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Welcome to the 3rd Episode of Xeeva Spotlight where we feature the people who power Xeeva.    In today's episode of Xeeva spotlight, we interview Christopher Hudson- Vice President, People at Xeeva. With 20 years of both strategic and tactical experience in talent management programming, he believes a world-class culture to be the driving force behind business success..    In this featured interview, David A. Stone and Christopher Hudson discuss the benefits of working for a start-up...

Blog

Hertz Becomes a Preferred Supplier in Xeeva Marketplace

October 18, 2022 | Praket Sharma

SOUTHFIELD, MI, October 18, 2022 – Xeeva, a leader in AI-powered spend management and procurement is excited to announce that Hertz has become a Preferred Supplier in Xeeva Marketplace and is now serving Xeeva customers with great pricing on car rentals!   This partnership allows Xeeva customers to have direct access to Hertz and do business with them in multiple ways. Customers will be able to engage with Hertz by running Sourcing Events on our Sourcing solution...

Welcome to the third episode of our “Partner Showcase” series, where we feature Xeeva’s exclusive partners. This week on Partner Showcase, Andrew Madera, Account Executive of Partnerships at Xeeva, interviewed Milan Otajovic from Insight Plum, one of our partners.   Insight Plum is a Procurement Technology firm based out of Dubai and is the world's leading provider for all emerging tech in Procurement. Through their exclusive collaboration with prominent tech start-ups, they offer comprehensive procurement technology...

Blog

Xeeva Partner Showcase – Beltrees

September 27, 2022 | Praket Sharma

Introducing a new episode in our “Partner Showcase” series, where we feature Xeeva’s exclusive partners. This week on Partner Showcase, Andrew Madera, Account Executive of Partnerships at Xeeva, interviewed Traci Nichols (VP Procurement Transformation) from Beltrees Consulting, one of our partners.   Beltrees is a Procurement consulting firm that offers a network of consultants that specialize in procurement and supply chain, allowing you to have options not readily available with other traditional consultancies. Beltrees leaders have...

Blog

Public Catalogs available for Xeeva Procure-To-Pay customers

September 6, 2022 | Pallavika Barthakur

Xeeva is proud to introduce another feature that makes catalog maintenance more convenient: Public Catalogs.    If you are using the Xeeva Procure-To-Pay application, your Super Administrator can turn on this feature and make these Public Catalogs available to your sites/locations and for respective requestors at these sites.    Suppliers participating in the new Public Catalog program are updating their catalogs on a regular basis, which means no catalog maintenance effort on your side.  See below the...

Blog

Why do I need my data transformed as the first step in my Digital Transformation Journey? 

September 2, 2022 | Steve Griffiths , Chief Strategy Officer, Xeeva Inc.

Procurement is under unprecedented pressure today to manage pricing and supply, but do you really know what you are buying, where you are taking price increases, and on what items are lead times inflating? How good is your ERP spend data? Because garbage in, garbage out.   Most companies would agree that a large percentage of the spend data in their ERP systems are misclassified or unclassifiable, and analyzing bad data will get you bad...

SUPPLIER SHOWCASE ALERT!!   This week on Supplier Showcase, Quinn Phelps, Supplier Partnerships and Success Manager for Xeeva Marketplace, interviewed Beth Firgau from Pride Veteran Staffing, one of our preferred marketplace suppliers.  You will learn about:  Providing Value to Customers as a Woman and Veteran Owned Business.  How do staffing companies provide long-term staffing options during COVID?  How does Pride Veteran Staffing provide value to its customers?  How Pride Veteran Staffing Provides Value to Customers in...

Today we are Introducing the first episode of our new series “Partner Showcase”, where we feature partners that power Xeeva. This week on Partner Showcase, Andrew Madera, Account Executive of Partnerships at Xeeva, interviewed Mayank Chandla and Milan Otajovic from Insight Plum, one of our partners.   Insight Plum is a Procurement Technology firm based out of Dubai and is the world's leading provider for all emerging tech in Procurement. Through their exclusive collaboration with prominent...

This week on Supplier Showcase, Quinn Phelps, Supplier Partnerships and Success Manager for Xeeva Marketplace, interviewed Daniel Negro & Jim Becher from Augusto Digital, one of our preferred marketplace suppliers. Augusto Digital is a member of Xeeva’s Supplier Marketplace and has proven that they can provide a high-quality product on a consistent basis for our customers. They provide IT services for their customers by building customized software for their customers' needs. They specialize in Cloud-Native...

Welcome to the 2nd Episode of Xeeva Spotlight where we feature the people who power Xeeva.    In today's episode of Xeeva spotlight, we interview Nina Vellayan- President & CEO of Xeeva. With over 25 years' experience, Nina has a successful background with private and public companies, large and small companies, enterprise SAS and building high-performance management teams. Nina has a unique entrepreneurial leadership style that has repeatedly shown measurable results due to her effective planning,...

Welcome to the very first episode of Xeeva Spotlight where we feature the people who power Xeeva.     In today's Xeeva spotlight episode, we interview Uli Muench, Executive VP of Operations and Professional Services at Xeeva. We reminisce about his corporate journey from large-scale companies like SAP to a startup like Xeeva. In this featured interview, David A. Stone and Uli Muench discuss the benefits of working for a start-up like Xeeva, what differentiates Xeeva from...

Blog

Xeeva and Insight Plum form strategic alliance

June 15, 2022 | Praket Sharma

Southfield, MI – Xeeva, a leading provider of procurement software solutions is excited to announce a partnership with Insight Plum, a Procurement Technology Services Firm.   This collaboration will allow Xeeva to offer procurement strategy and managed services supported by a leading AI-driven, cloud-native procurement platform and software solutions to Fortune 500 and Global 2000 enterprises worldwide.   By combining Xeeva’s feature-packed intelligent solution suite with Insight Plum’s service focus, this partnership will allow customers to transform...

Artificial Intelligence (AI) is sweeping the software ecosystem, generating tons of buzz from customers and software providers alike. Today every company strives to have an intelligent capability that claims to transform data or automate tasks. It’s hard to distinguish if your application actually has an AI/ML-driven engine or if it’s just a BI tool with automation of manual tasks? Often, vendors claim to use Artificial Intelligence (AI/ML tool), where they might simply be using Business...

Procurement professionals today face numerous challenges in our perilous economic climate. Most companies are experiencing increased operating expenses due to inflationary pressures, supply chain disruption, supplier fraud, and loss of staff which all add pressure to your already overworked team.    Xeeva is here to help! We exist to solve our customers' procurement problems by providing strategic resources to help with your Digital Transformation.    Watch the Animated Video Here   Digital Transformation is more than just cost...

This week on supplier showcase we had Quinn Phelps, Supplier Partnerships and Success Manager for Xeeva Marketplace, interview one of our preferred suppliers, Peter Koury from TA Industrial.    TA Industrial is a member of Xeeva’s Supplier Marketplace and has proven they can provide high-quality products on a consistent basis for Xeeva customers. They specialize in Production Finishers, Metal Fabricators, Abrasives, and more and can provide them at a low operational cost. They take an individualized...

Southfield, MI – Xeeva is excited to announce a new strategic partnership with the Global Management Consulting Firm ThouCentric.   ThouCentric is a niche management consulting firm solving complex business problems across industries and functions. They specialize in BPO optimization and assist companies in accelerating their path toward digitalization.   ThouCentric believes in solving classic business problems by addressing 3 pillars - people, process, and technology in their solutions. They help clients make better business decisions, optimize...

Digital Transformation has been a phrase on the mind of every procurement professional since the pandemic hit. Organizations have been looking for digital solutions to help them optimize their internal processes and stay competitive with the market.   This weekend, our Executive team was at ProcureCon delivering a Keynote Presentation detailing how companies can leverage digital solutions to surface savings opportunities leading to Better Data, Better Insights, and Better Outcomes.  Watch the Full Presentation here: https://youtu.be/vldGOVi6JBc ...

This week our President & CEO Nina Vellayan sat with Lance Younger on this week's ProcureTech Stars Interview to discuss her thoughts on guided execution, platforms, data journeys, autonomous sourcing, intelligence, promoting passionate team members, and her love for vodka martinis! Below is a summary of the interview. Or follow this link to read the Full Transcript:  https://www.procuretech.co/blogs/procuretechstars-with-nina-vellayan/  What’s Xeeva’s mission and USP?  Our unique selling point (USP) starts with cleansing, normalizing, and enriching the...

Pete Baltes, SVP of Corporate Sales for Magid is interviewed by Quinn Phelps, Supplier Partnerships and Success Manager for Xeeva Marketplace. https://youtu.be/dJhYRzRPd-c Magid Glove and Safety is one of Xeeva’s leading members in Xeeva’s Supplier Marketplace. They have been a member of our Supplier Marketplace for a few years and have worked with a variety of our customers providing them a high quality of Safety Solutions and PPE Equipment on a consistent basis. Today, we...

Blog

How to Choose a SaaS Provider in 5 Steps

October 7, 2021 | Pallavika Barthakur

The industry is flooded with numerous software solutions, and it is not easy to select the best tools to serve your business needs. Choosing the right solution is a critical decision and knowing your criteria before getting too deep in decision making is a huge benefit. Here’s a 5-Step Approach on how to choose a software package for your business.  1. Business Roadmap:   Once the business owner decides the roadmap of the business, the market, and the target customers, how the business solution is going to impact...

Business Strategy

Share your ideas to improve Xeeva’s applications

June 18, 2021 | Sneeden Mouzon

Do you have an idea for improving the Xeeva platform? Read below to see how to submit your ideas and what happens next! What is an Enhancement Request? An Enhancement Request is a suggestion for an improvement or change to the existing solution. It is not a request to fix a 'a “bug” (something broken that is supposed to be working). Enhancement Requests can come from a variety of sources, such as a support ticket...

Blog

The Ultimate Guide to the Data Journey from Data to Insights

June 8, 2021 | Pallavika Barthakur

Every human, business, government entity, public or private organization depends on data-based facts and evidence to make day-to-day decisions. Whether quick, agile, based on extended discussions, or based on an in-depth analysis of data, all decisions require supporting data. The question is, where and how does an entity get its underlying data from? And how does an organization process that data to generate information that forms the basis for its decision-making? This is the foundation for the use of data, data analysis, and data-based analytics.  How...

Procurement and purchasing activities and improved spend management have always been competitive factors for an enterprise. Managing key supplier relationships and costs contribute directly to bottom-line profits. Controlling indirect procurement spending can introduce various cost-saving opportunities and help organizations improve their operating costs. Three areas in which companies try to curtail their procurement and purchasing costs are reduction in spot buys, controlling the maverick spend, and managing tail spend. Each one can be optimized to...

Spend Analytics

Preparing Your Data for Xeeva Spend Analytics

February 26, 2021 | Tony Hirth

Whether your organization is large or small, utilizing Xeeva’s Spend Analytics platform is the first step in gaining control of your indirect spend. Accessing your indirect spend data to share with Xeeva can sometimes appear to be an overwhelming task. This blog aims to guide you through what you need to do to prepare to send your data and explain how our team can help. There can be several challenges in collecting this data –...

Announcements

Goodbye 2020, Hello 2021: Xeeva’s Year in Review

January 1, 2021 | Marissa Bialick

Let me just start by saying: what a year! From racial and social justice to the novel coronavirus, the global economy and organizations of all sizes and across all industries were disrupted in some way or another. People everywhere were forced to adjust to new personal and professional challenges. It’s been a transformative year, to say the least, and that’s been true for our team as well. They say hindsight is 20/20 but what we’ve...

As a new Xeeva Spend Analytics customer is being onboarded, we often get asked “what happens to my spend data?” After the hard work of collecting all the details has been done and a complete data set has been handed over to the Xeeva team for processing, it’s common for you to wonder what exactly we’re doing with your data. You may hear that it could take several weeks to organize, cleanse, and categorize your...

Business Strategy

Planning for the future with digital procurement

November 24, 2020 | Suhina Lal

“What will the future look like?” has become the question of 2020. At this year’s OESA Automotive Supplier Conference, industry experts and senior automotive executives joined virtually to discuss how the industry will continue as it settles into a new norm and focuses on the future once again. Following the event’s theme of “Journey Back to the Future,” the 3-day conference consisted of a variety of conversations that included the industry impact of the coronavirus,...

With the advent of SaaS applications, companies have been able to take advantage of quick implementations and a short time to value. However, exchanging data among a new SaaS application with other SaaS and on-premise applications is sometimes an afterthought. This is especially common when a business unit decides to use a cloud software application to solve an urgent business problem without a representative from IT involved. Connecting IT systems properly for the exchange of...

We recently attended the ProcureCon MRO virtual event that brought together senior-level maintenance, repair, and operations (MRO) procurement innovators representing some of the world’s largest manufacturing companies. Although the event was held behind computer screens, industry experts, practitioners, and solution providers gathered virtually to discuss the various ways organizations have been impacted, how to better manage risk, and how to proactively respond for the future. Read on to learn our most valuable takeaways. Now is...

Spend Analytics

The importance of managing tail spend, maverick spend, and spot buys

September 10, 2020 | Aparna Gude

Procurement activities and improved spend management have always been competitive factors for an enterprise. Managing key supplier relationships and costs contribute directly to bottom-line profits. Controlling indirect spend can introduce various cost-saving opportunities and help organizations improve their operating costs. Three areas in which companies try to curtail spend management are reduction in spot buys, controlling maverick spend, and managing tail spend. Each one can be optimized to yield better results for organizations, and having...

Business Strategy

4 fundamentals to supercharge procurement teams in the new normal

August 19, 2020 | Xeeva Team

In what’s become our new normal, category and commodity managers, procurement directors, chief procurement officers, and others in the procurement and sourcing departments joined virtually for ProcureCon Indirect in late July. The theme of the event was “Coping with New Procurement Realities and Applying Lessons from 2020” with many of the sessions focused on procurement’s role in reopening post-COVID, cost savings, building resiliency in the indirect supply chain, and best practices to reshape procurement. Thinking...

Spend Analytics

3 functions of a good spend analytics tool according to Spend Matters

August 4, 2020 | Marissa Bialick

The rise in digital transformation has led to a massive increase in data as the systems used at a company continue to grow. In fact, the 2019 Deloitte Global CPO Survey showed that 59% of CPOs believe analytics in procurement will have the most impact on their businesses over the next two years. As data grows exponentially, procurement leaders today are dealing with: Increasing data complexities Poor master data quality The inability to generate analytics...

Business Strategy

What you need to know about Xeeva’s product release upgrades (FAQs)

June 24, 2020 | Matt Leigh and Ashutosh Verma

At Xeeva, we know that our customers’ success in using our products is vital for our success. So when it comes to product releases, we want to make sure that those who use our spend management software are in the know and properly prepared for any upgrades that may occur. In this blog, we’ve laid out some of our most frequently asked questions around product release upgrades to help our customers have a better understanding...

Spend Analytics

Purchase Price Variance (PPV) – It is Really Simple

June 22, 2020 | Aparna Gude

No matter the industry, managing spending is always a fundamental focus for any executive team, and nothing impacts spend as much as variation in the purchase price of goods and services. Purchase price variance (PPV) is one of the key metrics – arguably the most important metric – used by procurement teams to measure the variation in the price of purchased goods and services. It is a prime measure of how effective the procurement team...

Spend Matters SolutionMap, an extensive independent benchmark of procurement technology providers has been published multiple times for the last several years. Procurement professionals have been using these SolutionMaps to track market development and disruptors, assess provider capabilities based on their needs, and identify their best-fit provider shortlist. So how did Xeeva fare on the 2020 spring release? On the latest Spend Matters SolutionMap release, Xeeva was ranked as a solution leader in both the Spend...

In contrast to direct procurement, indirect spend includes everything that goes into running a business that isn’t directly tied to the end product, such as maintenance, repairs, and operations (MRO), marketing, facilities, consumables, fleet, freight, travel and IT. Although it can make up as much as 50% of a company’s total purchases, it doesn’t often get the attention it should. The problem with ignoring indirect spend, however, is that you could be missing out on...

Procure-to-Pay

Defining spend leakage: why the traditional definition isn’t enough

February 13, 2020 | Xeeva Team

We recently held a webinar with Spend Matters about ways procurement organizations can put a stop to spend leakage. Before explaining how to stop it however, it is important to define what it is – and why traditional definitions may not be enough. Read on or watch the short clip below to learn about some common definitions of spend leakage from our Chief Strategy Officer, Steve Griffiths, and our VP of Automotive Practice, Amarish Kapadia! ...

Procure-to-Pay

ProcureCon MRO 2019: Driving Change in MRO with Technology

November 6, 2019 | Xeeva Team

Last week, we joined Chief Procurement Officers, heads of indirect, and maintenance, repair, and operations (MRO) category managers from top 500 manufacturing companies, as well as the world’s most innovative startups at ProcureCon MRO in Atlanta. It was a great chance to soak up a wealth of MRO-related knowledge from industry experts, as well as share our own. Read on to get our day-by-day takeaways. Day 1 Some of the common themes from the day,...

Many organizations struggle with poor procurement spend visibility or lack it completely. Think about the old adage, “you can’t control what you can’t measure,” and you’ll realize that this is an ongoing challenge with large enterprise organizations. Without visibility into what your organization is spending, you have no way to control it. The top, and the most obvious, reason why most organizations struggle with spend management and compliance is that the majority of procurement spend...

Xeeva welcomes this guest post from Matthew York, Senior Research Analyst, Ardent Partners. For the past two decades, the modern manufacturing facility has become highly automated, employing robots to assemble automobiles and other large and complex consumer goods – sometimes without any direct human intervention (i.e., “lights-out manufacturing”, a hallmark of Industry 4.0). But as these robots and robotically-driven assembly lines age, they need regular maintenance, repair, and operating (MRO) services and supplies. Service calls must...

Xeeva welcomes this guest post on spend visibility and strategies for success from Andrew Bartolini, Founder and Chief Research Officer, Ardent Partners. Ardent Partners recently published its 14th annual “State of Procurement” research study, CPO Rising 2019: #ValueExpansion. And what was true when this series started remains true today – that there may be no greater advantage for the modern enterprise than comprehensive spend visibility and an ability to take action on it. While collaboration,...

We recently had the opportunity to chat with Charlotte de Brabandt, Institute for Supply Management’s (ISM) 30 Under 30 Rising Supply Chain Stars 2017 Megawatt Star and member of ISM’s Thought Leadership Council. During our discussion, we chatted about the impact of technology on the future of procurement, and how to prepare for these inevitable changes. Check out a snippet from our interview below, and you can also listen to the full 30-minute audio interview here! XEEVA:...

Procure-to-Pay

A simple 3-step process for identifying maverick spend

April 26, 2019 | Xeeva Team

During a recent webinar, our Chief Strategy Officer, Steve Griffiths, shared a simple 3-step process for identifying maverick spend. Read on or watch the short clip below to learn what this process is! If you want to learn more about maverick spend, you can watch the full webinar here!   Related: Why is maverick spend a problem for procurement organizations (and when is it not)? In a traditional way, if you want to get your hands around...

Business Strategy

Implementing emerging technology: first steps to take

April 24, 2019 | Xeeva Team

In a recent webinar with Hugo Evans, Vice President at A.T. Kearney, talked about the impact emerging technology is having on procurement with our SVP of Growth & Business Development, Vikas Shah, and one of our Customer Success Managers, Marisa Pierron. During their discussion, one topic they covered was how organizations can start implementing emerging technology. Want to know what steps you should take first? Read the transcript or check out the clip below to...

Procure-to-Pay

The effect of emerging technology on procurement

April 18, 2019 | Xeeva Team

Hugo Evans, Vice President at A.T. Kearney, recently joined Vikas Shah, our SVP of Growth & Business Development, and Marisa Pierron, our Customer Success Manager, for a webinar about how emerging technology is impacting procurement. One of the key points they touched on during their discussion was specific areas of procurement organizations that will be affected by emerging technology. Want to find out more? Watch this clip or read the transcript below, and make sure you...

Procure-to-Pay

Watch out, ERPs: emerging technologies are taking over

April 17, 2019 | Xeeva Team

We recently held a webinar featuring Hugo Evans, Vice President at A.T. Kearney, Vikas Shah, our SVP of Growth & Business Development, and Marisa Pierron, our Customer Success Manager, in which they discussed the impact that emerging technologies are having on procurement. Watch the full webinar to learn more, but for a sneak peek, check out this short clip or read the transcript below!   VIKAS: How do you see emerging technology changing the landscape of...

We recently held a webinar in which our Chief Strategy Officer, Steve Griffiths, and Institute for Supply Management's (ISM) Managing Director of Global Operations, Lane Burkitt, discussed the impact technology is having on maverick spend. One of the points they touched on during their discussion was why maverick spend can be such a problem for procurement organizations – and in what instances it’s not a problem. Want to know more? Watch this clip or read...

Procure-to-Pay

How can technology eliminate maverick spend?

April 5, 2019 | Xeeva Team

In our recent webinar with Institute for Supply Management (ISM), Lane Burkitt, ISM’s Managing Director of Global Operations, and our Chief Strategy Officer, Steve Griffiths, talked about ways technology can eliminate maverick spend. To learn more, check out this clip or read the transcript below (and if you haven’t checked out the webinar yet, click here to watch the whole thing)!   Both of you have mentioned a lot about technology and how it's shaping...

Procure-to-Pay

Why does maverick spend occur?

March 26, 2019 | Xeeva Team

Recently, we co-hosted a webinar with Institute for Supply Management (ISM), and it was full of great insights! ISM’s Managing Director of Global Operations, Lane Burkitt, chatted with our Chief Strategy Officer, Steve Griffiths, about how technology is solving one of the biggest challenges that procurement organizations deal with: maverick spend. One of the highlights of the webinar was their discussion about the reasons why maverick spend occurs. Watch the informative clip or read the...

Procure-to-Pay

How to solve the problem of imperfect procurement data in automotive

December 10, 2018 | Xeeva Team

If you work in indirect procurement, you’re definitely familiar with the problem of imperfect procurement data. Data that’s “imperfect” is unstructured, incomplete, or inaccurate, and is a result of any number of factors – including multiple ERP systems that don’t communicate with each other, widespread locations that operate independently, and people not following the correct process. When you have imperfect data, it’s impossible to accurately understand how your organization is doing or discover ways you...

This year’s OESA annual conference began with Julie Fream, OESA’s CEO and president, reviewing the event theme: “Transform. Innovate. Lead.” She warned that the automotive industry is transforming and if you don’t follow suit, you risk getting left behind. This message was further relayed throughout the day when Neil Boehm, VP of engineering at Gentex said, “you have to change with the times or you won’t exist,” when discussing the impact of new technology. The...

In the first two chapters of our tale, we explained how to differentiate AI from the buzzword and explored how the state of AI is currently only at a basic level. But not all artificial intelligence is created alike. More advanced AI, the kind that can deliver real results for your organization, is more than just a fairy tale. Going beyond helpful Of course, any kind of AI is capable of helping you. Automation can...

It seems that these days, you can’t go anywhere without hearing about artificial intelligence (AI). It really is one of the hottest buzzwords right now. But as we looked at in the previous chapter of our tale, a lot of the buzz around artificial intelligence is nothing more than that: a whole lot of noise. Lots of tech companies claim their products have AI. However, most are only using it at the most basic level,...

We’ve all fallen victim to flashy marketing that makes big promises but doesn’t deliver on them (and often doesn’t provide any results at all). Remember the Shake Weight that everyone thought would give them toned arms with minimal effort? That just made you look ridiculous. Or the blanket that promised to save your marriage? That didn’t work, and now it’s collecting dust in your linen closet. Or what about the electric grill that claimed to...

We’re not like a regular procurement software company, we’re a cool procurement software company. And according to their 2018 report of Cool Vendors in Procure-to-Pay Applications, Gartner thinks so too. That’s a pretty big deal, and we’re psyched that Gartner is telling the world that we’re just as cool as we already know we are! For those of you who aren’t familiar with Xeeva already, let’s break down three reasons why we believe Xeeva was...

Procure-to-Pay

From networking to insights: our 5 favorite parts of ISM 2018

May 14, 2018 | Marissa Bialick

ISM 2018 in Nashville, TN was a whirlwind of an event! Thousands of supply chain management professionals spent last week at the Institute for Supply Management’s annual conference, encompassed with 4 days of educational sessions, 2 days of intriguing vendor exhibitions, having hundreds of inspiring conversations, and building countless relationships. From speakers like Arianna Huffington, founder of The Huffington Post, to Dan Bartel, chief procurement officer at ABB, the conference was full of highly informative...

Business Strategy

Artificial intelligence & your data: 3 key takeaways from DMSCA2018

May 3, 2018 | Marissa Bialick

Last week a mix of supply chain professionals were brought together in Boston to learn about digital trends affecting manufacturing and gain insights into why development, digitization, and innovation are important. The event was DMSCA’s annual conference with the theme of “Velocity – Gearing Up Suppliers for New Opportunities in Manufacturing” and we were happy to be a part of it. Our CEO, Dilip Dubey, joined the conference as a subject matter expert in artificial...

Announcements

The start of something new: Xeeva Vol. 2 (Life post funding)

April 27, 2018 | Xeeva Team

Reflecting on the past couple weeks, I am enthusiastic about where Xeeva is and where we’re heading! You may have seen us in the news recently – here, here, here, and here (and many others) – because we had an amazing opportunity to raise capital and partner with PeakEquity Partners, Greenspring Associates, and Morgan Stanley Alternate Investment Partners to grow Xeeva and continue to define the future of procurement. If you haven’t seen the details...

Procure-to-Pay

Get started with your procurement data using AI technology

February 23, 2018 | Marissa Bialick

Decisions, goals, and opportunities are all part of any journey. The path you take to reach each of those is important. What matters more though is where you start. That’s what determines if you will make it or not. Every part of life has a foundation that without, it would come crumbling down. For people, it’s oxygen. For cell phones, it’s a charged battery. If either of those were taken away, how long would you...

In Gartner’s recent annual report, they discuss their predictions as to what will have a great impact on procurement and sourcing technology in the coming year and how the market will change over time. One thing that is definitely clear – the procurement and sourcing market is evolving quickly as technology continues to advance. The summary of the report suggests that CPOs, IT leaders, and procurement organizations need to “plan for the impact of virtual...

Procure-to-Pay

It’s Time to Think Differently About Indirect Procurement

April 20, 2017 | Xeeva Team

Senior management’s top priority remains the same – drive value for the business. And while indirect procurement manager’s feet are held to the fire to achieve cost reduction targets and improve productivity, many struggle because they are still using outdated tools and technology. Alternatively, for end users, their focus is simply to get their job done right, and as quickly and easily as possible. By applying new technology, insights, and thinking to the challenge of...

Procure-to-Pay

Wrangling the Complexity of Indirect Procurement

February 15, 2017 | Xeeva Team

It’s no mystery why indirect spend is often ignored. By its sheer nature, optimization has proven to be incredibly challenging. Unlike direct materials which are often highly engineered, associated with a specific set of approved suppliers, and controlled precisely through ERP and MRP technologies, indirect spend is comprised of a highly fragmented group of suppliers that vary by business unit (BU) and plant. These suppliers represent 1000s of sub-categories of goods and services and are...

Procure-to-Pay

Technologies for a New Frontier in Indirect Spend

January 25, 2017 | Xeeva Team

Technology innovations, especially those driven by advancements in consumer buying, social technology, and big data management, can now be applied to pull together the complex web of suppliers, intangible deliverables, and inconsistent pricing and processes of indirect spend. These readily available technologies can meaningfully simplify the buying experience while optimizing other aspects of indirect spend cost such as supplier fees, terms and conditions, performance specifications, and performance management. If executed correctly, optimizing indirect spend adds...

Sourcing

Strategic Sourcing and Supplier Engagement

August 13, 2016 | Xeeva Team

Strategic sourcing:  A disciplined approach to supply market analysis that continuously improves and re-evaluates the purchasing activities of an organization. Strategic sourcing provides the best possible values in the marketplace to produce sustainable savings and reduce cycle times. Sourcing optimization starts from a diverse strategic perspective and usually takes the form of strategic decisions. It is important to identify untapped opportunities to improve vendor access and increase the value of each dollar spent. Drive benefits...

Procure-to-Pay

Making an Earth Day Impact: Paperless Invoicing

April 22, 2016 | Xeeva Team

Are your finance operations bogged down in paper and invoice processing delays? Today, as we pause to consider Earth Day, one way that procurement and finance organizations can make a positive impact on conservation and waste reduction is to move to eInvoicing, or paperless invoicing. According to research from Hackett Group, SharedServicesLink.com and others, large organizations process over 10,000 invoices annually per A/P FTE. This is a massive amount of paper. In real terms: 10,000...

Business Strategy

How to deliver world class procure-to-pay performance

February 5, 2016 | Xeeva Team

According to research from The Hackett Group, accounts payable best performers operate with 62% lower costs per invoice than their peers. This indicates a significant opportunity for companies not considered best performers to make significant improvements to their operations. "AP best performers operate with 62% lower costs per invoice than their peers." Key Metrics to Determine Procure-to-Pay Process Efficiency Price per financial transaction basis Transactions per full time equivalent (FTE) Purchasing’s span of control The...

Procure-to-Pay

How to drive results with procurement transformation

January 15, 2016 | Xeeva Team

Are you prepared for a successful procurement transformation? As procurement organizations become increasingly more strategic, many struggle to fully understand how their current procurement operations rate relative to operational and financial benchmarks. Even those that do understand what “good" looks like still have to perform a gap analysis, develop their vision and strategic roadmaps, and then deploy the right resources to execute the plan. "Many organizations struggle to understand how their procurement operations rate." At Xeeva,...

Business Strategy

Supply Risk Strategy

November 18, 2015 | Xeeva Team

Formulation of a supply risk strategy is essential for a company to perform at its optimal potential. Failure to construct an appropriate strategy can turn your risk into reality. Some may argue risk in the indirect and MRO world is less risky. But in fact, shutting down a factory line due to lack of critical tooling is just as bad a shutting it down due to lack of direct materials. "Formulation of a supply risk...

Procure-to-Pay

P2P Catalogs and E-procurement

October 8, 2015 | Xeeva Team

Most folks that don’t know e-procurement will think of it simply as purchasing necessary goods and services in the most cost-effective manner. However, what most don’t think about is the importance of the buying experience (much more than making it Amazon-like) and the specifics that go on behind the scenes. When using e-procurement for the P2P process, buyers (requesters) rely heavily on the accuracy of the catalogs to provide the most informed information. They also...

Sourcing

How to Gain Actual Compliance

August 26, 2015 | Xeeva Team

How many clients with indirect spend do we run across that conduct strategic sourcing, develop pre-negotiated contracts, and implement savings plans that can’t get those savings flow to the bottom line?  Answer: all of them. Related: Supply risk defined in supplier relationship management When it comes to locking in cost reductions from hard-fought sourcing engagements, companies don't just identify opportunities, but rather they implement savings. Here are 5 tactics to drive compliance and benefits to...

Procure-to-Pay

Spend Under Management Part 4 of 4

August 20, 2015 | Xeeva Team

We're in the home stretch now... The spend under management (SUM) framework provides executives with a simple outcome-based model to drive the necessary changes in their organization to capitalize on the significant savings opportunities available to most organizations. The benefits of moving to best-in-class under the SUM framework include: Alignment of indirect spend objectives with core financial metrics  Defines and details actual spend at a granular level utilizing robust spend analytics Defines enterprise objectives by...

Procure-to-Pay

Spend Under Management Part 3 of 4

August 14, 2015 | Xeeva Team

In our last post. we discussed adopting spend under management (SUM) and the first of five principles. Here are the other four: 2) Purchase through a formalized requisition to purchase order approval process. The purchasing processes of an organization should be governed by policies and procedures that are complete and enforced universally. Simply having them in place is a starting point but the key issue is enforcement. Are all the spend areas incorporated? Does my...

Procure-to-Pay

Spend Under Management Part 2 of 4

August 4, 2015 | Xeeva Team

So now that you know what spend under management (SUM) is, how would you go about adopting such a framework? SUM is built on creating a partnership between indirect procurement and operations along five key operating principles across sourcing, contracting, buying, and spend decision-making. At its foundation is executive leadership with joint operating targets established between indirect procurement and the operating groups they support. The actual SUM model measures the maturity of the organization across...

Procure-to-Pay

Spend Under Management Part 1 of 4

July 22, 2015 | Xeeva Team

Ever wonder why many companies view indirect procurement as a non-strategic back office function? Maybe it’s that indirect practitioners often focus too narrowly on measuring cost savings from indirect spend sourcing initiatives and lose sight of how those initiatives impact core financial metrics such as total cost of ownership (TCO), operating profit, working capital, and cash flow, among others. Therefore, adopting a well-structured indirect spend management framework that establishes that connection can bring real value...

Sourcing

Supplier Rationalization

July 12, 2015 | Xeeva Team

There are many challenges for achieving supplier rationalization and standardization. A typical tactic deployed by procurement organizations is trying to reduce the variety of similar items that the organization purchases. The reasons for this rationalization go beyond cost savings and can include: Supplier diversity initiatives Supply mitigation and management Going green Ultimately, standardizing is not as easy as it may first appear. Take, for example, an organization with multiple manufacturing plants, each of which buys tens of...

Business Strategy

Supply Risk Management and Supply Chain Visibility

December 18, 2014 | Xeeva Team

Setting up systems to monitor supply risk management and supply chain visibility can preempt future performance issues that your organization may encounter. Predictive financial performance monitoring tools are often of value to companies monitoring the activities of their suppliers – indeed, recently one large global manufacturer was able to prepare for the impending bankruptcy of a major supplier due to their predictive analysis, indicating that the supplier was developing cash flow issues. Related: Supply risk...

Sourcing

Supply Risk Defined in Supplier Relationship Management

November 22, 2014 | Xeeva Team

Supplier relationship management is the discipline of strategically planning for, and managing, all interactions with third-party organizations that supply goods and/or services in order to maximize the value of those interactions. In practice, supplier relationship management entails developing closer, more collaborative relationships with key suppliers in order to uncover and realize the new value and reduce supply risk; but what exactly is “supply risk”? George Zsidisin, assistant professor of supply chain management at Michigan State...