Purchasing Insight

Purchase to Pay, Purchasing & Procurement Process, Electronic Invoicing

Browsing Posts published by Pete Loughlin

New technologies always promise to disrupt – it’s nearly always hype or enthusiastic futurology manifesting itself as over excitement that hasn’t really been thought through. But it’s not always hype and it’s great to see optimistic expectations actually being delivered in the real world.

I tell you what you want what you really really want – Doritos!

It was 1995. Monica Lewinski was in the White House, Windows 95 was launched, the Spice Girls were becoming the biggest girl group ever and last but not least, the internet fridge was launched. Don’t believe the nouveau geeks who swear that the internet of things is something new. The Internet fridge has been breaking it’s promise to disrupt the world of chilled groceries for nearly two decades. It seemed like a good idea but no one really thought it through.

Many of us consider internet marketing to be intrusive. We shouldn’t complain. We know what the deal is it when we sign up for “free” services in the full knowledge we’re inviting the marketers into our inbox and onto our desktop. But if you thought internet marketing was intrusive, try inviting the marketers directly into your fridge to manage your snack inventory. You might believe you’re buying into the internet of everything but, believe me, let an internet fridge into your kitchen and within weeks it will be full of nothing but Tortilla chips and salsa dip. continue reading…

I’m growing increasingly uncomfortable about disclosing how many years I’ve been consulting in the P2P space but spending many years doing the same sort of thing does give you a rich store of anecdotes and war stories. Something I do take a quiet delight in is finding exotic or unusual items within a spend analysis. I know a bank that bought an elephant. Working for what I thought was a boring, innocuous government agency I found ammunition as a spend category. Working in the aerospace and defense industry there are things I’ve seen procured (that I can’t disclose) that would make your hair stand on end.

But all of that diminishes to nothing today.

I feel very privileged to add to my consulting client list an organization that has procured the components of the first man made object to land on a comet.

Congratulations ESA – a magnificent achievement The best space mission since Apollo 11.

And it is relevant to purchase to pay. When implementing e-procurement and purchasing process best practice it is common to confront those people that believe they’re special – above the process. They can’t possible comply with a standardized policy because what they do is ‘special’.

Well, from now on, my benchmark of ‘special’ has changed. Landing on a comet is special – anything less is now ordinary.

Pete Loughlin can be found on twitter @peteloughlin

Like buses, you wait for one for ages then two come at once. It was only a few weeks ago I was speaking to Perfect Commerce – a rebranding of one of the great names of the past, CommerceOne – and this week I had the great pleasure to speak with Deem – one of the other greats.

You’d be forgiven for not recognizing the name. Deem is a re-branding of a product that many will be familiar with – Ketera. Deem acquired Ketera in 2010 and today they’re announcing what is in effect a relaunch. In their words “Deem Spend has been re-branded, refreshed and revitalized to automate entire sourcing processes and maximizes savings for our customers on every transaction”. continue reading…

When implementing Purchase to Pay, the strength of the objections to change can be surprising. People prefer paper. They don’t want to change. They want things immediately and they refuse to follow new processes. They think they can get a better deal themselves compared to the prices offered on a supplier catalog.

It’s been the same for years – decades even – and it’s that last objection: “I can get a better deal myself” that can be the most difficult because it is – or more precisely appears to be – a valid objection. So how do you overcome it? continue reading…

What links the P2P Summit in Vegas later this month and the entrepreneur of the year award?

The P2P Summit, (which by the way you should attend – see here) is one of the most important dates in the calendar but, being very honest, I struggled to see the connection between Las Vegas and P2P until I saw the announcement today about the London AIM market entrepreneur of the year award. continue reading…

This week I had the pleasure to support a seminar session run by Canon promoting their P2P offering. This is the transcript of my presentation

P2P has always been important – important in the sense that it has always been important to ensure that the correct approval is given before something is bought. It’s important in the sense that it has always been important to ensure that suppliers are paid according to contractual terms – and important in the sense that it’s important to ensure that the details on an invoice sent by a supplier match what was asked for and what was delivered.

But P2P has taken on a greater importance in recent years and there are three things that have put P2P in the spotlight

  • Visibility
  • Accountability
  • Automation

continue reading…

Yesterday, Tradeshift celebrated the opening of their new London offices with a reception in the heart of the financial district of Canary Wharf in London.  Set in Level39, the Fintech community in 1 Canada Square it was an opportunity to see the Tradeshift vision of the future of P2P – and, I have to say the vision is as exciting as it is dramatic which was matched by the magnificent view of the river Thames and the rapidly evolving skyline of London.

London Skyline

 

Christian Lanng’s presentation was actually superb, it really was, but there was one part of it when he made a claim that I suspect – just suspect – may not have been quite 100% based entirely in the broad realm of factuality – if you know what I mean – but more of that later. continue reading…