Spend Management for Real World Complexities: Internal and External Perspectives

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Spend management that delivers consistent, provable bottom-line value requires solutions that go beyond a one-size-fits-all approach. As we explored in Part 1 of this series, few solutions providers can offer the breadth, depth, flexibility, domain experience and track record of success to fully address the complex finance and procurement challenges facing organizations living in change. To help confront these challenges, the right solution must be largely self-managing and intelligent, as well as easy to use, customize and scale.

What does this look like in practice? Below we outline what organizations should explore and review when evaluating vendors, both from an internal stakeholder and external supplier engagement perspective.

Program Management: The Missing Link in Procurement Technology Modules and Suites (Part 4 — Sourcing Components) [PRO]

If there is a glue that binds together different areas of procurement workflow, it is the overall program management of both individual tasks and collective activities across the source-to-pay continuum. This Spend Matters PRO series is designed to provide insight into what effective program management technology capabilities encapsulate from a design, platform and functional perspective.

In the last part of the series, we focused on sourcing and the types of sourcing programs that must be enabled by a modern sourcing or source-to-pay platform a modern user experience. In this fourth installment, we explore specific program management solution components that are required to enable the sourcing programs discussed in Part 3. In particular, we describe the specific overlay capabilities on top of sourcing technology to enable category strategy and realignment, re-sourcing, tail spend management, supply base rationalization and supply base expansion.

Business Intelligence to Transform Procurement