January saw record low temperatures all over the country and February shows no signs of easing up! Make the most of your time inside by getting caught up on the latest industry research from the experts at GEP, Coupa, Forrester and RapidRatings. Or if you’re itching to get outside the office, consider attending the Executive Immersion Program in New York City on February 7.
Executive Immersion Program with Morgan Lewis
Morgan Lewis Offices, New York City February 7
The powerhouse team from Morgan Lewis Law will be holding a masterclass on contract drafting, complex negotiations and artificial intelligence in sourcing. Morgan Lewis Partner Edward Hansen draws from his years of experience to discuss the principles of contracting and how to negotiate a transformational deal. You can expect controversial topics and lively discussions.
This interactive masterclass will include direct examples from experienced and innovative industry leaders who focus on information technology-enabled transformation as well as customer and vendor outsourcing deal management. This workshop is specifically designed for business leaders, practitioner sourcing professionals, and in-house counsel who work together to create value for their organizations.
Addressing the Services Spend Management Challenge
Coupa Software commissioned Forrester Consulting to evaluate the state of services and contingent workforce management, addressing the unique set of challenges firms face, the kinds of software tools needed to support services spending, and the internal adoption and usage of these tools.
Bruce is a distinguished thought leader and global innovator, with over three decades’ experience within the human capital and workforce management industry. In his current role, Bruce is involved in new services and product idea generation, sales presentations, internal and external evangelism, digital and social media strategies, and lead generation. He gives us an inside look into his role, how he acts as a key partner to the business and his outlook on the future of work.
Your CPO keynote presentation at the Denver CPO Meet and Eat is about leveraging spend management within services categories--why is this an important topic?
There is a lot of talk about spend analytics, data and how that is the future of success. Our position is that spend analytics is a wonderful tool and capability but we’ve yet to see the capability evolve beyond goods-level detail. As procurement teams are continuing to try to find ways to better address services spend and deliver value to their organizations, we feel that there is tremendous opportunity by thinking differently about this space.
Alexander Beck, PhD, is a data scientist with a demonstrated history of utilizing machine learning and data science in the financial sector, especially asset management. Alexander has a 10-year track record in business applicable artificial intelligence research, including in the fields of financial markets and customer analytics.
Data scientists analyze and interpret mountains of complex digital data to inform decision-making and strategic processes. When it comes to digital procurement and supply chains, data scientists can automate workflows and employ predictive analytics to more accurately forecast demand or disruption.
IBM predicts that demand for data scientists will increase by 28 percent by 2020, with Finance and Insurance, Professional Services and IT generating the most demand. This role often requires an advanced degree, such as a master’s or PhD. For those who are looking to add data scientists to their teams or want to learn how to best work with data scientists, Alexander shares insight into his function, how he assists the business to make informed decisions and automate workflows, and highlights some common misconceptions about data scientists.
The relationship between buyers and providers can be a tricky one, especially when operating across multiple continents. Speaking during a podcast interview with Dawn Tiura, Sean Delaney, Vice President of Sales for cloud platform Determine, draws on his experience as both a buyer and provider to share best practices for relationships that are sustainable and strategic.
WORK ON YOUR SOFT SKILLS
Technical expertise is valuable, but your ability to establish a rapport with customers is important for sustainable relationships. “Candor is important because there's a large degree of personal credibility that buyers are putting on the line when selecting a vendor," says Delaney. "That needs to be understood as a seller and we need to make sure that we don't break that trust. That's our role.”
Early days were characterized by excitement over the dramatic productivity and cost-saving benefits enabled by RPA. Over time, however, the limitations of rules-based bots have emerged. For one thing, basic RPA tools can’t adjust to new conditions or changes in their environment. Even the slightest deviation from the process they’re trained to follow triggers an exception that requires a human to step in, thereby sapping the solution’s productivity.
Another issue is the complexity surrounding deployment of RPA bots. While instructing a bot to perform a task is relatively easy, it does involve a level of programming expertise. Most end users of RPA are on the business side and lack the requisite technical knowledge. That means that setting up a bot requires an RPA programmer. Demand for RPA skills, meanwhile, is through the roof. (Witness the volume of urgent “we’re hiring” notices on LinkedIn pleading for people with Automation Anywhere, Blue Prism and UiPath certifications.) As a result, because the intervention of scarce technical resources is required, bottlenecks often occur when deploying a bot for a business user.
Alex Kozlov, Director of Content for Softtek US & Canada
So welcome to the end of 2016 and the beginning of 2017. As the year comes to an end, it strikes me that the world is changing...and changing faster and faster than anyone knew was coming. We now recognize that the future of work looks very different than it did a few years ago. We aren’t living in the "Jetson’s age" just yet, but we are definitely living in a world that I only dreamed about as a child. Fast forward to today...I have a robot in my kitchen that keeps my grocery list, gives me National Public Radio News daily, is my food timer, sets appointments up in my calendar, reminds me when I need to do things, as well as tells me daily jokes, plays music, turns on and off my lights and makes sure I know when it is time to reorder my dog food.
My Amazon Echo, or Alexa, is my BFF at my house. She knows more about my likes and dislikes than my fiancé. She knows my grocery list, she knows what I like for music, she keeps track of my to-do’s and she is in charge of making sure my Christmas baking doesn’t burn. But more importantly, she helps the kids with homework, reminds them of their chores (yes, yawn, yawn) and so much more.
So how are you using robots in your business? How is RPA going to change the future of work and how we perform in the future? Yet alone, when we add cognitive to the solution what does the workforce look like for the future? Are we going to only need people who automate the work they do today or do we need to create a generation of future employees who "get" how the world might function? Will we one day have people come to a job interview and ask for a robot to be included in the offer to help streamline the repetitive tasks in a person's work? I reckon that day is near. I for one would love to have that kind of power on my desk on a daily basis. Wouldn't you?