What Are Spend Analysis Methods? Spend analysis is, quite simply, exactly what it sounds like—analyzing how much you’re spending and what you’re spending it on. Spend analysis and procurement roughly means the same things, but there is a much deeper methodology behind the analytics. Analyzing the spending habits of an entire purchasing and procurement department […]
If you are navigating the challenging process of choosing an eSourcing platform, I recommend that you consider analyzing results from the latest Spend Matters SolutionMap. Since the first SolutionMap was published in late 2017, it has been used by thousands of organizations in their evaluations and buying decisions.
Are Your RFPs Delivering the Cost Savings and Efficiencies Promised? RFPs that fail to deliver expected cost savings and/or efficiency gains frustrate procurement professionals and stakeholders. The issues typical revolve around insufficient planning or conflicting goals. As you read the points that have been shared with me, consider how these issues have impacted your organization. […]
Procurement Challenges Checklist – Are You Moving Forward or Treading Water? [et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] This week I offer the most common challenges that are shared with me by procurement professionals. Most folks that contact me are: Grappling with a system […]
Optimization Plus Negotiation Leads to Profitability and Provides a Strategic Advantage Optimization can put your team in a strong negotiating position that should translate into profitability and a strategic advantage. Today it is far easier to collect big data then it is to use it to create a strategic advantage. There are procurement tools that […]
Spend Control – The Elephant in the Room If your organization is like most I have worked with, there is an elephant in the room that is smothering spend control success. My philosophy of spend control is that it includes cost and time savings. Spend analysis tools combine data from different systems into a powerful […]
Still Attaching Excel Spreadsheets in Your eSourcing Tool? Many procurement professionals are still attaching multiple spreadsheets in their eSourcing tool. There appears to be many reasons but the most common answer I hear is that it is just too difficult to duplicate the functionality of Excel in their tool. I love Excel but… If you […]
Total Cost of Ownership – Essential Information Your RFP Tools Should Calculate Automatically Total Cost of Ownership (TCO) is essential information that your RFP tools should automatically provide and allow you to slice and dice quickly. Much has been written about TCO. This can be a challenge to nail down completely since there can be […]
Do You Know Specifically Where 80% of Your Spend is Going? I often start a conversation with a client or prospective client with this question: “If you knew where 80% of your spend was going, how much better would your results be?” Almost every person has responded that they would love to have better spend […]
What Rogue Spend Can Tell You Rogue spend can tell you some things about your organization you may not have realized. Finding out may be painful as it may indicate shortcomings in procurement performance. Here are some of the issues I have been told to “justify” rogue spend: Frequent quality issues A decrease in on […]