In this session, we will discuss how a next generation procurement transformation platform should be able to predict what a buyer needs based on purchase history, pre-negotiated content and organizational policies. This can be achieved only through a technology platform that is able to capture purchase insights and apply this actionable intelligence to forcibly offer users compliant choices of items and suppliers. The first step to achievement is to consolidate suppliers and centralize content based on pre-negotiated contracts, prices and volumes. Today, many procurement organizations are battling basic challenges such as maverick spend and low compliance. This is because many technology platforms, however robust, lack visibility into the organization’s purchasing policies and pre-negotiated contracts/suppliers. As a result, buyers end up purchasing items from off-contract suppliers at a higher price, leading to non-compliance.
Topics covered in this session included:
- What procurement tools and policies have focused on in the past and the outlook for sourcing and procurement over the next five years
- How to balance and bring the four main procurement focus areas together: vision, content, software, services
- How to light up sourcing and procurement through an integrated ecosystem, allowing for companies to be nimble in the face of emerging disruptive business models
- The importance of the casual user’s adoption when planning procurement tools and policies, and how “guided buying” can help
Categories: 2016 Spring - Orlando, Summit Presentations
SRC Type: Outsourcing, Procurement Outsourcing / Transformation