SIG Summit

Key Takeaways from the Fall Global Executive Summit

Key takeaways and resources for sourcing and procurement professionals from SIG's Fall Global Executive Summit

The Fall Global Executive Summit was one of the most well-attended Summits to date. With record attendance, compelling thought leaders, the first-ever Innovation Hall and a glitzy night recognizing the Future of Sourcing Award winners, it was one for the books! During this year’s speed networking, a whopping 207 meetings were booked and this year’s prizes for raffle winners were really spectacular, including a $5,000 donation to the winner’s charity of choice from Givewith, one of our newest social impact provider companies.  

Fall Summit Keynotes

Fall Summit Recap

The general session keynotes kept audiences engaged and our thought leaders answered some really great questions from the audience. Coupa’s CEO Rob Bernshteyn talked about how data, AI and community intelligence are impacting procurement; a panel of experts from Bank of Canada, PwC, Adobe and Boeing discussed tried and true best practices to be better at your job; the panel with LeaseAccelerator on upcoming changes to leasing standards elicited lots of discussion; and Kate Renwick-Espinosa closed us out with a look inside VSP Global’s inspiring company culture and commitment to fiscal fitness. 

One of the most buzzed about events at the Summit was Innovation Hall where provider companies that are utilizing AI and machine learning for everything from talent management to contract writing and negotiations networked with attendees while the Future of Sourcing Awards talks took place alongside them. It was great to see everyone’s gears turning as they talked about common challenges, potential solutions and learned more about opportunities available to them.

Dawn Tiura, President and CEO, SIG

SIG Speaks Weekly Briefing - October 14

Here's your weekly update on the latest thought leadership, networking events and training with SIG. 

The Global Executive Summit begins today!

We are in warm and sunny Carlsbad, California waiting for you to join us for the SIG Global Executive Summit taking place this week.

Can’t make it this fall? Join us in Orlando!

We're hosting a new kind of conference next spring. Secure your spot in Orlando for the SIG Procurement Technology Summit from April 20-22. This event will ignite your mind and impact the world!

The Innovation Hall

SIG is excited to present an Innovation Hall at the Fall 2019 Summit. The Innovation Hall introduces attendees to the latest tools, technologies and solutions available for sourcing professionals in one place. Plus – attendees can request meetings directly with sponsors to see their industry-leading solutions up close!

Hailey Corr, Content Manger

2020 Vision: Putting Sourcing at the Center of Visibility and Impact

Digital transformation increases data visibility.

Vision is a funny thing. Until relatively recently, humans were at the mercy of circumstance when it came to sight – if you had 2020 vision, you were lucky, but if not, you had no choice but to hope for the best. Then, glasses, telescopes and microscopes were invented. Then, flashlights. Suddenly, we could see very near and very far, and even in the dark. With the right tools, our world was transformed. 

Similarly, visibility in business is transforming with technology. In the past, we used notebooks and spreadsheets to transfer information. Today, we’ve seen customer relationship management (CRM), enterprise resource planning (ERP), and human capital management (HCM) software take off and transform the level of visibility within the business, allowing for unprecedented impact. Now, it’s Sourcing’s turn to transform and break free of spreadsheets and cumbersome legacy tools.

VSP Global Looks to Transform Sourcing

At VSP Global, the largest not-for-profit vision benefits provider in the United States, this sourcing transformation was a key priority. VSP serves over 77 million members by focusing on quality and affordability in eye care insurance, high-quality eyewear, ophthalmic technology and connected doctor-patient experiences.

To continue delivering the best results for their members, VSP Global set out to transform the way it approached the procurement process to drive better business outcomes, increasing stakeholder collaboration and visibility across the enterprise. The procurement team aligned on prioritizing four specific processes:

Stan Garber, President and Co-Founder at Scout RFP

Don’t Go It Alone – Ways to Win a Software Audit

software audit

Let’s face it: Software audits are not fun.

I should know – I lived through a very painful and protracted software audit at my current company, Russell Investments, an audit that lasted over eight months from start to end. While the software provider (who I will not name) was completely within their contractual rights, I learned a lot from the experience and would like to share that experience with you – so you can learn from what we did right, and what we did wrong. For the purposes of this blog and my presentation at SIG’s Fall Global Executive Summit, I will call this software provider “Skynet,” but rest assured the real name of the company is one you would easily recognize.

Software audits never happen at a convenient time. Our situation started in late November 2018, near the end of our fiscal year. Our various business groups were scrambling to get their purchase orders approved and issued by year end. Any remaining budget dollars were being used to get a head start on the next fiscal year.

Skynet sent a letter to our CFO saying that we had been “selected” to receive a software license review. The word “audit” was never used in the letter. Audits are highly profitable for software companies – companies can operate within their contractual rights, as audits have a high ROI. Why? Because most clients do not have a firm grasp on the number of software licenses purchased or deployed (either on-prem or in the cloud). 

Brett Miller, Director, Russell Investments

SIG Speaks to Kate Renwick-Espinosa

Kate Renwick-Espinosa headshot over the property of the Omni La Costa Resort hotel

Kate Renwick-Espinosa is the President of VSP Vision Care, a national not-for-profit vision company. At SIG's Fall Global Executive Summit, Kate will highlight how organizations can adopt a culture of fiscal fitness through impactful activities, engaging content pushed through a variety of communication channels, and a tighter alignment between leadership and different groups. Leveraging more than 27 years of optical and leadership experience, she’s energized by helping people see and feels fortunate to work for a company with similar “care and service” values. She’s accountable and committed to growing VSP membership and product and service offerings to meet diverse consumer needs and VSP’s client base.


Can you share a little more about your day-to-day role and responsibilities as the President of VSP Vision Care?

Helping people see is what motivates me every day. My primary focus is to help lead the direction and key efforts for the company that continue to grow and strengthen our VSP membership. This means we’re aligned and structured to be wherever the customer is making their vision care “purchase” and “care” decisions.  Our product and service offerings must meet diverse and personalized consumer needs as well as VSP’s client base both domestic and international. And, they must be straight-forward and easy to use!

I also work closely with our CEO, and entire leadership team, to ensure our growing company is connected and supporting our common goals and essentials as well as delivering a consistent and competitive marketplace presence. Together we ensure that when we all show up to work that we clearly understand where we’re trying to get to and how we make a difference. Collectively across our six lines of business, we’re delivering the kind of personalized eye care experience that creates members for life!

Stacy Mendoza, Digital Marketing Manager

Future of Sourcing Awards Finalists Announced

Future of Sourcing Awards Finalists Announced

New technology, competitive drive and the desire to upend the status quo to influence innovation and enhance value are important characteristics for sourcing and procurement professionals in today’s world. As the digital transformation continues to accelerate at an unprecedented and exciting pace, SIG wants to recognize the change makers, movers and shakers who show innovation, leadership and transformation in areas critical to the sourcing industry.

This week, SIG announced the finalists for the second annual Future of Sourcing Awards taking place at the Fall Global Executive Summit in Carlsbad, California, on October 16. A panel of senior executives judged nominees in eight team categories and two individual categories. The teams and individuals listed below demonstrated ingenuity, initiative and innovation and showed the greatest achievements in terms of fundamentally changing the nature of their business and/or industry.

Stacy Mendoza, Digital Marketing Manager

SIG Speaks Weekly Briefing - April 15 - Spring Global Executive Summit

Here's your weekly update on the latest thought leadership, networking events and training with SIG. 

The Global Executive Summit begins today!

We are in warm and sunny Amelia Island, Florida waiting for you to join us for the SIG Global Executive Summit taking place this Monday-Wednesday.

Can’t make it this spring? Join us in Carlsbad!

Registration is now open for the Fall Global Executive Summit in Carlsbad, CA from October 14th-16th. Secure your spot for this one of a kind event!

The SIGInnova Product Forum

The SIGInnova Product Forum is today at 3 pm. Buy-side attendees will interact with the latest sourcing technologies and see how they can drive strategic impact, improve profits and mitigate risk. Participants will be exposed to innovative and disruptive products that can help shape the future of Procurement.
 

2019 Summit Sessions

Sneak a peek at the sessions online. Our agenda is packed with content AND networking opportunities! Don't miss out!

Hailey Corr, Content Manger

This Month at SIG - April 2019

“April prepares her green traffic light and the world thinks GO.” – Christopher Morley

April is the start of a new quarter and many teams are seeking ways to make maximum impact on their goals and ultimately their company’s bottom line. To help you put the pedal to the metal this month, SIG has opportunities for training, industry networking and a chance to get recognized for all of the hard work you’ve put in.

SPRING GLOBAL EXECUTIVE SUMMIT

The Spring Global Executive Summit takes place April 15-17 at the Omni Amelia Island Plantation Resort in Amelia Island, FL. This Summit will connect you with other executives and industry experts, so come with an open mind, plenty of business cards and a sincere interest in becoming more strategic and influential.

At this Summit, all of the keynote sessions will bring remarkable stories and insights that will leave you feeling refreshed and inspired, with lots of great ideas to bring back to your team. Here's a look at two of our featured keynotes:

Clint Bruce -- Pursuing Elite: The Five Gifts of Elite Achievers

In any endeavor you can only have one of five outcomes: bad, average, good, excellent, and elite. If the endeavor is your passion or profession, the only acceptable result is somewhere between excellent and elite. Clint uses powerful stories and lessons learned as a highly decorated athlete and member of the elite SEAL Teams to share with the audience techniques to become an elite achiever in all aspects of life.

Sunil Gupta, Avinash Pemmaiah, Brad Killinger -- How do you Innovate to Buy Smart? Ask the Experts!

Heather Schleicher, Senior Marketing Director

Submit your Nomination for a Future of Sourcing Award

We are pleased to announce that nominations are now being accepted for the second-annual Future of Sourcing Awards, which will take place on October 16 at the Fall Global Executive Summit in Carlsbad, California.

The Future of Sourcing Awards program celebrates individuals and companies that are transforming, innovating and leading the sourcing and outsourcing industry. The Awards recognize team accomplishments in the following critical categories:

  • Sourcing
  • Outsourcing
  • Third Party Management
  • Supplier Performance
  • Digitization
  • Governance/Compliance
  • Talent Management
  • Sustainability

The winner of each award will represent the best example of innovation in each category, showing the greatest achievement in terms of fundamentally changing the nature of their business. In addition, the event will include two individual awards—the Rising Star and Sourcing Star awards to recognize individuals who have demonstrated ingenuity, initiative and innovation in their careers.

>>Learn more about the Future of Sourcing Awards categories

Stacy Mendoza, Digital Marketing Manager

Best Practices and Resources for Presenting at Industry Events

A man gives an industry presentation to an audience.

Presenting at an industry event is an important step in any professional's career. It is also an excellent opportunity to promote, showcase and reward a team for a job well-done. But most importantly, it is a critical factor in keeping an industry relevant, competitive and strong. Every professional worth their salt should consider it their duty to share their successes and failures.

Of course, in order to present at an industry event, you must first submit a proposal in the form of a session abstract. Sourcing professionals are well versed in writing business cases and category strategies, and we have all read our fair share of good and bad proposals. However, when it comes to writing a speaking proposal, many sourcing professionals don’t give it the time or energy it deserves. These abstracts are often used as written to describe your session, and if the goal is to share your thought leadership, you will want to make sure your abstract gets your audience’s attention. Consider the following five tips to write a compelling proposal for your next industry event.

Why present?

To write a good proposal, first define your objective for presenting to help drive the format and content. You may decide to present to showcase you or your team's achievements and thereby gain recognition. Or you may use the opportunity to establish yourself as a thought leader on a particular subject. Presenting in a room of peers or potential clients can also help you better understand the trends in your industry and the needs of your customers.

Mary Zampino, Senior Director of Global Sourcing Intelligence

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