Why Community Intelligence Data Is Going To Get Even More Important

Earlier this year, we featured a benchmark report from spend management software firm Coupa, looking at key spend metrics called 12 ways to measure business spend management success.

At first, we thought it was interesting, but hey, we see loads of reports, surveys, benchmarking studies … but on reflection, we started to get rather excited. And ultimately, we decided this was one of the first manifestations of something that we think is going to be a really important trend – and a major new development – for procurement organisations.

As we said at the time: “that’s because the data it contains comes directly from the Coupa user community and is based on real spend transactions going through the Coupa platform, rather than subjective findings or opinions from respondents”.

Most surveys and similar are based on asking people questions and analysing their responses. But this report uses real data, so there is no chance of error or obfuscation (or indeed plain lying) from respondents. That clearly makes the results more valuable and relevant.

Coupa call this “community intelligence”, and its possibilities and implications go way beyond reporting and benchmarking of transactional KPIs. There are many ways in which the strength and value of the “community” can be used to benefit all participants, and it struck us that as technology enables faster, better and more powerful analysis (“big data”, if you like), this community intelligence concept was going to get more and more important.

We therefore suggested to Coupa that this would make a great topic for a Spend Matters briefing paper, and they said “yes”. Then Coupa said “actually, that would make a good webinar too” – and we said, “good idea”!

So, that very webinar is coming to a device near you. John Callan from Coupa and I are going to be discussing just what community intelligence means, and how it might help you in the future – but note, that’s the near future, not science-fiction timescales. The potential encompasses sourcing, risk management and a range of core and important procurement priorities, so this is important we’d suggest for anyone in the function to understand.

You can register here, its 10am on December 4th and we look forward to your participation. As always, we’ll make sure there is time for questions and discussion too, as well as giving you our tips for what actions you can take now to get some benefits from community intelligence.

And a heads-up that Coupa Inspire, on November 6th - 8th has now announced its keynote speaker on November 7th - Robert Peston, ITV’s Political Editor and host of their flagship politics and current affairs show will be presenting at 09.30 after the opening address from Coupa CEO Rob Bernshteyn. More details here.

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