Pure Procurement

Today, we’re talking about market research in Procurement. More specifically, we’re covering how to optimize the market research and market intelligence gathering processes within your organization. This will help you generate better and faster outcomes from your sourcing events. Currently, when your organization needs to buy something new, you’ll do research on the market and […]

Today we discuss where to start when attempting Accounts Payable automation. This is last piece of the Source-to-Pay process. It is often neglected by Procurement departments as it usually falls outside the department’s scope of responsibility. However, including Accounts Payable in your digital transformation is a key to maximizing benefits. To help me discuss the […]

On the last episode, we explored the criticality of vendor data for Source-to-Pay system benefits realization. On this episode, we widen our focus to see how you can quickly get value from the spend data you currently have in your organization to enable better decision-making. In 10 years of working with clients on Procurement improvement […]

“Vendor data should be at the core of your Source to Pay transformation and technology should just be way to drive compliance and enable the execution of your strategy.” – Stephany Lapierre On the last episode, we explored the critical success factors for your Source to Pay system implementation. One of the factors that came up and got a strong reaction was vendor master data quality. Everyone agrees this is an important topic. However, when it comes down to the specific actions that should be taken to tangibly set yourself up for success, there aren’t many experts on the topic. Today, I am fortunate enough to be joined by one of these rare gems. In fact, my guest today has built a company around the fact that being the master of your vendor information is the backbone of success in Source to Pay. Stephany Lapierre is the Chief Executive Officer at Tealbook, a Canadian vendor network software provider based in Toronto, Ontario. Stephany and her team have been working since 2014 on putting together a platform that leaves your ERP vendor master in the dust. By doing away with limited and static vendor information and developing tools and processes to delivery up-to-date, granular and contextually specific information to buyers and sellers, Tealbook is making a name for itself. While on this journey, let’s just say she’s gotten very intimate with the good, bad and the ugly of the vendor master. That’s why I’ve asked her onto the show – to discuss how companies can effectively cleanse vendor master data, how to measure progress and how to keep consistent vendor data quality levels. We dive into the problems with traditional thinking about vendor data quality management and walk though the process and tools that can be used to really see progress on this front in your company. ———————————Do you believe good vendor data is critical to reaching your digitization objectives? What hurdles have you faced on the cleansing journey? What lessons learned can you share? Let me know in the comments. If you liked this post, why not Subscribe Intro music provided by hooksounds.com.

On this second episode of the Pure Procurement Podcast, I am joined by Thierry Jaffry to discuss the top 10 critical success factors to consider before starting your S2P software implementation. Thierry is Vice-President for the North-American market and Global Chief Marketing Officer (CMO) of Fluxym, a global leader in Source to Pay consulting services. Thierry has been working in the procurement space for over 10 years, working in various roles with both software providers and consulting firms. Can you guess which factors came out as the most important? System selectionChoice of partnerClear project objectivesTeam selectionDeployment planSupplier Enablement (SE)Data qualitySystem customizationChange managementGovernance Show Notes @16:59 – Links to Celonis and Signavio solutions. @37:03 – Thierry mentions a Fluxym Supplier Data Quality Whitepaper. You can find it HERE @43:05 – The 12 in the “Multiply by 12” rule is arbitrary. It just needs to be a big number… ———————————Do you see any other critical success factors that were missed? Which one do you think is the most important? How would you ensure it is appropriately covered during a project? Let me know in the comments. If you liked this post, why not Subscribe Intro music provided by hooksounds.com.