Best Practices in SRM

Making 96% first time match rate possible – an e-invoicing exclusive from CONSOL Energy

Date:  April 10, 2013
Time:  2:00pm EDT 

Few things can determine a procurement executive’s performance more than relationships with suppliers. The supply base is more than just a collection of vendors that provide parts and materials. Suppliers are also among the principal sources of innovation for companies. They can suggest or help implement new product ideas. They also can provide market insight and intelligence, ideas for cost savings, and, in general, provide a company a competitive advantage. Not every supplier can do those things, of course, but those who can are truly procurement’s partners.

But, whether they become true partners and live up to their potential is entirely dependent on how procurement manages them. Supplier relationship management begins with identifying and recruiting the right suppliers and extends through nurturing them, sharing strategic goals with them, and making them feel like part of the team. And, of course, it includes working with them on cost control.

In this special Thought Leaders panel, we will discuss all these aspects of supplier relationship management. Among areas we will explore:

1. Identifying suppliers’ potential

2. Determining the right supplier mix

3. Encouraging them to be innovative

4. Working with them on cost control

5. And how to be the customer of choice for your best suppliers

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Date:  April 17, 2013
Time:  10:00am EDT/ 3:00pm BST

In 2008, this Fortune 500 energy giant, CONSOL Energy, Inc., was faced with a problem. The purchase to pay process had too many touch points, spend was maverick, reporting was patchy and unreliable, and the invoicing process was manual and inefficient. It meant finance couldn’t properly support and serve the business. And for a company in acquisition mode, this presented a wider problem: the inability to scale.

Roll on 2013, and the situation looks significantly different. Register for this compelling webinar to hear Susie West, CEO, sharedserviceslink, interview Jeanna E. Cooper, Manager of E-Services, Materials and Supply Chain Management, on what CONSOL did to deliver the following outcomes:

  • Delivered $65 million in cost saving and ROI for e-Procurement/SRM project in 5 years
  • Doubled spend being captured at requisition
  • Increased first time match rate from 40% to world class 96%
  • Doubled invoice volume from acquisitions while decreasing staff

This upfront interview will reveal the ‘hows’ the ‘don’t dos’ and the ‘critical success factors’ that your project-life depends on. And it will show how to make your P2P organization scalable for future growth.

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