Community Intelligence – a Procurement Revolution

Procurement people and organisations have pursued collaboration with others outside of their own organisations for many years, with varying degrees of success. Collaborative procurement bodies in the public sector are one obvious example of this, as are the many benchmarking studies and similar that we see around the industry.  But there have always been drawbacks and barriers to success, such as the time taken to extract information, work out how to communicate, share and analyse it – often meaning that the data is out of date by the time anyone is actually getting around to using it.

So we are delighted to bring you this paper, Community Intelligence – A Procurement Revolution.* Sponsored by leading spend management software firm, Coupa and written by Peter Smith before he stepped back from Spend Matters, it looks at how new and improved technology, as well as changes in attitude among executives, is opening up options for different organisations to work together for mutual benefit in areas across the procurement landscape.

The whole concept of sharing and using “community intelligence” is, we believe, an exciting prospect for procurement now and in the immediate future. So, in this briefing paper, we look at some of the most interesting potential initiatives – covering collaborative sourcing, risk management, vendor data management, operational improvement and supplier performance management in particular. The technology to support these ideas is being provided by Coupa (and other solution providers), whose platforms are providing access to real-time, accurate and robust data from across a huge user base, which can help the entire community to make better decisions.

It also looks at the ongoing challenges, including the point at which procurement executives may need to embrace the change and question some long-held views. But the positive opportunities arising form “Community Intelligence” appear to be convincing, and we believe that this will be a major area of interest for procurement leaders in coming years.

You can download the paper here, free on registration, and we will be back with some extracts from it in coming days.

*You may remember we participated in a webinar on the same topic in December - if you missed that, it is available to listen to at your leisure – register here to get the link.  In the session, John Callan from Coupa and Peter Smith talk about the underlying concept of “Community Intelligence” – using the data, knowledge and information from across a community of buyers and buying organisations for mutual benefit. We don’t say this is a new concept, but ‘revolutionary’ in that through technology-related developments it is possible to achieve far more, far more easily from this community intelligence. For example, Coupa’s benchmarking study last year, which took live user data from the Coupa platform, provided benchmarking intelligence on a number of metrics that was guaranteed 100% accurate, timely and relevant - a huge step forward. Read about that here.

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