Enterprises are increasingly focusing on transforming supplier management activities through digital adoption to improve efficiency and relationships. However, the supplier management technology landscape is complex. Technology providers have varying capabilities and focus areas within the supplier management space, making it difficult for enterprises to choose and implement. In this webinar, our analysts unpacked how enterprises can better understand the supplier relationship management (SRM) technology landscape and highlight the best-in-class functionalities and features. What questions did the webinar answer for the participants? What does the SRM technology landscape currently look like? What are the best-in-class functionalities and features that enterprises should look for when adopting an SRM tool? What does a high-level assessment of the functionality and solutioning elements of various technology providers offering SRM tools entail?

Enterprises prioritize developing strong supplier relationships to maintain business continuity, drive innovation, and capture value. The adoption of digital technologies can potentially improve the efficiency of supplier management activities. However, digital adoption varies significantly across activities within supplier lifecycle management. There is a growing interest among enterprises in leveraging technology for Supplier Relationship Management (SRM), which encompasses various activities such as supplier segmentation, supplier governance, supplier performance management, supplier collaboration, supplier-driven innovation, and supplier conflict management. Best-in-class SRM tools focus on enabling optimized workflows, comprehensive performance management, seamless collaboration and communication, and targeted relationship management by leveraging data. The market offers an increasing number of solutions, including best-of-breed tools and S2P and S2C suite providers, each with varying depth and breadth of functionality across SRM activities. These solutions provide different levels of customizability and configurability, influencing their capability and functionality. Enterprises typically face challenges in selecting, adopting, implementing, and utilizing such SRM solutions. In this report, we study SRM technology solutions and analyze technology provider capabilities and solution characteristics across SRM activities, along with sharing individual provide profiles. The report will be relevant for stakeholders interested in driving agile and resilient supplier relationships using digital tools to achieve diverse objectives. This includes new buyers / parent organizations exploring the digitalization of SRM activities, SRM technology providers, service providers, and industry influencers such as investors and industry bodies. Scope All industries and geographies This research leverages our interactions with 11+ leading SRM technology providers worldwide Contents In this report, we examine: Digital adoption trends across supplier lifecycle management activities Best-in-class capabilities across SRM activities SRM technology provider landscape and provider profiles Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

Traditionally, most organizations have managed their suppliers through spreadsheets and outdated processes. But digital transformation is developing in this space, and organizations see the benefits of a technology-driven approach. In this webinar, our experts can guide you through the process of designing a supplier management tech stack for your organization. We discussed the challenges organizations face in adopting supplier management tools and how to overcome them, including budget constraints, lack of integration with existing ERP solutions, and operational issues. You’ll learn how to integrate technologies across the supplier management lifecycle and choose the right tools to enhance your supplier management function. Watch us to learn the types of tools available and how they offer different functionalities for supplier onboarding, risk management, performance management, and information management. What questions has the webinar answered for the participants? Which activities can be impacted by technology under supplier lifecycle management? What are the technology adoption trends for supplier management activities? What are the challenges enterprises face in adopting tools for supplier management activities? How do organizations choose between best-of-breed and suite solutions? How do organizations structure their supplier management technology stack?

This report is available only to Outsourcing Excellence members. For information on membership, please contact us Organizations prioritize efficient supplier management to ensure business continuity, consistency, and quality. Various stakeholders play vital roles in supplier life cycle activities such as onboarding, risk management, performance management, governance, and collaboration. Traditionally, organizations relied on manual processes and spreadsheets for supplier management. However, with advancing technologies, many organizations now create roadmaps for best-of-breed and purpose-built solutions to manage suppliers. Adoption of these tools/solutions varies across supplier management activities, depending on factors such as complexity, ease of transition, integration ability, and stakeholder accessibility. In this report, we assess technology adoption in supplier management across organizations, while understanding organizational transformation through digital adoption and the challenges encountered in this journey. The report establishes a framework for the supplier management technology solutions space, details how these solutions enable organizational transformation throughout the supplier life cycle, and identifies factors that help achieve desired outcomes with technology adoption. Scope All industries and geographies Contents In this report, we: Examine the supplier life cycle management technology landscape Discuss supplier management tools/technology adoption trends Study challenges and success factors in adopting supplier management tools

Traditionally, the purpose of supplier management was to ensure outsourcing outcomes matched the intent of the contract. Now, as companies seek to drive value from their strategic supplier relationships, a broader range of activities are involved in supplier relationship management (SRM), including risk, performance, and governance. Supplier managers today are responsible for key objectives, such as driving innovation from their large outsourcing providers, ensuring the right mitigation plans are in place, and guaranteeing performance is at par. Misses can be high visibility and must be managed effectively. Questions our experts answered: What are the best supplier relationship management approaches across vendor stratification, governance, tools/technology usage, performance management, risk management, and supplier-driven innovation? What challenges are peers facing, and how do they overcome them? How can organizations build guiding principles and frameworks across supplier stratification and governance? What are common performance management and score carding approaches?

On March 29, Everest Group hosted a webinar titled, "Is Your IT Sourcing Program Up to Speed? Here’s How to Get There." It’s well-known that IT sourcing has become all about spending wisely and thoroughly evaluating internal budgets; yet, digitalization, cloud migration, a talent-constrained environment, and shifting software licensing terms are only driving increased spend. These challenges have pushed the focus from cost savings to finding business value and generating revenue from IT procurement. In this webinar, our experts revealed key takeaways from our IT Sourcing Pinnacle Model® assessment, including capabilities and outcomes of leading IT sourcing programs and how IT procurement teams can unlock business value through an accelerated IT sourcing program. During this session, attendees learn: Current strategies in IT sourcing Best-in-class IT sourcing practices to drive business value Approaches to set up a robust IT sourcing model The key challenges in IT sourcing The future sourcing roadmap to follow

Risk management is a vital component of supplier management and is in the spotlight today amid the evident failure of certain large corporations to build adequate resilience in their operating models. Organizations realize that they can no longer rely on an established operating model and have started looking at risk management strategically to gain a competitive edge and stay relevant in a fast-evolving landscape. Third-party Risk Management (TPRM) is the procurement function’s responsibility in most organizations. While this function is part of a wider risk strategy under a risk-focused group, procurement typically manages the TPRM program, including outsourcing-related risks. Deriving strategic value from risk management requires buyers to adopt a risk-conscious approach to manage their outsourcing portfolios. As buyers chart their approaches to achieve the target risk management maturity, they need to factor in multiple considerations to decide the best-fit risk management program for managing outsourcing-related risks, including treating risk management as a strategic differentiator, shifting the ownership to strategy leaders, increasing technology leverage, and focusing on risk management transformation. In this viewpoint, we study the outsourced risk management landscape, with a focus on supply 
base / location risks and service provider risks. We outline the factors necessary to build a best-in-class risk management organization by outlining the key challenges with current risk management practices and ways to develop comprehensive risk management capabilities. Scope Risk management processes across supply base / location risks and supplier risks All geographies and industries Contents In this viewpoint, we study the following topics: Current risk management practices Key challenges with current risk management practices Emerging best practices in the risk management domain Membership(s) Procurement and Supply Chain Sourcing and Vendor Management

This report is available only to Outsourcing Excellence members. For information on membership, please contact us Organizations classify their supply base into multiple levels to drive their supplier relationship management strategies, with the top tier of suppliers comprising those with the most strategic role in business success and on top of the priority pyramid based on their capabilities, size, spend, and revenue impact. Strategic suppliers are fundamental to generate savings, manage risks, and create a requisitioner channel strategy, thereby creating a positive internal user experience. The end goal of a robust supplier management strategy is to allocate resources to the most strategic suppliers . A few best-in-class or Pinnacle Enterprises™ have been able to drive better outcomes by honing their strategic supplier management capabilities – including costs, operations, and overall business and strategic impact. Whether they make incremental changes or achieve major transformation, Pinnacle Enterprises™ exemplify the way to success. This report provides insights into Pinnacle Enterprises’ capabilities and outcomes achieved to help CPOs, vendor management leaders, and procurement professionals understand what best-in-class means in strategic supplier management. Scope Domain: strategic supplier management All industries and geographies Content In this report, we focus on: Study the differentiators for Pinnacle Enterprises™ Examine the key implications for enterprises Assess outcomes driven by strategic supplier management Assess capability maturity across supply base stratification, governance, technology, performance management, risk management, and innovation

This Virtual Roundtable Discussion Summary is available only to Outsourcing Excellence members. For information on membership, please contact us Everest Group regularly organizes virtual sessions in which senior executives from enterprises convene to share experiences and network with colleagues in other organizations on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group Vice Presidents Amy Fong and David Rickard and our participants discussed tools in use for a range of supplier management activities; where source to pay suites are leading and where best of breed solutions make the most sense; and challenges organizations face and change management required during implementation.

On February 11, Everest Group hosted a webinar titled, "Are You Getting the Most Out of Your Strategic Supplier Relationships?" The most successful procurement organizations focus on value optimization — particularly with their most strategic suppliers — maximizing their performance, anticipating and addressing supply base risks, and jointly driving innovative strategies. In this webinar, we share the results of our Pinnacle Model® study. This study examines how organizations measure, communicate, and improve strategic supplier performance, the roles procurement and VMOs (vendor management organizations) play, and the capabilities in place to partner and maximize business value. Key takeaways from this webinar: Best practices in supplier relationship management and governance for strategic partners VMOs' interactions with sourcing teams and their typical roles and responsibilities In what areas procurement organizations are using technology to manage suppliers