procurement, Redefining Performance in a Digital Era

What makes procurement world class? It's the ability to deliver the fundamentals, while going above and beyond to create value and deliver to internal and external customers. In this exciting report with Coupa and the Hackett Group, you'll learn how to define your scorecard's terms, create value, and tell the stories that will move the dial for your organization. Download your copy now! 

It All Starts With Your Procurement Data

The beginning of any journey in indirect procurement is capitalizing on your procurement data to understand organizational performance as well as to shape both goals and opportunities. Historically, indirect purchasing has been responsible for the procurement of non-production materials (NPM) and services. Unlike direct purchases that have a relatively constrained supplier base and a controlled or planned use of parts, indirect procurement has almost an infinite variety in parts and supplies that can be bought from tens of thousands, if not hundreds of thousands of suppliers. With so many supplier options out there, how does an organization stay on top of their indirect procurement? The answer: data.

5 Major Contingent Workforce Management Trends to Watch in 2020

Deepen your understanding of the trends shaping the industry and how your organization can take action today. Today’s tight labor market has created a fierce battle for talent. According to a recent study, attracting and retaining top talent ranks as the number-one internal stressor for C-suite executives globally in 2020. Unfortunately, this battle is one that some organizations are losing, with more than two-thirds reporting trouble filling open positions with qualified candidates. Many leading companies are proactively optimizing their workforces and minimizing risk by implementing new tactics and strategies, partnering with a Managed Services Provider (MSP), and leveraging a cutting-edge Vendor Management System (VMS). To help ensure you’re one of these organizations, PRO Unlimited has compiled a list of 2020’s key workforce management trends based on our 30 years of experience working with Fortune 1000 companies. Understanding and acting on these will position you for success in the year ahead.

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The 2019 ProcureCon CPO Study

New for 2019, ProcureCon is proud to present our 3rd annual CPO Study. This report contains the insights of our exclusive CPO panel, as well as direct interviews with leaders in the procurement space to create a comprehensive view of the priorities and strategies they will be using to excel in 2019. Don't miss this exciting, high-level report. Click the image to download your copy now.

Funnel Vision: Procurement’s Unlikely Blueprint for Driving Transformation

Over the last 20 years, Sales has led one of the most remarkable examples of digital transformation in the enterprise, rising to a level of polished precision, executive standing, and vitality within the organization. In quick succession other departments have modeled its success, leading not only a transformation, but a full digitization of each function. IT, InfoSec, Marketing, Finance, and HR are all well down the transformational path. Now, as margin and growth pressures have intensified, Sourcing and Procurement is directly in the crosshairs of enterprise transformation. Sales has risen to these new levels of efficiency and effectiveness aided by CRM and automation platforms. These systems have enabled full up-to-the minute visibility, methodical collaboration, and “drill down” control to drive increasingly better results. By studying the path blazed by Sales and modeling its successful approach toward processes - notably the concept of a Sales pipeline - CPOs and other Sourcing executives can find a repeatable blueprint to restructure teams and process and achieve a similar transformation.

Realizing a Better Alternative to ERP-Based Indirect Sourcing

When it comes to procurement, companies want an end-to-end process. From a data perspective, this is a key motivator for companies that choose to adopt ERP systems; but that data quickly becomes fragmented and complex as companies evolve.As an alternative to ERP systems, modular sourcing allows internal departments and stakeholders to maintain visibility throughout RFx activities. In this report, we explore how modular sourcing solutions help large and small companies achieve profitability and cost savings ‘right out of the gate.’

Procurement Workbook 2019

The procurement sector stands at a crossroads, and as an industry that’s in a state of flux. Veteran procurement teams attached to long-established organizations are competing and co-existing with procurement professionals in newer ventures whose approach is more geared towards nuts-and-bolts functionality, rather than an urge to dazzle. For the most part, Chief Procurement Officers (CPOs) and their equivalent have been making strides in assuming greater responsibility at their various organizations. But there’s a wide variation as to whom they report, and therefore no single set path that an enterprise may follow. This requires procurement practitioners to adapt their strategies and activities to the values and hierarchical structure of their individual businesses.

ProcureCon's 2018 CIO-CPO Report

The relationship between IT leadership and the CPO has major significance in 2018 and beyond. As one of, if not the most significant categories of indirect spend, controlling technology spending can put a lot of points on the board for Procurement while influencing the strategic trajectory of the organization at large. Download the latest research from ProcureCon here, where we examine the relationship between the leadership that will define the genesis of your organization.

CPO Study 2017: Exploring the Role of Technology in Procurement Strategic Transformation

Click the image on the left to download now! The role of procurement is changing, though the core commitment to creating value that drives its evolution remains the same. In a large part, these changes are being enabled by developments in the technology procurement has at its disposal, allowing CPOs to introduce automation, self-service buying, and detailed analytics that provide more easy-to-use tools that capture larger amounts of data. For these reasons, a center-led model is emerging as the preferred organizational structure for procurement within global organizations. In the midst of these structural changes, the role of the CPO itself is being imbued with the authority to influence the larger strategies of the businesses they serve. With increasingly detailed analytics providing insight on patterns of spending, streamlined tools for processing routine purchases, and invigorated relationships with other department heads, CPOs are entering a period where they are more influential than ever before. Key topics include: Centralization of procurement may not mean scrutiny of purchases made across a global organization; rather, a Procurement Center of Excellence now serves as a strategic command center and provider of consultative value optimization, while recognizing that certain commodities cannot be effectively globalized. Procurement is looking forward to greater levels of automation, Big Data utilization, and more internal client-friendly sourcing tools in order to transcend the tactical focus of their roles, fully dedicating themselves to strategy.

Steps for Implementing Vendor Management Solutions and Strategies

Click the image on the left to download now! Whether co-managed with an external partner or internal department, or fully under the jurisdiction of either procurement or HR, contingent staffing is a process that has been around for multiple years and is increasingly being improved through the application of technology. Key topics include: Assessing the level of staffing and efficacy within procurement groups Profiling contingent labor programs by age, size, and distribution Responsibility for contingent labor strategies and program management

CPO Study 2015: Gauging the Priorities and Goals of Chief Procurement Officers

Click the image to the left to download your free copy! ProcureCon's most senior level report is here. The 2015 CPO Study contains insight and case studies from leaders in the procurement community, covering leading topics which include: - Deepening relationships with internal stakeholders - Applying the latest in technology - Identifying the next generation of procurement talent - The latest sources of disruption around the role

The State of Risk: Understanding Threats to Business Continuity, Supply Chain Challenges, and How Procurement can use Financial Health to Build Resilient Supply Chains

Risk mitigation is critically important, especially given the frequency that supplier risk events actually impact the operations of respondents’ organizations. With more than one executive in three having dealt with fallout from a risk event in the past 24 months, it’s likely to occur within your organization. Risk is unavoidable, but if companies take a proactive approach to their risk management efforts then they will minimize the impact of disruptions or even avoid them altogether.Financial issues are often the precursors and a leading indicator of risk in other areas. Financial health demonstrates a supplier’s ability to weather unforeseen disruptions which is why tracking supplier financial health can serve as an early warning system to minimize impact and risk exposure.

Case Study—Hard Lessons Lead to Enhanced Due Diligence

Having witnessed first-hand how the corrupt actions of a client can lead to the demise of a professional services business, Risk Management at this tax firm recognized the importance of having a vigorous due-diligence strategy to prevent damage to its reputation and finances. Comfortable and complacent was not an option as the firm set its sights on greater visibility into potential risk when considering prospective clients— regardless of whether they were individuals, families, tax-exempt entities such as trusts and foundations, or commercial enterprises—whether public or private. To achieve their goals, the firm required a streamlined process that would allow for Risk Management to conduct due diligence as quickly and efficiently as possible. The Senior Risk Manager notes, “Relying on the open Web was like searching for the proverbial needle in a haystack. It was time-consuming and 90 percent of the time, we could not procure the information needed for assessing risk solely utilizing Google.”

Revenue Responsibility and the Evolving Role of External Procurement and Marketing Capabilities

As marketing teams are increasingly held responsible for revenue, they're turning to procurement teams to innovate the means by which they achieve key business objectives. In this benchmark report, we explore how procurement teams can align with marketing goals to exceed corporate fiscal expectations. You will discover:Solutions for achieving executive approval of marketing initiativesThe best applications for business process outsourcing (BPO) in marketingThe alignment of print procurement and creative execution

ProcureCon Annual CPO Study 2018

ProcureCon’s Annual CPO study is our most anticipated and high profile report we publish each year, and now you can gain the perspective of your most influential peers to jumpstart 2018! Featuring year-over-year analysis, interviews with key industry thought leaders, and exclusive, fresh data from CPOs themselves, this is one report you don’t want to miss out on. Click the image to the left to download your free copy now.

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