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.
CLEVELAND, March 14, 2019 /PRNewswire/-- Nitor , a leading transformation services firm, has been awarded the contract by the State of Maryland for a new statewide e-procurement system, eMaryland Marketplace Advantage (eMMA).
“With the addition of this e-procurement system, Maryland is taking a significant step forward in the way we do business,” said Governor Hogan.
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.
On June 26th Nitor hosted a 1-hour webinar about how to best enable Procurement Transformation, titled: Realizing Value Through Procurement Transformation.
(If you were unable to attend the live event, don’t worry, you will be able to request access to the recording in the link below.)
The session, featuring Gary Stoddard, Partner at Nitor, highlighted what it takes for organizations to realize true value when looking to transform their Procurement practices.
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.