SIG Speaks Blog

SIG Speaks Weekly Briefing - November 18

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

A Report on Maverick Spend

The Hackett Group conducted a survey to gain insight into the strategic importance of maverick spend reduction, understand the adoption of specific procurement practices, and differentiate how top-performing organizations approach this topic.

Managing Spend within a Gig Economy

Coupa and Forrester have come together to provide an on-demand webinar on how to better source, procure and manage your contingent workforce within your increasing external services spend.

Join SIG's B2B Private Social Network on TraDove.com

On November 20 at 1pm learn more about how to connect and collaborate with the best-suited buyers and sellers worldwide using AI technology with SIG's B2B Private Social Network on TraDove.com.

Hailey Corr, Content Manger

SWOT Analysis: A Procurement Best Practice

SWOT Analysis graph

A Certified Sourcing Professional (CSP) student rediscovers the benefit of SWOT analysis, a tried and true procurement best practice. In the CSP program, students focus on the hard and soft skills of sourcing, including strategic sourcing and outsourcing methodologies, as well as best practices in negotiations. 


It is common for many procurement professionals to lose sight of the basics and fall into a pattern of just following along with the habits they’ve built through the years. During SIG University’s Certified Sourcing Professional (CSP) program, I was able to take a step back and evaluate some best practices that seem to have fallen off in my procurement department.

Within my organization, as with many, there is a never-ending sense of urgency when internal stakeholders come to us with sourcing or contracting needs that they would like completed yesterday. By actively embracing SWOT analysis, procurement would be able to better serve its stakeholders. This analysis would provide better oversight of issues as they arise and increase the potential of solving business issues with enhanced results.

Sammi Kiesel, Strategic Sourcing Advisor

SIG Speaks Weekly Briefing - November 11

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

Procurement Experts Outlook 2019

As a procurement practitioner, you would be keen on chalking an all-encompassing procurement strategy. Download this eBook to gain the latest insights and views from the brightest minds in procurement.

2019 Annual Default Review

Download RapidRatings' 2019 Annual Default Review to find out the top five supplier red flags and top five industries to watch out for.

Northeastern Regional SIGnature Event

Join other sourcing professionals in Toronto on November 14 for a day of thought leadership and networking.

Future of Sourcing Articles

Read about these 5 strategies that can help distribution centers keep their competitive edge by protecting their core operations

Generally, there are four common mistakes that organizations make relating to real estate spend. Luckily, there are some best practices for overcoming these mistakes.

Hailey Corr, Content Manger

Talking to Your Tail Spend: Chapter 2 – 4 Tips to Work with Internal Stakeholders

Advice on how to work with internal stakeholders to manage tail spend

We’re releasing a series of articles to answer your questions about tail spend, starting with the basics so you understand what tail spend is and we’ll progress along the spectrum to help you manage it. To get up to speed, read our prologue and Chapter 1 on what this tail spend series will help you accomplish. In this chapter, we'll explore how to better communicate with stakeholders to get tail spend under control.


“Who purchased you and why?”

This is perhaps the most intriguing question and the right place to start when looking at tail spend. A spend analysis is often the first step in building a procurement capability, and if used on an ongoing basis, it can help to understand what spend consolidation efforts leave out. To accurately capture the full picture, analysis should pull in data from multiple sources, such as purchasing/payment systems, purchasing card data, travel and expense systems, and often multiple ERP systems, even petty cash if local branches still use it.  

Fortunately, there are many helpful tools on the market that range from free-for-use apps to complex software platforms enabled with artificial intelligence (AI). Nearly all of these will help with generating what we call a “spend cube,” which is an analysis, at the line-item level, of global spend. This can include:  

Amy Fong, Principal - Procurement and Purchase to Pay Advisory, The Hackett Group

Breathing New Life into Traditional Vendor Management

Vendor risk management is part of effective governance.

SIG University Certified Third Party Risk Management Professional (C3PRMP) Program graduate David England has noticed a decline in vendor management teams. He shares his thoughts on how the adoption of third-party risk management strategies by vendor management teams can help position them as a key asset and reverse their decline.

In the C3PRMP program, students focus on best and emerging practices to identify, assess, manage and control third-party risk throughout the lifecycle of relationships, and learn how to align risk fundamentals and frameworks with risk culture to develop the essential tools and controls for effective governance.


There is a growing awareness within the mainstream business community of the importance associated with effective third-party risk management – a capability that has been nicely incubating and maturing within heavily regulated industries, such as banking and financial services, for eons. This increased exposure and attention could be just what is needed to revitalize the flagging vendor management movement.

Many F500 organizations have well-established vendor management capabilities that spawned several decades ago with the onset of strategic process outsourcing and continue today as an effective operational strategy. Many organizations I have consulted with over the past 15 years benefit from these capabilities, which has helped them achieve the value intended from these important vendor relationships. These key capabilities include:

David England, Director, Governance Services at ISG

SIG Speaks Weekly Briefing - November 4

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

Learn Essential Capabilities for Modern Procurement and Finance

Most procurement and finance organizations struggle with data quality and visibility. Even the most sophisticated teams still find themselves stuck in a reactive mode. This eBook explores some of the technology trends and business practices that are helping to define a new, strategic role for procurement.

This Month at SIG

Take a dive into the Summit Anthology and Resource Guide to map your strategy for the coming year, catch up on some industry research, learn more about our new industry partnerships, with PeopleTicker and Spend Matters, and check out one of the many webinars happening this month.

Talking to Your Tail Spend: Chapter 1 - Why Don't You Call

When we talk about problematic tail spend, what we’re really talking about is unapproved supply sources. But tail spend is a cuter name.

Future of Sourcing Articles

Generally, there are four common mistakes that organizations make relating to real estate spend. Read more about some best practices for overcoming these mistakes

Hailey Corr, Content Manger

Who is Spend Matters, what is SolutionMap — and how can SIG members benefit?

SIG and SpendMatters Partnership

As part of Spend Matters' recently announced partnership with SIG, we’re excited to share exactly what Spend Matters brings to the table (deep insights into procurement software) and why that matters Spend Matters 12 SolutionMap Categoriesfor SIG members.

Spend Matters reaches a global audience of procurement professionals and provides coverage of procurement software and services vendors across the source-to-pay spectrum and other areas, like contingent workforce and AP automation. You can find many of the key players in the Spend Matters Almanac, a directory of 500+ vendors and consultants in procurement.

Through SolutionMap, anyone doing a procurement technology selection can explore 12 categories to get a snapshot of those markets for absolutely no cost. Players are ranked in areas like Source-to-Pay (S2P), E-Procurement, Contract Lifecycle Management, Sourcing, Supplier Management and more.

SolutionMap helps procurement organizations save time in their technology RFP processes by relying on the Spend Matters analyst team, who have already assessed capabilities at a granular level, validating them through live demos. Because technology is developed and updated so quickly these days, SolutionMap is updated quarterly.

Carina Kuhl, Chief Marketing Officer, Managing Director, Spend Matters

This Month at SIG – November 2019

A roundup of SIG content in November.

After a great week in Carlsbad, California, at the Fall Global Executive Summit last month, we are excited to bring you even more resources and connect you with a network of people to help you be your best. Take a dive into the Summit Anthology and Resource Guide to map your strategy for the coming year, catch up on some industry research, learn more about our partnerships with PeopleTicker, Spend Matters and TraDove, and check out one of the many webinars happening this month.

Summit Anthology and Resource Guide

Following each Summit, we publish an anthology that provides a snapshot of every Summit presentation and also includes speakers’ contact information if you’d like to follow up with them. The 2019 SIG Fall Global Executive Summit hosted over 40 keynote and breakout sessions.

This is a great resource for an overview of the content to share with your team members who were not able to attend and to demonstrate key takeaways and ROI to your executive team.

Northeastern Regional SIGnature Event

SIG’s last event of 2019 will take place in Toronto, Ontario at the BMO Institute for Learning. Delegates can expect executive roundtables (for director levels and above), deep-dive training on third party risk management, provoking general session speakers, lunch, CPO presentations, analyst overviews and more.

SIGnature Events are like mini-Summits, with ample time for networking with peers and provider thought leaders. There’s still time to register for this event, but space is limited and registration will be capped.

Stacy Mendoza, Digital Marketing Manager

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 28

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

A Report on Maverick Spend

The Hackett Group conducted a survey to gain insight into the strategic importance of maverick spend reduction, understand the adoption of specific procurement practices, and differentiate how top-performing organizations approach this topic.

Procurement Experts Outlook 2019

Practitioners, experts, and analysts share key insights and trends that will shape and impact procurement in 2019.

Aligning Risk Management Tools to Protect Customer Data

A health insurance professional with a small team helps protect the big data of her organization’s customers.

Future of Sourcing Articles

Some believe conflict in teams is bad and others might believe it can be a productive source for creative tension used to drive innovation. So, who is right?

Many security issues that pop up in outsourcing cases are due to a lack of proper expectations. Avoid these common mistakes by listening to Dan Pinto. 

Hailey Corr, Content Manger

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