It’s been a long year and we’re only halfway through it. Many of us have scrapped our plans, both personally and professionally, retooled our strategies and reprioritized our resources. It’s frustrating to make drastic changes with no clear forecast on the horizon, but growth comes from being uncomfortable and taking risks. Instead of dwelling on what could have been, let's take a look at what’s to come.
Summit Presentation Anthology
Following each Summit, we release our Summit Presentation Anthology that offers a snapshot of each presentation along with the presenter’s contact information. The inaugural Spring Procurement Technology Summit was supposed to be an in-person event in April, but the global pandemic upended our plans and we had to pivot our strategy to go digital.
While we missed catching up with old friends and making new connections at the Summit, we welcomed over 1,100 delegates from all over the world to our digital platform. The best part? Every single session is recorded! Not only can you get the presentation decks, but you can watch any sessions you missed or revisit sessions to dive deeper in the subject matter. The Anthology is only available to SIG members. If you’re not a member and want to join, reach out to us.
COVID-19 Resources for Procurement, Sourcing and Workforce Management
When we switched our spring Summit from in-person to virtual due to the global pandemic, many Summit presenters also changed their topic given the current events. What we are experiencing now is historical on many fronts, not the least of which is the role of procurement in a global emergency.
It’s hard to believe that we’re already halfway through 2020! Given everything that's happened this year, it's likely that the goals you set for yourself at the beginning of the year have changed - and that's okay. No matter what you seek to accomplish, whether it's pushing ahead or navigating a new normal, SIG is here to help you start Q3 with a bang.
Calling all CPOs!
Senior procurement executives are invited to join this monthly virtual meeting to find solutions to challenges that procurement leaders are facing today. These single-topic discussions are delivered in an open-mic, collaborative format for a personal and targeted discussion.
With a maximum of 15 attendees, this two-hour session will cover topics relevant to CPO and executive-level procurement practitioners across industries. You are invited to join the discussion and share your experiences, ask questions and share your expertise with the group.
A SIG University certification on your resume will make you stand out and demonstrate your expertise. Earn your certification at a discounted rate when you enroll and pay prior to June 6! SIG University’s curriculum is unique and delivered entirely online. Students learn from real-world sourcing and risk events that are taught by senior industry practitioners. Graduates are equipped with the resources and knowledge to add value immediately.
At the SIG Procurement Technology Summit, attendees will experience the latest procurement technology in a virtual Innovation Hall. These companies are using artificial intelligence, machine learning and robotic process automation to elevate the role of procurement, ignite innovation and impact the world.
Featured here are company overview, solution overview, and company approach and process to help you learn more about the following virtual Innovation Hall technology providers:
Certified Professional Accountants (CPAs) who are looking to earn Continuing Professional Education (CPE) credits to maintain their licenses can improve their knowledge in third-party risk management by enrolling in SIG University’s Certified Third Party Risk Management Professional (C3PRMP) program.
SIG was recently approved by the National Association of State Boards of Accountancy (NASBA) as a CEP sponsor. The National Registry of CPE Sponsors recognizes and highlights CPE sponsors that provide CPE programs in accordance with nationally recognized standards.
CPA and equivalent designations who enroll in the CPE-track of SIG University’s Certified Third Party Risk Management Professional (C3PRMP) program will receive 66 CPE credits and graduate with a strong knowledge base of third-party risk management best practices that can be implemented immediately.
CPAs are in possession of highly sensitive client data that cybercriminals and other bad actors could exploit. This program touches on all areas of operational risk, including cyber, business resilience, financial, technology and reputational risk. Anyone who is serious about investing in their team and protecting the wider enterprise will benefit from the program’s focus on governance and oversight best practices, controls and board reporting with a view from the top.
Deb Cunningham’s passion for creating wellness in both the corporate world and personal life has led to her role as co-founder of The Mindfulness Effect, a boutique corporate consulting company that bring mindfulness into the workplace. With a career in healthcare that spans over two decades, she has combined her industry experience with 20+ years of practicing and teaching yoga and mindfulness. She is a certified RYT500/YACEP yoga instructor and certified Yoga Nidra meditation instructor.
What is mindfulness, generally speaking?
Mindfulness is a term that attempts to summarize a way of seeing the world around us, in the present moment and releasing the tendency to judge. It forces us to stop and pay attention, which is an important component in balancing the nervous system.
The past few weeks have catapulted the entire globe into a constant state of near panic. This perpetual barrage of fear and anxiety is quite literally triggering the fight, flight or freeze response in the brain. How can we move through these times with a calm and present state of mind?
As we know, our environment is constantly changing. Look at the last month, never mind the last 20 years, and we can see that the ability to adapt quickly to new circumstances is vital. This requires a level head and access to focus, ingenuity and intuition.
How does mindfulness work in a business setting?
We have all seen the person staring listlessly into the air as they go about the mundane task of the moment. It is proven that executives cannot focus on what’s at hand due to the unending demand for their attention, whether it’s the phone, email, text, reports, meetings and face-to-face interactions.
Spend Matters has just released its 7th annual “50 Providers to Know/50 Providers to Watch” lists. Each year, Spend Matters’ technology analysts assess the capabilities for an array of companies across 13 market sectors and releases its lists of 100 vendors in the industry. These represent the best-in-class companies you need to know about as well as the up-and-coming, growing firms to keep your eye on.
Providers to Know
Among this year’s vendors are 11 companies that have earned the “50 Providers to Know” distinction each of the seven years the lists have been published! These include Accenture, Achilles, Basware, Beeline, Coupa (including Trade Extensions and Spend 360), Deloitte Consulting, GEP, Insight Sourcing Group (including SpendHQ), Ivalua, Jaggaer and The Hackett Group. These vendors sit alongside AppZen and Rosslyn Analytics, which are brand-new “to Know” companies for 2020.
Providers to Watch
Eight vendors jumped from the Watch to the Know list in 2020, they are Agiloft, Celonis, ConnXus, Lease Accelerator, MBO Partners, NPI, Per Angusta and Tipalti. More than half of the “50 Providers to Watch” list represents new honorees, with 34 new companies included, four of which are start-ups featured on the 2019 Spend Matters “Future 5” list — Bid Ops, Fairmarkit, Negotiatus and SupplyHive.
Outlined here is information about the upcoming changes and benefits of your C3PRMP designation, as well as a profile of our students.
What is different about SIG University’s C3PRMP program in 2020?
In January, the duration of SIG University's C3PRMP program was extended from eight weeks to 10 weeks. Multiple-choice review questions at the end of each module will test all students’ knowledge and require a minimum passing score of 80%.
Members of the Global Association of Risk Professionals (GARP) will continue to earn 20 Continuing Professional Development (CPD) credits, GARP’s highest award for a continuing professional development program.
No one could have predicted that the start of Q2 would be quite like this. As the world works to flatten the curve of the COVID-19 pandemic, businesses will come to rely on procurement more than ever. This month, SIG is providing free access to a selection of business continuity resources for all readers, along with more information on earning a professional certification that will increase your value during these uncertain times, plus there's an exciting update on the Procurement Technology Summit and more.
Business Continuity Resources for Sourcing and Procurement
The SIG Resource Center has thousands of tools and templates for SIG members to use and reference, but since knowledge sharing is of critical importance right now, SIG is offering free access to the below resources to all readers, regardless of membership status. These can be used to help you and your teams ensure business continuity and plan for future crises that may arise.
In the Northern Hemisphere, March signals the first month of spring. In the procurement world, March signals the beginning of conference season! Attending events gives you the opportunity to learn more about the industry and make valuable connections, which are important for professional growth. Short on time? Check out a virtual webinar to learn something new in just an hour. No matter where you get your inspiration, share what you learn with the broader SIG community in our member’s LinkedIn Group.
Rescheduled - Western Regional SIGnature Event
The Western Regional SIGnature Event has been rescheduled to October 1 due to the current reports of the Coronavirus (COVID-19) in Washington state. This postponement was done out of an abundance of caution for the health and safety of our attendees and employees. All registrations have been carried over to this new date and there is no need for you to register again.
Please modify or rebook your travel and hotel reservations for the new date. Most airlines are accommodating reservation changes right now due to the Coronavirus. If you cannot attend on October 1, please update your registration status on our website. Should you have any questions or concerns about your registration, please email email@example.com.
Michael van Keulen is Chief Procurement Officer at Coupa. He formerly served as the Global Procurement Director at lululemon athletica inc. (NASDAQ: LULU), a $3B+ designer, distributor, and retailer of technical athletic apparel. Previously Michael served as the Procurement Director at VF Corporation (NYSE: VFC), a $12B+ lifestyle apparel and footwear company. Michael is known for leading procurement transformations that generate significant shareholder value.
You have a passion for sourcing talent and developing high-performing teams. How is your approach different than others?
I’m not claiming my approach is different or unique. When hiring, I look for attitude first and procurement experience second. I always say procurement is a seven-step process that can be taught to anyone. What is difficult (if not impossible) to teach someone is to be “naturally curious” and “passionate” about the profession. Procurement is about being bold, going outside the comfort zone and challenging the status quo. This mindset requires people who have high EQ, are agile and not afraid to make mistakes. These traits are even more important when going through a transformation from tactical/operational to strategic.