Turbocharge your category strategy execution & drive continuous business value Category owners invest significant time in stakeholder engagement, in data gathering, cleansing and analysis and in collecting key business requirements together with comprehending market dynamics to formulate the right category strategies. However, creating category strategies and communicating those effectively is only 50% of the…
Rewiring Spend Analytics – the New Era Procurement has more than ever to gain from advances in technology—and more to lose from falling behind. A particular area being disrupted today in procurement is spend analytics in the Plan-to-Strategy process. Having clarity and insights of your spend is fundamental. It is the base on which strategic and…
Data Harmonization to expand your addressable spend Procurement teams are constantly facing challenges when it comes to increasing their addressable spend to rationalize supplier base and negotiate better terms with suppliers. This article is a deep dive and follow up on “addressable spend key challenges blog”. Here we specifically review data quality and homogeneity challenges…
Addressable spend: key challenges and enabling technology Let’s quickly refresh on the key definitions. Spend for procurement can be simplified as: Total spend: This is the total spend, both internal and external purchases, relevant to the procurement organization including salaries, taxes, etcetera. Addressable spend: This is the portion of spend that the procurement teams can…
Using A.I. to verify & improve your spend framework and accuracy The Challenges Businesses Face For any-size organization with the intention to manage and orchestrate their spend, the very fundamentals are access to those spend and a framework (classification) to associate the spend to. We are all aware of challenges on data-access but today want…
