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Five Quotes to Inspire Procurement Success

Posted by Kelly Deacon on Aug 25, 2016 8:30:00 AM

We love to help our clients come up with new ideas and ways to procure the items they need. To get there, sometimes it’s helpful to look to the musings of great minds for inspiration.

We’ve pulled together a few thought-provoking quotes that remind us of procurement and motivate us to reach our goals.

  1. "We cannot solve our problems with the same thinking we used when we created them."- Albert Einstein

Success in procurement no longer stems from simply cutting costs, managing supply, and periodically improving your processes. To really make an impact and thrive in the midst of external market pressures, procurement teams need to go deeper by capturing new revenue, driving high impact financial growth, and proving their role as a major competitive weapon for the organization.

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Topics: Motivational

Conference: Changing How You Approach Spend Control

Posted by Michelle Fombelle on Aug 19, 2016 8:15:00 AM

Each year we host executives and procurement pros for a day and a half event packed full of education and networking (so much networking). This year's event is a little different. It's still an intimate gathering of like minded people, but we've expanded the educational side to encompass all things spend control. Innovation '16 is now a partnership of PROACTIS and Intesource! 

Join us September 18-20 in the valley of the sun (A.K.A. Scottsdale, Arizona) at the Hotel Valley Ho. We have some great speakers and fun networking functions lined up.

This conference is all about you! Who wouldn't want to attend an event where the focus is on them? Our goal is to provide anyone who oversees, or is involved in, the procurement process with a meaningful educational experience while you make new friends (or as we call them in the business world - new contacts). 

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Topics: Intesource Events

Your Annual Event for Sourcing and Procurement Inspiration

Posted by Kelly Deacon on Aug 11, 2016 10:00:00 AM

Pack your bags and get ready for what attendees say is one of the best events they attend.

We know nobody likes attending conferences featuring sales pitch after sales pitch. That's why Innovation '16 is different - just world-class learning and networking.

Innovation '16 brings together finance, procurement, and executives to stimulate new ideas.

  • Leverage your spend control, sourcing and procurement solutions to achieve greater bottom-line value
  • Get inspired from other like-minded procurement and finance professionals
  • Collaborate and connect with peers and industry experts on best practices
Scottsdale in September 
Innovation '16 will be held September 18-20, 2016, in old town Scottsdale. Executives and practitioners should bring their teams to collaborate, learn, and grow. You'll hear from a distinguished group of speakers, including:

Dawn Tiura, CEO and President of Sourcing Industry Group (SIG), SIG University, and Outsource, has over 26 years of leadership experience, with the past 22 years' focused on the sourcing and outsourcing industry. In 2007, Dawn joined SIG as CEO, but has been active as a speaker and trusted adviser since 1999, bringing the latest developments in sourcing to SIG members. Don't miss this opportunity to hear Dawn talk on Crossing the Divide between the CFO and CPO

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Topics: Intesource Events

Leveraging Sourcing & Procurement's Forward Thinkers

Posted by Jason Heffelfinger on Aug 4, 2016 8:30:00 AM

It's common to run into a bit of resistance when trying something new. And it's no different with eSourcing. New process can be viewed by some stakeholders as an invasion or challenge into their specific areas of expertise.

The common body language seen in these interactions include suspicious looks and crossed arms. These buyers feel, rightly so, that they are the best at what they do. Oftentimes statements from buyers like the following come up during these initial conversations and confirm their apprehension:

“So how can you help me? “

“I already get the best price.”

“I can't get the same items; I'll have to compromise for a better price.”

“You'll make me award the business to a vendor other than my incumbent.”

“I'll have to pick the low quote provider.”

All valid concerns. And these are just a handful of the misconceptions that surround eSourcing.

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Topics: Motivational, e-Sourcing Strategy

Mission Impossible: Adding Capacity to Procurement without Expanding the Team

Posted by Kelly Deacon on Jul 28, 2016 8:15:00 AM

To say procurement teams today are busy is a large understatement. Facing high expectations from the c-suite, ambitious cost savings and innovation goals and the looming reality of potential supply disruptions and noncompliant suppliers, teams have a lot on their plates. As procurement’s scope of responsibility grows, it can be challenging for teams that stay the same in size to keep up with mile long to-do lists and simultaneously find the time to be a strategic partner for the business.

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Topics: Motivational, e-Sourcing Strategy

5 Reasons Innovation Best Practices in Spend Control Conference is Great for Procurement & Finance Professionals

Posted by Michelle Fombelle on Jul 21, 2016 8:30:00 AM

We hear it from Intesource customers all the time: Innovation is my favorite conference! (For the record, it’s my favorite as well.)  We actually plan Innovation with all procurement and finance people in mind, regardless of whether or not they use Intesource solutions, we focus on the education and don't sell you on our products. There’s many good reasons that Intesource customers return year after year.

Here are the top five reasons that customers will be joining us in Scottsdale, Arizona from September 18-20 (and why you should too!)

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Topics: Intesource Events

Optimizing eSourcing Through Adoption in 10 Steps

Posted by Kelly Deacon on Jul 14, 2016 8:30:00 AM

First off, let's all agree that eSourcing is unparalleled in its ability to return amazing ROI, as evidenced by the fact that the vast majority of large companies have eSourcing tools.

But just because an organization has an eSourcing tool doesn't mean they're using it to its fullest potential. And many aren't. Adoption issues plague eSourcing programs, but the organizations that are able to overcome these challenges reap huge rewards.

So what's coming between companies and eSourcing success? In the simplest of terms it comes down to one thing - fear of change.

How do you overcome fear of change? With information, education, and by providing proof and reassurance along the way that this uncomfortable period of 'newness' will all be worth it in the end.

When evaluating an eSourcing solution the implementation and management of the program should be top of mind - right along with feature functionality. 

The 10 program management essentials outlined below cover both the strategic and tactical ways to build adoption by making the process clear, repeatable, and overall less intimidating. 

  1. Category Discovery: Review all areas of spend to determine the best opportunities for eSourcing savings. Repeat this process annually.
  2. Implementation and Project Plan: Create a detailed blueprint outlining key personnel, program goals, and a plan of attack for achieving those goals.
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Topics: e-Sourcing Best Practices, e-Sourcing Strategy

Strategic Sourcing—the myth, the legend, the hero

Posted by Tracie Rohn on Jul 7, 2016 8:00:00 AM

We have heard this buzzword “Strategic Sourcing” more times than we can count on all of our fingers and toes but the truth is this—in the procurement world this one phrase you don’t want to forget or ignore. What does it all mean? What myths about strategic sourcing exist? What accomplishments has strategic sourcing achieved that could be seen as legendary? And of course everyone loves a hero—why is strategic sourcing the hero you need in your organization?  

The Myth:

Lowest Cost is ALL that matters.

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Topics: Motivational, e-Sourcing Strategy, About e-Sourcing

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

4 Ways Sourcing Drives Business Value

Posted by Kelly Deacon on Jun 24, 2016 8:30:00 AM

"Smart sourcing" is not just for procurement. The approach can generate value that positively impacts every corner of the organization. From sales and finance to operations and marketing, sourcing can help every department grow and reach their goals.

Stakeholders without a procurement background may not fully understand at first how valuable sourcing can be, but its role in areas like finance, risk management, customer satisfaction and brand reputation can reap tremendous rewards when implemented throughout the entire business. Which areas have the greatest potential?

Finance: the foundation for the future

Sourcing is an incredibly effective way to improve your organization’s bottom line. Think more savings, new revenue and unlocked working capital. By taking suppliers to auction on a regular basis, teams secure fair pricing, and can often end up getting a better deal on key supply sources. It seems simple: by driving costs down, profitability goes up, but these benefits must be sustained, measured and optimized over time in order to see real financial gains.

Key metrics to track include total cost of ownership (TCO), cost avoidance and company valuation. Sourcing complex categories like OpEx and CapEx, focusing on TCO, and understanding how these purchases truly impact the bottom line helps drive stronger, more sustainable results. Ultimately, this financial impact will shape the growth and direction of the organization.

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Topics: Motivational, e-Sourcing Best Practices