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 could dramatically reduce your RFP setup and analysis time wouldn’t you want to do that?
Do you feel like you are drowning in data?
Does it seem like every analysis that is completed leads to a new request from your boss to consider three more options or six more variables?
Do you find yourself spending hours or even days extracting data from supplier spreadsheets to put together each side-by-side analysis?
You aren’t alone.
eSourcing tools should make your life easier but if you must manage spreadsheets instead of the tool doing the analysis then your tool is making life more complicated than it needs to be.
If you are thinking that a tool that could reduce the time required by 50% might put your job in jeopardy, this rarely if ever happens.
By eliminating attached spreadsheets, you will be able to do much more with the time saved. This will allow you to generate measurable gains that will make your stakeholders smile.
The reasons are simple.
When all the information is in your sourcing tool you will have the current and historical facts at your fingertips.
The facts can be accessed and analyzed faster and with greater controls and safeguards.
Common errors in transferring information to Excel are eliminated.
It isn’t just for complex events and analysis. Quality eSourcing tools will handle routine sourcing events in less time and with stronger controls.
This is empowering.
We recently set up a demonstration event for a potential client. This client typically spent three to four months preparing and analyzing this annual purchase.
It did take us the better part of a week to set it up but we did it.
The potential client realized that they would likely save 40 to 50% of the time currently spent.
They also realized that the information they would generate would significantly enhance their negotiation position and that was the silver lining.
If you believe that you can do things in Excel that you can’t do in your current solution, I invite you to reach out to me and I can set up a sandbox event.
If the roles were reversed, I would certainly do it this way because I can be a skeptic and I love proof.
Action Step: Every organization wants to protect profits. If you believe that your procurement process could benefit from an independent review, a professional like myself can provide guidance and expertise to help your organization achieve the results you want. If you would like to explore this topic in greater detail, please contact me.
If you want to explore a purchasing or procurement topic in greater detail, I invite you to request 30-minute discovery conversation. In my experience the next step will be apparent at the end of the call. I never assume that my recommendations will be right for everyone, so don’t expect a sales pitch. You can reach me at (973) 718-7071 x875. The call will be forwarded to my mobile phone if I am not in my office, which is pretty likely.
Organizations of all sizes are reducing costs and increasing efficiency, without changing the way they conduct business. If you would like to know how, simply give me a call or send me an email with your contact information and the best time to reach you.
You Won’t Drift to Success©
Think about it.
Until Next Time, I Wish You Great Success in Your Business and in Your Life