digital transformation

This Month at SIG – April 2021

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

This month we host our April SIGnature Event, have a host of exciting industry research and training to keep you up to date, and registration is open for SIG’s Procurement Technology Summit.


Geofencing of Employees, Onshoring and More - The New Normal

There’s still time to register for our upcoming digital SIGnature Event on April 21. The theme for the event is The New Normal. Senior-level and above delegates will participate in an executive roundtable hosted by Oliver Wyman to discuss energy transition and sustainable procurement.

Concurrent to the Executive Roundtable session will be an interactive panel discussion on Diversity & Inclusion, hosted by Janice Green, President & CEO , Women’s Business Enterprise Council Pacific (WBEC Pacific) .

Registration is Open: SIG Procurement Technology Summit

Prepare yourself and your team for the future of business at the SIG Procurement Technology Summit May 4-6, 2021!

Registered buy-side attendees get FREE ACCESS to attend all keynote sessions, engage and learn from the brightest industry experts, connect through AI-powered speed networking and experience live solution deep-dives from best-in-class providers.

Desmond Williams, Digital Marketing Coordinator

This Month at SIG – March 2021

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

This month we prepare for a new future in procurement, have a host of exciting industry research and webinars to keep you up to date, and we announce that registration is open for SIG’s Procurement Technology Summit.


Don't Miss These March Events

Why Does Procurement Take so Long? And How Can We Fix It?

Business stakeholders are continuously frustrated by how long procurement takes to bring suppliers on board. CPOs and senior executives are invited to join experts from App Orchid to learn innovative ideas for transforming the traditional procurement process within the organization.

Procurement: More than Savings

Join this open discussion with Canda Rozier, CIAP, Collabra Consulting and SIG University faculty, for her take on how procurement can best achieve value beyond just savings. This is your time to "Ask the Expert" as Canda has decades of experience on both sides of the business and is ready to share her insights based on trusted and tested methodologies.

 

Registration is Open: SIG Procurement Technology Summit

According to industry experts, procurement as a function will change more in the next five years than it has in the last 50. Prepare yourself and your team for the future of business at the SIG Procurement Technology Summit May 4-6, 2021!

Registered buy-side attendees get FREE ACCESS to attend all keynote sessions, engage and learn from the brightest industry experts, connect through AI-powered speed networking and experience live solution deep-dives from best-in-class providers.

Desmond Williams, Digital Marketing Coordinator

This Month at SIG – February 2021

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

This month we begin to build back stronger with leadership insight, industry research and webinars to keep you up to date.


Executive Leadership Education

Executives are invited to attend SIG’s next CPO & Executive Roundtable on February 24 for open-mic discussions on executive leadership and education, continuity of leadership and what skills the leaders of the future must develop.

GEP Outlook 2021 Report

For procurement leaders, there’s a lot more to do. And more questions than answers.

Get a big leg up with the GEP Outlook 2021 Report — featuring eight critical leadership themes that will help you navigate uncertainty and thrive in the new normal. Published annually, the GEP Outlook Report is a trusted strategic guide for thousands of procurement leaders across the world. Get your complimentary copy today.

Your Digital Procurement Expertise Checklist

The average working day in procurement will change more in the next five years than it has in the last 50. Are you prepared for digital procurement?

This checklist will help you identify your strengths and weaknesses and find the right way to start a digital transformation of procurement. 

Desmond Williams, Digital Marketing Coordinator

The Fear of Automation - Are We Prepared?

President Trump signed an executive order for the “American AI Initiative” to guide AI developments and investments in the following areas: research and development, ethical standards, automation, and international outreach.

SIG University Certified Intelligent Automation Professional (CIAP) program graduate Jolene Checchin discusses how technology and automation have changed our personal lives and how it will continue to evolve the way we work.


When “The Jetsons” cartoon made its debut in 1962, we could not imagine the futuristic automation they created. We thought it would be unrealistic to have flying cars (Terrafugia), jetpacks (Hoverboards), video calling (Face Time, Skype), robotic vacuums (Roomba), and much more. Now, fifty-eight years later, their future is our present, and to some, this can be unsettling.

Evolution of Technology

As a Baby Boomer, our generation has watched the evolution of technology at such a fast pace. I sometimes wonder if we really comprehend the changes. Just looking at how we can communicate today, we have gone from shared phone lines to cellphones, and we thought call waiting was a big deal! We can communicate, on the road, in the air, via video, email, text, and our social media resources are endless.

We have the ability to do our banking, pay our bills, and do our grocery shopping from anywhere we are. Some think purchasing a TV requires a degree in IT; from SD to OLED, do we really have a clear understanding of what any of that means? Instead of getting up to change the channel, we just want the ability to talk into a remote and tell the TV what we want to watch. We have appliances that cook while we are at work, and our refrigerators can now make grocery lists and place food replacement orders for us.

Jolene Checchin, Procurement System Administrator, CDK Global

Artificial Intelligence Can't Replace Human Interaction

Automation within procurement systems have developed.

SIG University Certified Sourcing Professional (CSP) program graduate Katherine Smith shares how lessons in the CSP program informed her during her company’s digital transformation.


One of the many areas of the CSP program that I found to be of great relevance for my role as a Procurement Specialist at Fannie Mae was the Lesson on Artificial Intelligence. Being of an older generation, I can remember working as a manager when there were no computers. Inventories were taken manually and then extended using calculators or adding machines. It was a significant step forward when we could automate that process.

Gone are the days of spending long hours on the phone reading off SKU numbers and quantities needed when placing orders for products, such as the food and paper supply needs of a hospital foodservice department. 

Katherine Smith, Sr. Contracts and Procurement Specialist, Fannie Mae

Successful Digital Transformation Requires an Inspection of all Business Processes

Procurement organizations are uniquely positioned to drive their companies' innovation agenda because no other function can “serve as the window to the outside world.

At the time of writing this piece, I am just one of five million people emerging from the world’s longest coronavirus-related lockdown, in Melbourne, Australia. For nearly two months, I was only allowed to leave the house once a day for essential items and required to stay within three miles of my home. From takeaway meals to IT support, to doctor’s appointments, most of the goods and services I've needed have been ordered virtually. Since COVID-19 hit, I’m amazed at how quickly the world went virtual.

Along with SAP colleagues and millions of workers globally, I’ve quickly adapted to working from home – connecting with others through virtual collaboration and networking tools. Imagine my surprise, then, when I received a notification in the mail that my driver’s license needed to be updated to reflect my correct birth date, requiring me to physically go to VicRoads, the DMV for the state of Victoria. How is it possible that under the strictest lockdown in the world, with thousands of workers operating remotely, I was still required to be physically present at the DMV to confirm my birth date and identity; especially knowing that the documents required could have easily been scanned and sent?

Before the coronavirus pandemic hit, the journey to digital transformation was underway across many industries. Whether through the purchase of large-scale enterprise resource planning (ERP) offered by companies like SAP, or through individual contracts with suppliers specializing in virtual banking, e-signatures, contracts or hiring, companies have taken steps to manage their businesses digitally. This move has paid off in the current environment.

Baber Farooq, Head of Product Strategy, SAP Procurement Solutions

Five Tips for Procurement to Improve Business Resiliency

 Improve Business Resiliency

“Resilience is accepting your new reality, even if it's less good than the one you had before. You can fight it, you can do nothing but scream about what you've lost, or you can accept that and try to put together something that's good.” – Elizabeth Edwards

When I was a kid, we never said the word resilience, but we did use the word tough. Being tough is just what we need right now; toughness is our ability to spring back, even when the world around us crumbles (think COVID-19). Our resiliency grows every time we flex – just like a muscle in our body. Developing a resilient procurement team likely means you are “starting over” – or creating a fresh start in some areas of your procurement ecosystem. If you’re feeling stuck or unsure where to start, you aren’t alone. Below are five ways that Procurement can help improve business resiliency:

Greg Anderson - SVP of Sales at Denali

Procurement's Role in Digital and Agile Transformations

Procurement digital and agile transformation

There’s no question that companies are turning to technology to manage many facets of their operations, and procurement is no different. Adopting a technology platform to manage one business unit can result in positive changes, reducing costs and increasing efficiencies. But what happens when a company decides to go through a complete agile and digital transformation?

Our client, College Board, decided to undertake such a sweeping change, and while they’re still on their journey, they are seeing positive outcomes across the organization. About five years ago, College Board saw successive changes in leadership with a new CIO coming in, followed by a new CPO. When they joined the team, College Board had disjointed technology – no department could communicate with another. So, the decision was made to jump into the deep end and take on a complete agile and digital transformation.

Building a Movement

The agile transformation, which would ultimately lead to the digital transformation, required a culture change at College Board. They knew behaviors had to change, both individually and companywide. There was a serious need for collaboration and cross-functional teams to remove the silos each department was in, which could be fostered by new technologies.

And College Board’s 1,800 employees and 250 contractors had to be on board. So, it all started with leadership. The organization’s forward-thinking CIO and CPO laid out clearly defined goals and strategies. Setting the example that this would be successful went a long way in encouraging employee buy-in.

Shashank Saxena, VNDLY CEO and Co-Founder

SIG Speaks to David Bittner, Pre-Sales Director, Icertis

David Bittner will present at the SIG Procurement Technology Summit

What is your role and what are your day-to-day responsibilities?

As a Pre-Sales Director at Icertis, I am a solution consultant. I work collaboratively with companies to understand their unique business challenges and uncover the specific value Icertis solutions will provide. Often, I explain and demonstrate the “art of the possible.” Many folks think of contract software solutions in terms of a module or repository with authoring tools, and I help them see the bigger picture of the true value an enterprise-level contract management system can provide.

What is something that you wish more people knew about sourcing and procurement?

For folks outside of sourcing and procurement organizations, I wish more people knew how critical the sourcing and procurement functions are to a business. The contracts that sourcing and procurement professionals deal with every day govern every dollar spent and are essential to optimizing the business and accelerating commerce. But it’s not only about the dollars, cents and saving money. It’s also about reducing risk by working with the right suppliers with mutually beneficial terms and ensuring that everything is captured and tracked in contracts. I see sourcing and procurement as a longer-term, strategic function, not just tactical.

David Bittner, Pre-Sales Director, Icertis

SIG Speaks to David Gingell, CMO, Seal Software

David Gingell will present at the SIG Procurement Technology Summit

What is your role and what are your day-to-day responsibilities?

I am responsible for marketing the Seal technology used by many Global 2000 companies to gain insight into both their buy-side and sell-side contracts. This means having a good understanding of the needs of our customers, being attuned to the areas in which our technology can help them and deliver the assets that they can use to evaluate whether Seal is right for them. This can be in terms of white papers, web copy, webinars and so on.

What is something that you wish more people knew about sourcing and procurement?

Clearly, I am motivated to see more and more organizations experience the value they can gain by having a deeper understanding of their contracts, identifying obligations they have, opportunities for revenue recovery or simply understanding whether they are tight with regulations like GDPR. All of these are about gaining insight to aid decision-making. Contract analytics is being adopted by forward-thinking procurement functions across financial institutions, energy companies, telcos, process and discrete manufacturers, indeed, across nearly every industry. My role is to help more companies understand the power of contract analytics.

In today’s current pandemic, companies are looking to their contracts to see if there is language which might give them a respite out of trying to meet their obligations to their customers across the supply chain – this is usually referenced in the force majeure clauses but also needs to take into account business continuity provisions and termination rights. This is one area where the power of contract analytics can be engaged.

David Gingell, CMO, Seal Software

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