E-Sourcing ForumE-Sourcing Forum

Companies Watching Their Commercial Insurance Bid Live Online

2012-05-24T14:02:27Z

At long last, the ability to see inside the “black box” of commercial insurance purchasing has arrived! Like almost everything else, commercial insurance purchasing is going live online. Buyers are seeing the benefits of using technology to improve the cost and coverage terms for their companies. Sourcing technologies are enabling CFOs and other stakeholders to go to their ipad or mobile device and view the auctioning of their commercial insurance. The benefits just keep piling up because they get all … More →

10 Ways to Drive Procurement Influence Using Advanced Technology by Spend Matters: Part 2

2012-05-22T20:32:54Z

In Part 1, I covered Spend Matter’s first idea to enhance procurement’s value to the business. Click here to read Part 1. The second idea to deliver new value to the business is to connect sourcing activity to contracts- implement savings faster and manage compliance. “Contact management is one of these things in the past five years that’s hung outside of procurement,” Busch said. “But we are seeing a newfound focus to use contract management to drive implemented savings.” Procurement … More →

10 Ways to Drive Procurement Influence Using Advanced Technology by Spend Matters: Part 1

2012-05-18T18:56:03Z

Recently, Iasta sponsored a Webcast featuring Jason Busch from Spend Matters. Busch presented 10 ideas that go beyond basic sourcing to enhance procurement’s value to the business. By embracing new sourcing-related tools and services, teams can gain critical knowledge about spend to drive additional cost savings. The following post blogs will outline the 10 ways, outside of transactional related focus areas, that both Spend Matters and Iasta see delivering new value to organizations. The first idea Busch presented was to … More →

The Trouble with Visibility

2012-05-16T13:03:55Z

The quest for greater visibility drives procurement teams to implement new technologies and revamp existing processes. We look for spend visibility, supply base visibility, and visibility into the inventory planning process. Beyond visibility for its own sake, there are a number of initiatives procurement can’t start without having more information. We can’t plan the waves of a sourcing opportunity assessment or define governance guidelines for setting spend authorization limits. Even once we have gotten visibility into a company’s spend activity, … More →

The Do It Yourself RFP: Let the Buyer Beware

2012-05-16T12:58:15Z

Buyers of recruitment process outsourcing (RPO) services show a growing trend toward managing the request for proposal (RFP) and the associated service provider selection process internally rather than investing in a sourcing advisor, such as ISG, to oversee the process. I liken this to selling a house without the aid of a realtor – it can be done, but instead of saving money on the commission, the seller may take on unexpected costs in reaping the return on a significant … More →

10 Reasons to Contact your eSourcing Support Team Part 2

2012-05-07T18:15:58Z

In Part 1, I discussed 5 times when you should contact your eSourcing support lead for tactical advice. Click here to read Part 1. In other situations, you might simply need more strategic advice when planning or working in your eSourcing tool. Here are five situations when you should contact your eSourcing support team for strategic advice: 1. Structuring your event to optimally collect pricing. Collecting pricing should be both useful to you and simple for your suppliers, and you want … More →

10 Reasons to Contact your eSourcing Support Team: Part 1

2012-05-07T15:14:09Z

As a support team member for Iasta, I work closely with our clients for both strategic and tactical support. Below are five times you should contact your eSourcing support team for tactical advice: 1. You receive an error message that is preventing you or your suppliers from working on a project. Give your support team a call, and they will work with you to resolve the situation. Some errors are technical and require changing settings on your computer or network, … More →

TPI Index Shows Outsourcing Market Cooled in Q1

2012-05-04T14:38:59Z

On our last 1Q12 Global TPI Index conference call, we discussed noteworthy trends in the sourcing market during the first quarter. Our headlines revealed that: By both contract awards and total contract value (TCV), the global commercial outsourcing market dropped quarter-over-quarter and year-over-year. A weak quarter after two consecutive strong quarters is a familiar historical pattern. While mega deals nearly vanished, mega relationships held firm . . . the latter mainly consisting of restructurings. Restructuring TCV climbed over the same … More →

Risk Management – To Hedge or Not to Hedge (Part 3)

2012-05-02T19:26:52Z

In Part 2, I ended my blog post with: The basis of price risk management therefore lies in asking the following questions: What is the “right” level of price cover and how do we determine what this level should be (particularly if we do not enjoy market information advantage)? What are the cost/benefits of derivatives over inventories? What is the difference between hedging and trading? How can we ensure our corporate objectives are aligned to our price risk management program? … More →

Monthly Payback: Kelly Barner of Buyers Meeting Point Shares the Expression That Guides Her Career

2012-04-30T12:49:54Z

“Carpe diem” – or rather “seize the day” – is an expression that has guided Kelly Barner’s career, especially as she continues to grow Buyers Meeting Point, an online knowledge and professional development resource for supply management and procurement professionals. Kelly understands that there is always going to be an unexpected project, task or event added to her to-do list. This is why she believes there is no room in a successful person’s schedule for procrastination. “If there is ever … More →

Top 5 Things to Know About the Record-Setting Outsourcing Activity in 2011

2012-04-18T12:26:11Z

A record amount of outsourcing contracts were issued in 2011, and an increasingly diverse set of service providers shared in the bounty. The 2011 MomentumTM Market Trends & Insights series Annual Report took an in-depth look at what drove the record level of contract awards and found that emerging business needs and classic outsourcing drivers fueled the demand, which is expected to remain strong. Here are the Top Five findings from the new Annual Report: Record levels of outsourcing contract … More →

Upcoming Webcast: 10 Ways to Drive Procurement Value Using Advanced Technology

2012-04-23T20:31:10Z

Procurement professionals like you have indicated two main roadblocks hindering them from becoming a best in class procurement organization include: 41% a lack of culture that accepts procurement as strategic 38% a lack of technology to automate the strategic sourcing process Join us for a Webcast on May 2 at 11 AM EST, “10 Ways to Drive Procurement Influence Using Advanced Technology.” Jason Busch from Spend Matters and Joanna Martinez from Cushman & Wakefield will discuss tips on how you can … More →

The Not-So-Secret Ingredient to Delivering Seamless Services in a Multisourced Operating Model

2012-04-18T12:11:31Z

Most organizations assemble their business services from multiple service providers, whether internal or external. Delivering services seamlessly to the client businesses from these multiple providers is a significant challenge that many believe is inevitable with multi-sourced operating models. Effective service management is the key ingredient to the success of such models. Effective management becomes even more pivotal as organizations introduce cloud-related services, which require the business to accept industry-standard services and to control their consumption of utility-priced resource units. The … More →

Selling Procurement Influence and Value: Part 2

2012-04-16T14:27:04Z

In Part 1, I discussed the importance of procurement teams selling their value to the business and why procurement needs a strategically led approach. Click here to read Part 1. In Part 2, we will cover the challenges of integrating procurement in the organization. The Challenge of Integration Procurement will only succeed in delivering its full potential benefits if it is integrated effectively with the business. You cannot simply create a procurement function and hope for the best – the … More →

Selling Procurement Influence and Value: Part 1

2012-04-12T14:30:00Z

How well we sell procurement’s value to the business is key for its future success. Many heads of procurement still struggle for support and greater recognition whilst those who have succeeded in establishing strategic procurement, admit that it requires a constant concentrated effort to maintain a respected position within all aspects of the business. In both cases, successfully expanding scope and influence is dependent upon making the connection between procurement excellence and sustainable business growth and profitability. It is therefore … More →