Pilot Flying J is using Infor Coleman Artificial Intelligence (AI) and Machine Learning (ML) to help boost its fuel margin accuracy in hopes to increase its revenues by $750,000 a year. One of North America’s leading network of travel centers with more than 750 locations across 44 states and 6 Canadian provinces, Pilot Flying J’s fuel margins are particularly important, as they drive much of the bottom line and profit. Error in fuel pricing can cost the company a significant loss. Per the press release, Pilot Flying J deployed an Infor multi-tenant cloud ERP system, taking advantage of its pre-integrated data, analytic, AI and ML capabilities. Further, Pilot Flying J anticipates that the Infor solutions, by helping the company save time and improve fuel margin accuracy, will produce a number of financial and operational results.
Contract management is crucial for risk minimization, optimization and value creation, but in 2015 the NAO identified systematic weaknesses in both government and commercial sectors. The NAO’s 2015 Transforming Government Contract Management report notes that much remains to be done, including far-reaching changes in the culture of the public service and its ability to procure and manage commercial contracts. The report was triggered by the high-profile overbooking of the Ministry of Justice’s 10-year electronic surveillance contracts with G4S and Serco. Four years later, it is now recognized that effective contract management has been achieved in the commercial departments. However, the 2015 report found “systematic weaknesses” in government and commercial contract management in the day-to-day management of contracts. [Sources: 7]
In most government departments, contract management activities are scattered throughout the organization, involving many different people in different roles at different distances from the front. This makes a lot of sense, because the management of contracts is most effective when it takes place close to the goods and services supplied. Allegations of ineffective contract management for the public purse are most frequently cited, but the truth is that effective contract management applies equally to the private sector. Effective contract management is more than managing the specific words and clauses on paper. In reality, it is much more comprehensive: it covers all aspects of the value and risk arising from contracts. [Sources: 5]
The same applies to public institutions. As you can see, the public sector has many of the same forces that influence it as the private sector. There is therefore an increasing need for more and better contract management. Public sector bodies need to rely more on processes that control and manage internal costs. This means that challenges are being raised and there is a greater need for technology and process transformation to outsource a wide range of areas, including contract and commercial management. [Sources: 8]
It is not enough for organizations to have contract management specialists. Employees must be supplemented by process and software support in order to meet the increased compliance requirements and analytical requirements. The expected economic benefits and financial returns must be realized. [Sources: 1]
The basis of contract management is based on the implementation of successful upstream activities after the award. Further consideration will have to be given before the contract is awarded. In the pre-award phase, employees focus on the reasons for concluding the contract with the supplier and fulfilling the contractual conditions. [Sources: 1]
At a time when public authorities need to be diligent about how public dollars are spent, it is imperative that contracts with this aim be developed in mind before the process of managing contracts is completed. The contract should specify exactly what is expected of the contractor. [Sources: 4]
Furthermore, contracts should allow public sector parties to carry out audits of their quality management and management information systems to ensure that the contract remains sustainable. Public sector parties will also have to deal with the requirements of the Official Information Act 1982 as applied to them, including the types of access granted to them by internal and external auditors. They also need to have financial information to convince themselves of the continued financial viability of the public sector. [Sources: 2]
Disputes should be resolved as quickly as possible at the appropriate level of dispute settlement procedures, thereby promoting negotiation and mediation between the parties. There should be an agreed mechanism whereby the parties are mutually informed of the problems arising from the Treaty. [Sources: 2]
Often the only viable option is to settle the dispute in court. Costly litigation drives up the cost of providing services to public bodies, even if the agency wins, and that is because the agencies prepare for litigation by using staff time and agency resources. [Sources: 4]
Public procurement and contract management officials exacerbate the problem by building a cocoon around their offices, pretending that their offices “goals, tactics, and actions are independent of the company’s goals. Others create resentment by acting as policemen and enablers. They are unable or unwilling to push for strategic public procurement or contract management. Failure to plan procurement, define requirements, award and manage contracts costs public institutions dollars and opportunities in the short and long term. [Sources: 6]
We still have a long way to go before contract management gets the recognition it deserves. Understanding the challenges of contract management is an important step towards improving the situation. Addressing these challenges requires efforts by all public sector organizations. What matters is improving growth, and the International Association for Contract and Trade Management (IACCM) is a sign of this. Where it has gone wrong, it is clear how important it is for organizations to do better. [Sources: 0]
Given that we are in an interesting double Brexit storm and a second Covid wave, it is vital to understand its position as a single entity of government. It requires at least some basic forms of digitalization, spending analysis, and supplier contract management, so that suppliers can trust the government to weather the storms around them. It also requires transparency in the way money is spent. We believe that the next period will provide opportunities for public sector organizations to operate from one position: they are the customers of choice and can rely on them to accelerate cash flow to companies in difficult times. [Sources: 3]
https://www.nogalis.com/wp-content/uploads/2021/06/Contract-Management-For-Public-Sector.jpg470470Angeli Mentahttps://www.nogalis.com/wp-content/uploads/2013/04/logo-with-slogan-good.pngAngeli Menta2021-07-02 07:18:562021-06-28 14:36:46Contract Management For Public Sector
Customer relationship management (CRM) systems not only help a business understand its customers, but stores important data about them and their buying trends. The data in CRM systems is vital to understanding the customer. CRM expert and Validity’s Jeff Foley shares an article (and video) on Destination CRM and CRM Magazine of the three pillars of Data Management within your system that are critical to business success. CRM data, like all data, should be as accurate as possible. Though with human error (and even machine error), there will be problems along the way that can harm data. Foley’s three pillars of CRM data management are:
Data quality – “That’s the profiling, the standardization, the deduplication, the enrichment, the automation of monitoring.”
Data governance – “The idea of the people, the processes, the technologies that come together to give you a plan, and give you a strategy for taking care of these, and give you standards so that you know what good looks like, and you know what you’re trying to achieve.”
Leadership support – “If you’ve got that buy-in at all levels, cross-functionally across the organization, and that trust in this process and the need for these this governance and to achieve this quality, then you’re less likely to run into challenges.”
Foley has found that companies with higher-quality CRM data had three traits he mentioned above. This is something you should consider when handling the precious data in your CRM systems.
https://www.nogalis.com/wp-content/uploads/2015/09/CRM-Customer-Relationship-Management-IT.jpg223360Angeli Mentahttps://www.nogalis.com/wp-content/uploads/2013/04/logo-with-slogan-good.pngAngeli Menta2021-07-01 10:14:502021-06-29 13:28:24CRM and the Three Pillars of Data Management
Famous French luxury leather goods manufacturer Lancel has chosen to implement Infor CloudSuite Fashion, an ERP solution dedicated specifically to the fashion, textile and luxury industries. Part of a project to migrate and streamline its IT systems, the family run business since 1876 did an in-depth study of the Infor M3 ERP solution found that it was very functionally rich and it met the manufacturer’s business requirements. Per the press release, the plan was to upgrade this robust system dedicated to the fashion and luxury goods industry, and it was only natural that Lancel chose the latest multi-tenant cloud SaaS option in order to migrate and upgrade Infor M3 to Infor CloudSuite Fashion without creating any disruption in current processes. The urgency of this need meant that this process would have to be up and running as quickly as possible. Today, the project is on track with the schedule as envisioned.
The majority of transactions within a health organization are subject to contracts. Smart contract management in the healthcare sector plays a crucial role in tipping the scales in favor of providers. It is the gold standard because it increases efficiency without affecting patient care. [Sources: 6]
In solo practitioners, the number of contracts can be breathtaking. In groups of two or more practitioners, the state of practice and contractual obligations can get confused when practitioners make contractual arrangements. [Sources: 1]
Health organizations have several contracts with a number of providers and individual organizations. Studies have shown that several contracts in different industries are lost due to poor management. If these contracts are lost, the problem is the need for an efficient contract management system. [Sources: 4]
Executives and financial managers who want to automate contract management in the healthcare sector make the acquisition of systems and health IT a priority in order to increase earnings. Providers help providers and organizations automate and optimize contract management in the healthcare sector, the survey continues. [Sources: 9]
Healthcare companies know that if they fail to comply with industry rules, the consequences can be severe. Implementing contract management software is just one step they can take to improve their compliance procedures and ensure they comply with industry regulations. In this way, it can help them play by the rules and avoid costly penalties. [Sources: 3]
Partnering with a healthcare contract management system can help you evaluate relationships and use actionable data. Every facet of hospital management is forced to adapt to upheaval. Contracts must reflect current laws and regulations, and many providers use contract management specialists. [Sources: 6]
Request a free demo today to learn more. For more than 20 years, Cobblestone has been providing industry-leading and acclaimed contract management software solutions for many industries, including healthcare. Contract Insights web-enabled, flexible, low-friction and robust solutions have helped thousands of users in small and large organizations in the public and private sectors. [Sources: 10]
The healthcare contract management market will grow rapidly as providers and organizations look for new systems to manage more complex contracts. In fact, the New Market Report predicts that the market will grow from $755 million in 2019 to $1,763 million in 2024, representing an average annual growth rate (CAGR) of 18.5% over that period. [Sources: 9]
Watch the video to get a quick overview of the state-of-the-art functionality of the contract management software. Health organizations can track and monitor line items such as medical devices, drugs, laboratory items, face masks and other PPE products, food and more, as well as manufacturer-related costs. With comprehensive expenditure management in contract management software, users can use contract pricing and contract budget tracking tools. [Sources: 10]
Contract management is an important element of a sound practice management strategy. Due to the number of different types of contracts that healthcare providers conclude, it can be difficult to manage all moving parts. In order to reduce the risks associated with inadequate contract management, health practices should establish written policies and procedures dealing with contract supervision, authorization and review processes, evaluation criteria for contractors and special considerations relating to research and legal review. [Sources: 1]
A health care contract is your traditional contract in the form of two consenting parties: a physician, a health care provider, a managed care organization (MCO), a network sponsored by a provider, a health care preservation organization, and an integrated care system for various health plans. Contracts can be concluded with health care providers, other employees, vendors and more. These contracts focus on the roles and responsibilities of each party and its compliance requirements with state and federal laws. [Sources: 7]
Solutions such as this contract management software provide a secure location for all your contracts, including medical contracts, vendor contracts, construction contracts and more. This allows your legal team and key stakeholders to find contract files and search them for terms, keywords and interests. [Sources: 3]
Efficient CLM-based steps overcome the usual pitfalls of contract management. A streamlined process ensures better execution of the creation, submission, approval and signature of documents. When you have such a workflow, it saves time and money, reduces errors, and delivers consistent results. [Sources: 5]
Effective contract management helps ensure that the hospital meets or exceeds its suppliers “expectations and meets its contracts. If a seller fails to meet its contractual obligations, the hospital can take steps to prevent the same problems from recurring. With this information, the CFO can take corrective action if necessary to minimize the risk posed by a vendor who does not comply with his contract. A key aspect of preparing for an audit is the CFE’s knowledge of how well their hospital performs under its contract and how its vendors perform under its agreements. [Sources: 0]
The Hotel Am Triller in Saarbrücken, Germany, will deploy Infor Hospitality Management Solution (HMS) in the AWS cloud. The over 60 years family-run hotel’s move to the cloud is in response to the current digitalization trend in the hospitality industry and helping secure its competitiveness long term. With Infor HMS, Hotel AM Triller is following through with its digitalization strategy to offer its guests better service with mobile solutions. Per the press release, this solution will be able to check guests in and out with their smartphones or tablets, and also book guest services – reducing direct contact and making the maintaining of security distances easier. The service will also feel more individual, personal and efficient. Infor HMS is designed to link all aspects of a business, giving managers full insight into current growth and potential for improvement. The guest experience also constantly improves.
Many Infor installs require a specific version for .NET Framework. The framework version is no longer displayed in the Installed Programs list. The easiest way to find the exact version is to open the registry editor (press Start and search for “regedit”). Navigate to HKEY_LOCAL_MACHINE > SOFTWARE > Microsoft > NET Framework Setup > NDP > v4 > Full
The installed version is listed under the “Version” string value
https://www.nogalis.com/wp-content/uploads/2021/06/How-to-Find-Your-.NET-Framework-Version.jpg470470Angeli Mentahttps://www.nogalis.com/wp-content/uploads/2013/04/logo-with-slogan-good.pngAngeli Menta2021-06-25 08:04:252021-06-21 10:09:33How to Find Your .NET Framework Version
Whether you are a new or old business, implementing a customer relationship management (CRM) system is probably one of the most important decisions to make to ensure a quality customer database. CRM expert Dimitri Akhrin shares an article on Forbes pointing out factors to consider when choosing a CRM system. The biggest focus would be scalability. It’s no secret that the pandemic threw us for a loop and many businesses struggled to survive. Have a scalable business – one that can adapt and easily be used by a two-person startup or a Fortune 500 company is key to survivability, according to Akhrin. When considering scalability, Akhrin also suggests to search for a solution with many features you can utilize as your business grows. Additionally, one shouldn’t wait for something like a global pandemic to have a back up plan. Planning ahead for future possibilities will help minimize chaos in the future. Akhrin also reminds you before deciding on any CRM provider, read the fine print and ensure that you’re not locked in a lengthy contract without the option to make changes or cancel your plans. A CRM that can scale and change on demand is a key player and important asset for your business.
https://www.nogalis.com/wp-content/uploads/2018/06/Artificial-Intelligence-CRM.jpg333500Angeli Mentahttps://www.nogalis.com/wp-content/uploads/2013/04/logo-with-slogan-good.pngAngeli Menta2021-06-24 09:12:302021-06-24 09:58:44The Importance Of Finding A Scalable CRM For Your Business
Long time Infor customer Midwest Wheel Companies is using Infor Coleman AI-driven parts recommendations to boost their customer service. By doing this, the truck part distributor company will be reducing sales order processing time by 30 percent and helping customers save money by ordering the right mix of parts. Per the press release, Infor’s Coleman AI solution has put parts information and recommendations at the fingertips of its customer-facing teams, enabling them to serve customers more effectively. Previously, Midwest Wheel’s customers lost time at the sales counter, or over the phone, when salespeople had to manually search for the right interdependent parts to order for repairs. Infor developed an artificial intelligence (AI) application, which analyzes order data and includes a recommendation engine. The application was deployed in only four weeks, and Midwest Wheel’s salespeople didn’t need any special skills or training to use it. Further, Midwest Wheel also is using Infor CloudSuite Distribution and Infor Birst analytics to help manage inventory across its seven warehouses, enable complex Infor Intelligent Open Network (ION) workflows and alerts, and do more online business. With Infor’s multi-tenant cloud solutions, including Infor OS (Operating Service), the company has improved customer service, realizing as much as a 15 percent improvement in order fill rates.
https://www.nogalis.com/wp-content/uploads/2017/07/Infor-AI-Coleman.jpg382500Angeli Mentahttps://www.nogalis.com/wp-content/uploads/2013/04/logo-with-slogan-good.pngAngeli Menta2021-06-23 10:31:312021-06-23 10:38:34Midwest Wheel Boosts Customer Service with Infor Coleman AI-Driven Parts Recommendations
Against this background, rewards should function as expectation. Thinking through the worst-case scenario is important, but provided the supplier exceeds your expectations, he should be rewarded for what he has done. This can be an instant payment or a simple thank you. [Sources: 0]
Both the customer and the supplier are responsible for the success or failure of the working relationship. Take responsibility for your place in the process and acknowledge that your decisions about delays, timing or changes in project scope can affect the ability of suppliers to do their job. Maintain your sanity and the sanity of your office manager. [Sources: 0]
By sharing the results of this analysis with your suppliers, you can develop a more accurate sales plan and work on a common sales forecast and planning. The use of an ordering system to control and monitor the purchase of goods and services from suppliers can be used to facilitate internal financial control and to avoid specification misunderstandings with suppliers in the end. You should also have a payment policy that requires your company to pay undisputed invoices on time, with copies sent to your suppliers. This puts a strain on your relationship with suppliers, but can also lead to more favorable conditions in the future. See our Guide to Storage and Control of Stock. [Sources: 9]
When you talk to purchasers and quality teams, one of their main obstacles to good supplier management is supplier information management – the constant maintenance of information. Make sure that the platform you choose allows providers to update their own information systems so that it is easy for them to do so. In this way, they are responsible for maintaining up-to-date information, which is important for all suppliers. For example, set notifications and reminders for vendors whose certificates have expired so they can make a new copy, rather than having to chase them. [Sources: 4]
The supplier management process does not end when you have chosen a supplier. After selecting and entering, you will need to evaluate their performance to see if they meet a range of objectives and requirements. To ensure a practical evaluation, make sure you create KPIs to measure performance. [Sources: 3]
The following chart shows the basic strategic levels that are necessary to effectively manage suppliers. The execution of basic activities in connection with complex supplier relationships is computationally intensive and expensive. When a company merges data from daily supplier management with data from the broader industry, the company, its vendors and the market, it draws a detailed picture of the source relationships and their potential for improvement. [Sources: 1]
The responsibility for supplier relationship management lies solely with the procurement team. Strategies for managing supplier relationships are craftsmanship and can never be achieved without involving internal stakeholders. One villain can bring down the entire process. [Sources: 5]
Here are five ways to improve strategic supplier relationships. One of the most overlooked aspects of strategic supplier relationship management is how suppliers are viewed by the purchasing organization. When an SRM considers the entire supply base, strategic suppliers are seen as part of the whole. [Sources: 8]
Strategic suppliers, be it strategic issues or cross-functional concerns. Therefore, buyers should be careful to bring their stakeholders together and involve them in the management of the partnership. Companies should invite relevant employees to supplier meetings to discuss performance and future opportunities. [Sources: 8]
GM should have a formal system for suppliers to provide it with feedback. Assessment procedures should not be a one-way street. GM cannot be expected to build trust without listening to its suppliers. What we need is to pool resources for joint projects and reassure suppliers that GM is committed to their success. [Sources: 2]
Be sure to maintain strong and regular communication with your suppliers. If something doesn’t work for you, let them know. Keep them informed of your strategy and plans so they know where they fit in, how they can help with the plan, and who benefits. If you appreciate their work, let your suppliers know. [Sources: 7]
Your suppliers play a big role in your retail business, so don’t neglect them. Strive to find the best providers in your industry, and once you have an agreement, maintain a healthy relationship through communication, professionalism, and good old-fashioned kindness. [Sources: 6]
Procurement officials need to research carefully to maintain beneficial relationships with suppliers, not counterproductive showdowns. Poor quality can be expensive, so procurement officials should be more careful in selecting suppliers and learn more about the suppliers they want to know. [Sources: 2]
Globalization has torn today’s businesses apart and made business processes more dynamic, competitive and complex than ever before. Organizations engage suppliers to provide various goods and services to maximize business performance. Suppliers are an indispensable part of any business and their effective management is crucial. [Sources: 3]
For many organizations, SRM is seen as a tool to manage critical suppliers. In a previous paper, I examined the SRM framework. In researching the entire supply chain, I segmented strategy and supplier initiatives by segment. [Sources: 8]
Expenditure management and visibility: not having SRM on board means missing data and poor visibility of expenditure. If you do not know how much is spent on a seller or what is bought in detail, it is impossible to judge whether you are getting the best service value and it is difficult to compare providers. [Sources: 7]
If you have a Service Level Agreement (SLA), it will help you to assess the relationship between companies and suppliers as objectively as possible. Not all levels are the same, but it is worth using an SLA to define the level of service you require from your suppliers. [Sources: 9]
https://www.nogalis.com/wp-content/uploads/2021/06/How-To-Manage-Your-Suppliers.jpg470470Angeli Mentahttps://www.nogalis.com/wp-content/uploads/2013/04/logo-with-slogan-good.pngAngeli Menta2021-06-22 09:07:312021-06-21 10:13:02How To Manage Your Suppliers
