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 ...
How leading CPOs optimize margins
Transparency throughout all procurement data is the cornerstone that helps procurement managers and CPOs to achieve the optimum from it.
In turn, transparency is the result of a standardized data base over the entire company and of the introduction of a rigorous categorization.
By introducing a spend cube, you will obtain your data in a form, with which you can reliably answer all questions and measure savings. The spend cube compiles all procurement-relevant data.
Note: Ideally, calculations are only made in this system and not with the data in the productive system.
If the spend cube is additionally equipped with this functionality, reports can automatically be prepared in your CI and sent to the desired recipient.
Benefits of this method:
- All figures can be compared companywide
- Promotes sustainable decisions in procurement
- Significantly more savings
With a professional spend management solution based on a spend cube, it is possible to query and compare potential savings, effects, and trends separately according to a random category. The net procurement success capable of being influenced by the procurement department thus becomes visible and measureable.
You will simplify the management of your procurement processes with transparent and categorized data.
We offer you a holistic solution for increased transparency, potential analyses and measuring your procurement success regarding indirect purchasing with our DataCategorizer, SpendControl and InitiativeTracker modules.
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In this blog you will find expert knowledge about initiative management and project management in strategic procurement. InitiativeTracker is a software for planning and monitoring your sourcing initiatives, controlling your procurement organization and measuring your procurement performance.
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