Resource Blog

Insights

Our insights provide a glimpse into how we view the source-to-pay journey.

"Navigating Procurement & Inflation : Enhancing Contract Management and Sourcing Strategies"

Navigating Procurement & Inflation : Enhancing Contract Management and Sourcing Strategies

Contract Desk, Contract Management, Managed Services, Sourcing Desk

Inflationary times pose significant challenges for procurement departments. Rising costs and supply chain constraints can impact contracts and sourcing strategies, requiring proactive measures to m…

"Balancing Competing Procurement Priorities for Unprecedented Success in 2023!"

Balancing Competing Procurement Priorities for Unprecedented Success in 2023!

how to improve procurement process, procurement optimization, Spend Management

Welcome to the thrilling world of procurement! A dynamic field that is constantly evolving, and 2023 promises to be a year like no other. The last few years, and especially the last few months, hav…

"Aligning Procurement Strategy and Setting Objectives"

Aligning Procurement Strategy and Setting Objectives

Advisory, Procurement Assessment, Spend Management

In 2023, procurement organizations will need to demonstrate their contributions to less-traditional tasks, such as supply chain risk management, cost avoidance, and ESG initiatives. With those task…

"8 Steps To Avoid Change Orders In Your Procurement Digital Transformation"

8 Steps To Avoid Change Orders In Your Procurement Digital Transformation

Digital Business Transformation Strategy, Digital Transformation, Digital Transformation Issues, digital transformation process

Summary: 8 Steps To Avoid Change Orders In Your Procurement Digital Transformation Businesses are constantly assessing the need for new solutions and implementation tools to help them stay agile i…

"Why Digital Transformations Fail"

Why Digital Transformations Fail

Advisory, Digital Transformation, Digital Transformation Goals, Digital Transformation Issues, Pitfalls Of Digital Transformation, Why Digital Transformations Fail

Many source-to-pay organizations decide to undergo digital transformations, seeking to update their legacy systems and launch their operations into the modern digital age. Despite these intentions,…

"Digital Transformation vs. Business Transformation"

Digital Transformation vs. Business Transformation

Advisory, Business Process Transformation, Digital Business Transformation Strategy, Digital Transformation, Digital Transformation vs Business Transformation, What is Business Transformation

Understanding the difference between digital transformation vs. business transformation can be challenging for many organizations. The two terms are, in many cases, closely related—they refer to tw…

"What Is Digital Transformation, and How Can It Help Your Procurement Department?"

What Is Digital Transformation, and How Can It Help Your Procurement Department?

Advisory, Digital Transformation, digital transformation it services, digital transformation process, purpose of digital transformation, what is digital transformation

For your procurement department to remain competitive in a fast-moving digital world, you need to be equipped with the right tools to stay ahead of the curve. Digital transformation helps you do ju…

"Interview: Procurement Considerations for 2023"

Interview: Procurement Considerations for 2023

Advisory, Sourcing Desk, Sourcing Execution, Spend Analysis, Spend Management

As we enter 2023, I had a chance to catch up with David Pastore and discuss some procurement considerations that every organization should be considering in 2023. Below is the transcript of our…

"5 Steps to an Impactful Digital Transformation Business Case"

5 Steps to an Impactful Digital Transformation Business Case

Advisory, Digital Transformation, Technology Acquisition, Technology Assessment, Technology Implementation

When making the case for digital transformation within your source to pay organization, too many organizations focus on the tactical pains that users experience. A well built business plan will out…

"6 Fresh Considerations to Elevate Procurement Value in 2023"

6 Fresh Considerations to Elevate Procurement Value in 2023

Advisory, Procurement Assessment, Sourcing Execution, Spend Analysis, Spend Management

In 2023, procurement organizations will continue the push to elevate procurement. Teams will need to juggle traditional priorities such as cost optimization and risk management with emerging trends…

"2023 Procurement Predictions"

2023 Procurement Predictions

Digital Transformation, Sourcing Execution, Spend Management

Highlights – 2023 Procurement Predictions. We’ve experienced many external trends, ranging from economic uncertainty to the impacts of global conflict, that have shaped the way companies have had …

"5 Signs Your Source to Pay Organization Needs to Undergo a Digital Transformation"

5 Signs Your Source to Pay Organization Needs to Undergo a Digital Transformation

Advisory, Digital Transformation

Digital Transformation is much more than implementing software. Here are 5 signs to look for to see if your organization should consider undergoing a digital transformation: Frustration within…

"Best Practices in Executing a Gainshare Strategic Sourcing Program"

Best Practices in Executing a Gainshare Strategic Sourcing Program

Spend Management

A gainshare strategic sourcing program can be the key to enhancing your internal team unlocking more savings, faster. There are a number of pitfalls and challenges to proactively manage when engag…

"8 Key Considerations for a Gainshare Sourcing Engagement"

8 Key Considerations for a Gainshare Sourcing Engagement

Spend Management

Highlights There are many things to consider when evaluating if a gainshare sourcing engagement is right for your organization These include: The amount of unmanaged spend in your organiza…

"Inflation: The More Things Change, the More They Stay the Same"

Inflation: The More Things Change, the More They Stay the Same

Spend Management

After enjoying decades of modest inflation, it’s no wonder the recent rapid acceleration of inflation is a hot topic of conversation at dinner tables and water coolers around the world. Unsurprisi…

"Procurement and ERP: Part 1 – The Background"

Procurement and ERP: Part 1 – The Background

Advisory, Digital Transformation, Procurement Assessment, Technology Assessment, Technology Implementation

In this three part series, we will cover the history of procurement and ERP technologies and some key considerations as organizations define their strategy for the next 5-10 years. Part 1 – The Ba…

"Women’s Careers & The Impact of Sponsorship"

Women’s Careers & The Impact of Sponsorship

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management

On this International Women’s Day, I have a story for my fellow Women in Procurement about the impact of sponsorship on Women’s Careers… namely mine! There was a beautiful period of my career …

"Embracing Change with a Partner in Procurement"

Embracing Change with a Partner in Procurement

Change Management, Digital Transformation, Technology Implementation

Originally published on December 17, 2020 by Supply Chain Best Practices A deep knowledge of the culture, the team’s capabilities and the business process allows Velocity to be…

"The Time to Adopt E-Invoicing is Now"

The Time to Adopt E-Invoicing is Now

Advisory, AP Assessment, Change Management, Digital Transformation, Technology Implementation

When the COVID-19 stay at home orders went into effect, treasury and finance departments went into overdrive. Staff began working from home, and some employees were furloughed. Quickly, they realiz…

"How do you take your coffee?"

How do you take your coffee?

Advisory, Change Management, Digital Transformation

Differentiation and Customization As a kid who grew up and came of age in a small, New Jersey town, one of my fondest memories is running into the bus stop every Sunday morning and putting a…

"Women in Negotiation: Truth, Falsehood, and Surprising Insight"

Women in Negotiation: Truth, Falsehood, and Surprising Insight

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management

Since the dawn of the Industrial Revolution, women have been contributors to the modern working world in one form or another. For almost two centuries their roles were supportive or administrative …

"Velocity Procurement Expanding Operations into the United Kingdom"

Velocity Procurement Expanding Operations into the United Kingdom

Advisory, Digital Transformation, Managed Services, Spend Management

Philadelphia, PA (January 17, 2020) – Velocity Procurement is pleased to announce its international expansion to include offices in London, England effective January 2020. As client demand increase…

"Procurement Transformation: A Modern Road Trip, Part 4 – The Road"

Procurement Transformation: A Modern Road Trip, Part 4 – The Road

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

There you go chug-chug-chugging along on your procurement transformation journey. An experienced driver at the wheel; your GPS with the most efficient route. Your vehicle provides you and your trav…

"Procurement Transformation: A Modern Road Trip, Part 3 – The Weather"

Procurement Transformation: A Modern Road Trip, Part 3 – The Weather

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

Preface: For Part 3 in Velocity’s Road Trip blog series – “The Weather” AKA Client Partners – we were fortunate enough to have a real-life Client Partner guest write for us. She has exposed some v…

"Procurement Transformation: A Modern Road Trip, Part 2 – The Vehicle (a.k.a. Technology)"

Procurement Transformation: A Modern Road Trip, Part 2 – The Vehicle (a.k.a. Technology)

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

As our blog series continues taking a Road Trip along the Procurement Transformation highway, it becomes crucial (and abundantly obvious) that you’re going to need to select the right “vehicle”, be…

"‘Will somebody please tell me what Procurement Transformation is?!’ Don’t overthink it…"

‘Will somebody please tell me what Procurement Transformation is?!’ Don’t overthink it…

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

My dad and I were enjoying a beer during a rare moment of silence one Sunday afternoon earlier this summer after I finally got both of my kids down for a nap at my parents’ house. We both had our …

"Procurement Transformation: A Modern Road Trip, Part 1"

Procurement Transformation: A Modern Road Trip, Part 1

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

As we all look back at an excellent summer you might find yourself sitting outside the dressing room while your teenager searches for school clothes patiently waiting to pay, the only reason they a…

"Your longtail supplier onboarding program shouldn’t have to be like getting glasses"

Your longtail supplier onboarding program shouldn’t have to be like getting glasses

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

For the longest time, I had a small but bothersome bruise on my left shoulder. This came from my wife constantly nudging me when I asked her what time it was, or what the captions on TV said. Occas…

"What type of business partner are you?"

What type of business partner are you?

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

While consulting on some recent procurement transformations, I began to take notice that many companies seem to forget what it means to be a good business partner. Do we, as businesses, just not wa…

My latte spend, friend or foe?

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

“But if the budget is balanced, what does it matter?” I say to my patient new husband who has found my hidden stash of lattes. Let’s back up a bit. There are cost savings to be found when a com…

"Is your S2P initiative on thin ice?"

Is your S2P initiative on thin ice?

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

As you know, we at Velocity Procurement try to share our experience and expertise using a more familiar and relatable style. The same goes for how we view the subject of “successfully deploying S2P…

"Build it and they may not come?"

Build it and they may not come?

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

We’ve sat around this table too many times to count, the procurement team listening wide-eyed as we discuss the functionality of an automated, inclusive procurement solution. It truly is the “Fiel…

"The Evolution of Our Velocity"

The Evolution of Our Velocity

Advisory, Change Management, Digital Transformation, Managed Services, Spend Management, Technology Acquisition, Technology Assessment, Technology Implementation

So, what’s the difference you might ask, between Velocity Sourcing Group and Velocity Procurement? Simply put, you asked us for more, and we delivered. Many of you that know us, know that we grew t…

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Velocity helps global enterprises operate more efficiently and effectively, gain competitive advantage, boost profitability, and maximize business and shareholder value. Every day, Velocity helps performance-driven enterprises realize their strategic, operational and financial objectives.

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