#7 | An Interview on Transformation in Procurement & Technology with Karthik Rama
Supplier Experience Live from HICX
An Interview on Transformation in Procurement & Technology with Karthik Rama During this episode of Supplier Experience Live from HICX, we are joined by Karthik Rama. Karthik is referred as the ‘Procurement Doctor’ as he uses his deep expertise that he has gained over the years to help various organizations around the world in transforming their troubled procurement processes. Karthik talks to us about his biggest passion, transformations in procurement and technology.
Procurement has been talking about transformation for a very long time - but sometimes they are better talking the talk than walking the walk. And while change isn’t easy, the need for it isn’t going to go away anytime soon. In some cases, it is critical to bring in experienced transformation experts - people who have helped lots of other organizations take their own change journey - to get a realistic and objective look at what needs to be done to help procurement achieve their stated objectives. In this episode of The Sourcing Hero podcast, Host Kelly Barner is joined by Karthik Rama, known to his friends and colleagues as ‘The Procurement Doctor.’ He has made a career out of procurement transformation, spending almost two decades helping organizations from varied industries all over the world generate the greatest possible value from their procurement organizations. He has experience with all of the dimensions involved with procurement transformation, including technology, training, and processes. In this conversation, Karthik shares his perspective on: The value of having an objective but experienced ‘outsider’ advise procurement teams before they embark on a transformation journey What procurement teams have the most difficulty letting go of when the time comes to make lasting and meaningful change How leaders can balance experience and innovation when building the right mix of team members after a transformation
Your organisation sucks at Contract Management with Karthik Rama
World of Procurement
Karthik Rama, the Procurement Doctor is a Procurement Professional and knows a thing or two about Contract Management. We dived into so much in this episode. This episode was originally released as a video over on the World of Procurement YouTube Channel but I needed to release it via audio too. We cover: How Contract Management Activities could be improved by Blockchain Technology Why Procurement and Contract Management needs to be easier for people to understand Pre-Signature Contract Management Activities and why it’s important Why Contract Management is neglected and why your Organisation sucks at it Connect with Karthik here - https://www.linkedin.com/in/ramakarthik/
Bridging the Business Gap Between Finance and Procurement With Karthik Rama
Spend Culture: CFOs on People, Cash, and Organizations
In this episode of Spend Culture Stories, Karthik Rama joins us to chat about how procurement can find alignment with finance and work together as business partners, and how procurement leaders can successfully lead a cross-departmental digital transformation project. Speakers: Karthik Rama, Procurement Doctor Karthik is all about Procurement Transformations, with over 16+ years of experience in helping organizations from varied industries, from all over the world. He is inquisitive to understand the subtle differences in industries and regions and has a complete grasp of the Source to Pay cycle. Karthik has worn multiple hats over the years, right from being the Procurement guy to the IT guy deploying the Procurement System - this gives him an edge when speaking the language of technology to the IT teams and Procurement to the Procurement teams.
Ensuring Digital Transformation Succeeds – Karthik Rama is the Procurement Doctor
The Procuretech Podcast: Digital Procurement, Unwrapped
We've often spoken about different software solutions and certain, specific areas of the Procurement flight deck which can be automated or digitised. Here, we're taking a step back and looking more holistically at dissecting a project from the conception, right the way through to after installation and commissioning has been completed and managing the performance of the vendor throughout the duration of the contract.Sourcing a vendor, contracting with them, and then actually orchestrating an enterprise level digital transformation in procurement is no easy task.My guest on this episode, Karthik Rama, who goes by the pseudonym "Procurement Doctor", has done this several times and shares his knowledge with us around what to consider when, and what the most common pitfalls are for the uninitiated.Dissecting a Digital Transformation – Karthik Rama is the Procurement Doctor2:15Karthik explains his unique skill set and how this has served him well when being able to communicate with both procurement and technical / IT stakeholders.3:00Assuming procurement has the ownership of this initiative, then at what point should the project manager involve IT and start building relationships with the function?4:45How to go about understanding the marketplace. With all of the market intelligence out there, is there a still a need to do an RFI?8:04We discuss organisational maturity and how this is such a key factor to the success or failure of a procurement digital transformation9:23How to tackle the obvious problem that no buyer is likely to be an expert on this type of software, unless they're coming from an organisation which has already implemented procuretech.11:15The most common mistakes made during the RFP / vendor selection phase, and how to avoid making them!14:32Karthik shares his experiences of how open SaaS vendors are to negotiation during the contract process?15:58The vital importance of having an A player heading up the implementation of a digital transformation, as opposed to somebody who just has the bandwidth from a workload perspective. Karthik also shares a nugget of advice around which role specifically could be the best person to lead the implementation.18:55What works best in terms of mix when it comes to outsourcing certain aspects of a complex implementation to consultants, versus which functions or aspects of the project are better retained in-house?20:57Potential issues or watch-outs which could be lurking out there post-implementation and why hypercare period is key to ensure a successful handover.24:33When the project has been handed over, how does the day-to-day governance work from that point onwards? What happens when there are issues? Which ones has Karthik seen most frequently?27:28Typical contact periods, and pros and cons of going for shorter or longer agreements.29:23How to connect with Karthik:Karthik's LinkedIn profileHow to connect with James:James Meads Consulting websiteJames' LinkedIn profileBook a Call with JamesFollow The Procuretech Podcast on LinkedIn
The Importance of Contract Administration with Karthik Rama
World of Procurement
Karthik Rama is the Procurement Doctor, Procurement Consultant and a man that has closed over 35,000 contracts whilst building up Procurement Teams from the ground up. Karthik is one of the Top 50 Global Thought Leaders and Influencers in Procurement and really knows his subject. Karthik gives a deep dive into what good Contract Administration and Management should look like, with an emphasis on good Contract Administration and how to close down Contracts to ensure you have good data and can make good decisions. Karthik talks about knowing your Contracts and if you know them inside out, of you know your obligations, your terms, your points of leverage, your pricing and when they are due to end, you can make powerful decisions. Make sure you take a screenshot when you’re listening to the show, post it on LinkedIn and tag @World of Procurement so show you some love. You can find Karthik Rama here: LinkedIn - https://www.linkedin.com/in/ramakarthik/ Twitter - https://twitter.com/procurementdoc YouTube - https://www.youtube.com/channel/UC_B0jk50d5hF1AWwbY7KbFA