In the first installment of this series, based on the Spend Matters research paper Avoiding “Dumb Ways to Die”: eProcurement and P2P Style Adoption Scenarios to Breathe Life into Implementations, we began to explore the limitations of analytics and insight often found in today’s P2P implementations. When thinking about the type of insight that’s essential for building through better dashboards, reporting and analytics, we must consider a number of areas.
This visibility could include the ability to drill down on vendor information, such as spend with specific suppliers on a PO, non-PO and invoice basis linked back to historic baselines to show savings to date (with information on SKUs/services, orders, invoices and other information readily visible). Additional contextual information, such as SKU price-based history information, can be invaluable both for informing frontline decisions as well as for driving better compliance and re-sourcing on the back-end.
But where do you get started? In a recent research brief on Spend Matters PRO, Procurement Information Architecture Part 3: Analytics (subscription required), we note that it’s critical to have a supply data warehouse simply as “a place for your stuff.” This starts with defining the “analytic data model,” including master data, transaction data, external content, etc., that is needed to provide the analytics to support the specific decisions to be made.
It’s also important not to forget about the supplier-facing side (in analytics and beyond). These solutions need to be just as slick or slicker if you want suppliers to provide feedback or to enable vendors to become more strategic and relevant for you. This includes maintaining supplier access to catalog/product/price/other detail changes with a highly usable interface (with analytics at the forefront) that in turn leverages integration and reporting cross-system in a manner that focuses on vendor self-service and vendor self-improvement.
Download the full paper on which this post is based: Avoiding “Dumb Ways to Die”: eProcurement and P2P Style Adoption Scenarios to Breathe Life into Implementations. The paper, authored by Spend Matters Chief Research Officer Pierre Mitchell and Jason Busch, is available for free download in our Spend Matters research library.