Archive for the ‘E-procurement Solutions’ Category

On the Twelve Days of e-Procurement Christmas.

Tuesday, December 10th, 2019

 

Todays post is a holiday favorite by our CEO Ron Southard from our SafeSourcing Archives.

  1. On the first day of Christmas our e-procurement service provider gave to us, a streamlined procurement process.
  2. On the second day of Christmas our e-service provider gave to us, more suppliers to source our goods from.
  3. On the third day of Christmas our e-procurement service provider gave to us, pricing that works for smallest categories..
  4. On the fourth day of Christmas our e-procurement service provider gave to us, consistent and customized product specifications.
  5. On the fifth day of Christmas our e-procurement service supplier gave to us, more time for other priorities.
  6. On the sixth day of Christmas our e-procurement service provider gave to us, improved quality in our products.
  7. On the seventh day of Christmas our e-procurement service supplier gave to us, better supplier education.
  8. On the eighth day of Christmas our e-procurement service provider gave to us, a simple award of business process.
  9. On the ninth day of Christmas our e-procurement service provider gave to us, support for a better carbon footprint.
  10. On the tenth day of Christmas our e-procurement service supplier gave to us, total category e-procurement.
  11. On the eleventh day of Christmas our e-procurement service provider gave to us, safer products for our customers and planet.
  12. On the twelfth day of Christmas our e-procurement service provider gave to us, a sustainable e-procurement process and improved corporate net earnings.

Now, ask yourself if all of these goals are accomplished on your company’s behalf by your present e-procurement service provider. If n0t, please contact a SafeSourcing customer services account manager. Click CONTACT US!

We look forward to and appreciate your comments.

Continued best wishes for a Merry Christmas  the rest of the Happy Holiday Season.

The Importance of Marketing your Brand

Wednesday, October 2nd, 2019

 

Today’s post is from our SafeSourcing Inc. archives

How are you marketing your brand? Is it bringing in the customer base you desire? Are you achieving your desired results?

Your company brand is your mark of distinction; it’s what sets you apart from your competitors. When you establish your brand, it is important to also develop a plan of execution by implementing a brand marketing strategy. Your level of commitment reassures consumers, suppliers, and anyone else that your company does business with that they can trust you.

“Brand management is so important that Reputations Corporation, a Vancouver-based consultancy group, reports that 72 percent of consumers say reputation influences their buying decisions; 80 percent of employees will accept less pay to work with a company with an excellent reputation; while another 89 percent say reputation is a tiebreaker between equal products. Whether you’re trying to influence key decision makers or attract and retain top talent, you’ll want to consider the following tips on managing your company’s brand.” (Fenn, 2010)

If you need help with: buying marketing tools, hiring the right marketing consultants or with any advertising avenues. We can assist you with your sourcing needs and look into the potential savings in the process.

SafeSourcing, Inc. provides innovative eProcurement tools that can increase efficiency and improve profitability for our customers, and provide superior value for all stakeholders. In addition to providing information, tools and services, SafeSourcing proactively supports consumer safety and environmental standards throughout the global supply chain management process. To learn more, visit SafeSourcing.com

Let SafeSourcing manage your sourcing projects. We enjoy bringing this blog to you every week and hope you find value in it. For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.

_____________________________________________________________

Ahearn, Cale (2016, September 21). : Read more: Business Ethics Definition | Investopedia http://www.investopedia.com/terms/b/business-ethics.asp#ixzz4Vx9u5zDh Follow us: Investopedia on Facebook

 

Enterprise Software RFPs

Friday, August 2nd, 2019

 

Todays post is from Ron Southard, CEO at SafeSourcing

We’ve discussed the differences between the RFPs, RFIs, RFQs, and Surveys many time and also touched on why they were different as well as when you would use one.  What we said then was that you typically want to run one of these events when you have an idea about the basic functionality of a product you need but are not sure who can provide it and what else it is they can bring that you didn’t think of.

In many cases, the road to procuring enterprise software will require one of these tools due, in part, to the fact that software can change so quickly, but also because typical decision factors like price play a much smaller role to the features and functionality of the software.

In preparing to make a major software purchase a Request for Information or Proposal can be a great first step.  Here are some things to keep in mind about the solution and the company when preparing for one.

Flexibility – One of the keys in the process of evaluating software solutions and the companies that create them is to gather information about the flexibility of the product.  A focus on how configurable the system is and how well a solution can be fitted with your company’s needs and appearance is an important part to building a good software RFP/RFI.

Reputation – A company’s reputation for delivery used to go a long way in the business world but in the wake of a tougher economy price has begun to gain ground.  In the arena of software, it is still one of the most important factors to evaluate when selecting a software partner.  Building a relationship with companies known for under promising and over delivering on a consistent and referenceable level can be a huge factor in protecting a million dollar investment.

Pricing model – The key here is not in the actual price but how the company prices that is important.  Your company’s needs will dictate the pricing model that benefits your company whether for the enterprise; per seat or per user.  How a software provider prices and what they charge you for are HUGE factors in determining if they are suited for you and your company. The more information you can gather at the RFP/RFI stage as possible is very important.

Support – There is no more important product to verify good support on than software.  As upgrades occur, employees get promoted or leave the company, new employees need training, or issues arise, the level of support a company will commit to is critical to the confidence you can place in them.  On top of this, the more mission critical the functionality the software is to support is for your company, the more important the level of support becomes.  Any software RFP/RFI you create should have a detailed section to determine what level of support you can expect from each vendor.

For more information on SafeSourcing and how we can provide RFIs/RFPs that help you focus on these important factors, please contact a SafeSourcing Customer Service Representative.

We look forward to your comments.

HEY! Leadership Teams!

Tuesday, July 16th, 2019

 

Todays post is from Ron Southard CEO at SafeSourcing Inc.

Let’s also assume that you want to drive the greatest possible savings across the broadest range of categories in the shortest amount of time, like the next budget period; and want a sustainable process moving forward. Are you comfortable with your teams answer?

A number of issues you might consider are whether you have the requisite headcount, specifications, strategy, research skills as well as knowledge of new sources of supply to accomplish these lofty goals yourself.

Once you have settled on the fact that your existing team cannot achieve the above goal, the next question should be; what type of event services can an e-procurement solutions provider offer to help us if we can’t this ourselves?

By now, let’s assume you have come to the conclusion that there is no way possible for your team to do this alone. You now need to find a reputable eProcurement solutions provider. A quality e-procurement solutions provider should be able to ramp up to your task immediately. They should possess skills that are the foundation of their past success. These are very specific skills that enable them to run large volumes of e-procurement events in a full service mode with little guidance from you that have historically driven impressive savings on products and services over a long period of time. They should be able to provide reference to where they have done this in the past and how they were able to augment other company’s staff with little interference of their day to day work. Remember, knowledge transfer; passion, skill and required headcount to carry out these practices on a day by day basis are what drive results.

This process is provided by people behind the scenes with a very specific skill sets. If you really want to drive the greatest possible savings across the broadest range of categories in the shortest amount of time, like your next budget period. And, you already know that you cannot do this by yourself, reach out to a Safesourcing customer services account manager to see how quickly we can be of assistance.

We look forward to and appreciate your comments.

It’s About Time

Thursday, January 17th, 2019

 

Today’s post is by Dave Wenig, Sr. Vice President of Sales and Services at SafeSourcing, Inc.

As we continue to ramp up another year of providing eProcurement services to our customers, it’s a good time to consider what categories you’ll be sourcing this year. In an effective eProcurement program, every spend category should be considered at the appropriate time. But how do you know when it’s time to source a category?

One of the first considerations is contract timing. Unfortunately, many organizations today don’t have good controls in place to monitor contract terms. In some cases, the contracts are even missing because they were not saved in a central repository.

That’s where a contract management tool comes in. SafeSourcing’s contract management tool called SafeContract™is a great way to manage contracts and avoid the issues caused by losing track of your contracts and/or losing track of important contract milestones such as renewal dates and contracted prices.

SafeContract™ is an online contract repository that stores, tracks, and monitors your contracts. SafeContract puts you in control of your contract and notifies the appropriate users when it’s time to consider a category for eProcurement based on contract termination. For example, if the contract requires 30-day written notice before termination, a user might set a 60 or 90 day reminder so that they remember to take action. With SafeContract™, as your contract management tool, you’ll know when it’s time to consider sourcing a category. Not only will you know when to source your categories, you’ll also avoid missing deadlines for automatic renewals and other unfavorable outcomes.

Contact SafeSourcing if you’re interested in learning more about our contract management tool or any of our full suite of Procure to Pay tools such as SafeSurvey™, SafePO™SafeCatalog™, or any others.

For more information, please contact SafeSourcing.

 

It’s About Time​

Wednesday, December 19th, 2018

 

Today’s post is by Dave Wenig, Vice President of Sales and Services at SafeSourcing.

As we wrap up another year of providing eProcurement services to our customers, it’s a good time to consider what categories you’ll be sourcing in the new year. In an effective eProcurement program, every spend category should be considered at the appropriate time. But how do you know when it’s time to source a category?

One of the first considerations is contract timing. Unfortunately, many organizations today don’t have good controls in place to monitor contract terms. In some cases, the contracts are even missing because they were not saved in a central repository.

That’s where a contract management tool comes in. SafeSourcing’s contract management tool, called SafeContract™,  is a great way to manage contracts and avoid the issues caused by losing track of your contract terms, or even entire contracts.

SafeContract™ is an online contract repository that stores, tracks, and monitors your contracts. SafeContract™ puts you in control of your contract and notifies the user when it’s time to consider a category for eProcurement based on contract termination. For example, if the contract requires 30-day written notice before termination, a user might set a 60 or 90 day reminder so that they remember to take action. With SafeContract™ as your contract management tool, you’ll know when it’s time to consider sourcing a category. Not only will you know when to source your categories, you’ll also avoid missing deadlines for automatic renewals and other unfavorable outcomes.

Please Contact SafeSourcing if you’re interested in learning more about our contract management tool or any of our full suite of Procure to Pay tools.

 

 

 

 

 

Evaluating eProcurement Solutions – Part 5 of 5: Service

Thursday, December 6th, 2018

 

Today’s post is our SafeSourcing Archive!

Strategic sourcing companies each have their own unique offering whether that is based on a price model, category focus, supplier database or some other defining trait, but the overall goal is to help their customers source products and services easier, smarter and with an end result that creates more value than the customer could achieve on its own. Over the past four days we will be looking at some of features and characteristics you should be looking at when evaluating a new or existing sourcing partner. Today we will close out the series by focusing on the one trait that should be examined closer than any of the other five; Service.

Having great data, tools, reporting, or technology will only be as good as the team helping you to run new projects and your partner should be as strong, if not stronger in their customer service offering than anything else they do. Today we will look at a few of the specific areas you should be looking at when evaluating your current or a new strategic sourcing partner.

Experienced – Sourcing experience across dozens of category is not something that every strategic sourcing has. There is a reason why some sourcing partners focus on travel, energy, and logistics only for their customers. Experience in sourcing events from both a consumer, sourcing partner, and supplier side is a big key to understanding the perspective of all the parties involved. This experience helps with the management of the suppliers as well as that of the customer to keep the projects moving and details and communication delivered. Well rounded strategic sourcing companies will have had sourcing experience in IT related products and services, software, warehouse materials and equipment, construction related goods and services, temporary services, For Resell goods, transportation and logistics, commodity goods, and normal indirect spend items to name a few.
Supplier management – The most difficult task in running a sourcing project, outside of collecting the data necessary to run the event, is managing the suppliers during the process. Management begins as soon as suppliers are contacted to participate in the event. Your strategic sourcing partner should be able to assist you with fielding all questions from suppliers, speaking to suppliers on your behalf to get them engaged in the process, handling objections they may have about the process, and training them on how to follow the process and tools with live support. Once a sourcing project begins, your strategic sourcing partner should manage the process and all communications so that your team can be allowed to focus on the important things they will do later. Support should continue through the entire process all the way until the project completes and suppliers have submitted everything requested.

Post event support – In some cases once the sourcing event is completed, handling and communication of the suppliers selected for award goes back to the customer. In many other cases, the sourcing event (RFI, RFP, RFQ) is just the beginning of the evaluation process. Many times samples will need to coordinated, presentations scheduled with the selection committee, scorecards and evaluation materials developed and distributed to the internal decision makers as well as agendas to the suppliers. These are all ways that good strategic sourcing partners stay involved and take the load of the sourcing process off of the customer. Many times the suppliers are used to the customer service member they have been dealing with and having that same person take them all the way through the process is a big advantage to the process going smoothly.

Many things should be looked at when evaluating a strategic sourcing partner and depending on the structure of your department, some characteristics will be more important than others but all should be considered at some point. For more information on how SafeSourcing can assist your team with sourcing projects or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

We look forward to your comments.

Evaluating eProcurement Solutions – Part 4 of 5: Tools

Wednesday, December 5th, 2018

 

Today’s post is from our SafeSourcing Archives

This week we have been looking at the different characteristics strategic sourcing companies and solutions have that should be evaluated when making a decision as to what is most important to your company. At the beginning of the week we looked at technology, data and reporting capabilities and the different aspects of each and the importance they could play in sourcing projects. Today we will look at the different types of tools strategic sourcing companies can sometimes offer that can make your job as a procurement professional event easier.

Information Gathering – In Tuesday’s blog we discussed the importance of a good supplier database and template library foundation to beginning a sourcing project. This addresses the external data but does not always help explain the internal spend data and specifications especially when the category is a new one to your company. Being able to send electronic surveys to resources within your company in a way that requires very little effort can save a procurement team hours of time in legwork but, more importantly, can ensure that the picture of your spend you are painting for potential suppliers is accurate. Being able to understand who in your company is buying something, what they are buying, how much they historically purchased, how much they expect to purchase and whether they like the current product and supplier are all details which will shape a very successful event and can be easily collected with an online survey tool.

RFx – The concept of moving from Request to Information to Request for Proposal to Request for Quote/Tender is not a foreign one in the procurement industry and virtually every strategic sourcing company offers some type of tool or service to support this flow. Where the differentiator begins to come in is how seamless the flow from one step to another is. Do suppliers need to learn multiple tools? Is it online? Are details from step automatically moved over into the preparation and documentation of the next step? Each step of the RFx process is unique but has common threads that tie each together. Good RFx solutions will tie these threads together in a way that reduces the time it takes run from beginning to end and the amount of repetitive tasks required of the suppliers with each step.

Result Management – The information is gathered, the project is complete and the results are better than you could have expected. The problem is that without the tools to put those results into effect, they become worthless. Being able to manage the results of your sourcing events is considered by many to be more important than the results themselves and can take several different forms. Top begin with is a catalog/ordering/purchase order system that will allow your company to place the orders they need at the new pricing you have negotiated. Implementing a catalog system can also prevent rogue spending from unapproved suppliers based on past history. Another useful solution is a contract management tool to track your contracts and important details and dates, ensuring that the contract will not roll over into a situation that costs you even more money than you saved. Managing both aspects of a new deal are critical to maintaining your project’s success.

Having covered the technical, data and tool aspects of strategic sourcing partners and tools, tomorrow we will conclude with the most important piece of the puzzle which is the service your strategic sourcing partners can offer you that can save your team hundreds of hours and provide experience where you may have none. For more information on how SafeSourcing can assist you or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

We look forward to your comments.

Evaluating eProcurement Solutions – Part 3 of 5: Reporting and Audit Trails

Tuesday, December 4th, 2018

 

Today’s post is our  SafeSourcing Archives.

Strategic sourcing companies each have their own unique offering whether that is based on a price model, category focus, supplier database or some other defining trait, but the overall goal is to help their customers source products and services easier, smarter and with an end result that creates more value than the customer could achieve on its own. This week we have looked at the importance of data and technology when making a decision on a strategic sourcing partner and today we will be looking at the reporting and audit trail capabilities and how they fit into the mix of successful events. The best supplier research and technology will not be useful without the view of results in a way to make meaningful decisions.

Strong base reports – Every eSourcing solution has a standard set of reporting that they provide their customers when an event is complete. There are certain aspects of this report package which should be present in order to review the most basic details of an outcome. Supplier activity should be captured in a way that timestamps every quote entered in the system and who entered it. This is also part of the audit package described below. Any online notes should be reported on as well as the supplemental documentation many suppliers provide. The final outcome in a detailed and summary view should be provided as well as copies of all of the documents that were involved in the sourcing process. Basic award scenarios and supplier performance during the process should also be included in a standard spreadsheet or executive summary style report.

Capable of additional analysis – As important as the base set of reports you get from event are, the capability of your strategic sourcing partner to be able to provide additional analysis is just as important. There will be times when special circumstances surrounding the event need to be considered, or the way an incumbent factors into an award decision must be reviewed. Your sourcing partner’s ability to provide scorecards, provide additional award scenario details or break down situations where a primary and secondary supplier need to be awarded by location are all realistic and important ways that they can help save your team dozens of hours and allow them to do the other things they need to do for your company.

Audit Packages – There are usually not many times when a company will need an audit trail of what happened during a sourcing project but typically when they do it is of critical importance. So when evaluating technologies or partners make sure they can provide a package that includes copies of all documents and electronic versions of communications that went to any potential supplier. They should be able to provide time stamped documents of all notes and quotes entered into the system as well as who entered them for the supplier. All verbal communication and questions submitted by a supplier to the customer should be captured in a central place that either be accessed by the customer or by the administrators for reporting purposes. This package should be easily available and contain the trail of all communication with the suppliers.

Tomorrow we will look at some of the sourcing tools that are available and being used by many companies. For more information on how SafeSourcing can assist you or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

We look forward to and appreciate your comments.

Evaluating eProcurement Solutions – Part 2 of 5: Data Foundation

Friday, November 30th, 2018

 

Today’s post is our SafeSourcing Blog Archives

We have begun looking at some of features and characteristics that are important when evaluating a new or existing sourcing partner this week beginning yesterday with technology. While not all characteristics we will cover will carry the same weight from company to company, they are all important factors for consideration when selecting a strategic sourcing partner or solution. In today’s segment we will be looking at the data that supplies the backbone for the projects you work on with your sourcing partner.

Global coverage – While there are obvious advantages from working with National, regional and local providers, it is important to be able to look at other global sources of supply. Having the options gives leverage to be able to make decisions as it relates to primary and secondary sources of goods and services. This is especially true for global companies who need to source goods and services local to their international offices. Working with a supplier that has a global supplier database is important to be able to develop a view that looks at all options of origin.

Feeding itself – Data by itself is useful, but data that gets smarter and fresher be leveraging the fruits of its labor is the key to running a better sourcing organization. For most companies the limited view they have of the supplier community goes only as far as their own experience or research. When you work with a third party strategic sourcing partner and/or tool, you are getting the benefit of experience that company has had with those suppliers, products and services. If a supplier has been great to work with, you should be getting the advantage of knowing that from your sourcing partner or tool. Likewise, if a supplier has not done well with delivering after an award of business, access to that information should be available as well. As thousands of sourcing projects complete each year the data you are looking at should be leveraging that information as much as possible.

More than the basics – Along the same lines as “feeding itself” your data should be more than just the basics about who a supplier is, where they are from and how big they are. Strong supplier databases should provide the level of detail on par with a mini-RFI before a project ever begins. This data should include who their biggest competitors are, what new products or releases they have completed in the last 2 years, who they are doing business with and where their core strengths lie. This should also apply to categories and having access to template libraries with starting documents for RFIs, RFPs, and online bidding specifications.

Data is still the key to succeeding in the business world. The more information you can get to help make informed decisions before projects begin, the quicker your projects and results can be put into effect and realized by your financial department. Tomorrow we will take a look at the points to consider from an audit perspective and how your eSourcing solution should be helping to provide you the trail of communication during a sourcing event. For more information on how SafeSourcing can assist you or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

We look forward to your comments.