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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

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

Looking Ahead: Hot Categories to Source in 2016

Posted by Kelly Deacon on Feb 25, 2016 8:10:00 AM

Out of all the sourcing resolutions you’ve made for this year, your overall goal is likely to deliver more value for your organization and find new, creative ways to save. However, it’s often hard to know what to source and where to look for those savings. In fact, we’ve found 31 percent of procurement professionals are uncertain of the categories they should take to auction.

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Topics: Analysts & Research, e-Sourcing Strategy, e-Sourcing Successes

Sourcing Beyond Dollars and Cents

Posted by Tracie Rohn on Feb 4, 2016 8:00:00 AM

Measuring sourcing success comes in a variety of ways. The first place owners tend to look is at the bottom line - what does this mean for profit and loss? 

Of course, looking at the cold hard numbers is incredibly important for the success of any organization but those in the procurement industry have to look outside the box and explore less tangible measurements for success. 

Andrew Bartolini of Ardent Partners and CPO Rising discusses the importance of developing metrics to help measure the less concrete aspects of procurement, in the article “CPO Scorecard - How to Keep Score in Procurement”.  

According to Ardent Partners these four points will help create a reliable and balanced measurement system:

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Topics: Strategic Sourcing In The News, Analysts & Research

Translate Complex Categories Into Productive Sourcing Projects

Posted by Michelle Fombelle on Jul 16, 2015 8:30:00 AM

According to a Spend Matters post by Jeff Gilkerson at The Hackett Group, "approximately 70 percent of large organizations have eSourcing tools." However, the article goes on to state that just because companies have purchased an e-sourcing tool doesn't mean that the e-sourcing tools are imbedded in the sourcing process, that they've adequately trained the staff, or that the tools are even used on a regular basis.

It seems surprising that many companies realize the benefits of e-sourcing and yet don't utilize e-sourcing to its fullest potential. Especially considering that our research shows 62 percent of procurement and sourcing professionals report that their e-sourcing strategy has a direct and positive impact on company margins, profitability, working capital, and cash flow. 

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Topics: Analysts & Research, e-Sourcing Successes

3 Opportunities to Reduce Operating Costs & Boost Bottom-Line Growth

Posted by Michelle Fombelle on Jul 2, 2015 8:00:00 AM

Every business is looking to increase profits. In order to do so organizations must do two things: boost revenue and reduce costs. We are going to specifically talk about operating expenses (aka: operational costs, fixed expenses, and indirect costs) – those annoying expenditures that a company incurs as a result of performing its normal business operations.

There are many reasons a company many need to reduce operating costs, such as:

  1. Demand in the market has declined – thus decreasing profitability
  2. Your organization is losing money and need to return to profitability
  3. Your business is profitable already, however upper management has bigger profit goals and objectives
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Topics: Analysts & Research, e-Sourcing Successes

e-Sourcing’s Role in Financial Performance: All the Stats, Facts and Data

Posted by Michelle Fombelle on Jun 18, 2015 8:00:00 AM

The role of procurement professionals within the business is changing. It has been changing for a while now. But it seems like the role is shifting at an even faster rate than before. How are you going to keep up?

In a recent survey we set out to discover the outlook of procurement professionals as well as executives – to see where sourcing is making strides and where they are still facing challenges. 

We uncovered that most procurement professionals believe their e-sourcing initiatives are creating a meaningful impact on business value for their organizations. This is great news considering the Hackett Group’s annual Key Issues study indicated that three-quarters of respondents ranked elevating procurement’s role to that of a trusted adviser as a critical or major priority in 2015.

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Topics: Analysts & Research

The Future of Procurement Lies in its People

Posted by Kelly Deacon on Jun 11, 2015 8:00:00 AM

Talent management is a hot topic in procurement – and has been for a while now. Baby Boomers are retiring, and there’s a shortage of rising procurement leaders ready to take their place. In fact, the U.S. Census Bureau predicts that more than 60 million baby boomers will exit the workforce by 2025, and only approximately 40 million new bodies will enter. That’s a pretty big gap.

With technology continuously advancing and the skills needed to succeed in today’s market constantly evolving, finding procurement professionals with both the right experience and technical know-how is challenging. But talent is key for procurement’s future – it directly contributes to value creation, performance and competitive advantage, and the business’ knowledge of products, processes and partners within the supply base – all critical components for long term business success.

When looking to the next generation of procurement leaders, where are the biggest talent gaps today?

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Topics: Analysts & Research, e-Sourcing Strategy

What spend categories are generating the most value for procurement?

Posted by Michelle Fombelle on Mar 31, 2015 8:00:00 AM

Ever wonder if you're e-sourcing all you can?

Do you have spend areas that have been deemed untouchable for e-sourcing?

It is often hard to know what to categories to e-source and where to look for those savings. Did you know that e-sourcing works for services, direct items, and other complex buys? If you've only used e-sourcing for indirect purchases you are missing a big opportunity to provide even more value. Don’t believe me check out a recent post e-Sourcing Trends: Take a look back to find your way forward.

We see savings in many different categories across the organization - not just commodity buys. Here's a glimpse at the type of e-sourcing events that your peers - our customers - completed over the last two years – December 2012 to December 2014. 

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Topics: Analysts & Research, e-Sourcing Successes

e-Sourcing Trends: Take a look back to find your way forward

Posted by Teresa Yost on Mar 12, 2015 8:00:00 AM

With 2014 a distant memory, 2015 corporate initiatives are under way. While it’s important for us to know where we’re going, it’s just as important to understand where we’ve been. 

Let’s take a moment to reflect on some e-sourcing trends. These trends allow you to extrapolate historical information that could aid in determining your future e-sourcing goals. Are those initiatives too ambitious?  Or simply not bold enough?

This post will provide you with a high level view of what your peers – our customers – are doing in their e-sourcing programs.  How does your strategic sourcing program compare?  How does this data translate into opportunities for your program?

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Topics: Motivational, Analysts & Research, e-Sourcing Strategy