Manage Your Sourcing Initiatives
InitiativeTracker helps you to plan, manage and monitor your sourcing initiatives with one single software solution. In addition, the savings achieved with the initiatives can be measured and documented with InitiativeTracker.
Use Project Management for Sourcing Initiatives
InitiativeTracker is a specialized project management system for sourcing initiatives. Staff members assigned to an initiative report planned forecasts and achieved savings of certain items such as materials, suppliers, contracts or projects/RfP as well as the status of the activity regularly to the management.
Create Transparency for Planned and Achieved Savings
InitiativeTracker has been developed to provide CPOs, controllers, auditors and external consultants with an overview of:
- Which sourcing initiatives are still on-going?
- Which purchasers are working on which initiatives at the moment?
- With which activities and which team are they working on the intiative?
- What is the actual volume of expected and already achieved savings?
- Will the planned goals be achieved by the end of the fiscal year?
- What is still missing to attain the goals?
Analyze Sourcing Initiatives and Savings with Predefined Dashboards and Reports
By using professional saving dashboards, your management is able to see whether the planned savings can be achieved within a set timeframe and to the full scale. It can also be recognized if there are any implementation problems in individual divisions, categories or teams (e.g. delays or unplanned investments).
The analyses also show to which extent the purchasing organization has been mobilized by means of certain initiatives (dynamic of activities), and if there is any room for improvement.
Connect InitiativeTracker with SpendControl to Centrally Access All Data
When using InitiativeTracker and SpendControl together, spend information (baselines) extracted from SpendControl are provided to plan your sourcing initiatives. In addition, estimates and calculations of savings can be imported, and comparisons of planned and actual figures can be performed automatically.
It is also possible to integrate InitiativeTracker in other spend management systems based on, for example, SAP and Ariba.
Manage External Consultants and Calculate Performance-based Fees
InitiativeTracker helps businesses to actively manage their sourcing consultants and to analyze the progress and results of their work on an ongoing basis.
Especially for performance-based sourcing projects both partners need one tool to clearly and mutually define framework conditions and prerequisites of a sourcing project or program; to plan and control the activities to be carried out; and to document, and in most cases even to directly measure, savings.
Certify Your Savings with InitiativeTracker
InitiativeTracker assists your purchasing department in creating standardized documentations of all activities. That way controllers and internal or external auditors may understand, accept and approve the achieved savings (or reject it with good reasoning).
The software connects individual scorecard goals with saving initiatives, individually listed activities and corresponding results.