This Week in Consulting
Wednesday, May 15th, 2019
A Tool for Every Job: How the Right Digital “Power Tools” Can Promote Procurement Transformation
THIS WEEK’S MUST READ
“Once upon a time, procurement organizations had to resort to a motley assortment of “best-of-breed” technology solutions — a contract management application, a sourcing solution, an e-invoicing tool — in the quest for digital transformation. But recent surveys of CPOs indicate increasing recognition that a single, unified source-to-pay solution is “the right tool for the job” — providing a more modular, flexible and user-friendly technology approach that can radically transform operations and redefine value within the function.”
This Week’s Must Read : This new paper from Supply Management Insider and GEP explains how procurement teams can reach new heights of efficiency and effectiveness when their digital tools enable true versatility, collaboration and responsiveness to customer needs
Read on to Find out More: “A Tool for Every Job: How the Right Digital “Power Tools” Can Promote Procurement Transformation“, GEP
THIS WEEK’S VIDEO:
For most companies, procurement is an area of significant under-investment. So how do you convert your traditional “purchasing” department into a self-funding, ROI-generating strategic asset?
INDUSTRY NEWS & INSIGHTS
- Big Four firms growing strongly in Germany and Australia: In line with predictions from some of the market’s leading researchers, the Big Four’s consultancy services undeniably benefited from Brexit in 2018. | Consultancy.uk
- Fintechs Founded by Women Are Better Investments, KPMG Finds: That’s the conclusion from KPMG, which surveyed 91 financial-technology companies in the U.K., including nine where at least one founder was a woman. | Silla Brush
- KPMG Lakehouse embodies firm’s rich culture and commitment to lifelong learning and innovation: KPMG anticipates offering more than one million hours of in-person professional development at its $450 million learning, development and innovation center, which will be known as KPMG Lakehouse. It is scheduled to open in January 2020 in Orlando’s master-planned community of Lake Nona. | Matthew Gomez, KPMG
On the same theme,here is a selection of conferences that you might find useful
Sharpen your competitive edge-Transparency and Profitability: The Agility & Transformation Forum is dedicated to helping you and your team deliver hyper-performance and competitive advantage to your wider business, through increased Trust, Transparency & Profitability.
Smart Procurement & Strategic Sourcing: In today’s ever changing and complex business environment, sourcing and procurement plays an increasingly critical role in fulfilling strategic objectives. Smart Procurement & Strategy Sourcing – Saudi Arabia will feature a journey into achieving procurement excellence while it contributes towards Saudi Vision 2030
- Eight levers for driving M&A value through the supply chain: The procurement function typically delivers 50-70% of cost synergy targets. Yet supply chain integration often is not considered until late in the deal lifecycle. A thoughtful and tightly executed plan to capture this value in the supply chain can not only help deliver on short-term cost synergy targets, but also set up the organization for long-term profitability. | Jeff Schlosser, Abhi Ahuja, EY
- Digital Procurement: Purchasing is specifically challenged to capitalize on digital transformations, which represent the opportunity to cross the next frontier of cost optimization and achieve previously unheard-of cost savings. There moreover exist greater efficiencies to be gained in how the procurement function operates. | Xavier Nouguès, Thierry Mennesson, Steve Scemama and Denis di Vito, Oliver Wyman
- Demystifying Artificial Intelligence: Artificial intelligence is receiving a lot of attention, as it has the potential to not only transform value chains but also disrupt entire industries. This poses a real threat to companies that hesitate to investigate the potential of AI. Unfortunately, the actual use cases of AI are far too often clouded by hype and misunderstandings. | Mark Jensen, Implement Consulting Group
- Procurement is going digital, but not overnight :While many companies are accelerating e-procurement, businesses are still dealing with such roadblocks as limited technology budgets and lack of expertise in data management. | Mark Brohan
Consulting Quest wishes to organize a series of webinars with experts, if you are interrested and / or if you wish to make your contribution, please contact us by clicking below. Thank you !
- The Creative Consulting Company: This paper introduced several consulting firms that brought in important new ideas which extended management theory and improved management practice. | Harvard Business School
- Why oil and gas companies are transforming business models to sell services into your home:The energy sector is disrupting itself because it needs to. The incumbents, the big energy players, also have an interesting evolution ahead because more demand is coming. | Financial Times
- All About Operational Consulting: Moving Beyond PowerPoint to Add Real Value to Companies? What if you want to advise companies but you think that traditional management consulting and investment banking add no value? | Nicolas Doumenc, Wild is the Game
- 10 Essential Skills Needed to Make an Excellent Consultant: If you are embarking on your career or taking your first steps into the world of work, here are the top ten skills needed to be an effective consultant. | ROJO
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
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