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5 Reasons Innovation Best Practices in Spend Control Conference is Great for Procurement & Finance Professionals

Posted by Michelle Fombelle on Jul 21, 2016 8:30:00 AM

We hear it from Intesource customers all the time: Innovation is my favorite conference! (For the record, it’s my favorite as well.)  We actually plan Innovation with all procurement and finance people in mind, regardless of whether or not they use Intesource solutions, we focus on the education and don't sell you on our products. There’s many good reasons that Intesource customers return year after year.

Here are the top five reasons that customers will be joining us in Scottsdale, Arizona from September 18-20 (and why you should too!)

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Topics: Intesource Events

Optimizing eSourcing Through Adoption in 10 Steps

Posted by Kelly Deacon on Jul 14, 2016 8:30:00 AM

First off, let's all agree that eSourcing is unparalleled in its ability to return amazing ROI, as evidenced by the fact that the vast majority of large companies have eSourcing tools.

But just because an organization has an eSourcing tool doesn't mean they're using it to its fullest potential. And many aren't. Adoption issues plague eSourcing programs, but the organizations that are able to overcome these challenges reap huge rewards.

So what's coming between companies and eSourcing success? In the simplest of terms it comes down to one thing - fear of change.

How do you overcome fear of change? With information, education, and by providing proof and reassurance along the way that this uncomfortable period of 'newness' will all be worth it in the end.

When evaluating an eSourcing solution the implementation and management of the program should be top of mind - right along with feature functionality. 

The 10 program management essentials outlined below cover both the strategic and tactical ways to build adoption by making the process clear, repeatable, and overall less intimidating. 

  1. Category Discovery: Review all areas of spend to determine the best opportunities for eSourcing savings. Repeat this process annually.
  2. Implementation and Project Plan: Create a detailed blueprint outlining key personnel, program goals, and a plan of attack for achieving those goals.
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Topics: e-Sourcing Best Practices, e-Sourcing Strategy

Strategic Sourcing—the myth, the legend, the hero

Posted by Tracie Rohn on Jul 7, 2016 8:00:00 AM

We have heard this buzzword “Strategic Sourcing” more times than we can count on all of our fingers and toes but the truth is this—in the procurement world this one phrase you don’t want to forget or ignore. What does it all mean? What myths about strategic sourcing exist? What accomplishments has strategic sourcing achieved that could be seen as legendary? And of course everyone loves a hero—why is strategic sourcing the hero you need in your organization?  

The Myth:

Lowest Cost is ALL that matters.

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Topics: Motivational, e-Sourcing Strategy, About e-Sourcing

Webinar: Procurement Mega Trends

Posted by Kelly Deacon on Jun 30, 2016 8:30:00 AM

Jason Busch, founder of Spend Matters, a global content community dedicated to examining a range of procurement and supply chain issues, recently sat down to discuss the current and future state of procurement. 

"Everyday priorities can overwhelm us, whether it’s currencies or commodities. So we’ve got to think about how we can effectively manage these areas given the expanding role of procurement. We’ve also got to operate in a world that’s more complicated and gray. At the same time technology has evolved in silos. Yes, there are suites out there and yes companies are buying more and more modules yet the notion of one suite to manage procurement is absolutely ludicrous.

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Topics: Guest Posts, Analysts & Research

4 Ways Sourcing Drives Business Value

Posted by Kelly Deacon on Jun 24, 2016 8:30:00 AM

"Smart sourcing" is not just for procurement. The approach can generate value that positively impacts every corner of the organization. From sales and finance to operations and marketing, sourcing can help every department grow and reach their goals.

Stakeholders without a procurement background may not fully understand at first how valuable sourcing can be, but its role in areas like finance, risk management, customer satisfaction and brand reputation can reap tremendous rewards when implemented throughout the entire business. Which areas have the greatest potential?

Finance: the foundation for the future

Sourcing is an incredibly effective way to improve your organization’s bottom line. Think more savings, new revenue and unlocked working capital. By taking suppliers to auction on a regular basis, teams secure fair pricing, and can often end up getting a better deal on key supply sources. It seems simple: by driving costs down, profitability goes up, but these benefits must be sustained, measured and optimized over time in order to see real financial gains.

Key metrics to track include total cost of ownership (TCO), cost avoidance and company valuation. Sourcing complex categories like OpEx and CapEx, focusing on TCO, and understanding how these purchases truly impact the bottom line helps drive stronger, more sustainable results. Ultimately, this financial impact will shape the growth and direction of the organization.

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Topics: Motivational, e-Sourcing Best Practices

Staying in the Know: Ten Procurement Influencers to Follow

Posted by Michelle Fombelle on Jun 16, 2016 8:30:00 AM

When you work in procurement, social media might not seem completely related to your job. After all, it’s a platform for reconnecting with old friends, keeping up with what’s going on with family and distant relatives, and posting photos from your most recent vacation, right? Although those notions are true, social media, especially LinkedIn, can be a valuable tool for sourcing teams looking to stay abreast of the latest trends and news impacting their space.

Procurement leaders understand that using social platforms can be a great way to learn from and engage with industry peers and satisfy a thirst for knowledge while balancing a busy schedule.

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Topics: Motivational, Strategic Sourcing In The News

Transparency to Freight Costs through eSourcing

Posted by Teresa Yost on Jun 9, 2016 8:10:00 AM

We truly enjoy the partnerships we’ve built with our clients.  It’s through these relationships that we learn about the day to day challenges our users face.  Periodically their pain is our gain - meaning that sometimes we’re able to assist by developing additional functionality to further assist them in their procurement duties.

A friendly interview

Let me introduce you to Jeff Abramson.  Jeff oversees supply chain and purchasing for a chain of barbecue restaurants owned, operated and franchised throughout the U.S. states and Canada.  His company has been an Intesource partner since December 2013. 

Late last year Intesource received a request from Jeff asking Intesource to assist him and his team in automating their manual process for gathering freight charges offered by their suppliers.  Their current process was cumbersome and time consuming. 

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Topics: Strategic Sourcing Technology, e-Sourcing Strategy, Technology

How to: A Guide to Implementing eSourcing

Posted by Lindsay Bernacchi on Jun 2, 2016 8:00:00 AM

Implementing eSourcing within a company can be a daunting task. Especially if it is a culture that has never experienced sourcing in that form. One would think that in 2016 most companies have had some type of experience with eSourcing but that isn’t always the case.

Recently Gregg Brandyberry, President of Rapid Deployment Procurement Excellence Inc. sat down with CPO Rising and gave some advice on successfully implementing eSourcing into an organization. Brandyberry’s 5 lessons to be learned are: 

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Topics: Motivational, e-Sourcing Successes

Smart Sourcing: A New Way to Drive Positive Financial Performance

Posted by Brian Miller on May 26, 2016 8:00:00 AM

Last month, Vestis Retail Group, parent company to Bob’s Stores and Eastern Mountain Sports, joined the growing list of retailers forced to declare bankruptcy. Bankruptcy is unique to every company, and is made up of a myriad of complex issues that companies need to carefully consider when creating a plan for regaining financial health. However, one strategy that can be beneficial to all organizations and can ensure financial viability and growth in the face of mounting fiscal pressure is implementing a holistic approach to sourcing. Procurement can drive positive financial performance through sourcing by raising value for customers, generating increased savings and limiting the amount of risk the company comes into contact with.

Consistent value for customers

Procurement has the unique ability to create cost savings on a regular basis by taking various products and services the company purchases to bid. By frequently conducting reverse auctions, the procurement team develops a solid understanding of the prices, products and contract terms available to them and can decipher whether a current or perspective supplier is offering a fair price with more certainty.

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Topics: Strategic Sourcing In The News

PROACTIS Named to Spend Matter’s 2016 Providers to Know

Posted by Kelly Deacon on May 23, 2016 8:10:00 AM

We’re excited, not only to be back, but to have improved our position from a Spend Matters Provider to Watch in 2015, to a Provider to Know in 2016.

According to Spend Matters, The 50 Providers to Know list “highlights firms that continue to lead the charge on new procurement technologies and services driving innovation and changing the way we do business.”

In 2015 PROACTIS was hailed as a Provider to Watch for successfully carving out a niche in the UK for P2P as well as the acquisition of EGS Group, Intesource, and Intelligent Capture Limited. It was a strategy that allowed PROACTIS to expand and strengthen our Spend Control and eProcurement solutions and grow our vertical and geographical footprint.

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Topics: Strategic Sourcing In The News, Analysts & Research