Overview „Orpheus InitiativeTracker“
Category: Initiative Management | Duration: 05:11 min
In this video we will show you what possibility the InitiativeTracker offers you to plan, manage and document savings in procurement in order to prove your procurement success and added value to the management.
The following problems are often found in larger, internationally-listed companies and corporations:
- The purchase hast to or would like to explain its added value to the corporate Executive Board
- The planned and also implemented savings of procurement are not measurable in the finance department or are ultimately not perceived, because they are, for example, reversed by market influences such as currency or commodity fluctuations.
- Although the measures are planned (usually in Excel), the follow-up of these measures or the success controlling is very laborious to consolidate and to prepare management-fair.
- Not forgetting the disadvantages that an Excel-based system brings with distributed but concurrent access
- Some of our customers even anticipate effective initiative controlling, as they reward their employees, measure and possibly participate in the success.
The Orpheus InitiativeTracker supports you in all points.
The Orpheus InitiativeTracker can adapt either to your measurement concept, which has perhaps already been established in your company for years or you trust in the best-practice know-how, that we have incorporated with leading consulting firms and international customers in our software and deliver them in the standard.
When creating a initiative, select a technical lever, a baseline to which the savings relate and the appropriate master data (even to the material level). Plan your initiatives for any time period and store a milestone plan that is controlled by a 5-stage Degree of Implementation process. A meaningful role concept also supports you in the management of larger procurement organizations or if you want to approve initiatives to appropriate Degree of Implementation Levels.
For the calculation of the savings we distinguish the following saving types in the standard:
- Cost reduction: These are EBIT-relevant savings that are measured against a historical or budget price
- Cost Avoidance: We understand either the prevention of price increases or the savings that you realize against a new, manual baseline (e.g. the best offer of a tender)
- And liquidity Increase: the positive effect on working capital by changing the payment targets.
If you make the baselines available to our tool as an upload, they are automatically made available to the user as a default value when a measure is attached and used for the savings calculation.
The historical data management of the Orpheus InitiativeTracker allows you not only a complete traceability of the changes in the system. You can also create a change reporting by processing this data to show you where, for example, savings have been logged off, moved or newly added since the last management meeting. You can also create a snapshot of the data in the sense of a forecasting process, so that you can put the current forecast against an earlier planning level or the budget stand.
Our software works with open interfaces. You can also download the data at any time and use it for your group reporting. Or you can use the InitiativeTrackers own web reporting, for which you also have the ability to create new, individual reports.
Added value for your procurement
InitiativeTracker is a software that allows you to plan, control and monitor your initiatives. The savings achieved through the initiatives can be measured and documented through the software.
- Plan and monitor your sourcing initiatives
- Control of your procurement organization by means of the values and initiatives
- Measure your procurement performance
- Early response to plan-is deviations
InitiativeTracker has been developed to give an overview to the procurement management, the controlling, the internal audit, external consultants or auditors at any time:
- What initiatives are still running?
- Which purchasers are currently working on which initiatives?
- With which activities and teams?
- How high are the anticipated and the already realized savings?
- Will we achieve the planned targets by the end of the fiscal year?
- What else is needed to achieve this goal?
The software allows you to map your procurement projects and activities, plan them and assign them to responsible employees. Keyword: Initiative controlling. Planned savings can be compared with your realized real-number comparisons and procurement successes easily displayed via comfortable evaluations.
With IntiativeTracker You can view all the savings initiatives and see in real time their target achievement level.