Source-to-Pay Insights from Nitor

Five Questions Mid-Market Procurement Organizations Should Be Asking

Posted by Lynn Barras on Feb 6, 2018 5:44:56 PM

All companies in the middle-market space are not created equal. Some are fast growth companies that quickly progress through the mid-market. Others are preparing for mergers or acquisitions, while still other companies are comfortable in the mid-market and intend to stay there. All of th

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ese companies vary in many ways, but one challenge they all likely face is implementing procurement solutions and processes to save money and fund future growth. 

Within the past year procurement solutions have evolved to meet the needs of the mid-market. This core set of questions will help you determine if your organization is ready for a mid-market procurement solution.

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Topics: procurement consulting, Mid-market procurement, Mid-market source-to-pay

NitorAurora Delivers Fast Time-To-Value Procurement Results

Posted by Lynn Barras on Feb 5, 2018 12:02:05 PM

CLEVELAND, Feb. 6, 2018 /PRNewswire/ -- Nitor Partners introduces NitorAurora, a source-to-pay solution bundling the best procurement software with turnkey services designed for fast time-to-valueScreen Shot 2018-01-23 at 10.35.18 AM.png results.

Historically, source-to-pay technology solutions have been out of reach for many mid-market organizations due to high cost and scope. NitorAurora opens the door to these organizations, allowing them to realize efficiencies in their source-to-pay processes.

NitorAurora is also the perfect procurement solution for any size organization looking to take the first step in procurement transformation.

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Topics: procurement consulting, Mid-market procurement

Let the Data Speak and Listen!

Posted by Lynn Barras on Jan 11, 2018 11:47:34 AM

When the CFO states that your organization needs to save money, you listen! When your supervisor makes a “suggestion,” you listen! When your spouse tells you what he/she wants for an anniversary gift, you listen! When your favorite song plays on the radio, you listen!Listen to the data! (2) (1).png

When data speaks; DO YOU LISTEN?

An earlier blog posting, “Finding Opportunities in Spend Analysis” (May 24, 2016), focused on the mechanics of spend analysis in detail. As you go through these mechanics and perform the activities associated with sound spend data analysis, ask yourself the question, “What is the data saying?” or “Am I letting the data speak?” All too often, we don’t ask those questions and drive toward a pre-fixed solution regardless of what the data is actually telling us. Or worse, we force the data to fit a pre-determined sourcing strategy. Strategic Sourcing approaches are guided by the data and our ability to interpret the data, not the other way around. Remember, the key is to turn data into useful information.

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Topics: Spend Analytics, procurement consulting, Supplier Management

Melissa Drew Joins Nitor Partners

Posted by Lynn Barras on Jan 9, 2018 1:37:30 PM

CLEVELAND, OHIO - January 9, 2018 – Nitor Partners, the leader in Source-to-Pay transformation, welcomes in a new year and a new talent, Melissa Drew.

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Melissa Drew, with over 23 years of procurement and consulting experience, has joined Nitor Partners as a Principal within Nitor's SAP Ariba practice.

“Melissa’s hands-on experience supporting the development of technology optimization strategies across global Procurement and Supply Chain organizations makes her the perfect fit to lead our SAP Ariba practice. We look forward to working together to deliver transformational initiatives to our clients,” said Ryan Walicki, Partner at Nitor.

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Topics: procurement, procurement consulting

Empowering Organizations to Create Sustainable Value

Posted by Lynn Barras on Dec 19, 2017 11:14:56 AM

Empowering Organizations to Create Sustainable Value - The Need for a Holistic and Integrated Procurement Environment

Gary Stoddard is a Partner with Nitor Partners, whose single focus is empowering clients to achieve Source-to-Pay excellence. Dawn Tiura, CEO and President of Sourcing Industry Group, got together with Gary recently to get his thoughts on creating sustainability and the need for an integrated procurement environment.

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Topics: strategic sourcing, procurement consulting

Buckle Up! Survive The Twists & Turns of Change Management

Posted by Lynn Barras on Oct 19, 2017 12:00:19 PM

BUCKLE UP! Change rarely goes as planned, but with proper planning and strategies in place, it can be a far smoother ride.

How many times have we approached Change Management white knuckled with fear of the twists and turns that lie ahead? Think about the last time you were in a theme park - Did you ride the biggest roller coaster in the park? If you did, at what point did you wonder about the safety belt?  Change Management is much like that safety belt.

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Topics: procurement consulting, change managment, procurement change management

Sustain - Don't Outsource

Posted by Lynn Barras on Sep 25, 2017 10:06:02 AM

Much like people, organizations can feel like a fish out of water. This typically happens when employees take on tasks they cannot complete successfully or efficiently. Such situations lead to the rise of Business Process Outsourcing (BPO).

BPO initially started in larger organizations where third-party contractors were hired to complete tasks or processes that were not part of the organization's core business. As business evolved, BPO developed into the outsourcing of large-scale operations and at times entire departments. This activity was typically a quick, reactive measure with a single focus of cost cutting.

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Procurement Technology is for Every Organization (yes, even yours!)

Posted by Lynn Barras on Aug 3, 2017 9:54:53 AM

Procurement technology is now for everyone. This has not always been true. The perception has been that procurement technology solutions are too expensive, do too much or are not worth the incremental investment. This is now simply false.

Let’s dig into this:

1- The Tech Industry wants everyone to have access, including mid-market organizations

The evolution of technology in general and procurement technology is as follows:

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Topics: Mid-market procurement, Mid-market source-to-pay

Reverse Auction: Friend or Foe?

Posted by Lynn Barras on Jul 6, 2017 10:19:31 AM

This article was first published by Outsource at http://outsourcemag.com on June 29, 2017.

Procurement organizations have been using reverse auctions in sourcing events for decades as a means to reduce spend, introduce new vendors into the supply base and remain competitive in the market. While reverse auctions have flourished since the mid 1990’s, they have also been heavily scrutinized. Trends like reverse auctions have forced suppliers to adapt to competitive business practices or become inconsequential. As procurement tools become more streamlined, practices like reverse auctions are more commonplace in sourcing events; however, they continue to harbor negative connotations. Amidst this controversy, buyers and suppliers continue to see benefits from reverse auctions, but the myths surrounding this mode of buying power prevail:

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Topics: strategic sourcing, procurement consulting, reverse auctions

May The Force Be With You...force majeure in challenging global markets

Posted by Lynn Barras on May 31, 2017 10:19:49 AM

For Star Wars fans everywhere, although force majeure is French for a “superior or great force,” we are not referring to the famed energy field that gives the Jedi their power and binds the galaxy together. In the world of business and contracts, force majeure is actually defined as an extreme event beyond the control of an obligated party that prevents performance under a contract.

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Topics: strategic sourcing

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