The importance of Procurement Analytics Data Access to clean reliable data is essential lifeblood procurement’s future – for years, category managers have worked in the data grey zone – this needs to change: Introduction Large, medium and smaller companies collect masses of data: product, prices, payment, delivery information, and more. This “transactional data,” is used by businesses to understand better their … Read More
M&A Value Creation: Procurement Analytics Critical
M&A Value Creation: Procurement Analytics Critical M&A Value Creation: Procurement Analytics because cost savings are seen as a key value driver in any M&A deal by institutional investors and shareholders alike. The ability to deliver this value, therefore, is critical to the credibility of the CEO and the senior management team. 1. The Brave CPO: M&A Value Creation: Procurement Analytics … Read More
Proactively influence business goals and priorities with e-enabled sourcing
Shape the agenda, deliver against strategic and tactical goals with e-enabled sourcing Cost reduction is still one of the main drivers of e-enabled sourcing, but opportunities for competitive advantage also come from increasing spend visibility and reducing risk as well as improving supply chain responsiveness. 1. Introduction E-Enabled sourcing has become a significant differentiator between leaders and laggards between today’s … Read More
Value of dark data – breaking through procurements final frontier
The most game-changing knowledge lies in the realm of things you don’t know you don’t know: Value of dark data – breaking through procurement’s final frontier Understanding Your Dark Knowledge Universe Value of dark data: breaking through procurements final frontier – momentarily consider that you don’t know most things. With data growing at an exponential rate and spend management becoming … Read More
Develop a Procurement Analytics Strategy
Procurement Analytics Part 3: Beyond simple spend data towards strategic decisions Develop a Procurement Analytics Strategy: In part 2 we discussed the challenges and maturity levels in Procurement Analytics capability. Here in the final part in this series we discuss how to apply Procurement Analytics strategically. 1. Introduction The primary function of procurement analytics tools is to support improvement strategies. … Read More
Procurement Analytics Maturity Matters
Part 2: Procurement Analytics Maturity Matters: Beyond simple spend data towards strategic decisions and value In our previous post, we discussed the business case for Procurement Analytics. Here in this post we discuss the why Procurement Analytics Maturity Matters and the challenges and maturity levels in building Procurement Analytics capability. 1. Procurement Analytics Maturity Matters Companies are competing on analytics … Read More
Procurement Analytics: Beyond simple spend data towards strategic decisions and value
Organizations of all sizes and in all sectors need Procurement Analytics Here in the first of a series of post we discuss the business case for Procurement Analytics and how and where to apply it to support your organizations goals and objectives. 1. Introduction There is always room for improvement and expansion of procurements value proposition at global companies. However, … Read More