Coupa Blog

Coupa is a company of talkers, passionate about sharing tips, tricks and advice for improving finance and procurement and saving companies of all sizes time and money. But we’re not the only people with opinions and ideas. We’d love to hear from you so join the conversation!

The Coupa Fast 5: Procurement present and future

Keep up with the changing finance and procurement landscape by reading the latest articles by thought leaders and subject matter experts on cloud, strategic procurement and finance.

 

Today’s fast five is all about procurement – present and future. Articles from Purchasing Insight and Procurement Leaders talk about how to squeeze the most out of your procurement efforts at present, while offerings from SupplyChain and Supply Management discuss what to expect in the future (spoiler alert: you can wear it!). Meanwhile, two heads of procurement weigh in on what they look for when assembling their teams. 

 

Coupa 1What makes a great CPO? A broad range of experience and skills

Those looking to advance as procurement professionals would do well to cultivate expertise in other areas of business. Speaking at ProcureCon Indirect, Kellogg’s director of indirect procurement Paul Jones said he likes people who've worked outside procurement on his team. Nick Jenkinson, head of indirect procurement at Arytza, adds that these people can be hard to find. Skill up to stand out! 

 

Coupa 2Be an instigator of innovation, not just a facilitator

Are you pushing your suppliers for innovative ideas? Procurement pros should take an active role in promoting supplier innovation, writes Procurement Leaders’ Paul Teague. Innovation is a team sport--companies that do best at it are the ones that encourage innovation through open collaboration between the procurement team and company stakeholders.

 

Coupa 3Visibility: What does it mean in the contract process?

Contract managers are the eyes and ears of the source-to-settle process, writes Andrew Bartolini on CPORising.com. What facets of the source-to-settle process do contract managers need to have “eyes on” for the enterprise? SLAs, existing contracts and maverick spend top the list. Modern contract management solutions can provide visibility into this process and allow all parties to stay clear of dangerous contractual waters.

 

Coupa 4Back to basics: The difference between price and cost 

How do you respond to employees reluctant to use procurement systems because they think they can get a better price on their own? For Pete Loughlin, it’s a matter of distinguishing price from cost. They may be able to find a better travel rate online than through the proprietary system, without realizing that this price is non-refundable and doesn’t include certain amenities that they’ll end up paying out-of-pocket. Lower price doesn’t always translate to lower cost.

 

Coupa 5

Wearable technology: The right fit for procurement

Will wearables become a procurement fashion statement? If you’re in procurement, you may want to find out sooner rather than later. Wearable technology lends itself well to the demands of today’s purchaser, who increasingly needs to be able to review and approve orders on the fly. One obvious obstacle is walking the line of manners and social acceptability. Still, it could be a great holiday gift idea for those who don't mind being the first person in the office wearing Google Glass and talking to their watch. Peter Kinder explores the possibilities.