Coupa Blog

Coupa is a company of talkers, passionate about sharing tips, tricks and advice for improving finance and procurement and saving companies of all sizes time and money. But we’re not the only people with opinions and ideas. We’d love to hear from you so join the conversation!

The Coupa Top 5: Earning trust and diving deeper into data

 

Analytics and big data projects are starting to appear on the radar screens of forward thinking procurement organizations. Many companies have a rich store of data to pull from, and procurement is well positioned to undertake these types of projects. Studies show that even small projects can yield big financial gains. Caution - side effects may include more influence in the C-suite!

 

Coupa 1Earning trust top focus for procurement in 2015 - Supply Management

Procurement is destined to assume a bigger strategic role in corporate leadership over the coming years. How they’ll get there: by earning the trust of the existing power structure. With budgets remaining tight, it will be critical to pick just a handful of initiatives, says a Hackett Group report. Big data projects and developing talent should top the list.

 

 

Coupa 2Procurement's Future Is Intertwined With Analytics  - Procurement Leaders

Big data and analytics are increasingly getting top billing as something procurement needs to focus on (see above). Many CPOs are already using data to gain more influence in the executive suite as well as to make more intelligent decisions. A recent IBM study found 41% of top CPOs incorporating analytics into their procurement processes, vs. 16% of lower-performing CPOs. Procurement already has that volume of data. Now it’s time to use it to make the function and the organization more efficient.

 

Coupa 3Diving deeper into data - Procurement Leaders - Inc

If Step 1 is “Harness Big Data” and Step 3 is “Profit”, what’s comes in between?  Here are five ways companies can deliver millions in savings by taking a deeper dive into their data through an opportunity analysis.

 

Coupa 4Bridging the generational gap of B2B Procurement - PYMNTS.com

The flux of millenials into the workforce will inevitably change corporate buying Why? Science says milennials shop differently from their predecessors - and they’ll carry their evolved habits with them into the business world. Some of those habits might surprise you.

 

Coupa 5How to build a business case for ERP in the cloud - Diginomica

Sometimes the hardest sell can be convincing your own team to make a change. As cloud software continues to pull away from on-premise in efficiency and TCO, making a compelling case to switch can be essential to remain competitive. Diginomica’s Sameer Bhaidani shows how to make this case, matching on-premise pain points with cloud solution enablers.