5 Steps CFOs Can Take Right Now to Get Ahead of a Coronavirus Recession

March 18, 2020By Niki ParekhBlog, COVID-19

As global demand continues to drop for many goods and services, fears of a worldwide slowdown and a “coronavirus recession” loom large over corporate leaders. Chief Financial Officers (CFO’s) are scrambling to do sensitivity analyses to understand their profit outlooks and cash needs. Procurement and sourcing teams can play a significant role in reducing supplier spend and improving cash flow by using spend analysis to leverage data in the ERP, contract management, and procure-to-pay systems

How Procurement Innovators Drive Outsized Savings

November 6, 2019By Niki ParekhBlog

The most innovative procurement teams in the industry are driving outsized results, achieving 1.5x greater savings per year than their peers, greater spend under management and better reputation across business stakeholders. Everest Group did a deep dive into the core drivers of success and discovered 6 distinctive drivers: innovation strategy, analytics adoption, strategic sourcing, risk … Read More

What Does the ScoutRFP Acquisition Mean for Procurement?

November 5, 2019By Niki ParekhBlog

Today, Workday announced the $540m acquisition of a procurement SaaS start-up called ScoutRFP which has created an easy to use request for proposal (RFP) tool for procurement teams. Using ScoutRFP, procurement teams and stakeholders across the business can email suppliers to compete for an opportunity at their enterprise. Scout created a pipeline product which allows procurement … Read More

How to Expense Your $500 Uber Ride (And Get Away With It)

September 24, 2019By Niki ParekhBlog

A Suplari Origin Story: As the CFO saw the data, she yelled, “Are you telling me that an employee expensed a $500 Uber ride?  Where were they going?  St. Louis?  I want to know who the employee is, who their manager is, where they were going, and how this expense got approved!” For every CFO, … Read More

Recession Warning Signs Are Flashing Red

August 19, 2019By Niki ParekhBlog, COVID-19

Procurement & finance teams and anyone with a 401k witnessed the extreme volatility of the stock market during the week of August 12th.  The financial markets are predicting a near term recession. The US-China Trade War is causing a global slowdown.  It is hitting Asia and Europe first. The US economy seems very strong right … Read More

Top-of-Mind for Today’s CPOs? Providing Strategic Value

June 5, 2019By Niki ParekhBlog
Last month I joined procurement leaders from both public and private institutions at the New York City CPO Event. I was thrilled to be included among some of the visionaries who are redefining procurement’s role in the modern enterprise. Here’s a few thoughts shared by the procurement professionals on the panel discussion we sponsored called [...]

The Advantages of AI in Procurement are Closer Than you Think

May 20, 2019By Niki ParekhBlog
At last week’s Western Region SIGnature (Sourcing Industry Group) Event, I spoke to sourcing and procurement professionals here in greater Seattle. As usual, AI was a hot conversation topic, but the focus of the discussion has evolved.  A few years ago, when people were just beginning to explore AI, conversations began with “What can AI [...]