Ask any master woodworker what the most important skill is in woodworking. The answer won’t have anything to do with saws, chisels, or hand planes. It won’t be about design, planning, or building. The most important skill is fixing their mistakes. Master woodworkers will saw outside their line, they’ll have an errant hit with a chisel, they’ll ding the corner of their piece. They all make mistakes. Great woodworkers, however, know how to fix their mistakes.
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.
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.
Just like people, Procurement organizations are at different points on their continuous improvement journey. People rely on friends, classes, self-help books, mentors, and family to help them identify opportunities for growth and improvement. Where would a Procurement organization go to help them identify opportunities and actions required to continue on their journey?
Some companies use industry benchmarks and roundtables, or work with peers at other companies to see how they compare. But what does that really provide? A couple of data points that tell them they could be better. That probably isn’t breaking news if the questions are already being asked and it certainly doesn’t provide an actionable roadmap to sustainability.
Imagine this common scenario:
The Strategic Sourcing group has spent hundreds of hours creating savings for the organization. All year you have heard about the forecasted savings, but when those negotiated dollars do not reach the P&L, questions arise over why the savings were not realized. What happened?
Organizations can equip their sourcing professionals with several tools, such as creating standard terms and clauses to expedite the process and establishing an accessible contract repository (see previous blog "Retaining Value Through Contract Management” for more information on these topics). While the team can utilize these tools in the negotiation and drafting of the contract, they are not present in everyday purchasing transactions to enforce the purchasing terms.
How many times have you worked in a setting where you were the end of the line of a long, multi-department initiative? All of the workflows and processes linked together and each employee along the way had time to fully complete tasks. This well-oiled business machine created an easy, almost automatic, response from you to quickly close the loop.
This is a nice story and every employee’s dream. But realistically, when the initiative reached your desk, the well-oiled machine had probably already broken down somewhere along the way and lost a gear or two. Within Nitor Partners’ 8-Element Procurement Transformation Process, the seventh element, Invoice and Payment, helpsclosethe loop.
That huge tree in your backyard has caught a disease and is infecting the surrounding trees. It needs to come down. While it seems like a straightforward task, (all you have to do is grab an axe and a plaid shirt) in reality, there are so many details you have to consider - dust, falling branches, whether or not the tree is already leaning in one direction, how far the tree will fall - and this is all before you even pick up your axe to start chopping.