Orpheus Blog - Procurement Intelligence
DPW’s DEMO Virtual Grand Finale - Defining the future of procurement
On September 23, an audience of over 500 people enjoyed a look at the future of procurement technology at DPW’s DEMO Virtual Grand Finale. As sponsors of the event, we were delighted to watch nine great startups present their cutting-edge procurement tech solutions, and hear thought-provoking and tangible insights around the future of procurement.
Orpheus named Value Leader in Spend Matters Solution Map
Spend Matters Solution Map Q3 is out and we are officially recognized as Value Leader in Spend and Procurement Analytics in our first-ever participation!
“We are very proud to be recognized as a Value Leader in Spend and Procurement Analytics. Our position within the Solution Map reflects our striving for relentless customer satisfaction. It also confirms our solutions’ high-quality abilities in generating true added value - fast!” says Dr. Jörg Dittrich, Founder & Managing Partner at Orpheus
DataCategorizer is certified as built on SAP Cloud Platform
Nuremberg - June 27, 2019 - Orpheus DataCatergorizer has received SAP certification for the SAP HANA® platform. The solution has been proven to run on SAP HANA and leverages its unique capabilities.
The SAP Integration and Certification Center (SAP ICC) provides certified partner applications based on the SAP Cloud Platform that have been enhanced to work with SAP cloud solutions and run on the SAP Cloud Platform.
"We are pleased to announce the successful development of our DataCategorizer, which is now certified according to built on SAP Cloud Platform", said Christian Ruck, COO of Orpheus GmbH. "DataCategorizer's ability to leverage the power of the SAP Cloud Platform will prove to be very beneficial to our current and future customers."
DataCategorizer is certified as powered by SAP HANA
The Orpheus DataCategorizer supports clients in swiftly achieving group-wide transparency within their procurement data, required for reliable analyses. An AI-backed framework implements various functions for Semantic Data Management (SDM) and thus enables automated spend classification, harmonization, structuring, enrichment and improvement of all (procurement-)relevant, transactional- and master data.
4 Steps: Predictive Analytics in Procurement
Identify interdependencies, support forecasts, detect price risks early on and illustrate savings potentials with correlation and regression calculations
Indirect Purchasing: Transparency, potential analysis and performance measurement
In many companies, the purchase of so-called direct materials that are incorporated into the final products is part of the core business. These purchases make up approx. 70% to 85% of the purchasing volume within the manufacturing industry. All other purchasing categories, such as services, IT, marketing, etc., which are often referred to as “indirects”, make up the remaining 15% to 30% of a corporation’s purchasing volume that is controlled via indirect purchasing.
3 Steps to improve Data Transparency in direct and indirect purchasing
A classification of procurement data – in other words, the purchase vouchers such as invoices and orders – is the second most time-consuming step in the implementation of an efficient Spend Management system.
Calculate the benefits of transparency in purchasing in 6 steps
Big procurement successes are the payoff for arduous preparatory work. With internationally operating corporations, in particular, the first step is the recognition of the bundling potential across the group. This is only possible if the ‘same’ goods and services, as well as the shared suppliers, can be identified across all divisions, business branches and companies. This can only be achieved if the material (groups), suppliers and prices for the goods and services were extracted, merged and harmonized from the various information systems.
The added value in purchasing: What all constitutes cost savings and how is this measured?
Since the external expenditures of a corporation make up a large part of the costs, purchasing is faced with correspondingly high expectations to achieve cost savings. The financial perspective is assuming a major role and the added value in purchasing is gaining importance, not least because the pertinent systems and tools for the measurement of cost savings are gaining more and more possibilities and significance. Ultimately, the question of what the actual added value in purchasing is, and how this is measured in order to appropriately illustrate the success of the purchasing department and its part in the performance of a company, arises.
Big Data Analytics in strategic purchasing
For a few months now, the term Big Data has been a hot topic in the media. Yet what is really new with respect to well-known instruments such as SpendAnalysis and procurement controlling? Big Data in strategic purchasing primarily aims for a higher “analysis intelligence”. The objective is to obtain new, hitherto unknown, conclusions from the data.
5 proposals for truly sustainable purchasing success
A primary function of strategic sourcing is to reduce the purchase price of direct and indirect goods and services within a corporation. If nothing else, the success of this mission unfolds its impact in significant economic parameters of due diligence. On the one hand, more favorable purchasing prices contribute to improved profits. On the other hand, the available cash flow increases – the saved money is available for other business purposes.
How to Introduce Successful Initiative Management in Procurement (Part 2)
In many companies, initiative management and controlling still only play a minor role. Orpheus set out to understand the reasons and “stumbling blocks” and has illustrated essential “design criteria” in this article that play a large role in the success and failure of initiative controlling and initiative management...
How to Introduce Successful Initiative Management in Procurement (Part 1)
Currently, many companies in procurement are still focusing on the automation of their operative procurement processes using SRM software modules, such as RfX, e-Procurement, Contract-Management, etc. However, on a strategic level in procurement and initiative management, there is at least a equally great potential for utilization ...
Planning, Managing, and Measuring Procurement Success Using Degrees of Implementation
Procurement projects or initiatives often used to be managed with simple Excel templates. Now, there is special software for project management in strategic procurement. The underlying idea is to apply ideas for savings success as procurement initiatives or projects and to plan them…
The 6 Savings Types
Procurement answers for a large cost block, especially in manufacturing companies or in trade enterprises. This cost block should be managed. Savings should be achieved and performance should be verifiable. In this article, we will present you with a fundamental system…
Measuring RFP Savings… But Doing It Right
In the procurement department, the relationship to the supplier is also a central focus with performance measurement. The services, prices, and quantities established in supplier agreements are essential parameters for the efficiency of procurement and its added value for the company...
Calculating and Analyzing Material Price Variance (MPV) - 6 Basic Rules
Material price variance – sometimes also referred to as material cost variance (MCV) – is an essential key indicator for spend managers. It is important because it is a central measure for the success of procurement relevant to profit and loss. It sets the current price for a material in relation to a reference price (e.g. average of the previous year) and measures the difference with the currently procured quantity…
Project Management in Procurement beyond Excel
Saving initiatives have been introduced and their success measured for many years. Now, a certain professionalization is being introduced ...
Structure of a Strategic Spend Management System
Procurement departments are increasingly evolving away from being an order service to being a powerful strategic instrument within their company. Procurement departments are making more and more important decisions. However, there is still heavy resistance from the other departments. Unfortunately, procurement still takes place locally in complex, international corporate hierarchies without the central procurement department being informed about these procurements…
Indeed it is possible – we can optimize our margins significantly easier and even better with transparent data. However, how do we create sustainable data transparency throughout all procurement data of the company? You will find out in the following article ...