Monthly Top 5 - April 2021

Author

Joël Collin-Demers
April 30, 2021 • 📖 4 minutes

Hi there,

I hope you're well!

This month I had the great privilege and pleasure of being a guest writer at Spend Matters; an organization that I respect immensely!

If you've never heard of Spend Matters, definitely check them out. They are the gold standard in Procurement technology research as far as I am concerned. They can help you drastically optimize your Procurement technology selection process with their SolutionMap and TechMatch toolset.

Otherwise, I'm just looking forward to the sunny season that's almost upon us...

Can't wait.

Enjoy this month's newsletter!

Sincerely,

Joël

Top 5 Source-to-Pay Articles - April 2021

#1 - How to Build a Procurement Transformation Business Case

Most organizations will require a business case before you can embark on a Procurement transformation journey. Simply "ticking the box" for this exercise is a wasted opportunity in my opinion. You should be using your business case exercise as the first step in your Change Management strategy.

In the following article, I outline exactly how to do that.

#2 - Deloitte Global 2021 Chief Procurement Officer Survey

Every year for a decade now, Deloitte releases a CPO survey to glean insights into the key challenges and opportunities shaping procurement organizations globally. I always feel like it's "Procurement Christmas" when this report is released. It's a great read.

This year's key takeaway:

"Looking beyond the pandemic, the recent growth in complexity, risk, and the need for external innovation may have finally opened the door for Procurement's arrival as a true strategic partner [for the business]."

Deloitte

#3 - A Great Primer of Writing a Bulletproof Statement of Work (SoW)

Whether you're writing a SoW for the first time or write them often, this article acts as a great detailed checklist to ensure you've covered everything needed to avoid trouble later.

Bookmarked!

Get your Statement of Works Right or Pay the Price
by Daniel Barnes at World of Procurement

#4 - Behavioral Science and your Procurement Change Strategy

Change Management remains and always will be the trickiest part of any Procurement transformation initiative. Why? Because the approach you used last time might not work again this time. People change. Teams change. Organizations change. Contexts change. Your messages and approaches need to change as well if they are to be relevant and effective.

But why not structure your approach around immovable behavioral science principles?

#5 - Building your Own In-House Artificial Intelligence Apps

Artificial Intelligence use cases for Procurement are slowly making their way to the mainstream in solutions like Tealbook, Globality & SirionLabs. However, I haven't seen many companies working on industry-specific AI use cases just yet.

However, for organizations with the stomach strong enough to get into the game themselves, there can be tremendous value to unlock. A great place to find partners for this endeavor is my very own Montreal, a global powerhouse in AI innovation. This newly released ecosystem map is a great way to see how you can find interesting partners within this ecosystem.

You wrote or read a great article? Send it my way, I'd love to read it.

Reply

or to participate.