August 29, 2018 News, eInvoicing

Collaboration Between You and Your Suppliers – A CPO’s Perspective

Direct Commerce is a proud sponsor of the upcoming CPO Exchange – October 16-18 in Orlando, Florida – if you are a procurement executive interested in attending, please contact us about VIP passes.

This annual gathering of senior-level industry leaders offers exceptional networking opportunities with CPO's from companies such as Disney, Flextronics, AstraZeneca, Toys ”R” Us, Ingersoll Rand, and more. You’ll have the chance to engage in interactive strategic thought leadership discussions covering a wide range of topics, including the role of new technologies in an evolving procurement landscape, and how to deploy P2P solutions to create transformational change.

At last year’s 2015 CPO Exchange, several essential issues and themes were discussed as senior leaders shared their views and insights.

During one session, W. Lamar Chesney – former CFO and CPO for companies such as Delta Air Lines, SunTrust Banks, and The Coca-Cola Company, among others – presented some frank views on supplier collaboration.

Mr. Chesney pointed out that “true collaboration” of suppliers and stakeholders extends well beyond merely improving communications to encompass sharing knowledge and building consensus to achieve common goals.

He suggested that effective collaborative interaction requires that CPOs “bring inside insights, outside while bringing outside insights, inside” to find solutions in the supplier community that create an enterprise’s “first mover’s advantage.”

At another session, Mark Wan, Vice President and Head of Strategic Sourcing at Webster Bank, explained how using advanced data visualization technologies in the procurement process helps leaders make key decisions more quickly – and how moving procure-to-pay processes to the cloud adds flexibility that’s even more essential as workforces become increasingly mobile.

In fact, one of the new topics on the 2016 CPO Exchange agenda includes implementing cloud technology – as well as aligning IT with procurement, leveraging data and analytics, and other topics.

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