Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management news.
Nick Heinzmann, Spend Matters, 1/21/2019
An essential component of business relationships, contract management has become a popular target for digital transformation efforts. Digital and artificially-intelligent promise to arm organizations with increasingly 'smart' contracts. Heinzmann suggests, however, that the concept of a smart contract is "inherently limiting." He advises organizations to stop concerning themselves with smart contracts and start thinking about how "live" contracts could support them with living, adaptable tools.
The Doctor suggests that no enterprise platforms are currently offering true artificial intelligence. He suggests that even the best are offering something closer to "augmented" or "assisted" intelligence. Most struggle to provide even that level of insight. With characteristic skepticism, he cautions organizations against devoting time and money to a platform that just barely supplements their current level of intelligence. Most of the observations current-day solutions can offer are screamingly obvious and qualify as little more than a total waste of resources.
Freelances and FinTech - Follow the Money
Andrew Karpie, Spend Matters, 1/16/2019
While independent contractors are increasingly attractive to leading businesses, a number of roadblocks have emerged. Karpie examines several of these as they relate to independent contractors in the financial technology sector. Among these are the lack of an efficient and functional system to process invoices from independent employees and the recurrent need for integrated tax and payment filing. Karpie suggests we may soon see a major shift. Rather than simply "putting butts in seats," organizations could establish a platform-constructed world where "capturing more financial transactions through more service offerings" is considered the primary value generator.