SAP Ariba will reveal the secrets of companies who have found a way to overcome the procurement challenges associated with complex, globe-crossing supply chains, increasing regulation and stakes that are higher than ever in a new podcast.
Published on The Briefings Direct Network, The Secrets of Highly Effective Procurement will cover the best practices that define source-to-pay excellence.
“Procurement today is a different game,” said Dana Gardner, principal analyst with Interarbor Solutions and host of the Briefings Direct series. “Once viewed as a back-office task, it has emerged as a key differentiator and driver of business value. And to execute it well requires totally new ways of thinking and acting.”
And there do seem to be some common practices among procurement top performers. According to a survey conducted as part of SAP Ariba’s Benchmark Program, which analysed more than US$350 billion in spend data across 3500 categories for companies connected to the Ariba Network, these top performers:
- Manage source-to-pay as an end-to-end process, not a series of discrete tasks;
- Have an integrated platform from which they manage all of their spend, not disparate point solutions;
- Leverage technology to fuel greater collaboration, not just to automate tasks; and
- Connect to networks to access intelligence, rather than just transact.
“As a result of their willingness to think outside the box and enable a technology-enabled, data-driven approach to procurement, these best-in-class outfits have more spend under management, drive greater savings and efficiencies, and are transforming their operations,” said Kay Ray Lee, director, value realisation, SAP Ariba.
The podcast is now online here.
