Your organization has made the decision to invest in a Source-to-Pay (S2P) technology and you have been asked to lead the selection project. The selection of a technology is typically a large investment, and you will be establishing a provider partnership that will last many years – it is critical that you select the right technology and partner. Recognizing this, you sit down to start thinking about your approach and quickly realize that selecting a S2P technology is a complex project that requires you to understand the needs of stakeholders throughout your organization along with the current functionality and capabilities of the S2P technology providers in the marketplace. How should you go about pulling together all of the information you need to effectively go to market? What questions do you need to ask of providers? Do you have a sufficient understanding of the technology to ask the right questions? How do you evaluate and compare the technologies?
Congratulations! Your company has made the decision to streamline and simplify the way they do business by investing in a source-to-pay (S2P) software solution.
Now, how do you get your suppliers to adopt the idea of transacting electronically? This S2P implementation impacts more than just your company; if your suppliers are not onboard with this change, it could create a strain on your relationships and negatively impact the bottom line.
Source-to-Pay (S2P) deployment projects are a large undertaking for any organization. These initiatives require a large resource investment, so there are high expectations on value delivery. There can be pressure to complete the project quickly leading many organizations to dive right into the deployment, which can cause challenges and risks to project delivery.
The U.S. Department of Defense has pressed the pause button on its search for a cloud computing vendor.
Earlier this month reports in NPR said only a few weeks before the government was slated to announce the winner of a 10-year, $10 billion cloud computing Project under Project Joint Enterprise Defense Infrastructure (Project JEDI), newly-appointed Defense Secretary Mark Esper decided to halt and review the process.
Nitor, the leader in source-to-pay transformation, and Ivalua, a leading provider of global Spend Management Cloud Solutions, announced the successful launch of the Maryland Department of General Services’ new e-procurement system, eMaryland Marketplace Advantage (eMMA), which deployed on schedule and on budget.
eMMA is state-of-the-art procurement technology powered by the Ivalua Platform, a global leader in procurement technology. When fully implemented, eMMA will allow buyers to collaborate with vendors from the bidding and contracting process all the way through the purchasing process. The initiative is intended to drive transparency, quality, and compliance in state procurement and improve the overall experience for all stakeholders.
Maryland Department of General Services Office of State Procurement launches new e-procurement system
BALTIMORE, MD – The Maryland Department of General Services today announced the Office of State Procurement launched the state’s new e-procurement system eMaryland Marketplace Advantage (eMMA). This initiative is a direct result of Governor Larry Hogan’s 2016 Commission to Modernize State Procurement, led by Lt. Governor Boyd K. Rutherford.
You secured the budget, obtained leadership endorsement, purchased your procurement software, and are ready to implement. Then it hits you – there is no way we can do this on our own! If that sounds like you…you are not alone. In fact, the vast majority of companies preparing to implement procurement automation software have correctly realized they need the help of an experienced, certified software implementation partner.
The journey is full of challenges, some you may not know exist. Software providers do the best they can during the sales cycle to prepare you, but the reality is, there is just too much to know. It can feel overwhelming to look at an 8 – 18 month project plan with more than six workstreams. Planning your team’s resource utilization, understanding how each workstream ties into the others and connecting dependencies – HELP!
It’s time to reach out for help and find an implementation partner. Here are some ideas of what to look for when selecting a partner.
Nitor named a best-fit provider for SAP Cloud Procurement Solutions
June 4, 2019 /PRNewswire/ -- Nitor, a leading business process transformation services firm, has been granted SAP Recognized Expertise in cloud procurement solutions in North America. Nitor achieved this designation based on their skills and competencies, as well as their proven record of client success and satisfaction.
"For over 15 years Nitor and SAP have partnered to create value through technology and process transformation," said Sean Sollitto, SAP lead with Nitor. “We are proud to be recognized by SAP for maintaining high levels of satisfaction, solution quality, and service delivery.”
As discussed in Part 1 of this blog series, companies strive to maintain margins and maximize cash flows by managing the variables over which they exercise control. Efforts from the Procurement team focus on maintaining competitive bidding for the material and service inputs needed in the production and delivery of goods or services to market. Once suppliers are identified and contracted by the buyer, a balancing act occurs to negotiate favorable payment terms and/or capture discounts and rebates. In return for these concessions, the buyer can now offer options to facilitate expedited payments utilizing technologies that offer processing efficiencies. As with all trading relationships, the underlying dynamics are needed for both the buyer and supplier to manage counterparty risk, remain competitive, and maintain individual profitability.
Even if you do not play video games, chances are you’ve heard of Mario Kart. The goal of this game is to finish the race first, or in the least amount of time, while avoiding shells and banana peels, which make you lose control. A Source-to-Pay (S2P) deployment is very similar – the goal is to implement the right tool as quickly as possible while avoiding major pitfalls. So, before you jump into your S2P deployment “Kart,” here are some shells and banana peels to avoid.