The Coupa Fast 5: Filling the Digital Leadership Void
Who should lead organizations into the digital future? How involved should procurement be with payments? Can you automate and centralize procurement without centralizing AP? Leaders at Coupa customers Juniper Networks, TD Bank and Molina Healthcare contribute their thoughts on these matters, and we also look at two new supply chain and procurement studies.
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In many instances, a company’s most promising digital leader is the CIO, says Bask Iyer, CIO of Juniper Networks. "Good CIOs have experience leading the organization through transformation. They have the real world experience of delivering change over and over again.”
Payment comes at the end of the procurement process, so not your job, right? TD Bank's Carolyne Booth argues that recognising the value of payment terms and activities in the procurement process is actually core to good procurement and deserves more attention than it sometimes receives.
Accounts payable and the cloud may hold the secret to providing quality healthcare. At least that's what Molina Healthcare discovered when it created an in-house centralized procurement operation, a move that kept administrative costs down while it expanded staff and membership.
An Accenture Strategy study found only 48% of 1,014 companies using technology “extensively” in their emerging market supply chain. Such tools are vital for making decisions in uncertain market conditions. Organizations with a strong commitment to technology and a digital supply chain were more likely to enjoy rapid growth than those without.
A recent UK study found that top procurement teams generate almost a million pounds in financial benefits per employee per year. However, very few organizations have the ability to measure, and therefore manage, procurement value.