This month, welcome a new cohort of students into the virtual classroom, 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 Global Executive Summit.
2020 has been beset by many uncertainties, but one thing is clear: Continuous learning is a key component to a thriving career.
To emerge successfully from this crisis, it takes more than just an investment in new technologies. It will take knowledge and know-how.
Using research-driven insights and real-world experiences, SIG University faculty are well-known sourcing and procurement practitioners. The online learning model is specifically suited to the adult learner who works full time.
All four certification programs create a common language among procurement teams that break down silos, improve business outcomes and fortify compliance. Delivered entirely online, a certification can be completed in five, six, 10 or 12 weeks depending on the area of study. Join us for the next round of classes that begin on September 28.
This month, we continue with the monthly CPO and Executive Virtual Series, welcome a new round of students into the virtual classroom, and have exciting industry research and webinars to keep you engaged and up to date.
August CPO & Executive Virtual Series
Senior executives are invited to join SIG and Scout RFP, a Workday Company, for an interactive event on August 12 from 1 pm to 3 pm ET. The format is open mic, collaborative and topic will focus on shifting from reactive to proactive as we move into the second half of 2020. The featured speaker is Karen Coker, Head of VMO & Strategic Sourcing at University Federal Credit Union.
To join this event, RSVP on our website. There is a cap on attendance to keep the conversation flowing and to build connections with other buy-side industry executives.
An area that has seen an uptick in hiring amid record unemployment are jobs in sourcing, procurement and supply chain management, but the skill sets required for these positions are now more specialized than they were pre-COVID-19.
With more people working from home, SIG University is offering an additional semester to help sourcing, procurement, risk and supply chain professionals earn an industry certification. Certification programs are a cost-effective alternative to lengthy degree programs, especially in an economic recession.
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 firstname.lastname@example.org.
Check out the February round-up of new research from our industry partners, upcoming webinars to bookmark and the latest podcasts with procurement thought leaders and award winners.
Contract Risk Playbook: Risks Hiding in Plain Sight
This e-book is an advanced guide for corporate boards and senior executives to mitigate contractual risks. Included are steps to assess situations, take action and move forward, as well as a checklist for directors and executives.
February 5 – 5 Procure-to-Pay Trends to Watch in 2020 Presented by: Basware Now is the perfect time to take a look at the future of P2P. This webinar will cover new innovations in the P2P marketplace and the trends that will make the biggest impact this year.
February 25 – The State of Procurement’s Value Measurement: Evolution and Best Practices Presented by: Ivalua Today, successful value measurement in procurement requires understanding the mindset of stakeholders and leveraging the trove of procurement data that's available. Join this webinar for insight into best practices and to better understand changes in the industry that impact procurement’s value measurement.
2020 will be a big year for many reasons: it’s not only the start of a new decade, but the upcoming presidential election will have enormous impacts on businesses and economies across the world no matter who occupies the White House. As the world’s supply chains brace for more uncertainty and try to read the presidential candidates’ tea leaves, the best thing that you can do is prepare yourself to stay ahead of the competition.
SIG University Offers New Intelligent Automation Certification
Kick off the new year with a professional certification from SIG University! Now offering four certifications, SIG University has partnered with Virtual Operations to provide advanced training on Intelligent Process Automation. Ready to take your expertise to the next level with cutting-edge training? Check out the four certification programs offered below, classes begin January 20.
Here's your weekly update on the latest thought leadership, networking events and training with SIG.
Spend Matters has released Q4 Services Procurement Vendor rankings
In 2.5 years since the first release, procurement professionals have referenced Spend Matters’ SolutionMap procurement technology benchmark rankings over 112,000 times, with the Accelerator toolkit gaining rapid traction to inform procurement technology selections:
“We didn’t have enough process and technology knowledge to identify our requirements for a P2P transformation. We wanted to include enough leading practice into our phase 1 assessment, recommendation and business case…You really helped us narrow the population.” — Senior Director, Supply Market Insight
It’s hard to believe that we are making the final turn into 2020. It has been a wild year, with Tweet storms swinging the markets, the impacts of tariffs on supply chains and more companies than ever in the headlines for data breaches, but it has also been an exciting year. Gartner predicts that AI projects will double over the next year and IDC forecasts that global digital transformation spend will reach $1.18 trillion, a 17.9% increase over 2018.
These advancements have allowed procurement to grow from a back-office purchasing function to a strategic business partner, consulting on technology spend and adoption, supplier innovation, and increasingly, third-party risk management. With those themes in mind, we begin Q4 with the resources to help you finish out the year strong.
Fall Global Executive Summit
The SIG team is in overdrive to bring you a revamped Global Executive Summit that has a laser focus on innovation. Breakout sessions include digital transformation roadmaps, supplier relationship management and risk mitigation strategies, and the strategic sourcing success stories that will encourage and inspire you. We also have a lineup of keynote speakers who are senior practitioners and thought leaders:
It’s hard to believe that we’re already halfway through 2019! Take a moment to reflect on the goals you set for yourself at the beginning of the year. Whether you’re on track to accomplish those goals or have some catching up to do, SIG is here to help you close out Q2 with opportunities to win a professional award, join a webinar from the comfort of your desk and get the presentation anthology from our latest Global Executive Summit.
Awards Deadline Extension
Due to heightened interest in the second-annual Future of Sourcing Awards, the deadline to submit a nomination has been extended to June 7. You can nominate yourself or your colleagues for an individual award or submit a nomination for a team award in one of eight categories.
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.
Another year has rolled by leaving the same writing on the wall, only this time it’s louder and clearer: Digital transformation has well and truly arrived at procurement’s doorstep.
But up until now, it has merely received a lukewarm welcome.
In 2019, that could change. The winds of digital transformation are slowly but surely turning the wheels of procurement and savvy procurement teams are beginning to acknowledge its benefits. This is evident from how procurement teams are beginning to perceive digital transformation.
Consider this: A recent Hackett Group study titled, 2019 Procurement Key Issues, has revealed that digital transformation is a critical goal for a majority of procurement departments in 2019.
That’s because over the years digital transformation has moved its way up the ladder in the procurement department. In 2018, more than 90 percent of procurement professionals said they believed digital transformation will fundamentally shift the way procurement services are getting delivered within two to three years, according to a Hackett Group survey. Compared with 2017, this is more than a 10-percent increase.
Remarkably, the percentage of organizations that have a formal strategy for digital transformation more than doubled in the last two years, from 32 percent in 2017 to 66 percent in 2018. In the same period, the number of organizations indicating they have the resources to handle the transformation also increased, from 25 percent in 2017 to 46 percent in 2018.
This is a clear indication that in 2019 the gap between the promise of digital transformation and leveraging it to its full potential will narrow.
At the same time, the gap between CPOs who haven’t yet embraced digital transformation and high-performing procurement organizations that have already gained a first-mover advantage will widen. They’ll have a lot of ground to cover to keep pace with the latter.