World-Class Procurement Spends Less
World class procurement organizations are more cost effective, deliver more efficient services to their companies and generally drive higher overall value to their organizations. This according to The Hackett Group’s recent research report, The World-Class Performance Advantage: How Procurement Organizations are Reinventing the Stakeholder Experience.
Hackett’s Global Procurement Advisory Leader Chris Sawchuk is someone I’ve known for some time, and I believe him when he reports numbers – Hackett is intensely focused on measuring and quantifying procurement excellence. Those who have seen Hackett’s famous “Book of Numbers” know of which I speak.
In a recent Supply & Demand Chain Executive article, Chris summarizes the ways leading procurement teams have succeeded:
“They have increased the scope of their spend influence, the savings they are able to capture and the value delivered beyond hard-dollar savings, in part by emphasizing on-demand analytics and market intelligence, and realigning their service portfolio.”
The Ivalua Unique Solution
Here at Ivalua, we believe strongly in delivering a solution that provides a foundation for procurement excellence for precisely the reasons Chris mentions. The idea goes beyond simply implementing a series offunctional modules. It is more than just putting a set of applications in the cloud. It is even more than a cutting edge user interface.
A foundation for procurement excellence is about results, and about providing a procurement organization the infrastructure to drive savings and to cover all categories of spend without incurring unnecessary costs every time you need a report or want to adjust a workflow rule. It is about managing risk across a supply base that has data in many different locations, and about applying rules and triggers to real-time critical data to help accelerate informed decision-making.
Quite simply, when procurement delivers more value, the entire company becomes more valuable to customers and all stakeholders. This is what we’re about at Ivalua, and it is nice to see Hackett helping all of us keep our eyes on the prize.