savings is required

  • The 6 Savings Types

    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...

  • Impact & Savings Tracking

    Plan, forecast, and measure the impact of savings initiatives and more Impact & Savings Tracking is a project management system for sourcing initiatives. It allows you to identify, plan, manage, and monitor all sourcing initiatives. The real-time...

  • FAQ: Cost Savings

    What is meant by Cost Savings in Purchasing? Cost savings in purchasing can be divided into different categories. Typically the differentiation is between: Cost reduction Cost Avoidance Availability effect or working capital effects Since what is...

  • FAQ: Savings Pipeline

    How do I manage a Savings Pipeline? The savings pipeline shows which savings initiatives are planned at what point and how high the individual purchasers figure the savings effects. As an analytical method, the savings pipeline is a part of initiative...

  • Spend Management Overview

    SpendControl – What’s that? SpendControl is a comprehensive software designed to provide a platform for significant cost savings through automated procurement analytics and spend management. Our software encompasses KPIs, analytical metrics and other...

  • FAQ: Budget Savings

    What are Budget Savings? Budget savings are referred to if the company has paid out less than originally projected in the budget. Most of the time, these effects involve savings that affect results (see also Cost Reduction). Impact & Savings Tracking...

  • 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...

  • The added value in purchasing: What all constitutes cost savings and how is this measured?

    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...

  • Planning, Managing, and Measuring Procurement Success Using Degrees of Implementation

    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…

  • FAQ: Degree of Implementation Systematic (DOI)

    of implementation represent a specific type of project milestones. They illustrate how close planned effects (e.g. planned savings) are to implementation. In this sense, they represent status information for activity forecasting that can also be...

  • Orpheus Videos InitiativeTracker Overview

    modal52} 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...

  • FAQ: Potentials

    potentials are there in purchasing? Potentials in purchasing can refer to many different contexts. Reference is to cost savings, for example, when speaking about savings. These could be potential reduction of purchase prices from which cost savings...

  • Procurement Performance Measurement

    Procurement Performance is a question of the definition. Every organization has a somewhat different understanding as to what should apply as a success and thus influence the added value of the purchase. Procurement Performance Measurement provides an...

  • FAQ: Savings Management

    What is Savings Management? The term “savings management” is used in international companies in supplementation to the term “Spend Management”. We want to emphasize that management does not focus solely on procurement volumes, including pricing and...

  • FAQ: Cost Reduction

    direct impacts on the profit and loss statement of a company. In procurement, cost reductions can be organized in various savings categories. We principally differentiate between: historical savings budget savings technical savings Impact & Savings...

  • FAQ: Procurement Planning

    planning in detail? In addition to budgeting, forecasting key indicators such as procurement volumes (spending) and savings are included in procurement planning. When planning for spending, quantity and pricing planning can be done separately. Further...

  • 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...

  • Orpheus Videos Financial Savings Management

    Video on the topic "Financial Savings Management" (DE) Category: Performance Management | Duration: 02:19 m {loadposition modal52} As a CFO, you make decisions. You define strategies and you have to ensure that these strategies are also implemented....

  • Start - Modern solutions for the future.

    ad hoc analyses? Actionable insights … we could turn data into insights and recommendations to achieve impact and fuel your savings and value generation pipeline? Accurate impact management … we had a tool-supported, standardized, automated process to...

  • FAQ: Procurement Performance Measurement

    and processes that are necessary for measuring procurement success. Thorough and fine-grained procurement planning (or savings planning) as well as modern spend and initiative management are decisive for integrated procurement performance management....

  • FAQ: Initiative Management

    and actions, provide activities for achieving them and initiatives with target values for key indicators (e.g. targeted savings). Based on a multilevel process for the degree of implementation , initiatives can be updated and (measured with...

  • Optimizing Margins

    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...

  • FAQ: Measure Management

    purchasing department also derives its goals from the company’s overall goals. For example, the purchasing goals (e.g. cost savings, quality and compliance guidelines) are provided to the purchasing department and its management by the financial...

  • FAQ: Procurement Success

    standpoint. However, in a narrower sense procurement success means cost reductions as well as cost avoidance. Impact & Savings Tracking Impact & Savings Tracking is a full featured suite for planning, steering, controlling and administering of sourcing...

  • FAQ: Cost Avoidance

    recognized by finance management such that many companies use this key indicator more in a neglectful manner. Impact & Savings Tracking Impact & Savings Tracking is a full featured suite for planning, steering, controlling and administering of sourcing...

  • Download started - Whitepaper - The key figure MPV for measuring savings through substitutions

    Orpheus Whitepaper The download of the whitepaper "The key figure MPV for measuring savings through substitutions" was started. If you do not see a file for download, click on the following link: Download the whitepaper "The key figure MPV for...

  • Download gestartet - Whitepaper - The key figure MPV for planning and measuring savings in procurement

    Orpheus Whitepaper The download of the whitepaper "The key figure MPV for planning and measuring savings in procurement" was started. If you do not see a file for download, click on the following link: Download the whitepaper "The key figure MPV for...

  • 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...

  • 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...

  • FAQ: Startseite

    A ABC Analysis › Added Value of Procurement › Ad-hoc Queries › B Balanced Scorecard › Benchmarking › Budget › Budget Savings › C Cash-out Rate › Classification of Procurement Data › Competitive Effects › Compliance Indicators › Content Management ›...

  • Orpheus Videos Portfolio

    From Transparency to Savings - Turn potentials into cash Category: Spend Analysis | Duration: 1:25 min {loadposition modal52} First, we connect to the source systems where we extract and enrich the data. For SAP we have a proprietary extractor program,...

  • Consolidate and classify purchasing data

    for suppliers to ignore the negotiated prices and processes. This is one reason why companies generally do not generate the savings that they anticipated. DataCategorizer is comprised of the modules Data Cleansing, Data Consolidation/Clustering, and...

  • FAQ: Performance Measurement

    performance is part of corporate measurement of success. This includes not only the measurement of procurement cost savings (in terms of cost reductions); arbitrary key figures in purchasing, which were defined by management as goals to be obtained...

  • FAQ: Added Value of Procurement

    of procurement is one of the greatest challenges of proper procurement management. Many companies reduce the added value to savings in the sense of cost reductions that can be projected to the profit and loss statement (P/L). However, in the case of...

  • FAQ: KPIs

    for Key Performance Indicator. These indicators are key figures that monitor the transparency, successes or cost savings, compliance, process efficiency, risks and many other aspects of strategic purchasing. They also serve to recognize trends and other...

  • Products

    assistants with feedback learning to easily add new use-cases Go to Alerting & Recommendations CAPTURE VALUE Impact & Savings Tracking Planning, forecasting, and monitoring of initiatives. Savings reporting integrated with actual spend data for...

  • Initiative Management Overview

    and activities, and to assign them to responsible staff members or teams. Key word: “Initiative Controlling”. Planned savings can be compared to realized figures. In addition, purchasing performance can be conveniently represented by means of analyses....

  • Artificial Intelligence

    harmonized, classified data and facts to: Ensure flawless, reliableprocurement KPIs and big data analytics Derive savings and efficiency potential through intelligent analytics Define measures and activities from this potential Support an integrated...

  • Orpheus Videos BME Webinar SpendControl - Small Business

    data. Create Data transparency Achieve transparency by cleaning, harmonizing and validating your data. Finding & raising Savings potential Identify & raise your savings potential and generate hard savings. Minimize Resource Usage No resource use of your...

  • Orpheus Videos BME Webinar BOTs Advanced Analytics

    and precisely in many problems. Bots (robots) recognize, for example, automatic abnormalities and provide hints for savings and efficiency potentials. They... propose proposals for action, show potential and automate routine activities. Live Webinar...

  • FAQ: Purchasing Transparency

    provided per se at first, especially in more complex, group-like corporate structures. In order, however, to recognize cost savings potentials by comparing the prices of same or similar materials (see benchmarking) or clustering potentials for similar...

  • 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...

  • 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...

  • Orpheus Videos Performance Management

    Videos Performance Management BOTs to automate Spend & Savings Analysis Automated, system-based BOTS for proposals to uncover efficiency potentials (cash / working capital, savings, compliance...) Category: Performance Management | 2:19 m More videos...

  • Services for Spend Management

  • Data Classification

    of information and boost its quality significantly. Through this higher transparency, you lay the foundation for higher savings and reliable procurement KPIs. Identify bundling and other savings potential and derive trends through classification...

  • Orpheus Videos Orpheus.Cloud

    and transparency problems using our AI methods and intelligent algorithms. With Orpheus.Cloud you are able to convert savings potentials into initiatives to visualize these hard savings in the P&L. Please contact us for more information on Orpheus.Cloud...

  • Orpheus Videos Consultants

    fully featured SpendCube, but also multiple dashboards and an overview of the most important KPIs. Identifying synergy- and savings potentials is now an easy exercise in your consulting project. Orpheus.SpendCube is a dynamic and living solution – data...

  • 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...

  • 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...

  • 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...

  • FAQ: Predictive Analytics

    The ongoing objective is to find out which levers in purchasing actually have a significant effect on KPIs such as cost savings, spend, compliance, etc., and which external and internal influencing variables and parameters need to be observed....

  • FAQ: Procurement controlling

    in particular toward strategic purchasing. They are mainly comprised of key figures concerning purchasing successes or savings (e.g. the so-called changes in material prices or negotiation successes), as well as key figures in regard to reporting areas...

  • FAQ: Spend Analysis & Spend Management

    refers to spend and procurement management in the Anglo-American sphere. Spend management is often used in combination with Savings Management. Spend management improves the transparency of the procurement volume as well as pricing and quantities of all...

  • FAQ: Procurement Performance Management

    and increasing the added value of the procurement organization. In doing so, the process is observed from the finding of savings potentials (transparency in procurement) via modern methods of spend management and their realization through procurement...

  • FAQ: Project Success Measuring

    success of the project can then be measured. Numerous factors play a role that should be included in the evaluation: Budget savings Successful negotiations Development of market prices Currency effects Quality aspects etc. Dashboards & Insights...

  • FAQ: Material price variance (MPV / MCV)

    price variance (MPV)? Material cost variance (MCV) or material price variance (MPV) is an essential key procurement savings indicator. It identifies the change of material costs or material price with respect to a reference value, e.g. compared to the...

  • Analysis & Ideation

    spending to determine the most impactful actions that you can take to immediately reduce spend and hit your targets. The savings analysis covers category-specific commercial, demand, and process levers, runs in-depth sourcing analytics on millions of...

  • Integrations & Ecosystem

    Cleansheet analysis. Cleansheet analyzes a product’s cost structure to help manufacturers optimize design and capture savings. Learn more Cleansheet Reduce product and service cost through Cleansheet analysis. Cleansheet analyzes a product’s cost...

  • Dashboards & Insights

    Advanced analytics for savings identification and impact generation We help you uncover spend patterns, outliers, and trends through our unparalleled guided insights and analytics capabilities. Leveraging advanced procurement analytics and performance...

  • FAQ: Low-Cost Country Sourcing

    etc.). Request a Demo for Dashboards & Insights more about Dashboards & Insights Purchasing Procurement Sourcing Supplier Savings Spend Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog articles...

  • FAQ: Forecasting

    Insights more about Dashboards & Insights Purchasing Procurement Forecasting Predictive Analytics Supplier Master Data KPIs Savings Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog articles about...

  • 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...

  • Alerting & Recommendations

    AI-based technology for automated and simplified spend and procurement analytics Orpheus Alerting & Recommendations contain business logic paired with AI and feedback learning. Your data steams will be analyzed automatically and constantly and you are...

  • Akademie übersicht EN

    Analytics in Procurement Identify interdependencies, support forecasts, detect price risks early on and illustrate savings potentials with correlation and regression calculations - Predictive Analytics im Einkauf - Zusammen mit Umfang und Bedeutung des...

  • Orpheus Videos Initiative Management

    InitiativeTracker Overview Create and Manage Procurement Initiatives. Plan, Forecast and Track/Measure their Impact on P&L Savings. Category: Initiative Management | 5:11 m More videos will follow... 0:00 m More videos will follow... 0:00 m More...

  • Orpheus Videos

    InitiativeTracker Overview Create and Manage Procurement Initiatives. Plan, Forecast and Track/Measure their Impact on P&L Savings. Category: Initiative Management | 5:11 m Orpheus Video Portal Orpheus Videos Overview› Videos "Spend Analysis"› Videos...

  • 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...

  • Download started - InitiativeTracker EN

    "Impact&SavingsTracking" brochure The download of the "Impact&SavingsTracking" brochure has been started. If you do not see a file for download, click on the following link: Download the Impact & Savings Tracking brochure here (2 Pages, ca. 0,50 MB)...

  • Home EN

    ad hoc analyses? Actionable insights … we could turn data into insights and recommendations to achieve impact and fuel your savings and value generation pipeline? Accurate impact management … we had a tool-supported, standardized, automated process to...

  • FAQ: Balanced Scorecard

    target achievements can be measured (see glossary for the terms performance measurement, purchasing successes and cost savings). In addition to purchase controlling, the implementation of measure management used to achieve the scorecard objectives....

  • FAQ: Cost Drivers

    Analytics in Procurement Identify interdependencies, support forecasts, detect price risks early on and illustrate savings potentials with correlation and regression calculations.... » read more

  • FAQ: Indirect Purchasing

    or components relevant to indirect purchasing, so that the share of repeatable demands is rather low. Analyses and cost savings measurements that are based on amounts and corresponding prices are thereby rarely applied in indirect purchasing. In...

  • FAQ: Spend Analysis

    prices or material price changes, payment terms and conditions, supplier performance and product group management, cost savings and purchasing successes, quality and supplier reliability, benchmarks and many other KPIs is available in this software. An...

  • FAQ: Procurement Strategy

    the necessary data. Without knowledge of the current situation, for example in regard to the expenditure amounts, the cost savings already achieved, the suppliers used and the quality delivered, etc., it is impossible to deduce and develop useful...

  • FAQ: Strategic Purchasing

    Dashboards & Insights more about Dashboards & Insights Purchasing Procurement Strategic Purchasing Sourcing Supplier Spend Savings Big Data Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog...

  • FAQ: Key Procurement Performance Indicators

    Key procurement performance indicators cover all areas of analysis relevant to procurement management. Examples are savings(Cost Reduction and Cost Avoidance) procurement volume pricing quantities Maverick Buying and other compliance-related topics...

  • FAQ: Competitive Effects

    of offers within a bid. For the reason alone that procurement allows multiple suppliers to come together in one bid, savings potentials can be produced. Dashboards & Insights Dashboards & Insights is a complete Procurement Controlling and Spend...

  • FAQ: Currency Effects

    etc.). Request a Demo for Dashboards & Insights more about Dashboards & Insights Purchasing Procurement Initiatives Spend Savings Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog articles about...

  • FAQ: Success of Negotiations

    initiative management and data management in procurement, or other articles from our experts. Orpheus Blog› Measuring RFP Savings In the procurement department, the relationship to the supplier is also a central focus with performance measurement.... »...

  • FAQ: Material Clusters

    material clusters, pricing developments can also be made visible for similar parts. In the case of missing price histories, savings can be calculated with clusters in the sense of a MCV / MPV. Data Cleansing & Categorization Cleansing, consolidation and...

  • FAQ: Classification of Purchasing Data

    data can be better analyzed through a general classification (also referred to as categorization) and thus new bundling and savings potentials are discovered. A classification can be made based on a standard, e.g. eCl@ss or UNSPSC or even with an...

  • FAQ: Global Sourcing

    more about Dashboards & Insights Purchasing Procurement Sourcing International Strategic Procurement Supplier Master Data Savings Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog articles about...

  • FAQ: Cash-out-Quote

    a Demo for Dashboards & Insights more about Dashboards & Insights Purchasing Procurement Cost Avoidance Cost Reduction Savings Spend Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog articles about...

  • FAQ: Budget

    Demo for Dashboards & Insights more about Dashboards & Insights Purchasing Procurement Budget Cost Reduction Cost Avoidance Savings Spend Search Glossary {loadposition sidebar06} Orpheus Glossary {loadposition sidebar07} Orpheus Blog Read blog articles...

  • FAQ: Benchmarking

    What is Benchmarking about? During benchmarking, a company’s values (e.g. spend/ procurement volumes, prices or cost savings key figures) are compared with a reference value (the so-called benchmark). This reference value may have been deduced from...

  • Data protection

    Privacy Policy The protection of your personal data is very important to us. Our goal is not only to provide you with an interesting and extensive online offer, but also to protect your personal rights. The legal basis for processing is, in particular,...

  • Orpheus Videos Semantic Data Management Overview

    Overview „Orpheus Semantic Data Management“ Category: Data Management | Dauer: 02:52 min {loadposition modal52} Hello, and welcome to our video about Semantic Data Management and spend transparency. To use available procurement data for meaningful,...


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