Sourcing and Categories Content

Neighborly procurement is the answer to individual efforts for diversity and inclusion

If you take a look around the US today, you see a lot of division, hurt and hardship. It’s no secret that COVID-19 has placed hardship on all of us — from physical to emotional to economic harm. Add in the civil unrest and division from last summer’s protests in the States and it’s enough to leave one feeling powerless to make change.

A few months ago, Spend Matters’ Founder Jason Busch collaborated with Daryl Hammett, a leader in supplier management, and proposed the idea of how procurement can help empower diverse suppliers and small businesses. They specifically talked about the role leadership plays in promoting diversity efforts through supplier inclusion.

But it’s not enough to rely solely on businesses and procurement to do their part. It’s about how individuals can make a difference too.

In a new follow-up paper, Busch and Hammett advocate that real change can come from neighborly procurement — which focuses on the tangible steps you can take as an individual to help promote economic growth and well-being for your neighbors.

SolutionMap Fall 2020 new vendors (Part 3) — Symfact, AvidXchange, ProcurePort, SourceDay, graphiteConnect

On Oct. 1, Spend Matters launched the Fall 2020 update of its free-to-use SolutionMap, which evaluates procurement technology solutions on their technical capabilities and how customers rate them.

Twelve new vendors participated in the latest release, which has grown to evaluate 77 providers. Read our SolutionMap Fall 2020 launch post for more details, like how to use the benchmark tool for tech selection or how to get your solution into the mix.

We’re excited to introduce you to a few of the vendors who entered SolutionMap this time around:

  • Symfact
  • AvidXchange
  • ProcurePort
  • SourceDay
  • graphiteConnect

In our bios of the recommended new vendors, we will detail in which of our 13 technology categories they compete and where they rank (see the chart below), share some our analyst research written for subscribers to our PRO content, give feedback from our subscription SolutionMap Insider content called the Provider Scoring Summary reports (subscribers can use the summaries to compare vendors and their scores in more detail — see a sample summary). You’ll also hear from some vendors about being part of the SolutionMap benchmarking process.

Commodities Roundup: Tata Steel looks for buyers; Asia-Pacific nations ink massive RCEP trade deal; oil price gains

commodities

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets, including Tata Steel and its plans to spin off its European assets, a European steel survey and more.

MetalMiner, a sister site of ours, scours the landscape for what matters.

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Integrations for a truly connected technology ecosystem: A conversation with VNDLY’s Chief Technology Officer

As companies continue to adapt to the dramatic changes brought on by the global COVID-19 pandemic, one major shift sweeping the industry is a faster move toward creating technology ecosystems that increase the pace of digital transformation. Organizations that had long-term plans are speeding those up, and companies that were still undecided have chosen to act now.

These swift changes, in response to the unpredictable nature of today’s workforce needs, must be supported by technology that helps users effectively manage their extended workforces across their entire organizations. They may also require platforms that can share data with other systems, ensuring accuracy around all manner of contractor and traditional employee data.

When companies invest in large, sweeping platforms, like Workday, to manage company-wide departments and worker populations, they look for other platforms that integrate seamlessly and do not require engineering or maintenance provided by internal IT teams. Adopting those additional technologies that can integrate and become part of the ecosystem saves time and money, making the initial investment more valuable. For more insight into technology ecosystems and integrations, and specifically those between VNDLY and Workday, we talked with VNDLY’s Chief Technology Officer, Chuck Mobley.

Commodities Roundup: Metals gain steam; Brent crude price bounces back; up-and-down gold

commodities

Here’s a quick rundown of news and thoughts from particular commodity markets, including metals prices, the Brent crude price and gold's gains and losses.

MetalMiner, a sister site of ours, scours the landscape for what matters.

Sponsored Article

5 simple truths about category management

Category management may not be known as simple, but it doesn’t need to be complicated either. Whether you’re a procurement leader who has implemented category management or are thinking about it, here are five simple truths about category management.

Commodities Roundup: European growth forecasts; ‘green aluminum’; U.S. auto sales

commodities

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets, including European growth forecasts, the LME's proposed green aluminum contract and more. MetalMiner, a sister site of ours, scours the landscape for what matters.

Trax CEO: Transportation spend management is next technology sector to see a boom

To explore technology and transportation, we talked with Hamp Wall, the CEO of Trax Technologies, a transportation spend management firm that comes from a private equity merger of two family-owned businesses. Trax focuses on the technology that targets activities once a shipment is picked up from the shipper and delivered to the customer.

“Transportation spend management (TSM) is at the place that e-procurement of indirect goods was 20 years ago. We're at the birth of the industry,” Wall said. “It's where the consolidation of providers is just beginning. Private equity is just now entering into the space with a much bigger presence.”

SolutionMap Fall 2020 new vendors (Part 2) — Corcentric Payables (COR360), Uppler and Medius (Wax Digital)

On Oct. 1, Spend Matters launched the Fall 2020 update of its free-to-use SolutionMap, which evaluates procurement technology solutions on their technical capabilities and how customers rate them.

Twelve new vendors participated in the latest release, which has grown to evaluate 77 providers. Read our SolutionMap Fall 2020 launch post for more details, like how to use the benchmark tool for tech selection or how to get your solution into the mix.

We’re excited to introduce you to a few of the vendors who entered SolutionMap or joined a new category this time around:

  • Corcentric Payables (COR360)
  • Uppler
  • Medius (Wax Digital)

In our bios of the recommended new vendors, we will detail in which of our 13 technology categories they compete and where they rank (see the chart below), share some our analyst research written for subscribers to our PRO content, give feedback from our subscription SolutionMap Insider content called the Provider Scoring Summary reports (subscribers can use the summaries to compare vendors and their scores in more detail — see a sample summary). You’ll also hear from some vendors about being part of the SolutionMap benchmarking process.

Coupa acquires LLamasoft, beefing up supply chain planning data for its business spend management solutions

In its fourth acquisition this year, Coupa on Monday announced the acquisition of LLamasoft, a specialist in supply chain design and planning solutions that Coupa will leverage to expand the direct procurement capabilities it offers within its platform for business spend management (BSM). Coupa said it paid about $1.5 billion for LLamasoft. In a call with Spend Matters, they detailed the deal, and our analysts delved into what this means for the procurement technology market.

Commodities Roundup: Goldman Sachs is bullish on 2021 commodities narrative; Steel imports down; Why are aluminum cans scarce?

commodities

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets, including Goldman Sachs' bullish outlook on commodities and much more.

MetalMiner, a sister site of ours, scours the landscape for what matters.

3 tips to minimize COVID-19 disruption to services procurement with the support of an MSP

Spend Matters welcomes this guest post from Scott Brewer of Randstad Sourceright.

Since the COVID-19 outbreak began, its impact on organizations has been profound and far-reaching. From broad adoption of work-from-home practices to the acceleration of digital transformation, businesses have had to adapt to new circumstances across the board with varying degrees of success. Furthermore, the pandemic’s economic impact on supply chains, procured services disruptions and contract defaults has had a significant effect on procurement management. This has resulted in many companies struggling to effectively assess and respond to changes affecting their services procurement and statement of work (SOW) engagements.

So how can procurement leaders address the consequences of the COVID-19 crisis on services procurement and protect their company’s best interests? A number of organizations are turning to their managed services program (MSP) providers to address key areas of concern: