BravoSolution – Sourcing Optimisation Webinar and New Platform Release

Is it really April already? But Christmas was only a couple of weeks ago surely?

Unbelievable. But it does mean I can say that later this month, I’m leading another BravoSolution Real World Procurement webinar. On Tuesday April 25th, at 12 noon UK time then again at 7pm UK time (designed more for our US audience), I will be talking about Sourcing Optimisation - Understanding The Process and The Benefits.

Whether you call it market-informed sourcing, optimisation, advanced sourcing, expressive bidding, or Kevin, the use of clever mathematical algorithms and huge amounts of computing power to drive complex sourcing exercises is something that all organisations of any reasonable size should be considering.

The chance to allow suppliers to offer alternatives and make conditional offers, and analyse complex bids effectively, has really opened up the opportunity to improve value even where conventional sourcing is well established. That opportunity extends to the public sector, by the way – I only know of a couple of examples of usage here, but it has real potential. But the main users currently are large corporates, and if you are NOT taking advantage of this capability, then you really should be.

And if you are already a fan, I’ll try and make it interesting by talking about where I think optimisation will go next, as it were. So do sign up here for the session – there will be no more than 25 minutes of me talking, I promise, then plenty of time for some Q & A. You can also get hold of the sessions already held this year here, including the recent one from Professor Robert Handfield on “Innovative Data Leveraging for Procurement Analysis”.

And while we are talking BravoSolution, the firm recently unveiled the latest version of its platform, BravoAdvantageTM 17. This incorporates “powerful business analytics, integrated procure-to-pay functionality and updated spend management and sourcing capabilities”. This is apparently the largest update to their platform ever, and marks a major move towards the firm being able to satisfy the full source-to-pay capability many organisations require today.

he acquisition of Puridiom last year provided the impetus for developing more tools to support the transactional side of that equation, on top of BravoSolution’s traditional strength in what Gartner call “strategic sourcing applications suites” (principally sourcing, contract management and spend analytics).

But it isn’t just P2P improvements; the new analytics tool sounds good, there is more focus on collaboration and risk management, and there is an ability to digitally sign contracts through a new partnership with DocuSign. We haven’t had a full demo of the platform yet, but we’ll keep you up to date on this when we have. And you can get more information here.

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