Spend Matters - Research Download
There is a Zen Buddhist riddle that says, “If you seek it, you can not find it.” If you seek happiness as an outcome in life for its own ends, rather than a byproduct of merely living life fully, you’ll likely not be happy. The same goes for cost savings. Procurement organizations that focus only on the same approaches for finding purchased cost savings will not be happy, nor will their stakeholders, who own the spending. Not only is it impossible for procurement to save its way to zero, but stakeholders also will view these efforts as narrow and self-serving, rather than helping them maximize the value of their spend to accomplish their objectives. Download this paper to learn the true art of managing spend and cost reduction.
Spend Matters - Research Download
In the oil & gas (O&G) industry, extreme flexibility is more than an imperative — it is a necessity. Without it, operators and thousands of other firms that make up the industry could face reduced valuations or bankruptcy (as we are seeing now, with the price of crude oil dropping below $30 a barrel). As in other downturns, the industry has responded by drastically reducing operating cost structures and suspending many capital projects. Workforce is not only an enormous cost in O&G companies, it is also the most fungible. Download this paper to learn more about why a VMS is essential for industries like O&G.
Unfortunately, for most procurement organizations, the intelligent procurement scenario seems like science fiction and disconnected from their world of simply trying to see how much money they spend with suppliers at an actionable level. How do you go from Excel to machine learning? This paper can help you begin to bridge the gap.
This paper won’t dive into the mechanics of spend analytics related to identifying potential savings from strategic sourcing (e.g., reduced pricing via competitive bidding to aggregate spending to preferred suppliers). Instead, we will focus on how firms can expand their spend analytics to identify and fix non-compliance scenarios that cost real money and introduce real business risk.
Spend analysis is changing - and it's changing fast. In this paper, Peter Smith interviews Stefan Foryszewski from Tungsten Analytics, discussing some of the bleeding-edge approaches companies are taking in this area.
The future for e-sourcing is bigger and brighter. But as it evolves, it's becoming something different, stretching far beyond what others originally conceived it to be. This future may even seem foreign to those brought up to think about the tools as just a way to model a traditional seven-step process. Yet we can promise you this: emerging e-sourcing scenarios and capabilities will create far greater value for the business and help procurement’s stature rise more than simply pushing through as many events and auctions as possible.
Tactical spend analysis and strategic supply management are two very different beasts. If you believe you need to provide supply market intelligence to your business, if you think such intelligence requires more than outsourced or pre-packaged solutions or that you’ll need your own analytics capability, then download now!
In this introductory analysis, we begin our exploration of how to wring every bit of value out of spend data. From basic Accounts Payable (A/P) spend analysis by supplier to more advanced topics, this is definitely the place to get started.
The target audience for this paper is not only internal (brand management, C-level, finance, legal, line of business owners, procurement) but also sales, where SCRM visibility provides an advantage with risk-averse prospects and clients. As for takeaways, we’ll explore SCRM’s potential ROI, including the main drivers to consider when building a business case. This doesn’t just include supply base assurance and brand management - but also immediate hard savings through process efficiency, avoidance and reduction of crisis costs, and insurance premium reductions. What’s not to like about that?
En Spend Matters buscamos empoderar a las áreas de compras con contenidos de valor, en esta ocasión realizamos un estudio sobre el uso que las empresas mexicanas le dan a las tecnologías de información para habilitar o fortalecer su función de compras, en especifico las relacionadas con: Compras electrónicas, análisis del gasto, contratación de servicios, catálogos electrónicos, contratos, proveedores, abasto estratégico, gastos de viaje y facturación electrónica; esperamos que este estudio sea de valor para ti y nos des tu retroalimentación.
Business users should be brought in early as part of a spend analysis requirements definition and solution evaluation, but we do find that many procurement organizations hold off until they have built out a reasonably solid-to-spend cube at the line-item level (by supplier, category and cost center) before they really start turning over the keys of the spend analysis tool to the end users for their own inquiries. That's all well and good, but the biggest source of failure in spend analytics is the same source of failure with any type of systems: non-adoption. You want people to use systems? Then you have to hand over the car keys.
When it comes to supply risk, you may have heard the term "think globally and implement locally" as a way to align risk and reward. You also know that it's critical to create the right set of metrics and benchmarks in this area, but in our experience, we haven't spoken to many people who have a good idea of where to even start. In this paper, Chief Research Officer Pierre Mitchell will walk you through some good starting points based on lessons learned from industry leaders.