Procurement Transformation: Real Stories, Real Results
How can transforming procurement enable you to grow your business? By improving your visibility into spend, you can gain the clarity for better decisions and to enable deeper supplier relationships.
This guide details how companies have transformed their procurement system and grown their businesses by using DataMap and Coupa.
If your procurement ecosystem is in chaos, you're not alone.
In this guide, you will hear how companies were able to steer through the chaos, with an overarching universal procurement transformation roadmap that led to:
- Cost Reductions
- Operational Efficiencies
- Spend Visibility
- Scalability and Repeatability
- Quick Adoption
Download this Procurement Roadmap to start your company's journey of Transforming Procurement by better understanding:
- How to put procurement in the driver’s seat when it comes to managing vendor relationships
- What tools are needed to navigate an unpredictable business environment
- How to develop stronger, more strategic relationships with suppliers
- How other companies have steered through procurement transformation chaos
FAQ
What are the advantages of increased visibility?
Spend visibility not only drives better discounts or rebates with suppliers and bring costs down, but it also:
1. Prepares you for disruption and external risk because you gain visibility into your suppliers.
2. It allows you to strengthen supplier relationships, diversify with new relationships, or take advantage of competitive buying opportunities.
3. It also helps companies leverage procurement activities to help grow the business and move procurement from solely operational to a strategic procurement initiative within the organization.
Spend visibility puts procurement in the driver’s seat when it comes to managing vendor relationships.
1. Prepares you for disruption and external risk because you gain visibility into your suppliers.
2. It allows you to strengthen supplier relationships, diversify with new relationships, or take advantage of competitive buying opportunities.
3. It also helps companies leverage procurement activities to help grow the business and move procurement from solely operational to a strategic procurement initiative within the organization.
Spend visibility puts procurement in the driver’s seat when it comes to managing vendor relationships.
What were some of the real results from digital procurement transformation?
While procurement transformation strategy continues to drive cost reductions, agility, risk mitigation, governance, and control, the unanticipated benefit is the ability to identify and develop innovative suppliers to drive new value creation. The 5 main objectives of procurement transformation are:
1. Operational control
2. Standardized processes, purchase orders, contract policies, and visibility into spend
3. Leveraged discounts
4. Accelerated onboarding and adoption for new suppliers
5. Strengthened relationships with strategic suppliers so that supply chain disruptions are reduced
And more!
Procurement transformation takes chaos and turns it into innovation and progress. Download this Procurement Transformation eBook to learn more!
1. Operational control
2. Standardized processes, purchase orders, contract policies, and visibility into spend
3. Leveraged discounts
4. Accelerated onboarding and adoption for new suppliers
5. Strengthened relationships with strategic suppliers so that supply chain disruptions are reduced
And more!
Procurement transformation takes chaos and turns it into innovation and progress. Download this Procurement Transformation eBook to learn more!
What are the top procurement transformation best practices?
Digital procurement transformation provides organizations with the visibility and clarity they need to develop deep supplier relationships to grow their business. In order to achieve growth, procurement leaders turn to these top procurement transformation best practices.
1. Ask the right questions: Who are we? Where are the purchase orders? Who’s agreeing that the supplier should be set up? Who’s monitoring compliance?
2. Create a road map that includes goals, strategy, and implementation plans.
3. Ensure you attain early alignment with all stakeholders, including finance, operations, IT, and procurement.
4. Have the right tools and partners with complementary expertise to guide the transformation journey.
Download this Procurement Transformation eBook to learn more!
1. Ask the right questions: Who are we? Where are the purchase orders? Who’s agreeing that the supplier should be set up? Who’s monitoring compliance?
2. Create a road map that includes goals, strategy, and implementation plans.
3. Ensure you attain early alignment with all stakeholders, including finance, operations, IT, and procurement.
4. Have the right tools and partners with complementary expertise to guide the transformation journey.
Download this Procurement Transformation eBook to learn more!
