Ardent Partners

Today on CPO Rising — “Evolution Continues in Contract Management” https://lnkd.in/gwEPvnjM Over the last few years, the contract management (or contract lifecycle management) solution space has seen some exciting new innovations, after lagging behind other areas in the supply management space for some time. These new entrants — Automated Contract Compliance, Enhanced Services Management, and Vendor Performance — are driving a renewed focus on contract management solutions. #procurement #chiefprocurementofficer #contractmanagement #contractlifecyclemanagement #CLM #CLMtechnology

Magnus Monday Revisited As we head toward the end of 2024 and into a new year, Ardent Partners will revisit some of our Magnus Monday posts with insights and technology recommendations from our own vice president of research, Magnus Bergfors. Today, we’re looking at three areas where Magnus believes artificial intelligence can generate the most value for procurement. Read here: https://lnkd.in/gFwiHgHS #procurement #chiefprocurementofficer #artificialintelligence #AI

AI In Action – Accounts Payable’s Biggest Innovations (PLUS AP HONORS 2024) Join Ardent Partners and Medius on December 4th (2 PM ET) as they discuss AI In Action – Accounts Payable’s Biggest Innovations (PLUS AP HONORS 2024). This webinar will tell you everything you wanted to know about AI in accounts payable but were afraid to ask. The event delves into the transformative power of AI in the world of accounts payable. Discover how AI can revolutionize your AP processes, boost efficiency, and drive significant cost savings. In this session, you'll learn: ? The Basics of AI: Understand the fundamental concepts of AI and machine learning. ? AI Applications in AP: Explore how AI can be applied to invoice processing, matching, and payment automation. ? Benefits of AI in AP: Discover how AI can improve accuracy, reduce processing time, and enhance decision-making. ? Overcoming Challenges: Address common concerns and potential roadblocks in implementing AI solutions. ? The Future of AI in AP: Gain insights into emerging trends and future possibilities. Register here: https://lnkd.in/g6cNViCq Don’t miss our EXTRA SPECIAL event — The AP Honors 2024 Ceremony! Unlock the full potential of AI while celebrating AP excellence!

Today on CPO Rising — “Magnus Mondays — Flexibility or Control? Why Not Both?” https://lnkd.in/gVBA8qFN When it comes to automating the procure-to-pay process, the go-to solution has always been P2P suites. However, Magnus says that it could be changing with the integration of IM&PPO solutions within procurement systems. He examines some key differences as well as the pros and cons of P2P suites and IM&PPO — and even signs of convergence of the two technologies. ? #procurement #chiefprocurementofficer #IM&PPO #P2P #AccountsPayable #eProcurement #procurementtechnology?

Today on CPO Rising — “What Does "Team" Mean for Procurement in a FOW-Led World?” https://lnkd.in/gic83xMy What does the concept of “team” mean for procurement in today’s remote and hybrid enterprises? Many workplaces continue to operate with dispersed teams. With the criticality of teamwork to execute procurement initiatives and projects, how teams function in the evolving Future of Work environment will likely have lasting implications on work culture and business success. Read what procurement must consider in how their teams are designed and how collaboration occurs for departmental and enterprise success. #procurement #chiefprocurementofficer #remotework #futureofwork #team #hybridworkforce

Today on CPO Rising — “Procurement News” https://lnkd.in/dj6i6jnW This week’s Procurement News features personnel announcements for Krystyna Kostka who was promoted to CSCO for BJ’s Wholesale Club; Sylvester Donelson, Jr., MPA, who was named chief procurement officer for the City of Portland, Oregon; and Venkatesh Alagirisamy, CSCO for NIKE, who is now a member of the senior leadership team reporting directly to the CEO. Check out more details about our featured procurement executives as well as supply management news. #procurement #chiefprocurementofficer #procurementnews #promotions #procurementexecutives #supplymanagementnews

Today on CPO Rising — “Magnus Mondays — Why Not Generative AI?” https://lnkd.in/g-_KKZMY While the hype for generative AI is strong among solution providers, Magnus expresses skepticism of current use cases delivering on transformational value and benefits. So, this week, he put GenAI to the test asking ChatGPT why he should and shouldn’t use generative AI for procurement — with some surprising results. #procurement #chiefprocurementofficer #GenAI #artificialintelligence #AI #procurementtechnology?

Today on CPO Rising — “CPO Rising Listicle:?Best-in-Class AP Operations Benefit the CFO in Six Ways” https://lnkd.in/gDnZqZDA Please join us on December 4th for the 2024 AP Honors Awards Ceremony (click to register: https://lnkd.in/g6cNViCq) as we announce the winners of the AP Honors 2024 Awards. Share in the details and great achievements of this year's AP Honors winners — an elite list of AP, P2P, and Finance executives, leaders, teams, and technologies. As we close in on Ardent Partners' 2024 AP Honors Awards Ceremony, today’s Friday listicle revisits the significant value of accounts payable within the office of the CFO and the enterprise overall. Chief financial officers continue to face some of the most significant challenges in decades, particularly in AP, with many plagued by manual processes that not only slow invoice processing but also lead to invoice data inaccuracies and potential overpayment. Such inefficiencies and errors leave the enterprise and CFO with a compromised balance sheet. Instead, CFOs managing top-performing AP operations are focused on automation and standardization in the handling and processing of invoices to avoid the pitfalls of manual transactions. #procurement #accountspayable #APautomation #APHonors #chieffinancialofficers #chiefprocurementofficers

Cast a Wider Net: Leveraging Innovation to Expand Procurement’s Influence and Impact Join Ardent Partners and ORO Labs on November 21st (11 AM ET) as they discuss how to Cast a Wider Net: Leveraging Innovation to Expand Procurement’s Influence and Impact. If granted three wishes for 2025, CPOs told Ardent Partners that they wanted (1) earlier and stronger engagement with budget holders, (2) better visibility, and (3) more usable technology. The goal of each of these “wishes” is to expand and strengthen procurement’s influence and impact. But there is no magic wand that can be waved to simply achieve this. The simple truth is that the best way for procurement to engage and stay engaged is by delivering a wonderful customer experience. The initial experience any employee has with procurement sets the tone for their relationship with it forever. A positive first impression establishes trust and credibility, making users more likely to continue engaging and enabling procurement to drive more value. Attendees of this cutting-edge webinar will learn: ● How AI (and no-code capabilities) are driving adoption by improving the user experience ● How an innovative new category of procurement technology (procurement orchestration) is helping procurement teams engage more stakeholders and drive greater savings ● How Best-in-Class procurement teams are leveraging, not only procurement orchestration, but other innovative, complementary technologies to drive efficiencies, visibility, and value. Register here: https://lnkd.in/dMBm3Zkh Any procurement pro focused on expanding their team’s ability to influence spend and drive bottom-line results should attend this webinar.

Today on CPO Rising — “Magnus Mondays — Feature, Product, or Company?” https://lnkd.in/gm5UBFSt Magnus looks back at his attendance at DPW last month as he ponders the proliferation of procurement solutions. What does the future hold for new solution entrants? And what qualifies as a feature, product, or company in today’s market? Magnus considers these questions and others as we wind down 2024. #procurement #chiefprocurementofficer #intakemanagement #procurementprocessorchestration #sustainability #procurementtechnology?