Hey, Procurement Legends,
I’m bullish on managing contracts and supplier relationships as connected disciplines. Whether the supporting technology sits in one platform or several integrated products depends on the organisation’s scope, data and operating model.
It’s our philosophy about Vendor and Contract Management and why these need to be managed together.
Download the free eBook here: legends.
What I'm Reading
What I'm Thinking (about Procurement)
The regulatory world that will require more oversight from Procurement teams and more connectivity with your risk/compliance colleagues.
There’s a number of areas that the majority of procurement teams will need to improve to deal with this:
Flow down contract clauses
Due Diligence of your vendors/suppliers
How you access your data - spreadsheets won’t cut it
Utilising data feeds of pre-vetted risk information at scale
One Procurement Tech-Focused Insight
The wider market is increasingly using configurable smart forms to score due-diligence responses, route reviews and trigger follow-up workflows. The value depends on the underlying questions, evidence requirements and escalation rules.
AUTOMATE SCORING OF VENDOR DUE DILIGENCE FORMS AND MINIMISE RISK EXPOSURE
I’m super excited by this feature as it makes reviewing due diligence (and a a raft of other risk profiling exercises) way easier, more informative, and let’s you monitor performance over time.
If you fancy checking it out please sign up for the session next Wednesday (even if you cannot make it live - I’ll email you a recording).
One Piece of Content I've Found Useful
In this section, I promote other amazing content from fellow Substack creators. Here’s my list for this week:
from with this piece. Make sure you follow his link through to the Atlantic piece too:
piece:
World of Procurement Content Recommendations
Check this out here - make sure you get one of these books.
ICYMI
How you can Support World of Procurement Elsewhere
Digital Products (mostly free)
Thanks
Daniel