Collaborating to Achieve Seamless Source to Pay in 2017
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Transcript of Collaborating to Achieve Seamless Source to Pay in 2017
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Collaborating to Achieve Seamless Source to Pay in 2017Date: November 2016
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Agenda• Key Priorities for CPOs • Procurement Trends for the Future• Age Old Challenges Across Source-to-Pay • Source-to-Pay: Let’s Break it Down • Recommendations for Lasting Collaboration• Q&A
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Presenters
Anthony Santiago
Principal at AES Consulting & Former CPO
Stan Garber
Co-Founder Scout RFP
Vishal Patel
Director, Solutions MarketingTradeshift
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Key Priorities & Market Trends for CPOsDate:
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“ It’s naïve to think that sourcing has not been
impacted by the speed of business
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Priorities Depend on Your Level of Maturity
Source: Procurement Priorities depend on your Level of Maturity was from the Corporate Executive Board
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Key Priorities Articulating the business case and the burning platform
Building a high performing team
True partnering with the business
SRM and driving innovation
Having a significant impact on the bottom line
Leveraging technology to our best advantage
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Procurement Trends for the FutureUse of the cloud to improve collaboration
Self service within the organization
Improvements in eProcurement to reduce cycle times, increase compliance….
Procurement playing a bigger role in driving innovation and becoming a partner of choice
Use of AI for service, data analytics, etc.
Keen focus on reducing the risk of data breaches
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Supplier Relationship Management: Collaboratively “enlarging the pie” for all
“At the time of commitment, no value has actually been created. Post award management of supplier performance, in all relevant dimensions—safety, quality, delivery, and total cost—is essential to realizing the value that strategic sourcing has made available.”
Global Supply Chain ManagerBP Exploration
SRM
Governance
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Creating InnovationDiversity of thought coupled with innovative partnerships & focused “ideation”
Source: Procurement Strategy Council
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Basic Principles For SRM● Single channel of communication and coordination
● Gear discussions to primary categories of impact generation○ Innovation/strategic partnership/cost savings○ Leveraging existing services not currently used○ Drive growth
● Engage key BU executives, pre-wire by○ Sharing company and BU goals and aspirations○ Obtaining a similar level of information from supplier/partners○ Focus on where both organizations can drive impact, share best practices○ Line up participants based on agenda topics, including key decision makers
● Create “joint business plans” based on discussions○ Joint selection of initiatives○ Tracking of action plans○ Quantification of ideas implemented and value jointly created
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Age Old Challenges Across Source-to-PayDate:
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Source-to-Pay - Ideal View
Spend Analysis Sourcing
Contract Management
ProcurementInvoicing
& Payment
Supplier Management
Upstream
● Understand spend
● Strategic sourcing process for various categories
● Contracts, preferred pricing, terms, etc
● Drive significant cost savings
● Book or reinvest those savings
Downstream
● Digitize transactions and processes
● Optimize spend, capture savings
● Monitor compliance to contracts
● Smarter buying decisions
● Process efficiency
Collaboration across process, internally and externally
Holistic supplier management throughout
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Reality - Disconnected Processes & Information
Spend Analysis
Sourcing
Contract Management Procurement
Invoicing &
Payment
Supplier Management
● Spend data incompleteness and after the fact
● Sourcing - a lengthy process, only to have non-compliance
● Where has all the innovation gone
● Maverick buying, off-contract buying still prevalent
● User experience still poor
● Invoicing process often not linked to procurement
● Supplier management often an afterthoughtLimited Collaboration
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Covering More Spend
Indirect Spend
$1 Billion
37% ($370M)
Not influenced by procurement
28% ($280M)
Spot Buying
Most solutions will largely be focused on this...35% ($350M)
Strategic Sourcing Spend
And maybe some of this
?
?
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Challenge: VisibilityManual & Legacy Sourcing- Siloed data per group - Version control- No single source of truth
vs Collaboration - Get everybody on the same page - Project pipeline and alerts- Elevated enterprise visibility
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Challenge: Business OutcomesManual & Legacy Sourcing- Time consuming - Security risk (email, formula problems, etc.)
- Suppliers and contracts
vs Purpose Driven Impact - Target & support strategic initiatives- Reduced risk and compliance exposure - Real-time view of all initiatives, metrics, and outcomes
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Source-to-Pay, Let’s Break It DownDate:
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“ Spreadsheets bog down processes in many different ways that have a noticeable impact on how long it takes to get work done. They're fast
and easy to set up, but when they're used in collaborative, repetitive enterprise processes, they
become time wasters. - Rob Kugel, Analyst, Ventana Research
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Project Pipeline & Spend AnalysisExpedite time to value
• Optimize for success by identifying projects with the highest potential impact upstream
Elevate enterprise visibility• Spotlight sourcing with custom dashboarding for better cross-functional visibility
Champion internal wins• Report on wins effectively across the enterprise to build rapport with the lines of
business
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Sourcing: Organize - SystemizeOrganize & template business process for speed to sourcing
• Make compliance simple with easily replicated models of success• Eliminate overlap of process, job function & establish jr. training programs
Standardize processes• Ensure consistency across regions & departments for shortened ramping• Automate repeatable, resource-intense activities
Create a flexible & scalable sourcing system• Deploy agile systems that allow teams to stay ahead of projects• Continuously track & evaluate performance & adjust course accordingly
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Contract Management Better understand today’s and prior project investment decisions
• Enterprise-smart application that prioritizes data for maximum value• Real-time contract notifications are sent to your team and stakeholders• Set reminders to conduct business reviews to track performance against a contract• No surprises! Your team has lead-time to complete a detailed RFx.
Understand enterprise needs to source the right opportunities to grow revenue
• Identify expiring contracts to build your RFx pipeline• Strategic payoff: plan your team resources in advance to focus on the most value add contracts
• A collaborative platform “teaches” your stakeholders about your enterprise operations and contract process
• Complete your planning, sourcing, and contract process in a native platform• Prevent rework! Information flow through each Scout product• Efficiency and speed
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E-Procurement • Remove the barriers and make
buying process simple and intuitive • Allow for collaboration across
procurement, AP, employees, managers, suppliers.
• Find solution for non-contracted spend
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AP AutomationCollaboration across AP and P2P process is key
• Improve efficiency, cycle time• Reduce errors, disputes• Visibility for the business &
suppliersGlobally compliant
• E-invoicing regulations• VAT
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Recommendation for Lasting Collaboration Date:
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Recommendations ● Look for quick wins with stakeholder collaboration● Think internally and externally● Modern technologies allow you to implement and see
ROI in months not years● Consider where collaboration can make an impact in
S2P
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QuestionsDate: Anthony [email protected]
Vishal [email protected]
Stan [email protected]