Source-to-Pay Insights from Nitor

Working Capital: Old Term, New Trends

Posted by Lynn Barras on Apr 25, 2018 10:40:13 AM

Join us for a timely panel discussion on Treasury's impact on Working Capital, the importance of fair market payment terms, and how terms management can impact company financials for both buyers and suppliers. 

The lunch will be held at Gallaghers Steak House, 228 W 52nd St, New York, NY 10019 on May 15th from 12 – 2 PM.

Our esteemed panel will discuss:

  • Industry trends and best practices in Working Capital 
  • Tactical elements needed to succeed in running a Working Capital Program
  • Importance of fair market payment terms in a changing economy
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Topics: procurement, treasury and working capital

Jeff Scott Joins Nitor Partners

Posted by Lynn Barras on Apr 23, 2018 10:14:11 AM

CLEVELAND, OHIO – April 19, 2018 – Nitor Partners, the leader in Source-to-Pay transformation, is pleased to announce the addition of Jeff Scott to the Nitor team.

Jeff is responsible for leading Nitor’s Treasury & Working Capital Management practice and brings over 15 years of experience in Finance, Treasury and Banking Operations.

“Jeff was recognized as an early leader in the emerging Fintech ecosystem and has a proven track record of successful strategic transformations. Jeff offers our clients a holistic strategy to sustainable change in Treasury & Working Capital Management,” said Ryan Walicki, Partner at Nitor.

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Topics: procurement, procurement consulting, treasury and working capital

Dreams Do Come True

Posted by Lynn Barras on Apr 19, 2018 10:30:37 AM

On March 20th Nitor hosted a webinar specifically for mid-market procurement professionals, Accelerated & Affordable Procurement Technology Solutions for the Mid-Market.

(If you were unable to attend the live event, don’t worry, see the recording below.)

The session, featuring Sean Sollitto, Principal with Nitor,  highlighted how Procurement technology solutions have evolved to provide right-sized solutions for all organizations to automate and streamline source-to-pay processes.

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

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 these 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-value 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!

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.

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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