Making Cents

Welcome To Our Blog. Read our opinions and perspectives on the market and share some of your own.

Spend analytics helps avoid awkward moments with suppliers

 

Working with organizations in various sourcing and dipan karumsi  Dipan Karumsiprocurement roles over the past 17 years, one of the common challenges I see is not having access to information on a timely basis. The good news is, real-time, or near real-time spend analytics is within reach for companies willing to undertake a process of continual improvement, and there is a definite competitive edge to be gained by doing so.

 

Based on what I have seen, a three-month lag from the time of spend to availability of reporting is common, and many organizations cannot get access to data about spend that took place as long as six months ago. Real-time data is almost out of the question for most organizations, because by the time they run the reports, check for data integrity and test to make sure

Read more...

The one question not to ask your startup SaaS provider

 

There’s a certain amount of risk involved for customersrob-blue-shirtRob Bernshsteyn of startup SaaS vendor. There’s also a benefit—when you’re customer number ten, you are going to get a lot of attention and resources.

As the startup grows, customers and prospects begin to ask what they believe to be the key question, "Will we get all the attention we need?”

 

I firmly believe that this is not the question to be asking.

 

At first blush, that question sounds fair. With the current industry focus on customer success, existing customers want to know that they will continue to be special. Prospects want to know if as the company grows, there will be enough bandwidth to focus on them.

 

This is natural enough. If you’re at a busy hotel and they only have one

Read more...

6 procurement leaders to follow on Twitter

Think procurement people aren't on Twitter? Think again. If you follow this blog, you know Procurement is undergoing a transformatiion, with new platforms and tools and a new attitude about becoming more strategic and influential. There's no better place to stay up to the minute with the latest news and trends affecting procurement professionals than Twitter. Here are six people to follow for some of the smartest conversation around procurement today: 

 

Spend Matters - @spendmatters


spendmattersnew@spendmatters publishes daily news from the world of procurement and supply chain management, as well as analysis of how global events impact these functions.

 

They follow all the major vendors in the space, providing updates on all the latest features and functionality.

 

They publish in-depth reports on a wide variety of procurement and supply chain related topics. We like them for their tongue-in-cheek humor and bold and bold and fearless predictions.

Read more...

The lure of the logo: What is the best startup strategy ?

 

Back in 2009, when I just raised my first round of venturerob-blue-shirt   Rob Bernshteyn capital for Coupa Software, sales got a big logo on the hook—a huge company whose cash in our coffers and logo on our website could have given our fledgling enterprise a big boost. They were looking for a multilingual, multicurrency global deployment that was right in our sweet spot--and a lot of other work that was not so much so.

 

While visions of huge commission checks danced in the heads of our sales team, an internal debate took place among company management.

 

One side said that we could get paid handsomely and leverage this logo to bring in other big logos in the same industry.

 

The other side conceded that this was probably true, but there would be a lot of custom development required to support the customer’s many unique business processes.

 

They were willing to pay over $100K a month to do co-development,

Read more...

Procurement can change the world: Educating the business to see procurement's value proposition

 

Procurement Leaders Magazine is celebrating it's 50th issue. As part of that celebration, Editor Steve Hall has written a series of articles on how procurement can change the world. In this piece, he takes a look at the impact procurement has had, and can have on business. We have to say, we like his thinking . . .

 

Anyone who’s been in procurement for a while can tell you how much it’s changed in a short space of time – looking back at old issues of Procurement Leaders Magazine, some of the topics and trends seem light years away from what’s happening today. Put yourself in the shoes of someone looking in at the function from the outside and you get a sense of why there’s such a gap between

Read more...

Winning the hearts and minds of the 99 percenters of B2B: end users

 

I walked into a 50,000-person company not too long agogabe perezGabe Perez to talk to them about some software for a business process transformation. When I started talking about software usability and end users, as I always do, and their feedback--straight up--was "We don't care about the end user."

 

Most companies aren’t that blatant about it, but that’s really where their heads are. Sadly, this is true of buyers and vendors alike. Software is usually bought to accomplish a specific goal. Salesforce is so sales management can understand their pipeline and their deals. SuccessFactors is for HR executives to run their business.

 

But no matter what it’s for, with almost any type of software you can think of, end users make up ninety-nine percent of the user base. Yet most vendors architect enterprise applications for the 1 percent of people in the company who are trained specialists, not the other ninety-nine percent who will have to transact in the system. End users are the 99 percenters of

Read more...

Punchout or you're out: Coupa partner solves punchout catalog woes

 

 

A punchout site is a connection from within your own catalog or procurement system to a supplier’s website. The punchout catalog is maintained by the supplier but integrated with the buyer’s procurement system and uses the negotiated pricing as well as any special offers or discounts.

 

For buyers, Punchout sites are a great alternative to maintaining catalog information for high-volume or rapidly changing catalogs, because it reduces their catalog maintenance efforts while keeping those purchases within your visibility and control. In fact, the most recent Coupa Benchmark calls out "number of punchout sites" as a key procurement success metric.

 

But if you’re a supplier, providing punchout capability to all the different companies you do business with can become a costly nightmare. Coupa partner PunchOut2Go is working to make it easier.

 

PunchOut2Go has its roots in web development. Web developers Brady Behrman Shawn McKnight and  were developing a site for a small hardware supplier in Richmond, VA. During development one of the supplier's biggest customers, the State of Virginia, announced

Read more...

Procurement best practices: Open the supplier floodgates

Here is a procurement best practice that sounds donna-wilczek-headshot-450Donna Wilczekcounterintuitive at first: giving all your employees access to all the suppliers you’ve done business with in the last 18 months.

 

This goes against one of procurement's textbook strategies for optimizing spend, which is limiting the number of suppliers that can be used for purchases of goods and services. When procurement professionals first hear this idea, their immediate response is, “What? There is no way I’m going to allow all my employees access to every supplier!” They imagine chaos, with employees creating orders all over the place and procurement losing control.

 

But the exact opposite happens. Giving everyone access to create requests from all suppliers gives you more control. You should be more afraid of

Read more...

Salesforce, Silicon Valley Bank CIOs weigh in on the future of IT

 

How often do you get to sit down and future of itThe title may change, but the CIO role will remain critical to the future of IT.hear what's on the Chief Information Officer’s mind? In one of our most popular sessions at Coupa Inspire 2014, 800 attendees got to sit down with five CIOs to get a reality check on on Cloud computing.

 

Ravi Thakur, Coupa’s VP Customer Success and Service Delivery interviewed Bask Iyer, CIO of Juniper Networks; Beth Devin, CIO of Silicon Valley Bank; Ross Meyercord, CIO of Salesforce.com, Curtis Miller, CIO of Amerinet and Dan Rosenbaum the Director of Technology at Land O' Lakes, to get their thoughts on Cloud computing. In this excerpt of that conversation, Beth and Ross weigh in on a topic that’s on a lot of peoples’ minds these days—the future of IT and the CIO.

 

Ravi: I think we can all agree that Cloud is here to stay.  Let's talk about how the role of IT is adjusting to this new reality. Beth, what are your thoughts?  Will there even be a CIO title

Read more...

Coupa CEO: Riding the Forrester eProcurement wave today, back to work tomorrow

 

The  Forrester Wave™: eProcurement Q2 2014 report is Screen Shot 2014-01-27 at 12.33.00 PMRob Bernshteynout, and Coupa got a great report card.

 

Compared against 10 other enterprise software companies, we got top marks for our current product, our strategy and our market presence, earning a nice big circle in the uppermost right hand corner of the famous Forrester Wave™ chart.

 

We’re both proud and humbled to be acknowledged in this increasingly important core category of enterprise software. We’re so thankful to our customers, our partners, and our fellow Coupa colleagues who together work tirelessly toward our common goals of unprecedented customer success despite any and all hurdles in our path.

 

We view this report’s outcome as both a validation of

Read more...

Like what you are reading? Subscribe to our blog.

Enter your email address: