Thefollowingquestionandanswerswerecollectedduringalivewebinar withArtofProcurementtitled: “FromIsolatedZerotoEnterpriseHero: Bestpracticesformanagingholisticprocurementperformance.”
Enjoythesecommonquestionsandconversationalresponses fromourteam below.
Whydowetendtogravitatetowards whatisshinyandnewinprocurements?
JasonTreida: Therearealotofexcitingnew technologiesinthemarketplaceandnewinnovativeideas.Wefeelprocurementtypicallyfalls behindthecurveininvestmentfortechnology, andnowthey’restartingtocatchupalittle. Evenstill,technologyisrapidlychanging. The shinynewfeaturesandupdatesareallowing procurementtobecomemorestrategicand transparent.Thesetechnologycompaniesare makingmajorsplasheswithmassiveamounts ofinvestment.Inaddition,technologyprovidersaretakingoverconferences,andcreating abigbuzz.So,everyoneisexcitedtoseethe latestinnovationsandideasforprocurement. Alotoftheseupdatescanbecomeoverwhelming,withmanyoptionsintheprocurement technologylandscape. Iencourageeveryone tohaveaplantoevaluatewhattheyreally needtohelpthemmaketherightdecision.
PierreLaprée: Inthepast,weusedtosay,“One dollarsavedisonedollarthathitsthebottom line.”So,younaturallyhavethisdirecttakeon acompanies’profitabilityandhowtechnology investmentsareapartofthisstrategy.Asprocurementprofessionalsourselves,weknow thisispartofthechallengeandtemptation withtechnologyinvestmentstoday.
Doyouthinkcostsavingsmeasurement istooshortortoosmallofaperspective onwhatprocurementiscapableof doing?Becausewe’vekindofbuiltour professiononthatidea,butI’mnotsureif it’skindofself-limitingatthesametime.
PierreLaprée: Asprocurementprofessionals, wemustdeliveroncostsavings,butwewill stopexistingifweonlylivebythatmetaphor of,“Onedollarsavedisonedollartothebottomline.”Procurementteamsalsohavedifferentnegotiationstyles,sodynamicbidding, andallowingstakeholderstohavemoreinput, andnotfocusingjustonpriceasavalue-add. Therearesourcingsolutionsouttherethat arereallyhelpingtobepredictiveandprescriptive,andnotjustreactive,suchasusingAI tohelpyoufindopportunitiesinyoursourcing andprojects.
Everyorganizationshouldaskthemselves:
• Whatarewetryingtoachieve?
• Whatproblemsdowehave?
• Howarewetryingtosolvethese challenges?
• Howdowemanageoursourcingpipeline andtracksavingsagainstkeypriorities?
• WhatlanguageshouldIspeakwithmyinternalstakeholders,sowebuildacommon languagearoundgoalsandrequirements beyondcostsavings?
Howhaveyouseenthoseevolveina procurementorganizationasthematurity ofaprocurement groupevolves?
Pierre Laprée: Thelevelofyourmaturitywithinyourprocurement organizationwill typicallyinfluencehowyou measureand reporton procurement’sperformance Whenyou look atvaluestatus ofthe procurementorganization,youstartat withaverytransactional aspectand KPIsareabout howlongit takesto flipapurchaserequestintoa POandreducing cycletime.Inthose earlystages,performance trackingis typicallyaboutthe process improvementvs. thetotal valueof procurement. As you grow, youbecomemore structured, strategic, andintegratedwithinthe organization.Then, yousee procurement’simpact andvalue expandinto theentire valuechain, ecosystem, andsupplier base.Asa result,thosemetrics changeandgrowtomeasurevalue-addedmetrics,suchassuppliercollaboration.
« It'sajourney.Don'tlureyourselfinthinking thatyoucanstartdoingsuppliercollaboration ifyouareanewlyestablishedprocurement organization.Therearestepsyouneedtotake, andthat'sthematuritycurveofprocurement. »
Isthereadangerofhaving toomanymetrics?
PierreLaprée:Ibelievethereisnomagicintechnology,andthedatamustcomesomewhere. Eitheryoucollectthisautomatically,andthen youdependonthesystemtofunctionand reportproperly.Or, youneedtoinput itmanually,whichis incrediblytime-consumingand increasesrisk ofusererror.
Inallcases,youcanaskyourselfabout:
• Thelevelofresourceswithinyourfunction
• Thelevelofeffortyouhavetodeploy togetthosethings
• TheKPIsthatmatterthemosttoyour stakeholders,team,andsuppliersthat influencethebusinessthemost
Howcanwebalancethecostsavings initiativeswiththechallengeofhelping uppermanagementunderstandpriorities thatdon’thaveahardsavingsattachment tovalue?
PierreLaprée: That’saquestion that’svery closetoourheartsatSpendHQ.Ioftensay inaprocurementfunctionthatdoesn’tdeliver someeconomicvalueisineffective.Weusuallylookatcost-savingsorcost-avoidancewith anegativeconnotation. Buttherearemany waystoachieve savingstargetswithout ruiningimportantsupplierrelationshipsthat jeopardizethebusinessandqualityofthe product/servicewithendcustomers You can haveconstructiveconversationsthatcantake thecostortakethepricedownwithouthurtingyoursupplier.WhenIstartedasprocurementpractitioneryearsago,thewholeprocurementorganizationwasbasedonsaving multi-milliondollars onCALCO, becausethe marketwasmoving.Andthat’showweget thebusiness totalktous.You needtothink abouthowyoucangetyourbusinesstalking aboutyou.Establishthisbaselineoftrustand credibility,andmoneyisan excellentwayof doingthat. You shoulddothat inawaythat thediscussiononeconomicvalueofprocurementis nota diabolicalquestion. Balanceyour workby scrubbingthebits,showing your worth,andshowingyourvalueintermsofeconomicperformance.
InthecountlessCPOstudiesdoneinourindustry each year,costreduction remains a top priority. Executivesexpect costreduction fromthe procurementfunction becausethat’swhereyoucan seeanactualdifferenceinthebottomline.Extendingbeyondcost reductionis whenyou canbecomea Rockstarprocurement professionalwho helps the enterprise with the top line too.Of course,all ofthis comesdown tounderstanding youraudience–yourstakeholders–andfocuson havingconversationsintheirterms.Forexample, whenworkingwithFinance–theyareaboutPNL andhelping themreducethe numberof spreadsheets theywork in daily.Youwillgo farin your careerbydeeplyknowingyouraudience.
Therereallyisn’tadirectconnectionwith investinginthistechnology,investing inthesepeopleisgoingtomeanthese outputs.There’smoreworktobedone certainlyfromthatperspective.Whatare yourthoughtsonthisperspective?
Pierre Laprée: I wouldsaythat’swhysometimes weneedto thebasics. Andthe basicquestion everyoneshould ask is: «What’smyvalue propositiontothecompany?»Youneedaroadmap and then youmust demonstrateyour impact and results from that roadmap. Yourimprovement will come when youfigure out waysto makethe processsmootherand moreefficient for everyoneinvolved.Show people that field ofopportunities withthe procurementfunction drivingcriticalefforts.Askquestionssuchas:
• WherecanIhelpyoumakethebiggestimpact?
• Whereprojectsorprioritiesshould Imove tothefrontofmysourcingpipeline?
• WhatshouldIputinthe savingstracker foryou?
• Whatshouldwedowithourmoney?
Stayfocused andon trackso youdon’tget luredbyshiny objects. Alwaysfocuson the critical,corebusiness issuesbecause thatis wherepeople, process,andtechnology make thebiggest differencefortheentire organization. Technologyisjustameanstoanend.You needtechnology,butyouneedtothinkfirst.
Withprofessionalservices,whatareyour thoughtsonhavingtoostrictofmetrics?
Howdowemakesureperformance metricsdon’tholdusbacksowecanstill effectivelymanagetheperformanceof ourprofessionalservicessuppliers?
PierreLaprée: Consolidatingcontractsand stoppingthespreadsheetmadnessisimportant.So,it’simportanttoapplythesamefundamentalsandlessonslearnedtomanaging suppliersinathoughtful way–andthisinvolvesnotsendingthemahundred-linespreadsheetwithvaluescriteria. We failwhenwetry toreduceeverythingdowntoofar. Youneeda guidetodefinewhat’simportanttoyouand yourbusinessinternally.Then,usethatinformationandguide tohaveconversations with alimitednumberofkeymetrics. Iencourage procurementtofind waystohave morefaceto-faceconversations as well.You gainmore clarityandinsightwith averbalconversation thatiscapturedwithstrongnotesandfollow-upactionitems.Then,youcanput everythingintoperspectivewithactualscoresand metricstoassessprocurementandsupplier performance together.
Withalargenumberofsuppliers,remember thispracticeisaboutscalability.Startsmallto figureoutwhatworksanddoesn’twork–and thenlittle-by-little, you willarrive to asituation wheretherightmetricsbecomeobviousand feedbackiscollectedinameaningful wayvs. emaillogs only.
PierreLaprée: In myexperience, whenyou talk aboutsupplierperformancemanagement,it shouldn’tstartwhenthecontractissigned. SupplierPerformanceManagementshould startrightfromthesourcing,andtendering part. Listeningtoyoursuppliers iskey becausetheymightsaveyoualotofmoney. The bestwaytopicktherightsuppliersistolisten andrelentalittlebitofcontrol.Sometimes, it’shardforusprocurementprofessionalsto trustsuppliersbecausetheywantourmoney andbusiness.However, buildingthattrustand puttingintheeffortupfrontwillpay-offfor everyone inthelong-run.
Canprocurementasafunctionmature ifourmetricsdon’tmature?Arethose twothingsalignedwitheach other, or arewelookingtoodeeplyintowhat procurementmetricsare?
PierreLaprée: No;Ibelieveourfunctionwill notnaturallygrowifmetricsdon’t. Somehow, it’sthechickenandtheeggsituation.Insome instances,wemustchangeourmetricsto showtheworkhaschanged.Othertimes,we needtobechallengedbyourcompanywhen demandsandsituations changeinternally.For example,oneofourclientshadanissuewith stakeholderengagement. So,theystarted trackingprojectsthathad“zero”procurement involvement.Then,theCFOfoundametric where20%ofprojectshadnoprocurement involvement,whichwasabout$10milliondollarsofspending. Henotedevensaving5% wouldbeahugebenefit.
So, that metric of tracking engagement and involvementhelpedtheclientshowcasetherisk andloss ofproductivity withouthaving procurementinvolved.Oncethebusinesschanged, theyremovedtheinvolvementmetricandfocusedonmorematuremetrics.
You should alwaysfocuson creating an upwardspiralandelevatetheroleandfunctionofprocurementbasedonyourmaturity.
Nowaswegetaccesstomoredata, howcanwebettermeasureandreport procurementvalue?
JasonTreida: Thereahandfulof waystoget started.For example, you canlook atthe differentstagesofthesourcingcycleprocess, how longittakestorun anactivity,andcompare performanceacrossdifferentbusinessunits. You canstarttosee wherelowsavingsarereturnedwithahighinvestmentintimebased oncertainstakeholders,and projectcycle time.Thisinsighthelpsourclientsdigdeeperintoprojects,activities,anddatatrendsto identifyroadblocksoruncoveropportunities. Then,usingthedata,theycanworkwiththe stakeholderto uncoverwaystoreducebarriersandbecomemoreefficient.Projectplanningmetricsalsohelpmakethecaseformore resources,whenapplicable.
PierreLaprée: Thinkaboutthislikepeelingan onion.Onceyoustartpeeling, youseenew layersand insights. The same is true for looking atyourprocurementpracticeandseeingnew opportunitiesthatunfoldsimplyfromagraph thatinspirestothinkdifferentlyaboutacertainspendcategory.Then,theycanstepback toseeifthe dataisflowing properly, the expectationsarebeingmeant,andhowto make changesthathelp thebusinessgrow.
enchmarkingagainstyour peers and industry dataissomethingthatcatchestheattention ofstakeholders.Thisiswhereyoucomepreparedwithhardfacts andinsightsthatpeople have ahard timechallenging,which eliminates scenarioswherepeoplearemakingdecisions basedontheirgut-feeling orintuition. Technologyhelps procurement have organizations withtherestoftheorganizationusingfactbaseddata,insights,andtrendsthatchange everything.
Procurementisafunction whereverpeople function.Alotofpeoplefeartheprocessand change,butwithinabusinessofrelationship.
« Weneedtoalsolearnhowwecan influencethebehaviorofpeople,and sometimesdataisagoodallyforthat. »
Whataresomeofthoseprocurement ritualsthatyouseeconsistentlythatyou arehelpingfolkstobreakthrough,so thattheycanperhapselevatetheroleof procurement,haveadifferentoutcome withtheirstakeholders?
PierreLaprée: Thefirstexamplethatcomes tomindisthe controlfreaks.Forexample, wehaveonebigclientwhoused tohavesix differentdesignationsfromtheidentification ofthe project, through thecompletion andthe reportingofthesame.Sixtimes.Andoutof thesix,threethingsdelegatedthesamething inthreedifferent ways.Therewasnovalue. Performancepeoplearesmartpeople.
Theyareeducatedpeople,andtheycanmake decisions. Transformation happenswhen peopleletgoofcontrolandtrustperformance-basedprocurementprofessionalswho usetheir brainwellandworkmarvels,even ifthisgoesoutsideof astandardprocessor controlledframework.Thisischallengingfor peoplewhovaluecompliancefirstandsecurity, butwhenitcomestosimplifying stepsto gofromsixdelegationstoonly two,that’sa hugetimesavingstoincrease productivity.
Inaddition,procurementshouldbefocused onhelpingtheirstakeholdersquicklyget answerstheyneedintermsofprojectstatus, thenextstage,andanyroadblocks.Thisagile approachismoreproactive helpsprocurementgetfeedbackearlyontobecomemore transparentandcollaborativevs.beingreactiveand workingin aspreadsheetthat noone elsecansee
Also, understandthebalancebetweengovernanceandrituals.Governanceisimposedby theorganization becausewanting to dothings inacertainway, andthat’sthevalidation. The ritualsaresomehowthe informalgovernance.
Thiswillhelpyouunderstand:
• Howdoweensurethatweagreedonthe baselineandambition?
• Before wegetto theendresult,whatneeds tohappeninthemiddleoftheproject, sowespeaktotherightpeopletofollow courseandhitourtargetsandgoals?
Alwayscareaboutthepeople part.You must talktopeopleanddoyourbestto avoidmisalignedinterestsorconcerns. Buildoutrituals thatfosterandbuildtrust.Thiswillhelpyou elevatetheroleofprocurementandbring newvaluetothecompany
What’sonehabitthatwecanimplement inourdailyprocurementlivestobemore productive?
PierreLaprée: You must“walkthe talk”in yourworkandinteractions.Startoutlining yourroadmapandbuildoutyourplanwith stakeholdersandFinance atthecore.Keep theteammembers,stakeholders, andexecutivesupdatedandexplaintheresultsyouare measuring.Thisagile approachtoprocurementtakestime,but thekey istomake procurementvisible,transparent,andindisputable.
Iguessthat’dbe,oneof theexpressionsI learnedfromanAmericancolleagueiswalkingthetalk.Ithinkthatthisiscriticalinprocurement.You needto start outlining your roadmap,andyoushouldbuildthiswiththe stakeholdersand withfinance You should keepthemupdated,andyoushouldexplain theresultsyou’remeasuring.Sharethedata withyourstakeholdersusingterminologyand examplesthatresonatewiththem.
« Thesinglebiggestthingyouneedtomake happenisgettingmorestructureandmore transparencytowhateveryou’redoing. »
Therearemanywaysofdoingthat,but it startsfromyouand possiblyyourmanager. Thisshould notcome from thehead offinance orthehead ofprocurement.Youareproficient allyouneedtoworkinverystrictmannerand makethatvisible.
Also, haveaclearendgoalinmind. Askyourself:
• Whatarewetryingtoachieve?
• Whatisthevalueofthisproject/effort?
• Whatstakeholdersneedtobeinvolved?
• HowcanIbeavailabletomystakeholders throughouttheentireproject?
• HowcanIshareprojectupdateswithout overwhelmingmyteamwithtoomuchinformation?
• WhatchangescanImaketobecomemore transparentandcommunicativewiththe business? Whatkindofrecommendationsdoyou givetofolkswho,asthey’rethinking aboutwheretostartintheirinvestmentin procurementtechnology?
JasonTreida: The best advice is to truly understandtheendgoal.Considerwhatthebusiness reallyneeds,howthey willuse thisprojector plantobetter serve thebusiness,and howdoes thistechnologywill fosterapositiveadoption vs.createanothercomplicatedtool forpeople tomaster?AvoidusingmassiveRFPswithhundredsofquestions.Leanonaroadmapthatdirectlyconnects tothe visionof thecompany. Alwayslookforsolutionsthatfill gaps,alignto commongoals, andhaverealistictimelines in mind.Thereis alot ofvalueyoucan gainby simplytalkingtoyourpeerstoo.
PierreLaprée: Theworldoftechnologyhas changed. Now, it’seasier to,“Trybeforeyou buy.” Trustthesupplierandask themtoshow youhowthetechnologyworks insteadofassuming400linesonaspreadsheetwillget youtheanswersyouneed.Thishelpsyousee,
inreal-time,how thetechnology willworkwith yourcurrentsystemsand discoverhowyou cantailorthisprojectdirectlytoyourneeds andgoals.It’smuchbettertodedicateone ortwoweeksofworkshopstosomevendors tohaveaninteractivelearningexperiencevs. lettingExcelfilesdecidebasedon“YES”or “NO”checkboxesofrequirements.Thereisno cookiecutterapproach. Whenlookingfora procurementsolution,askyourselfquestions, suchas:
• Dowe needallthefunctionalityornot?
• Howlongisthedeploymenttimeline?
• Whatisthebiggestrequirementofallthat influencesthebiggestareaofthebusiness?
Sometimes,timeis thebiggestrequirement of all.But,don’trushabiginvestment–dothe rightthingforyourteamandtheorganization atlarge.
ortransactionalactivities–youriskbeing replacedbyrobots.
Start-upcompanies today are pitchinghowdigitalprocurementactivitiesarebeingdoneto automatethebiddingprocessandmakedecisionsautomaticallybasedoncomplexities.If that’stheonlyprocurementactivityyouknow howtodo,youneedtothinkofwaystolearn newskillsortechnologiestoputyouahead ofthecurve.Ifyouareopentolearningand adoptingwithtechnology,youcanstillremain helpfulandrelevant.
Giventheexpandeduseofmachine learninginbusinessanalysisandin monitoringprocesses,doyouexpectthat greaterautomationwillbringgreater data?Willthischangethewaywemanage procurementperformance,orwillthis largelybesomething wetrackseparately fromouractivitytolookimpact, progress,makingadifference,etc.?
PierreLaprée: GreaterautomationandAIarean excellentwake-upcall. Ifyouarea procurement organization focusedon low-valueadded tasks,mundane activities,
Nowisthetimeforprocurementtoactand protecttheirjobstomaketheirlifeeasier usingtechnologyandnewprocessesandmethodologiesinsteadoflettingmachinestake over. Everyoneisstilltrying tofigurethis out, but I believe you needthe humaninvolvement tomakesureyou havegooddata.Ifyou don’t havegooddata,AIwillnotaccomplishanything. People still matter a lot, and that should beamotivatingfactorforeveryonethinking aboutprocurementinthenewdecade
Asprocurement professionalsourselves, wekeptseeing acommon trend amongnearly allprocurementteams. Perhapsyouwork foran established, globalcompanythat isahousehold name.Ormaybe youworkforasmaller companywithaggressivegrowthstrategiesandtactics.
Regardlessof thecompany sizeand vision, nearlyall procurementprofessionals havestruggled with effectively structuring the day-to-daystrategicsourcing management ofthe procurementoperations. Therearenever enoughhours inthe dayforus tocompleteour criticalwork, letalone discovernewopportunitiesforthebusiness.Sometimes,ourdataiswrongbecauseforecastsaren’tproperlyupdated.Other times,wearerelyingonother peopleto inputthe latestcontractor supplier datato ensurewearespendingon-contract,within terms,and hittingthe savingstargetswepromised ourleadership teamduring ourannual planningmeeting lastyear. Doesthis soundlikeafamiliarstorytoyou?
Regardlessthe levelofmaturityand themixof Procurementtechnology that ourinterlocutors have,wefind thatthe variousaspects ofstrategic sourcing(and theso-called Source-to-Contractprocess)worksinasub-optimal way,insilos.ProcurementPerformanceManagementisasetofactivitiesthat strategicsourcingteamscan putin placetoget thebest outof thesetools. Itintegrateselementsof teammanagement, ofpipeline management,andof communication.
ProcurementPerformanceManagement iswide-ranging interms ofexpectedoutputs:cost optimization,of course,butalso suppliers-,risk-, stakeholder-management,innovation.Itgenerallystartswith cost reduction.Farfrom beingsomethingbad,thisis often an enabler,a first stepin thematuritycurve toobtainthemeansand credibilitytogrowtomorevalue-addingareas.
PPMwill helpyouup procurement’sgamewith uppermanagement across theentireorganization. Now,youcancreateastrategicvalue(costsavings+ innovation)thatputs Procurementattheheartofacompany’sprofitability.
DespitealltheProcurementtechnologyavailable,CPOsstillstruggletoprovidea real-time,accuratepicture ofProcurement performanceto Finance orthebusiness. Largeenterprises dealwithprocurementoperationsthat are spreadout throughouttheir organizations.Theyhandle spendvolumes of hundredsofmillionsto billionsevery yearin directandindirect procurement. Thiscan addupto60%of theirrevenue
Technologyiseverywhere in procurement. Weareslightly obsessed with automating, digitizing, integratingeveryprocess and task, and yetweare leavingbiggaps thattechnologydoesn’t begintoaddress. PPM isaunique approachthatisrootedinhelping youachievebetter:
Accountability
Everyoneonyourteam knowstheirrole,tasks,and impactonthebottomline.
Collaboration
Facilitatefact-based discussionswithFinance andyourstakeholdersthat arebasedonsharedmetrics andcommongoals.
Setgoals,reshuffle priorities,andtrackboth individualandcollective performanceofyour procurementteam.
Withaflexible,yetaccessiblePPMsolution,youcanbettermanage performancetoseethevaluableimpactprocurementiscontributing throughoutthe entireorganization. Youcanfree yourselffrom tactical andtediousnightmares,suchas:
Tracking downthelatestversionofyourspreadsheet.
Searchingthrough 10different solutionsfor projectupdates foryour sourcingpipeline
Diggingthroughthelatestcostsavingsdataforyournextmeeting withFinanceandkeystakeholder
Attemptingtoconsolidateupdatesfromdifferentbusinessunits thatreportindifferentformatsforglobalreportingpurposes
Hopingsomeonedidnot overwrite aformulaor inputbaddata that willspoiltheoverallreporting
Instead,youwilldiscoverthatPPMhelpsby:
Makinganeven greaterimpact onthebusiness withstrategic sourcing.
Improvingthe management ofrunaway spend.
Empowering yourteam members totakeownership withstronger collaborative.
Boostingteam productivity byremoving bottlenecks andreallocating workloadsinan agilemanner.
Measuringthe progress eachproject inreal-time.
Communicating yourprogress andresults toallstakeholders withindisputable reports.
Consolidating allyourprocurement team’ssource-tocontractdataina singleplace.Nomore lostpapertrailsbecauseofbadfilingor staff turnover.
Demonstrate procurement’s truevalueto thebusiness
1. Identify
4. Collaborate
Identifyallpossibleopportunities toreducespend,cutrisk,andboost vendorquality.Bealertedtocontract expirydates,businessteams’demands andexternalmarketevents,such aspotentialriskswithyourexisting suppliers—tonameafew!
CompletetransparencyintheSourcing Pipelinefacilitatesagilemanagement andcollaboration,andspeeds realizationofsavingsandcompletionof projects.
Anticipatebottlenecks.Re-prioritize effortlessly.Greateragilityalsomeans youarebetterabletoanswerbusiness stakeholders’requests.
2. Prioritize
Prioritizesourcingprojectsinyour SourcingPipelinebasedoncriteriasuch asvalueand risk.Yourteamknows exactlywhattodoandwhattheyneed toworkonnext.Effortlesslyreshuffle prioritieswhen necessary.
3. Forecast
Produceareliableforecastof contractedsavingsforeachsourcing project.Continuouslyre-forecast assourcingprojectsprogressalong theSourcingPipeline.Inadditionto qualitativebenefits,enjoyatrusted pipelinefigurethatprovidesthetotal expectedcontractedsavingsyour teamiscommittingtodelivering withinspecificfuturemilestones (quarter, fiscal close).
5. Measure
Identifyallpossibleopportunities toreducespend,cutrisk,andboost vendorquality.Bealertedtocontract expirydates,businessteams’demands andexternalmarketevents,such aspotentialriskswithyourexisting suppliers—tonameafew!
6. Communicate
Shareclearprogressreportswithall stakeholders.Demonstratetoother departmentstheimpactyouare havingontheirbusinessintermsof reducedrisk,bettervendorquality andlowerspend.Stopbeingseenas thespendpolicebutasastrategic businessfunction.
AboutSpendHQ
SpendHQistheleading best-in-classproviderofenterprise SpendIntelligenceandProcurementPerformance Managementsolutions,followingits2022mergerwithPer Angusta.
Theseproductsfillacriticalstrategicmanagementgapinthe solutionlandscape,by producingactionablespendinsights thatdrivenewinitiatives, goals,and clearmeasurementof Procurement’soverallvalue tothebusiness.
Backedbynearly20yearsofprocurementexpertiseand deliveredto 450+globalcustomersandgrowing,SpendHQ’s solutionsgivebusinessestherapid,accuratespendintelligence andperformanceoptimizationneededto drivebetterfinancial andnon-financialoutcomes,advanceprocurementmaturity, anddemonstrateimpactwithdata.
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