Tag Archives: procurement webinar

3 Steps To Kickstarting Your Marketplace Strategy

Our latest webinar, Going to Market(place): The Future of Procurement sponsored by Amazon Business is now available on Procurious. Sign up now to listen!

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Everyone’s talking about the benefits of procurement marketplaces, particularly when it comes to managing tail spend – but actually adopting one as part of a procurement strategy is another matter entirely. If it’s something your team is talking about, but not yet investing in, how do you get started? And if you’ve already taken the leap, how can you ensure you’re making the most of it?

In a recent webinar Going To market(place): The Future of Procurement we defined marketplaces, in short, as places where people gather (in person or digitally) to buy and sell goods and services. For B2B purchasing, marketplaces are gaining steam, with recent announcements indicating that millions of businesses globally use Amazon Business.

What’s driving this trend?

The global business environment is challenging organisations of all sizes to be increasingly agile and remain competitive with slim margins. Procurement teams have an opportunity to contribute to business performance through digital innovation, new technologies, and other strategic projects. However, they need the bandwidth to do so and that’s often a key challenge.

According to the 2018 Deloitte CPO Survey, 51 per cent of procurement leaders shared that they did not believe their teams had sufficient capabilities to deliver on their procurement strategy. And recent Procurement Leaders research found that administrative and non-strategic work can take up to a third of a category manager’s time.

A B2B marketplace offers the opportunity to offload a significant amount of time spent on administrative work through a solution that offers you choice, competitive offers, and transparent pricing – with tools that help you to maintain procurement control and visibility. Perhaps most importantly, this opens up your resource to focus on more value-adding strategic activities.

How do you get started?

We think about getting started as a three step process.

  1. Build your business case and understand the potential savings

We believe in working backwards from the customer. First, determine who your customer is – whether that’s your buyers, your procurement team, or your company more broadly. Then identify what your customer actually needs and the problem you’re trying to solve. From there, work backwards to ensure your strategy delivers on that customer need.

For example, if you’re looking to empower your end users by increasing stakeholder satisfaction and collaboration, and offload administrative burden so that you can focus your procurement team on strategic initiatives, build your business case there.

When you estimate your potential savings, consider both hard savings, including product costs and shipping fees, as well as soft savings: the cost of managing suppliers – with Hackett Group reporting the average cost between $700-$1400; the cost of search time in finding the items that are needed; and the cost of PO processing time. Make sure to consider both hard and soft savings when looking at your total potential value saved.

  1. Register for your account

With Amazon Business, registering for an account is free and takes minutes to complete. When you have registered your account, take some time to configure your account according to your needs. This could mean thinking through what categories you want to allow and those you want to restrict, including curating what’s available for buyers to purchase. For example, if you have an existing contract for IT hardware, you may want to restrict purchasing of those items, but leave office supplies, janitorial, and other categories open for miscellaneous purchases. Amazon Business also allows you to curate purchasing to only those items that offer a VAT invoice

You may also want to consider how to streamline payments on the marketplace. Do you have a p-card or corporate card programme, or do you wish to pay on terms? Do you need to set up shared payment between groups? Establishing these points up front will make purchasing easier for your buyers.

And depending on your set-up and internal initiatives, you may want to integrate a marketplace as a punchout catalogue in your eProcurement system rather than purchasing directly on the marketplace.

  1. Roll out

Rolling out a marketplace, like any other implementation, will require some change management with your stakeholders. However, the idea of using a B2C marketplace that is familiar and easy to use for B2B purchases requires little to no training. And it’s easy to convince your team of the benefits!

Keep in mind that it always takes more than one email to get your audience’s attention, and you should plan for a regular cadence of messages to reinforce the new process. In addition, we recommend that you plan milestone evaluations with stakeholders to reinforce adoption and review key metrics.

Finally, don’t forget to communicate often with your marketplace account manager to keep up to date on new releases. B2B marketplaces are quickly growing and developing, with new functionality frequently coming to market. If you want a feature that’s not available today, odds are that it’s around the corner.

Using a B2B marketplace for tail spend can save your team a great deal of time and money, and it doesn’t have to be complicated. And if you need help, you can always reach out to your Amazon Business account representative.

To learn more about Amazon Business and register for a free account, visit amazon.co.uk/business.

Our latest webinar, Going to Market(place): The Future of Procurement sponsored by Amazon Business is now available on Procurious. Sign up to listen.  

Is It Time For Procurement Pros To Go To Market?

Going to Market (Place) : The Future of Procurement goes live on 13th November. Sign up now.  

Could a  B2B e-marketplace transform the lives of your procurement team? What are the key benefits of using a marketplace and why are some procurement leaders reluctant to take the leap?

We hear from Molly Dobson, Head of Enterprise Customer Success – Amazon Business and Mary Hetherington, Director of UK Group Procurement – AXA to get the low down on the future of marketplaces, how they can benefit procurement professionals and what reservations are still held by the profession.

Whist digital marketplaces have evolved over time, and come and gone with varying success, the core functionality remains in that they are a central place where people gather to buy and sell goods and services.

“The digital marketplace isn’t a revolutionary concept.” explains Molly. “But it definitely has been more prevalent in our personal lives than our professional lives – e.g. Uber, Airbnb and Amazon.”

Having said that, “early innovators really did introduce a concept in procurement that still underpins the business marketplaces of today. These are capabilities like electronic procurement, reverse auctions and buyer discovery.”

Molly outlines the three core components of any procurement marketplace:

  1. Breadth of choice

The  first core characteristic of a marketplace is having that “wide range of choice within a single interface, which is why we all like to use marketplaces within our personal lives. Within a marketplace like Amazon Business you can access 250 million products from toilet paper to precision test and measurement instruments, to professional medical supplies.”

2. Competition 

“Users of a marketplace get access to multiple sellers for the same offer. Each of these sellers is competing against one another to get your business and with this competition you can have reduced commitments to some of those long, inflexible contracts. We like to talk about a marketplace being dynamic in that sense.”

3. Transparency 

“In a marketplace you can have transparency of product and seller reviews and pricing and delivery options. You really get the capability to compare all of your options and make informed buying decisions.”

“In the procurement space, in particular, you have additional requirements with things like the ability to integrate with other procurement applications.”

Marketplaces and maverick spend

Mary recently began piloting a marketplace at AXA.

“In the short space of time that we’ve been [trialling a marketplace] it has really surprised me the depth of information that we can attain about who’s buying what, the types of goods and services we’re buying,  at a very low level which hasn’t always been that transparent in the past.

“This is really useful for a large organisation like mine where we’re supporting several different business units with very diverse sets of requirements and lots and lots of small purchases. It gives us the opportunity to consolidate information and identify rogue spend very quickly.”

Measuring marketplace success

AXA has been measuring the success of its marketplace with three metrics; customer satisfaction, billing and fulfilment and  management of information.

  1. Customer satisfaction

Customer satisfaction on the solutions and the process around Amazon Marketplace is one metric AXA have been using to measure success.

“We all know that Amazon is the go to place for purchases. We use it in our private lives and people like that experience so we want to try and give our business customers some of that experience and flexibility when dealing with business purchases.”

2. Billing and fulfilment

Making sure that billing and fulfilment of the goods is effective, [that it] interfaces neatly with our purchase to pay solutions  [and] that we get the granularity we want on our invoicing.”

3.  Great management of information

It’s important to ensure procurement leaders can make well informed decisions about their future spend and future requirements.

“It can take some work to get [a marketplace] off the ground, [fitting into] your strategy [to a point where  multifunctional leaders can buy into it.”

Marketplace adoption

So what’s holding procurement teams back when it comes to adopting marketplaces. Mary Hetherington, Director of UK Group Procurement – AXA believes part of the challenge is procurement’s need to achieve a healthy balance between enabling the business and applying controls.

“We need to show flexibility but also proportionality when we’re looking at different sizes of purchasing,” she argues.

“The challenge with a marketplace is ensuring we determine the appropriate level of control that gives that flexibility to the business but doesn’t compromise any of our existing  preferred supplier  arrangement or bypass certain checkpoints of governance as a finical services organisation that we need to carry out.

“The key here is pitching it at the right level to ensure both the procurement team and the business get the solution they want.”

Are marketplaces the future of procurement? What are the pros and cons? We discuss in new Procurious webinar. which goes live on 13th November.  Sign up now (it’s free!)

Going To Market(place): The Future of Procurement

Are marketplaces the future of procurement? What are the pros and cons? We discuss in new Procurious webinar. 

In the late 1990s and early 2000s, B2B e-marketplaces were hyped up as the next big thing. For a while it seemed these were going to transform the lives of supply chain and procurement professionals forever. But they never quite took off perhaps because they were too far ahead of the technology and change-management requirements of the time. Indeed, most of the public and consortia marketplaces failed and of the 1,300 that were launched, fewer than 50 exist today.

Fast forward 20 years and, as consumers, we’re all enjoying, and heavily relying upon, the benefits of consumer companies with marketplace models such as Uber, Airbnb and Amazon.com. And whilst the B2B marketplace model might not be expanding with such speed, it is being applied to more diverse industries and with more success than previous models.

If you’re struggling to get a hold on your organisation’s maverick spending, concerned about disruption and risk mitigation within your supply chain or in serious need of a larger supplier pool, a marketplace might just be the answer to your prayers!

In our latest webinar, sponsored by Amazon Business, we explore the evolution of procurement marketplaces and their prevelance in organisations today, the pros and cons of using a marketplace and what the future holds for procurement if this trend continues.

Who is speaking on the webinar?

Molly Dobson, Head of Amazon Business Accounts – Amazon Business 

Molly Dobson is the Head of Enterprise Customer Success for Amazon Business UK. Prior to her role with Amazon Business, she was Head of Buying for European Business, Industrial, and Scientific Supplies and Category Leader for Amazon’s Luggage and Travel business. Molly has her MBA from London Business School and has also worked for Marks & Spencer, Coca-Cola, and Gap Inc.

Mary Hetherington, Director of UK Group Procurement – AXA

Mary Hetherington is the Group Procurement Director for AXA UK.  Mary has worked in the Insurance Industry for over 30 years managing a combination of Finance and Procurement functions. She has led several large multi-company third party programmes focusing on outsourcing, divestment and acquisition activity and GDPR. As part of a broader initiative to bring more agility to Procurement processes, Mary is currently focused on the Implementation of Coupa and an effective purchase to pay strategy.

What will be discussed in the webinar?

  • How can marketplaces help CPOs and their teams control maverick spend?
  • Are B2B marketplaces the future of procurement?
  • How can procurement teams incorporate marketplaces into their business strategy?
  • Why are some procurement professionals reluctant to adopt marketplaces?
  • The evolution of marketplaces and their prevalence in society today

How do I register for the webinar?

Registering for Going to Market (place): The Future of Procurement couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a email with a link to the webinar platform in the run up to the event.

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still enroll to access the webinar. We’ll send you a email with a link to the webinar platform in the run up to the event.

When is it taking place?

The webinar takes place on 13th November at 11am GMT. Sign up or log in here and we’ll be in touch ahead of the event to provide details on how to join the webinar live.

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question during the webinar?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Going to Market (Place) : The Future of Procurement goes live on 13th November. Sign up now. 

Procurement’s Missing Puzzle Piece

How can the missing puzzle piece make it easier for procurement teams to operate sustainably, improve supply chain transparency and eliminate corruption?

As procurement professionals we’re always talking about how leveraging innovative technology can add value to our organisations.

But less frequently addressed is how technology can make it easier for procurement teams to operate sustainably, improve supply chain transparency and eliminate corruption. 

In our latest Procure with Purpose webinar we’ll be exploring how the latest and greatest in technology innovations can not only help procurement pros deliver business value but also drive and enable purpose-led practice.

Join us on October 10th when we’ll discuss the tech that’s helping procurement  teams to collaborate with their suppliers and  improve transparency; how to communicate the importance of using tech to improve purpose-led procurement and why businesses must integrate tech-led purpose-driven practice into all of their decision making.

How do I register for the webinar?

Registering for The Missing Puzzle Piece: How Technology Can Empower You To Procure With Purpose couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a email with a link to the webinar platform in the run up to the event.

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still enroll to access the webinar. We’ll send you a email with a link to the webinar platform in the run up to the event.

When is it taking place?

The webinar takes place on 10th October at 10am EDT/ 3pm BST. Sign up or log in via the form above and we’ll be in touch ahead of the event to provide details on how to join the webinar live.

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

What is the Procure with Purpose community?

Procure with Purpose is a community for procurement pros who want to deliver value beyond cost savings and efficiencies – shining a light on the biggest issues from Modern Slavery to Environmental Sustainability – and on you, our members, who are already driving exponential change.

Webinar Speakers

Oliver Campbell, Director Procurement & Packaging Engineering

Oliver is a Director of Procurement & Packaging Engineering at Dell Technologies.  He has become one of the most influential thought leaders in the packaging industry by combining innovation and supply chain best practices.  Under his leadership, Dell introduced industry changing materials such as bamboo, mushroom, and molded paper pulp for more environmentally healthier packaging.

Most recently, Dell launched Ocean Plastic packaging with the aim of creating an industry response to tackle the task of the ocean plastic crisis.  Through founding NextWave, a cross-industry consortium of like-minded companies, Dell is creating a commercially viable, and scalable, supply chain that is focused on keeping plastics out of the ocean and in the circular economy.

Oliver’s accomplishments have been highlighted for their business and social influence by Fortune in their 2017 Change the World Companies, and by LinkedIn in their 2017 Top Companies to Work For.  Additionally, the 2018 Consumer Electronics Show recognized his pioneering work in Ocean Plastic with a Best of Innovation Award.  Mr. Campbell holds Bachelor and Master Engineering degrees from Cornell University and an MBA from The University of Texas.  In his free time, you can find him training for his next triathlon.

Justin Sadler Smith, Head of United Kingdom & Ireland, Ariba Cloud Procurement at SAP Ariba

Justin Sadler-Smith is head of SAP Ariba UK and Ireland, procurement and supply chain thought leader, and cognitive procurement ambassador. He is one of a growing number of procurement leaders around the world who helps procurement and supply-chain teams ensure that fair labor practices are in play across their global supply chains by harnessing innovative technology and increasing competitive advantage

Padmini Ranganathan, Global Vice President – SAP Ariba

Padmini Ranganathan is Vice President, Products and Innovation for Supplier Risk, Compliance and Sustainability solutions for SAP Ariba.  In this role, she is responsible for product strategy and engineering and leads a team of experts focused on delivering solutions that enable risk-aware, sustainable and ethical supply chains.

Prior to SAP Ariba, Padmini led the Analytics for Industries solutions marketing team at SAP which brought to market the first analytical applications and content for “art of the possible”  industry and line of business application scenarios. Before joining SAP, Padmini worked at Oracle, where she was part of the procurement product management team that delivered the first web-based, self-service applications for procurement and a technical consultant in the areas of order management, inventory & distribution, procurement and manufacturing.

Padmini is a passionate advocate for bringing technology to business users that simplifies and enriches their daily work and decision making. And as the Products & Innovation lead for SAP Ariba’s Procurement with Purpose initiatives, she is dedicated to helping businesses balance their costs with conscience and make an impact on the larger world.

Padmini has a post-graduate diploma in computer science from UC Berkeley, California, and a bachelor’s degree in commerce with a major in Cost & Management Accounting from Bangalore University, India.

Sign up for The Missing Puzzle Piece: How Technology Can Empower You To Procure With Purpose ahead of 10th October. 

Blockchain: The Technology, the Myth, the… Legend?

We’re told Blockchain is a huge game changer, that it’s the biggest innovation since the internet. But we’re also told it’s overhyped, it’s no big deal and that it has some serious limitations. So…what’s the truth? “Depending on who you ask, blockchains are either the most important technological innovation since the internet or a solution looking for a problem.” These are the opening words to a recent Wired article, entitled: The Guide to Blockchain.

And they certainly resonate with procurement professionals across the globe.

We’re told Blockchain is a huge game changer, that it’s the biggest innovation since the internet; it’s unhackable, it’s pervasive, it’s unparalleled and ultimately…it’s coming to the mainstream imminently.

But on the other hand, we’re told that Blockchain is overhyped, it’s no big deal, it has some serious limitations and, whilst it might be a pretty cool piece of technology, it’s certainly not the procurement disruptor that it’s hailed to be…

It’s no surprise that when it comes to Blockchain procurement pros don’t know who to believe when to expect its takeover or how to prepare.

So we’ve enlisted the help of some blockchain experts to give you the truth, the whole truth and nothing but the truth.

On 7th August,  Procurious presents: Blockchain: The Technology, the Myth, the… Legend?

Blockchain: The Technology, the Myth, the… Legend?

We’ll be discussing: 

  • How will Blockchain impact procurement?
  • What are some of the most common misconceptions about Blockchain?
  • How is Blockchain commonly being used in businesses today?
  • How can blockchain help procurement pros to manage their organisation’s contingent labour force?
  • What are the flaws at the heart of blockchain? Is it over-hyped?

Webinar Speakers

Vishnu P Tadepalli, Global Program Manager – Procurement Blockchain Lead – IBM Procurement Services
Vishnu is a highly motivated design thinker and is a digital procurement / supply chain enthusiast. In his current role Vishnu Tadepalli is the Global Program Manager / Lead for procurement blockchain solutions at IBM Procurement Services (IPS) , program managing the blockchain procurement transformation for both IBM global procurement and its procurement services clients. In his earlier role at IBM , Vishnu product managed Procurement Cognitive solutions and earlier worked as a sourcing consultant for multiple Fortune 200 companies. In addition to IBM, Vishnu worked with Unilever , AGCO and Suzuki Motor corporation in supply chain transformation and category manager roles.  His experience spans end to end global supply chain, including both direct and indirect procurement.
Vishnu has an MBA in Strategy & Supply chain from Uni of Wisconsin, Madison and is currently pursuing second Master’s in  Artificial Intelligence. He is a member of Government Blockchain Association(GBA) and Council of Supply Chain Management Professionals (CSCMP).  An active Linkedlner, Vishnu likes to spend his free time social volunteering and mentoring.
Linkedln : linkedin.com/in/vishnutadepalli
Twitter Handle : @vishnu65886588 

Paul Sidhu, Blockchain Practice Lead – IBM

Paul is a senior leader with over 25 years experience delivering business transformation in large and complex business environments. A natural strategy and innovation practitioner, Paul works with business leaders to articulate the benefits of process optimisation, digital transformation and new operating models that impact upon their business and to present them with options and strategic recommendations in a way they both understand and feel passionately about.

Paul leads the IBM Global Business Services Blockchain Practice in Australia. His cross-industry background and working with clients in multi-discipline business functions enables a deep understanding for the needs of diverse stakeholders and the ability to solve business challenges by incorporating new solution offerings built with Blockchain.

Jack Shaw,  Co-Founder and Executive Director of the American Blockchain Council

Jack  is a leading expert on the strategic business implications of Blockchain technology who has spoken and consulted on Blockchain around the world.

He is a world renowned Keynote Speaker. He was recently voted one of the World’s Top 25 Professional Speakers by over 27,000 meetings planners, executives and conference attendees – the only Technology speaker to be accorded this recognition.

Jack has been a Technology Futurist for over 30 years – helping others to understand the impact of emerging technologies. In addition to Blockchain, he is widely recognised for his expertise in such breakthrough business technologies as:

  •   Artificial Intelligence,
  •   Internet of Things, and
  •   3D PrintingHe has advised such Fortune 500 Companies GE, Coca Cola, Johnson & Johnson, IBM, Oracle, and SAP as well as hundreds of small to mid-sized businesses.A charismatic speaker, he’s delivered more than 1000 keynote speeches and executive presentations in 23 countries and every U.S. state. Jack graduated from Yale with a degree in Business Administration and has an MBA from Kellogg in Finance and Marketing.

AmericanBlockchainCouncil.org 

How do I register for the webinar?

Registering for our webinar couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a confirmation email with a link to the webinar platform and a handy reminder one hour before we go live!

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still register to access the webinar via this platform. We’ll send you a confirmation email with a link to the webinar platform and a handy reminder one hour before we go live!

When is it taking place?

The webinar will take place at 9am EDT/ 2PM BST on 7th August 2018

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’re listening live, our speakers would love to hear your questions and we’d love for you to pick their brains . Questions can be submitted throughout the live stream via the webinar platform.

If you think of a brilliant question after the event, feel free to submit your question via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Blockchain: The Technology, the Myth, the… Legend? goes live on 7th August at 9am EDT/ 2pm BST. Sign up here.  

Don’t Go Chasing Procurement Unicorns

Trying to build a team of procurement unicorns? You might just want to re-think your strategy…

What makes a procurement unicorn?

They’ve got the grades, the qualifications and years of relevant experience. They tick off every core procurement skill in the book and they’ve worked for some big-name companies.

In short; on paper, they’re perfect.

If you’re self-proclaimed unicorn hunter, you’re probably hoping to fill your entire procurement team with a herd of these mythical creatures. Because you think that’s what’s best for your business…

And that’s where you’d be very wrong. Because in today’s world, Unicorn = Uniform!

With this narrow outlook on your recruitment processes, you run the risk of missing out on extraordinary talents.

It’s impossible to know the unique skills, experience and perspective that a potential hire can bring to your team if you don’t open your mind to their many differences and diversities.

In our upcoming webinar Don’t Go Chasing Unicorns we’ll be celebrating individuality. Join us on 18th July as we explore how organisations can better accommodate people  who are differently abled; whether it’s those with physical disabilities or people who are neuro-diverse.

We’ll be discussing:

  • The importance and benefits of recruiting and retaining differently-abled people to your teams
  • Why it is such terrible idea to set your sights on procurement unicorns!
  • How  procurement pros can help to build truly diverse teams and foster a workplace environment that is inclusive to everyone?
  • How are some of the biggest organisations making the workplace inclusive and accessible for everyone?

Who is speaking on the webinar?

Tania Seary, Founder – Procurious

A true procurement entrepreneur, Tania is the Founding Chairman of Procurious, The Faculty and The Source. Throughout her career, Tania has been wholly committed to raising the profile of the procurement profession and connecting its leaders.

After finishing her MBA at Pennsylvania State University, Tania became one of Alcoa’s first global commodity managers.

In 2016, Tania was recognised by IBM as a #NewWaytoEngage Futurist and named “Influencer of the Year” by Supply Chain Dive. She hosts regular procurement webinars, and presents at high-profile events around the world.

Darren Swift

In 1991 Swifty was injured by a terrorist attack that resulted in him loosing both his legs above the knee. During his extensive rehab he made a decision to not let his injury affect his life or career going forward.

Since then Swifty has gone on to achieve a huge amount including becoming the first ever double above knee amputee solo skydiver and snowboarder. Swifty’s unique and inspiring story demonstrates the need for employers to be open minded when hiring as without this outlook they could miss out on an extraordinary talent!

Timo Worrall, Senior Category Manager, Facilities Management – Johnson & Johnson

Timo is responsible for the procurement of Facility Services across J&J’s global portfolio, including leading recent initiatives in EMEA and APAC. He is a key part of the team that has implemented the ‘Social Impact through Procurement’ initiative through the J&J business in the UK, including driving the introduction of Social Enterprises into the facilities supply base. It is this work with social enterprises that will help J&J reach its target of a £15 million of social value spend by 2020.

Timo’s work includes contracting a 3 per cent social value target into two regional FM contracts, that will deliver £3 Million of social value across Europe and Asia. Timo believes passionately about the impact that big business can have on impacting the lives of those disadvantaged in our society. He lives in Woking, Surrey, with his wife and two children.

Julie Gerdeman, General Manager, SAP Ariba

Julie Gerdeman is GM Payments & Financing at SAP Ariba. In this role, she is responsible for all aspects of the company’s strategy and execution to transform global B2B payments.Prior to this role, Ms. Gerdeman led the SAP Ariba Digital Transformation Organisation. This team of 100+ advisors lead SAP Ariba’s delivery of customer value: from identification, to enablement through realisation.

Before joining SAP Ariba, she held various leadership positions in sales, customer success and marketing at J.P. Morgan Chase and American Express.Ms. Gerdeman holds a B.A. from Dartmouth College and lives with her family in the Lehigh Valley, Pennsylvania. She is a member of the board of directors for Apparent Financing, an SAP.io funded start-up that leverages data from the Ariba Network to facilitate financing to small business suppliers. Ms. Gerdeman is also the global executive sponsor for Diversity & Inclusion at SAP Ariba and speaks and blogs frequently on this topic.

How do I register for the webinar?

Registering for Don’t Go Chasing Unicorns couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a email with a link to the webinar platform in the run up to the event.

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still enroll to access the webinar. We’ll send you a email with a link to the webinar platform in the run up to the event.

When is it taking place?

The webinar will take place at 10am EDT/ 3pm BST on 18th July 2018

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Our webinar,  Don’t Go Chasing Unicorns, takes place at 10am EDT/ 3pm BST on 18th July 2018. Register your attendance for FREE here. 

How to Prepare Your Organisation for the Cognitive Revolution

Everyone procurement team is talking about AI, cognitive technology and machine learning. But for these technologies to work at their best, your business needs to be prepared… 

Image: Zapp2Photo / Shutterstock

There is a lot of talk these days about Artificial Intelligence, Cognitive Sourcing, Machine Learning, and data-driven procurement.

Almost every major procurement organisation in the world talks about how their organisation uses these tools to make decisions.

The direction of procurement is almost certainly towards data-driven decision-making.  This is a reality we all need to embrace.

I certainly subscribe to the notion that the best procurement decisions come from fact-based data-driven strategies and I firmly believe that over time, cognitive tools and technologies will become better and more effective than they are Today.

The truth is that we are not there yet.

As someone who’s industry is in the cross-hairs of cognitive technologies, I have been exposed to more than a few examples of how this technology works.

The category knowledge that these tools will draw from to generate their insights currently resides with guys and gals like me.  As such, we (the subject matter experts and category leaders) of the procurement space hold a special and specific set of keys that unlock these technologies.  It is with that focus that I would like to proceed.

In order for these technologies to work best there are certain fundamental elements that must be right in order for the tool to generate the best insights.

Good Data

Well organised and structured data is an essential foundation for cognitive technologies.

When it comes to any form of data analytics, the old adage “garbage in, garbage out” still holds .  Unfortunately, the vast majority of organisations simply have poor data.

Before you can point any cognitive tools at your data set, the data needs to be scrubbed and normalised.  This is still done manually by a team of people.  I’m sure one day this will be 100 per cent automated and perhaps technology will find a way to avoid these errors in the first place.  The fact is that whenever we receive data Today, it is highly flawed and requires weeks of work to make it usable.

Here is a good primer on data collections.

Be sure you allow sufficient time for your data to be cleansed before you deploy your cognitive tools.

Define your Benchmarks

The greatest value that AI and cognitive will bring is being able to benchmark your organisation in ways never before possible.

In a recent article I wrote on how to use bench-marking to develop cost estimates, but cost estimating is not the extent of how you can use bench-marking with AI.

Consider the value of bench-marking your organization against a competitor’s current performance.  Cognitive tools allow you to bring in publicly available information in real time.

Imagine that you are an electronics manufacturer and your closest rival releases their financial report.  Cognitive tools can seek out these reports and extract data from them to benchmark against your performance.  You can also combine cognitive tools with web crawlers that seek out competitor’s pricing information.  Without cognitive tools, this kind of information would require weeks or months of manually collecting data.  Cognitive tools allow this kind of analysis to be done instantly.

To take advantage of AI, take time to consider all the different ways you can measure your performance and see if you can come up with a few you never thought possible before.

Market Indices

All goods and services are affected by market forces. Staying on top of market indices is important for making strategy decisions.

An effective cognitive data strategy uses data from market indices.  Market Indices will enrich your own data and allow you to forecast into the future.  Adding this level of depth to your cognitive platform will reveal the actionable insights that cognitive data promises.

The Bureau of Labor Statistics is great resource for all kinds of indices.  If you are in construction, there are a number of private organizations that publish various indices to help forecast the future.  Look at the AIA, Dodge, and AGCjust to name a few.

Add market indices to your data set to enrich your analytics and strategise with forecasting.

Category Expertise

Cognitive technologies offer beautiful data outputs rich in data and content, on their own these outputs are just eye-candy.  The interpretation of that data and content must be made by skilled experienced subject matter experts.

Eventually we may get to the point where computers can read the data and a clear strategy will be automatically spit-out for anyone to act on.  Even then, how you act on the data will require some expertise.  Until such time, you must have your cognitive data interpreted by a human with category expertise.

It’s too easy for data to be misinterpreted and for an organisation to run-off in the wrong direction.  Even the most advanced Artificial Intelligence we have Today is unable to interpret the various human factors that go into strategy making and for that reason, Subject Matter Experts (SME’s) are still required.

Be sure you know that the person who will receive and interpret your data has the skills needed to execute a sound strategy.  After all the time and energy you invest in cognitive tools, you need to be sure your direction is sound.

Closing

The future of AI and cognitive is bright.  We are heading in a great new direction where information will rule.  Today there are a few trail-blazers paving the way for us all.  Those using these new technologies Today are sure to be better prepared Tomorrow as they find new and creative ways of using data to guide their business decisions.


This article was originally published on Luis Gile’s website. Check out more of his content here. 

Sign up for next week’s webinar: Clean Up Your Act! Category Management AI-Style. 

Can Category Management Clean Up Its Act, AI- Style?!

In a post-AI world, the cards are up in the air and everything is up for grabs. Can category management help the procurement profession to scrub-up and embrace these changes?

Our webinar,  Clean Up Your Act! Category Management AI-Style is available on Procurious now. Listen here

How are large corporations managing and recruiting their workforce in the age of the gig economy?

Can cognitive tech help marketers connect the dots and better understand their customers?

Will we require architects in the future to design our buildings, or can we ask bots do that for us instead?

AI and cognitive technology will impact all corners of the business whether it’s construction, labour or marketing. For procurement’s category managers, technological advancement provides the chance to reinvigorate the profession and develop innovative ways of working.

But there is also a legitimate fear of the major disruption AI brings. Which services and industries will we lose entirely? How many roles will be made redundant?

The cards are up in the air and procurement prosperity is there for the taking. Can category managers help the profession to scrub up and seize this opportunity?

This month, we’ve enlisted the help of three category management experts to advise you on how to clean up your act and get the most out of AI!

Last month we hosted a webinar – Clean Up Your Act! Category Management AI-Style – in partnership with IBM.

With a focus on construction, labour and marketing, we discussed:

  • What common problems have category managers faced in old-world procurement, pre-AI?
  • How is AI impacting these categories; what sort of disruption can procurement professionals expect?
  • How can AI help procurement professionals in construction design, build and maintain their projects?
  • How can AI assist procurement professionals working in labour to attract, recruit and retain talent?
  • How can AI help procurement professionals working in marketing to strategise, create and manage optimal marketing campaigns?

Who is speaking on the webinar?

  • Tania Seary, Founder – Procurious
  • Luis Dario Gile, Global Category Leader (Design Construction and Real Estate) – IBM

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Our webinar,  Clean Up Your Act! Category Management AI-Style is available on Procurious now. Listen here

6 Ways Procurement Pros Can Dominate Their Data Strategy

Building a nimble process, speaking the right language and gathering your data from the right sources will have you nailing a flawless data strategy in no time!

When most procurement professionals think about data they imagine a darkened back-office room and a huddled group of silently-working number crunchers.

But it’s data that gives your organisation’s senior leaders the most important insights, helping them to win new business.

Data can help procurement climb up the value chain and earn you a seat at the table.

If could only change the time we spend gathering data and the time spent actually using it  from a 80/20 split to a 20/80 split, its potential is limitless.

And this is a mistake procurement makes too often.

Ahead of today’s webinar Basic Instinct: Are You a Data Hunter or Gatherer, we’ve outlined some top advice from data experts; Marco Romano, Procurement Chief Analytics Officer, Global Procurement, Transformation Technology – IBM and Edward D. O’Donnell, Chief Data Officer for Procurement – IBM, on how to dominate your data!

1.Build a nimble process

Ed has, in his own words, enjoyed ten years working in transformation but admits he has made plenty of mistakes along the way! His advice? “If you’re going to fail. Fail early.”

As he points out, making mistakes is not the problem, it’s the way it’s done that makes all the difference, “The most significant challenge [for procurement pros] is managing data of all size and scale.”

In the past, IBM have approached this challenge with the old-school  waterfall methodology; the development team is engaged and a plan is might be made and executed with care over the course of a year.

“It’s smarter if you can do it in more agile chunks,” explains Ed.  “The drops are not quarterly or annually for the big bang but rather maybe in weeks we’ll run sprints.”

“This allows smaller, more manageable content.” Which, of course makes a lot of sense. Why spend a whole load of money to wait for the last two months of the year to realise the value?  “Can’t we build a process thats more more iterative, more nimble, more flexible more agile?”

“Then, of course, if the client doesn’t like it we can get immediate feedback and correct it straight away.”

2. Use your time more wisely

Procurement pros have, for too long, been gathering data from too many sources because that’s what they think they should be doing. It’s time consuming and, often, it’s also futile.

“So much time spent is spent gathering data. Procurement pros need to start at the end and work backwards. First and foremost you need to ask what’s the outcome or insight you’re trying to achieve and what are the business behaviours you’re trying to change.”

Develop a joint understanding of business requirements. From that you work backwards to determine three things:

1. What data you need

2. How you acquire  it

3. What enrichment that data needs

In doing this “you’re not only gathering data that’s fit for purpose, you’re also considering business process that drives that data and building improvements into this process to ensure data quality and data consistency.”

“Of course it doesn’t stop there our role is to automate that takes gathering filtering, sorting data away from practitioners

Ideally we don’t want our practitioners spending time analysing or shipping raw data rather looking at results or process insights. but spending time

So what drives this behaviour off trying to get all sorts of data?

It’s driven by wrong metrics or misunderstanding of those metrics.

“You absolutely have to make sure you measure what really matters, such that you drive the right behaviours in data acquisition and move away from concept where people are just acquiring a whole lot of data and not able to put it to good use or understand why they’re acquiring in the first place.”

3. Gather your data from the right sources

IBM source their data from a wide variety of sources.

“We look at RFX data, procurement and customer contracts, internal client demand and pipeline data,” explains Marco.  “Internally it’s a very broad base of data which includes procurement and our clients.”

They use “market intelligence from MI providers as well as MI from structured and unstructured public data sources, social media and various other sources.”

“The data we get from suppliers  is really important and includes things like machine failure rates, product life-cycles [and ]configuration options.”

“It’s a broad base but it’s not about gathering all of that data but rather targeted to achieve a specific objective.”

Do IBM have a particularly ‘hot’ data source? “Not so much the hot data source” says Ed. “It’s the way you use that data!”

“assembling the data in a coherent way where the buyers can have it at their fingertips – assembling quickly, linking the data and then presenting it to the buyer in a new user experience is where the power comes from.”

4. Listen to your client

“Listen to the voice of the client” says Marco.

“Start with an understanding of what you’re trying to solve, really understand what the practitioners needs are and work backwards from there to figure out what you really need”

Set up engagement meetings, engage with the client regularly and continuously share and showcase your work with your internal team.

5. Focus on data quality

“Focus on data quality and ensure that your procurement processes enable the acquisition and enrichment of good quality data,” says Marco

“It sounds very obvious but it is so often overlooked and it causes tremendous frustration in the system.”

6. Speak the same language

Spending more time in front of our customers or clients and less time behind closed doors, simply gathering and analysing data, is crucial.

When procurement teams start a program it’s important that everyone is on the same page; speaking the same language and communicating regularly with all the key stakeholders.

“One of the things historically that the procurement practitioner hasn’t done so well is being completely transparent with the data,” explains Ed.

It’s important to present it in a way that “it’s clear and simple to understand [and so] that the outcomes are obvious. The best chart is one you don’t have to try to understand, where the messages are clear.”

If you’re referring to units per hour, what do you mean by units?

If you use the term FTE, does everyone know what exactly that represents? Is it a 40 hour week at x cost or a 35 hour week at y cost?

Our webinar,  Basic Instinct: Are You a Data Hunter or Gatherer takes place at 1pm BST TODAY . Register your attendance for FREE here. 

6 Reasons It Pays To Care In Procurement

“Do good, feel good” or “Do good, and save lots of money”? Whichever  you find the more enticing, we can certainly conclude that it pays to care in procurement!

Roger Clark ARPS/Shutterstock.com

Pat McCarthy, SVP and GM, SAP Ariba North America, is one of the driving forces behind SAP Ariba’s Business with Purpose initiative. Over time, he’s noticed how business attitudes have shifted as corporations become more socially aware. “For companies in the past it was pretty simple, the charter was pretty simple – increase profits for their shareholders or their owners. But today we find that many companies are taking on a higher mission to make the world a better place to live and work and to run their businesses with a higher purpose.

Of course, you don’t need Pat to tell you that sourcing from minority owned businesses, eradicating slave labour or watching your carbon foot print is a good thing. No one would try to contest that. But aside from the “do good, feel good” ideology, is Business with Purpose actually good for your business, or is it going to cause your procurement team a whole lot more – in money and stress!?

“We know that purpose driven companies out perform the market by almost 5 per cent” says Pat. “In other words they can do good and do well. Procurement has a unique opportunity to lead the way.”

And so it would seem that there’s a strong business case far beyond the moral imperative to embrace a higher cause in your procurement team.

Peter Holbrook, CEO Social Enterprise UK, gives six reasons why this is the case.

1. It’s cost effective

“We’ve undertaken research with PwC to look at what social value means for people within procurement departments” begins Peter. “We see that in the majority of cases when you take a social value or an environmental lens to procurement your new suppliers coming in to support your business are in most cases creating value add but are actually cheaper. [You will find] suppliers are much more cost efficient as a result of being more socially and environmentally imaginative.”

2. It brings in top talent

Attitudes of the millennial workforce is a significant factor for organisations to consider in today’s world if they want to recruit and retain the best talent. Employees, for the most part, want to feel as though they are working for companies who care for more than simply profit, who are making the right decisions for the world around them as well as the right decisions for the business.  As Peter explains “the good work your business does can give you the cutting edge or differentiation to bring in the very best talent.  When [organisations] take these approaches and staff believe they are authentic they are more likely to stay in the business in the long term.”

3. It makes suppliers more responsive

The research Social Enterprise UK carried out with PwC revealed that in two thirds of cases  suppliers were more responsive in purpose led companies. This, Peter explains, is due to the relationships created that meant suppliers “were more responsive in terms of responding to the changing needs of companies buying from them.”

4. It makes your organisation more innovative

Purpose driven companies, according to Social Enterprise UK’s research carried out with PwC,  “brought on new products and services to market, which is the traditional way we assess innovation.”

5. It keeps you ahead of the game

“We all recognise that businesses have to change and adapt to help meet the challenges that we all face. Using supply chains as a way to do this is a way of really being cutting edge, staying ahead of the pack and building brand differentiation that all companies increasingly need to be able to define themselves.”

6. It gets your customers on board

“We have researched customer loyalty” says Peter, “And whether it’s members of the public or in B2B relationships – [people] are more likely to remain with companies that are also creating a social benefit.

Peter has some reassuring advice for anyone feeling overwhelmed by the challenge of becoming a purpose-led procurement team. “The risk is that we overcomplicate it. There’s something to be said for proportionality. Start small and start easy- culturally within a company you’ll get much greater buy in if it feels as if its accessible and something that can be achieved relatively simply rather than an additional burden you’re putting on everybody.

“It’s about starting a journey and taking small steps to evolve your methodology and your approach and being fairly honest about where you are succeeding and where some of the challenges exist. No one is assuming and no one should assume that when a company starts embarking on this route that they will come to the ultimate solution within weeks months or even a couple of years!”

Sign up for #FeeltheLove, the first Procurious and SAP Ariba Procure with Purpose webinar, which takes place later today  at 10am EST/ 3PM GMT.